Loan Act 1922

1 Loan Act 1922

LOAN.

No. 7 of 1922.

An Act to authorize the Raising and Expending of certain Sums of Money.

[Assented to 9th September, 1922.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1. This Act may be cited as the Loan Act 1922.

Authority to borrow £12,000,000.

2. The Treasurer may from time to time under the provisions of the Commonwealth Inscribed Stock Act 1911-1918, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of Twelve million pounds.

Purpose for which money may be borrowed.

3. The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purposes of appropriations made or to be made by law.

Issue and application of £17,039,099.

4. There may be issued and applied out of the proceeds of any Loan raised under the authority of any Loan Act, including the present Act, the sum of Seventeen million thirty-nine thousand and ninety-nine pounds for the purposes set forth in the Schedule to this Act.

SCHEDULE.

<table cellspacing="0" cellpadding="0" style="width:100%; margin-bottom:0pt; border-collapse:collapse"><tbody><tr style="height:1pt"><td style="width:58.74%; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">—</span></p></td><td style="width:11.88%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Amount required in</span><span style="font-family:'Times New Roman', serif"> </span><span style="font-family:'Times New Roman', serif">1922-23.</span></p></td><td style="width:14.8%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Already available</span><span style="font-family:'Times New Roman', serif"> </span><span style="font-family:'Times New Roman', serif">under Appropriations made by previous Acts.</span></p></td><td style="width:14.58%; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Appropriated under this Act.</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif"></span></p></td><td style="width:11.88%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">First Column.</span></p></td><td style="width:14.8%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Second Column.</span></p></td><td style="width:14.58%; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Third Column.</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">Under Control of Prime Minister</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">’</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">s Department.</span></p></td><td style="width:11.88%; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">£</span></p></td><td style="width:14.8%; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">£</span></p></td><td style="width:14.58%; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">£</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Contribution of Commonwealth towards construction of roads by States</span><span style="width:35.7pt; text-indent:0pt; display:inline-block"></span></p></td><td style="width:11.88%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">250,000</span></p></td><td style="width:14.8%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">..</span></p></td><td style="width:14.58%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">250,000</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">London Offices</span><span style="width:197.96pt; text-indent:0pt; font-family:'Lucida Console', monospace; display:inline-block">................................</span></p></td><td style="width:11.88%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">21,200</span></p></td><td style="width:14.8%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">15,348</span></p></td><td style="width:14.58%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">5,852</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Subscription to capital of Refinery Company in accordance with </span><span style="font-family:'Times New Roman', serif; font-style:italic">Oil Agreement Act </span><span style="font-family:'Times New Roman', serif">1920</span><span style="width:2.88pt; text-indent:0pt; display:inline-block"></span></p></td><td style="width:11.88%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">150,001</span></p></td><td style="width:14.8%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">24,999</span></p></td><td style="width:14.58%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">125,002</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Williamstown Shipbuilding Yard—Buildings, plant and machinery</span><span style="width:19.14pt; text-indent:0pt; display:inline-block"></span></p></td><td style="width:11.88%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">5,000</span></p></td><td style="width:14.8%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">811</span></p></td><td style="width:14.58%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">4,189</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Cockatoo Island Dockyard—Machinery and Plant, yard and floating plant</span><span style="width:27.69pt; text-indent:0pt; display:inline-block"></span></p></td><td style="width:11.88%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">10,000</span></p></td><td style="width:14.8%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">6,997</span></p></td><td style="width:14.58%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:bottom"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">3,003</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Loan to Papua for Public Works</span><span style="width:131.86pt; text-indent:0pt; font-family:'Lucida Console', monospace; display:inline-block">.....................</span></p></td><td style="width:11.88%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">4,000</span></p></td><td style="width:14.8%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:center; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">..</span></p></td><td style="width:14.58%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">4,000</span></p></td></tr><tr style="height:1pt"><td style="width:58.74%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-left:14.4pt; margin-bottom:0pt; text-indent:-14.4pt; text-align:justify; line-height:normal; font-size:10pt"><span style="font-family:'Times New Roman', serif">Immigration—Passage money of assisted immigrants</span><span style="width:47.14pt; text-indent:0pt; font-family:'Lucida Console', monospace; display:inline-block">.......</span></p></td><td style="width:11.88%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:right; line-height:normal; widows:0; orphans:0; font-size:10pt"><span style="font-family:'Times New Roman', serif">200,000</span></p></td><td style="width:14.8%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:7.2pt; margin-bottom:0pt; text-align:righ