1
Short title
1 Short title
This Act may be cited as the Housing Loans Guarantees (Australian Capital Territory) Act 1959.
//
© 2026 Zoe. All rights reserved.
Zoe is a legal information platform. Always consult the Federal Register of Legislation for authoritative text.
Commonwealth act
This Act authorises the Commonwealth Treasurer to guarantee repayment (including interest) of loans made to co‑operative building societies registered under ACT law and to the Commissioner for Housing under the Housing Ordinance (s4(1)–(2)). 'Loan' expressly includes overdrafts (s3(1)).
The Commonwealth thus assumes repayment risk for those guarantees; the Treasurer negotiates guarantee terms with lenders (s4(2)) and may delegate—and revoke—delegated powers (s5(1)–(2)), concentrating discretion in the Treasurer's office.
Want the full deep dive?
Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.
Direct links to the current provisions in Housing Loans Guarantees (Australian Capital Territory) Act 1959.
This Act may be cited as the Housing Loans Guarantees (Australian Capital Territory) Act 1959.
This Act shall come into operation on the day on which it receives the Royal Assent.
(1) In this Act:
loan includes an advance by way of overdraft.
(2) The reference in the next succeeding section to the Housing Ordinance 1928‑1957 of the Australian Capital Territory shall be deemed: (a) if that Ordinance is amended—to be a reference to that Ordinance as amended; or (b) if that Ordinance is repealed and remade, with or without modifications, by another Ordinance—to be a reference to that other Ordinance.
(1) The Treasurer may, on behalf of the Commonwealth, guarantee the repayment to the lender of a loan (including interest on the loan) made to: (a) a co‑operative building society registered under a law of the Australian Capital Territory relating to co‑operative societies; or (b) the Commissioner for Housing holding office under the Housing Ordinance 1928‑1957 of the Australian Capital Territory. (2) The terms and conditions of the guarantee shall be as agreed to between the Treasurer and the lender.
(1) The Treasurer may, by instrument in writing, delegate to a person, either generally or otherwise as provided in the instrument of delegation, all or any of his powers and functions under this Act (except this power of delegation) so that the delegated powers and functions may be exercised and performed by the delegate in accordance with the instrument of delegation. (2) A delegation under this section is revocable at will and does not prevent the exercise of a power or the performance of a function by the Treasurer.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This Act may be cited as the Housing Loans Guarantees (Australian Capital Territory) Act 1959.
This Act shall come into operation on the day on which it receives the Royal Assent.
(1) In this Act:
loan includes an advance by way of overdraft.
(2) The reference in the next succeeding section to the Housing Ordinance 1928‑1957 of the Australian Capital Territory shall be deemed: (a) if that Ordinance is amended—to be a reference to that Ordinance as amended; or (b) if that Ordinance is repealed and remade, with or without modifications, by another Ordinance—to be a reference to that other Ordinance.
(1) The Treasurer may, on behalf of the Commonwealth, guarantee the repayment to the lender of a loan (including interest on the loan) made to: (a) a co‑operative building society registered under a law of the Australian Capital Territory relating to co‑operative societies; or (b) the Commissioner for Housing holding office under the Housing Ordinance 1928‑1957 of the Australian Capital Territory. (2) The terms and conditions of the guarantee shall be as agreed to between the Treasurer and the lender.
(1) The Treasurer may, by instrument in writing, delegate to a person, either generally or otherwise as provided in the instrument of delegation, all or any of his powers and functions under this Act (except this power of delegation) so that the delegated powers and functions may be exercised and performed by the delegate in accordance with the instrument of delegation. (2) A delegation under this section is revocable at will and does not prevent the exercise of a power or the performance of a function by the Treasurer.