CTHRepealedAct
Loan (Housing) Act 1961
1Loan (Housing) Act 1961
Start here
Get a plain-English read of 1
Turn the raw legal text into a practical explanation grounded in Loan (Housing) Act 1961.
LOAN (HOUSING).
No. 60 of 1961.
An Act to authorize the Raising and Expending of Moneys for the purposes of Housing.
[Assented to 24th October, 1961.]
BE it enacted by the Queen’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 1961.
Commencement.
- This Act shall come into operation on the day on which it receives the Royal Assent.
Authority to borrow £42,900,000.
- The Treasurer may, from time to time, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911–1946, or in accordance with the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole Forty-two million nine hundred thousand pounds.
Application of moneys.
- Moneys borrowed under this Act shall be issued and applied only for the expenses of borrowing and for the purpose of making advances to States in pursuance of section four or five of the Housing Agreement Act 1961.