CTHRepealedAct
Loan Act (No. 3) 1942
1Loan Act (No. 3) 1942
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LOAN (No. 3).
No. 47 of 1942.
An Act to authorize the Raising and Expending of a certain Sum of Money.
[Assented to 6th October, 1942.]
Short title.BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
- This Act may be cited as the Loan Act (No. 3) 1942.
Commencement.
- This Act shall come into operation on the day on which it receives the Royal Assent.
Authority to borrow £200,000,000.
- The Treasurer may, from time to time, borrow, under the provisions of the Commonwealth Inscribed Stock Act 1911–1940, or under the provisions of any Act authorizing the issue of Treasury Bills, moneys not exceeding in the whole the amount of Two hundred million pounds.
Purposes for which money may be expended.
- The amount borrowed may 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 £200,000,000.
- There may be issued and applied out of the proceeds of any loan raised under the authority of this Act, or of any other Act, the sum of Two hundred million pounds for war purposes.