Commonwealth act

Loan (Housing) Act 1968

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

79 of 1968

Collection

act

Plain English Summary

1/10 complexity

This Act authorises the Treasurer to borrow up to $126 million to fund public housing, raising finance by issuing Commonwealth Inscribed Stock or short-term Treasury Bills. The money may only cover loan arrangement costs and advances to States under the Housing Agreement Act 1966, creating a temporary, purpose‑limited borrowing power that ends once spent.

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Current sections

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Loan (Housing) Act 1968

Loan (Housing)

No. 79 of 1968

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

[Assented to 6 November 1968]

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 1968.

Commencement.

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

Authority to borrow $126,000,000.

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-six million dollars.

Application of moneys.

Moneys borrowed under this Act shall be issued and applied only for the expenses of borrowing and for the purposes 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 1968