Loans Redemption and Conversion Act 1921 --- title: Loans Redemption and Conversion Act 1921 identifier: C1921A00018 jurisdiction: commonwealth type: act status: in_force source: "https://www.legislation.gov.au/C1921A00018/1950-12-31/1950-12-31/text/original/epub/OEBPS/document_1/document_1.html" --- 1 — Short title [see Note 1] This Act may be cited as the Loans Redemption and Conversion Act 1921. 2 — Interpretation In this Act, unless the contrary intention appears, loan includes Inscribed Stock, Registered Stock, Treasury Bills and any other securities issued by the Commonwealth in connexion with the raising of any loan. 3 — Paying off, repurchasing, redeeming or converting loans The Governor-General may authorize the Treasurer to pay off, repurchase or redeem any loan raised either before or after the commencement of this Act by the Commonwealth, or to convert any such loan into any other Commonwealth loan. 4 — Authority to borrow certain moneys The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1918, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow money necessary for the purpose of paying off, repurchasing or redeeming any loan in accordance with this Act. 5 — Payment of principal, interest and conversion of securities The principal moneys borrowed in accordance with this Act, the interest thereon and the costs of converting loans in accordance with this Act, shall be a charge on and payable out of the Consolidated Revenue Fund which is hereby appropriated for the purpose. 6 — Purpose for which money may be borrowed The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purpose of paying off, repurchasing or redeeming loans. 8 — Regulations The Governor-General may make Regulations not inconsistent with this Act, prescribing all matters which by this Act are required or permitted to be prescribed, or which are necessary or convenient to be prescribed, for carrying out or giving effect to this Act.