4Power to create stock

4 Power to create stock

(1) The Governor‑General may, by writing signed by him or her, create stock, Treasury Bonds, Treasury Notes or other prescribed securities from time to time for: (a) raising money by way of loan; or (b) converting any loan raised by the Commonwealth into any other loan so raised; or (c) paying any expenses of carrying this Act into effect that the Governor‑General considers are properly payable out of capital; or (d) lending by the Treasurer under securities lending arrangements under section 5BA of the Loans Securities Act 1919. (2) Stock created pursuant to paragraph (1)(a) shall not be issued or sold unless: (a) authority to borrow the moneys to be raised by the issue or sale is granted by section 3A of this Act or by any other Act; or (b) the issue or sale is for the purpose of carrying out an obligation of the Commonwealth under the Financial Agreement.