LOAN.

No. 12 of 1931.

An Act to authorize the Raising and Expending of a certain Sum of Money.

[Assented to 22nd July, 1931.]

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.

1.   This Act may be cited as the Loan Act 1931.

Treasure may borrow £15,000,000.

2.   The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1927, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of Fifteen million pounds.

Purpose for which money may be expended

3.   The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purpose set forth in the Schedule to this Act.

Date of commencement.

4.   This Act shall be deemed to have commenced on the thirtieth day of June One thousand nine hundred and thirty-one.

THE SCHEDULE.

No. 1.—To be paid into the Consolidated Revenue Fund....... £15,000,000