{"id":"C1915A00021","name":"War Loan Act (No. 1) 1915","slug":"war-loan-act-no-1-1915","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"21 of 1915","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":18979,"registerId":"commonwealth-C1915A00021-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"War Loan Act (No. 1) 1915","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\nWAR LOAN (No. 1).\n\n \n\nNo. 21 of 1915.\n\nAn Act to authorize the Raising and Expending of the sum of Twenty million pounds for War purposes.\n\n[Assented to 23rd July, 1915.]\n\nBE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—\n\nShort title.\n\n1. This Act may be cited as the War Loan Act (No. 1) 1915.\n\nTreasurer may borrow £20,000,000.\n\n2. The Treasurer may from time to time, under the. provisions of the Commonwealth Inscribed Stock Act 1911-1915 or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of Twenty million pounds.\n\nPurpose for which money may be expended.\n\n3. The amount borrowed shall be issued and applied only for the expenses of borrowing and for War purposes.\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1848},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The Act retains its original narrow scope of authorizing a single, specific war loan for WWI expenses. There is no indication of expansion beyond the initial purpose of raising £20 million for war financing."},"complexity_factors":["Only 3 operative sections with no subdivisions or schedules","No defined terms or interpretation section","Single cross-reference to the Commonwealth Inscribed Stock Act 1911-1915 for borrowing mechanics","Unconditional borrowing authority limited only by a monetary cap (£20 million)","Simple, unqualified expenditure restriction with no exceptions or procedural requirements"],"plain_english_summary":"This Act authorises the Australian Government to borrow **£20 million** (roughly $2 billion in today's money) to help pay for World War I.\n\n**What it does:**\n*   **Gives the Treasurer power to borrow:** The Treasurer can raise the money by selling government bonds (under the *Commonwealth Inscribed Stock Act*) or issuing short-term Treasury Bills.\n*   **Caps the amount:** The total borrowing cannot exceed £20 million.\n*   **Restricts spending:** The funds can only be used for two things: (1) paying the costs of arranging the loan itself, and (2) funding \"War purposes\" — meaning military expenses for WWI.\n\n**Why it matters:**\nDuring WWI, the government needed massive amounts of money to fund troops, equipment, and supplies. This Act allowed the Commonwealth to go into debt to pay for the war, essentially asking Australians and investors to lend money to the government that would be repaid later."}},"importantCases":[],"_links":{"self":"/api/acts/war-loan-act-no-1-1915","history":"/api/acts/war-loan-act-no-1-1915/history","analysis":"/api/acts/war-loan-act-no-1-1915/analysis","conflicts":"/api/acts/war-loan-act-no-1-1915/conflicts","importantCases":"/api/acts/war-loan-act-no-1-1915/important-cases","documents":"/api/acts/war-loan-act-no-1-1915/documents"}}