Commonwealth act

Loan (Housing) Act 1963

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

6 of 1963

Collection

act

Plain English Summary

1/10 complexity

This Act authorises the Treasurer to borrow up to £2,711,000 by issuing Commonwealth stock or Treasury Bills, with the funds restricted to loan arrangement costs and advances to States for housing projects. It primarily affects the Treasurer and State housing authorities and matters because it provides the parliamentary approval needed to finance specific government‑funded public housing initiatives.

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Current sections

Direct links to the current provisions in Loan (Housing) Act 1963.

Loan (Housing) Act 1963

LOAN (HOUSING).

No. 6 of 1963.

An Act to Authorize the Raising and Expending of a sum not exceeding Two million seven hundred and eleven thousand pounds for the purposes of Housing.

[Assented to 8th May, 1963.]

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 1963.

Commencement.

This Act shall come into operation on the day on which it receives the Royal Assent.

Authority to borrow £2,711,000.

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 Two million seven hundred and eleven 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 the States in pursuance of section four of the Housing Agreement Act 1961.

Source text

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

1 Loan (Housing) Act 1963