{"id":"C1916A00024","name":"War Loan Act (United Kingdom) (No. 2) 1916","slug":"war-loan-act-united-kingdom-no-2-1916","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"24 of 1916","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":19023,"registerId":"commonwealth-C1916A00024-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"War Loan Act (United Kingdom) (No. 2) 1916","content":"WAR LOAN (UNITED KINGDOM) (No. 2)\n\nNo. 24 of 1916.\n\nAn Act to authorize the borrowing of money from the Government of the United Kingdom for War purposes.\n\n\\[Assented to 30th May, 1916.\\]\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 (United Kingdom) (No. 2) 1916.\n\nAuthority to borrow £25,000,000.\n\n2. The Treasurer may borrow Twenty-five million pounds from the Government of the United Kingdom.\n\nConditions of loan.\n\n3. The rate of interest, the date of repayment and the form of security issued in respect of borrowings under this Act, may be such as are approved by the Governor-General.\n\nPayment of principal and interest.\n\n4. The principal moneys borrowed under this Act shall be repayable, and the interest thereon shall be payable, out of the Consolidated Revenue Fund, which is hereby appropriated for the purpose.\n\nPurpose for which money may be expended.\n\n5. The amount borrowed under this Act shall be issued and applied only to the expenses of borrowing and for war purposes: Provided that out of such amount temporary advances may be made to States in accordance with the States Loan Act 1916.\n\nRegulations.\n\n6. The Governor-General may make regulations, not inconsistent with this Act, prescribing all matters which by this Act are required or permitted to be prescribed, or which are necessary or convenient to be prescribed, for carrying out or giving effect to this Act.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1440},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This is the original enactment and remains tightly focused on its initial purpose of authorising a specific war loan from the United Kingdom Government."},"complexity_factors":["Only 6 sections with linear, sequential structure","No defined terms or interpretation section","Single, specific purpose without conditional exceptions","Only one external cross-reference (to States Loan Act 1916)"],"plain_english_summary":"This Act authorises the Australian Government to borrow £25 million from the British Government to fund Australia's involvement in World War I.\n\n**What it does:**\n- **Borrowing power**: Allows the Treasurer (Finance Minister) to borrow up to £25 million from the UK Government.\n- **Loan terms**: The interest rate, repayment date, and security documents are set by the Governor-General (the King's representative in Australia).\n- **Repayment source**: The borrowed money must be repaid with interest, funded from Australia's Consolidated Revenue Fund (the government's main bank account), which this Act officially sets aside (*appropriates*) for this purpose.\n- **Spending restrictions**: The funds can only be used for war expenses and costs related to arranging the loan. However, temporary advances can also be made to Australian States under the separate *States Loan Act 1916*.\n- **Regulations**: The Governor-General can create rules to implement this Act."}},"importantCases":[],"_links":{"self":"/api/acts/war-loan-act-united-kingdom-no-2-1916","history":"/api/acts/war-loan-act-united-kingdom-no-2-1916/history","analysis":"/api/acts/war-loan-act-united-kingdom-no-2-1916/analysis","conflicts":"/api/acts/war-loan-act-united-kingdom-no-2-1916/conflicts","importantCases":"/api/acts/war-loan-act-united-kingdom-no-2-1916/important-cases","documents":"/api/acts/war-loan-act-united-kingdom-no-2-1916/documents"}}