COMMONWEALTH HOUSING.

No. 10 of 1928.

An Act to amend the Commonwealth Housing Act 1927.

[Assented to 15th May, 1928.]

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.—(1.) This Act may be cited as the Commonwealth Housing Act 1928.

(2.) The Commonwealth Housing Act 1927 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Commonwealth Housing Act 1927-1928.

Commencement.

2. This Act shall commence on the same date as the Principal Act.

Conditions precedent to any advance.

3. Section nine of the Principal Act is amended—

(a) by adding at the end of sub-paragraph (i) of paragraph (b)the words “, or for the purpose of enlarging a dwelling house of which he is the owner;”

(b) by inserting at the commencement of sub-paragraph (iii) of paragraph (b) the words “except for the purpose of enlarging an existing dwelling house,”;

(c) by inserting in sub-paragraph (iii) of paragraph (b), after the word “loan” (second occurring),the words “and has not repaid it in full”;

(d) by inserting in sub-paragraph (iv) of paragraph (b), after the words “discharge of a mortgage”, the words “or for the purpose of enlarging a dwelling house,” and

(e) by adding at the end thereof the following sub-sections—

“(2) For the purposes of this section any reference to an amount lent or to a loan shall be read as including a reference to an amount used by an Authority for the purpose of a rent purchase agreement.

“(3.) In the case of an Authority which administers more than one housing scheme, it shall be sufficient for the purposes of this section if one of its housing schemes is in accordance with the provisions of this section.”.

Power of Commonwealth to borrow moneys to grant to Savings Bank.

4. Section ten of the Principal Act is amended by omitting sub-sections (3.) and (4.) and inserting in their stead the following sub-sections:—

“(3.) Advances made in pursuance of the last preceding sub-section shall bear such rate of interest and be subject to such terms and conditions of repayment as are agreed upon between the Treasurer and the Savings Bank.

“(4.) Pending the borrowing of moneys in pursuance of this Act, the Treasurer may from time to time advance to the Savings Bank, out of any moneys in the Commonwealth Public Account, sums not exceeding the moneys which the Treasurer is authorized to borrow in pursuance of this Act.

“(5.) For the purposes of sub-section (3.) of this section, all such advances shall be treated as if they were advances made under sub-section (2.) of this section.

“(6.) Any moneys so advanced shall be repayable to the Commonwealth Public Account from the proceeds of any loan raised in pursuance of this Act after the moneys have been advanced.”.