Commonwealth act

Loan (Housing) Act 1948

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

54 of 1948

Collection

act

Plain English Summary

2/10 complexity

The Act authorises the Commonwealth to borrow up to £14 million (by issuing bonds or Treasury bills) and requires those funds to be lent to State governments for public housing under the Commonwealth and State Housing Agreement. It doesn’t build houses itself but creates the legal power for the federal government to raise and pass on the cash needed for post‑war housing programs.

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Current sections

Direct links to the current provisions in Loan (Housing) Act 1948.

Loan (Housing) Act 1948

LOAN (HOUSING).

No. 54 of 1948.

An Act to authorize the Raising of Moneys to be advanced to the States for the purposes of Housing.

[Assented to 25th November, 1948.]

[Date of commencement, 23rd December. 1948.]

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 (Housing) Act 1948.

Authority to borrow £14,000,000.

The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1946, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the sum of Fourteen million pounds.

Application of moneys.

Moneys borrowed under this Act shall be issued and applied only for the expenses of borrowing and for making advances to the States for the purposes of housing in pursuance of the agreement the execution of which is authorized by the Commonwealth and State Housing Agreement Act 1945.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Loan (Housing) Act 1948