Papua New Guinea Loan Guarantee Act 1973
1Papua New Guinea Loan Guarantee Act 1973
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Papua New Guinea Loan Guarantee Act 1973
No. 32 of 1973
An Act to provide for the Giving of a Guarantee by the Commonwealth with respect to a Loan to be raised Overseas by the Administration of Papua New Guinea, and for purposes connected therewith
Contents
7 Moneys to be paid free of taxes etc.
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Papua New Guinea Loan Guarantee Act 1973
No. 32 of 1973
An Act to provide for the Giving of a Guarantee by the Commonwealth with respect to a Loan to be raised Overseas by the Administration of Papua New Guinea, and for purposes connected therewith
[Assented to 24 May 1973]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Papua New Guinea Loan Guarantee Act 1973.
2 Commencement
This Act shall come into operation on the day on which it receives the Royal Assent.
3 Application of Act
This Act extends to Papua New Guinea.
4 Interpretation
(1) In this Act, unless the contrary intention appears:
Administration means the Administration or Government of Papua New Guinea.
guarantee means the guarantee by the Commonwealth under subsection 5(1), and includes any agreement entered into for the purposes of that guarantee.
loan agreement means the agreement to which the guarantee relates.
(2) For the purposes of this Act, an amount of foreign currency, other than the currency of the United States of America, is, at a specified time, equivalent to Twenty million dollars in the currency of the United States of America if, at that time, that first‑mentioned amount is equivalent to an amount of Australian currency that, at that time, is equivalent to Twenty million dollars in the currency of the United States of America.