War Loan Act 1916
1War Loan Act 1916
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WAR LOAN.
Image unavailable in extracted textNo. 22 of 1916.
An Act to authorize the Raising and Expending of the sum of Fifty Million Pounds for War purposes.
[Assented to 30th May, 1916]
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 and citation.
1 . This Act may be cited as the War Loan Act 1916.
Authority to borrow S50,000,000.
2. The Treasurer may from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1915, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the sum of Fifty million pounds.
Purposed for which money may be borrowed.
Image unavailable in extracted text3. The amount borrowed shall be issued and applied only for the expenses of borrowing and for War purposes.