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National Debt Sinking Fund Act 1925

Authoritative Version
  • - C1925A00003
  • No longer in force
Act No. 3 of 1925 as made
An Act to amend the National Debt Sinking Fund Act 1923-1924.
Date of Assent 08 Jul 1925
Date of repeal 01 Jul 1966
Repealed by National Debt Sinking Fund Act 1966

NATIONAL DEBT SINKING FUND.

 

No. 3 of 1925.

An Act to amend the National Debt Sinking Fund Act 1923–1924.

[Assented to 8th July, 1925.]

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 National Debt Sinking Fund Act 1925.

(2.)  The National Debt Sinking Fund Act 1923–1924 is in this Act referred to as the Principal Act.

(3.)  The Principal Act, as amended by this Act, may be cited as the National Debt Sinking Fund Act 1923–1925.

Commencement.

2.   This Act shall be deemed to have commenced on the first day of March One thousand nine hundred and twenty-five.

Payments to the Sinking Fund.

3.   Section nine of the Principal Act is amended—

(a) by omitting from paragraph (c) of subsection (1.) thereof the words “or (f) of this subsection” and inserting in their stead the words “,(f), (g) or (h) of this subsection, and under section nine a of this Act”;

(b) by omitting from paragraph (e) of subsection (1.) thereof the word “and” (last occurring); and

(c) by inserting after paragraph (f) of subsection (1.) thereof the following paragraphs:—

“(g) all moneys received in respect of reparations under the Treaty of Peace with Germany; and

(h) all moneys received from the States as Sinking Fund contributions in respect of loans made by the Commonwealth to the States.”.

4.   After section nine of the Principal Act the following section is inserted:—

Additional payment to the Sinking Fund.

9a.  The Treasurer may in any financial year pay out of the Consolidated Revenue Fund, which is hereby appropriated for the purpose, into the National Debt Sinking Fund such sum as he may determine in addition to those specified in the last preceding section.”.

5.   Section eleven of the Principal Act is repealed and the following section is inserted in its stead:—

Appropriation of money.

“11.  All moneys payable into the National Debt Sinking Fund in pursuance of subsection (1.) of section nine of this Act, excepting moneys payable in pursuance of paragraphs (d), (e), (f), (g) and (h) of that section, shall be paid out of the Consolidated Revenue Fund, which is hereby appropriated for the purpose.”.