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Loan Act 1934
1Loan Act 1934
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LOAN.
No. 17 of 1934.
An Act to authorize the Raising and Expending of a certain Sum of Money.
[Assented to 4th August, 1934.]
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.
- This Act may be cited as the Loan Act 1934.
Authority to borrow £1,050,000.
- The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911–1933, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of One million and fifty thousand pounds.
Purpose for which money may be borrowed.
- 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 £1,000,000.
- There may be issued and applied out of the proceeds of any Loan raised under the authority of any Loan Act, including this Act, the sum of One million pounds for the purposes set forth in the Schedule to this Act.
THE SCHEDULE.
| — | Appropriated by this Act. |
|---|---|
| THE POSTMASTER-GENERAL’S DEPARTMENT. | £ |
| Under Control of the Postmaster-General’s Department and the Department of the Interior. | |
| Telephone exchange services; trunk line services; buildings and sites....... | 1,000,000 |