51APower to make out and issue Treasury Bonds

51A Power to make out and issue Treasury Bonds

(1) The Governor‑General may authorize the Treasurer from time to time to make out bonds called Treasury Bonds or Australian Consolidated Treasury Bonds, Debentures and such other securities as are prescribed, for: (a) raising money by way of loan; (aa) converting any loan raised by the Commonwealth into any other loan so raised; and (b) paying any expenses of carrying this Act into effect which the Governor‑General considers are properly payable out of capital. (2) Treasury Bonds, Debentures or other securities made out pursuant to paragraph (1)(a) shall not be issued or sold unless authority to borrow the money to be raised by the issue or sale is granted by an Act. (3) Notwithstanding subsection (1), Treasury Bonds, Debentures or other prescribed securities shall not be made out, issued or sold in connection with any loan raised after the commencement of this subsection.