Queensland Tobacco Leaf Marketing Board Guarantee Act 1953
1Queensland Tobacco Leaf Marketing Board Guarantee Act 1953
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QUEENSLAND TOBACCO LEAF MARKETING BOARD GUARANTEE.
No. 17 of 1953.
An Act to authorize the Commonwealth to Guarantee the Repayment of certain Loans to be made by the Commonwealth Bank of Australia to the Queensland Tobacco Leaf Marketing Board.
[Assented to 8th April, 1953.]
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 Queensland Tobacco Leaf Marketing Board Guarantee Act 1953.
Commencement.
- This Act shall come into operation on the day on which it receives the Royal Assent.
Definition.
- In this Act. “the Tobacco Leaf Marketing Board” means The Tobacco Leaf Marketing Board which was constituted by Order in Council made on the twenty-second day of July, One thousand nine hundred and forty-eight, under The Primary Producers’ Organisation and Marketing Acts, 1926 to 1946 of the State of Queensland.
Treasurer may guarantee loans to Board.
- The Treasurer may, for and on behalf of the Commonwealth, guarantee—
(a) the repayment to the Commonwealth Bank of Australia of any loans, not exceeding in the aggregate the sum of One hundred thousand pounds, that are, during the period of three months which commenced on the nineteenth day of March, One thousand nine hundred and fifty-three, made by that bank to the Tobacco Leaf Marketing Board; and
(b) the payment to that bank of interest on those loans.