Commonwealth act

Loan (Housing) Act 1969

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

59 of 1969

Collection

act

Plain English Summary

1/10 complexity

This law lets the Commonwealth borrow up to $132,230,000 (1969 dollars) by issuing government stock or Treasury Bills to fund public housing. The proceeds may only cover loan-arrangement costs and advances to States under the Housing Agreement Act 1966, so States receive funds for housing projects while home buyers, public tenants and taxpayers are the indirect beneficiaries and backstop.

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Current sections

Direct links to the current provisions in Loan (Housing) Act 1969.

Loan (Housing) Act 1969

Loan (Housing)

No. 59 of 1969

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

[Assented to 2 September 1969]

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 1969.

Commencement.

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

Authority to borrow $132,230,000.

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 thirty-two million two hundred and thirty 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 1969