Commonwealth act

Loan (Housing) Act 1967

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

81 of 1967

Collection

act

Plain English Summary

1/10 complexity

This Act authorises the Commonwealth to borrow up to $122,840,000 (by inscribed stock or Treasury bills) with proceeds restricted to paying borrowing costs and providing funds to State governments under the 1966 Housing Agreement.

It lets the Federal Government act as the financier for public housing—using national credit to raise money and transfer it to States to fund and manage social housing.

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Current sections

Direct links to the current provisions in Loan (Housing) Act 1967.

Loan (Housing) Act 1967

Loan (Housing)

No. 81 of 1967

An Act to Authorize the Raising and Expending of Moneys for the purposes of Housing.

[Assented to 8 November 1967]

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 1967.

Commencement.

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

Authority to borrow $122,840,000.

The Treasurer may, from time to time, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911–1966, or in accordance with the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole One hundred and twenty-two million eight hundred and forty thousand dollars.

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 4 of the Housing Agreement Act 1966.

Source text

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

1 Loan (Housing) Act 1967