1Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Act 2008

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Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Act 2008

 

No. 129, 2008

 

 

 

 

 

An Act to provide for an appropriation for the Guarantee Scheme for Large Deposits and Wholesale Funding, and for related purposes

 

 

 

Contents

1 Short title

2 Commencement

3 Definitions

4 Application within and outside Australia

5 Appropriation

6 Borrowing

 

Image unavailable in extracted text

 

 

Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Act 2008

No. 129, 2008

 

 

 

An Act to provide for an appropriation for the Guarantee Scheme for Large Deposits and Wholesale Funding, and for related purposes

[Assented to 27 November 2008]

The Parliament of Australia enacts:

1  Short title

  This Act may be cited as the Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Act 2008.

2  Commencement

  This Act commences on the day on which it receives the Royal Assent.

3  Definitions

  In this Act:

Deed of Guarantee means the Deed of Guarantee in respect of the Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding, executed on behalf of the Commonwealth on 20 November 2008, as that Deed is in force from time to time.

Scheme Rules means the Scheme Rules identified in the Deed of Guarantee, as those Rules are in force from time to time.

4  Application within and outside Australia

  This Act applies both within and outside Australia.

5  Appropriation

  The Consolidated Revenue Fund is appropriated for the following purposes:

 (a) paying claims under the Deed of Guarantee in accordance with the Scheme Rules;

 (b) repaying a borrowing, and paying interest on a borrowing, made under section 6.