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Commonwealth act
This Act has been repealed and is no longer in force. It is retained for historical reference.
This is a short, century-old piece of Commonwealth financial legislation that allowed the Australian Government to act as a financial middleman between international money markets and the individual States.
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Direct links to the current provisions in States Loan Act 1925.
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View on official registerSourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This Act is an early example of the Commonwealth centralising Australian public debt management — a process that accelerated through the 1920s and was formalised by the Financial Agreement of 1927 and the creation of the Australian Loan Council. It reflects the post-World War I push to rationalise Australia's fragmented State-by-State borrowing, which was seen as inefficient and costly. Historically, it shows how Federation-era financial arrangements were gradually knitted together under Commonwealth control.