1Loans (Qantas Airways Limited) Act 1972

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Loans (Qantas Airways Limited) Act 1972

Act No. 98 of 1972 as amended

[Note: This Act was repealed by Act No. 8 of 2005 on 22 February 2005]

This compilation was prepared on 11 September 2000 taking into account amendments up to Act No. 107 of 1994

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting, Attorney‑General’s Department, Canberra

 

 

 

Contents

1 Short title [see Note 1]

2 Commencement [see Note 1]

3 Interpretation

4 Authority to borrow $25,000,000

5 Securities

6 Application of Act to disbursements not paid to Commonwealth

7 Application of moneys

8 Appropriation

9 Exemption from taxes etc.

Notes

 

An Act to approve the Borrowing by the Commonwealth of Moneys to be made available to Qantas Airways Limited, and for purposes connected therewith

1  Short title [see Note 1]

  This Act may be cited as the Loans (Qantas Airways Limited) Act 1972.

2  Commencement [see Note 1]

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

3  Interpretation

  In this Act, Qantas means Qantas Airways Limited.

4  Authority to borrow $25,000,000

 (1) Approval is given to the making and carrying out by the Commonwealth of an agreement or agreements for or in relation to the borrowing by the Commonwealth of moneys not exceeding in the whole Twenty‑five million dollars in the currency of the United States of America.

 (2) Where moneys borrowed under an agreement made in pursuance of the last preceding subsection are borrowed in a currency other than the currency of the United States of America, the amount borrowed in that other currency shall, for the purposes of the last preceding subsection, be taken to be the amount in the currency of the United States of America that is equivalent to the first‑mentioned amount, as ascertained:

 (a) in accordance with the central rate of that other currency as established by the country concerned and noted by the International Monetary Fund and in effect at the date of the agreement for the borrowing;