Trust Fund Advances Act 1910 (No. 2)
1Trust Fund Advances Act 1910 (No. 2)
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TRUST FUND ADVANCES (No. 2).
No. 15 of 1910.
An Act to authorize a Temporary Advance from the Trust Fund to the Consolidated Revenue Fund.
[Assented to 21st October, 1910.]
BE it enacted by the King’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 Trust Fund Advances Act 1910 (No. 2).
Advance from Trust Fund.
- There may be advanced from the Trust Fund for the purposes of the Revenue out of moneys not held for the purposes of the Reserve mentioned in section nine of the Australian Notes Act 1910 an amount not exceeding One million five hundred thousand pounds.
Repayment of advance.
3.—(1.) Any amount so advanced shall be repaid to the Trust Fund with interest at the rate of three per centum per annum on or before the thirtieth day of June One thousand nine hundred and eleven and the Consolidated Revenue Fund is hereby appropriated for that purpose accordingly.
(2.) The interest payable in pursuance of this section shall be paid to and form part of the Australian Notes Account.
Act not to affect reserves.
- Nothing in this Act shall affect any obligation on the part of the Treasurer to hold any reserve which he is by law required to hold in relation to any Trust Account or any part of the Trust Fund.