Loan Act 1938

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Loan Act 1938

- C1938A00001
No longer in force
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Act No. 1 of 1938 as made

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

Date of Assent	06 May 1938

Date of repeal	31 Dec 1950
Repealed by	Statute Law Revision Act 1950

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LOAN.

No. 1 of 1938.

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

[Assented to 6th May, 1938.]

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 1938.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Authority to borrow £10,300,000.

3. The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911–1933, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of Ten million three hundred thousand pounds.

Purpose for which money may be expended.

4. The amount borrowed may be issued and applied for the expenses of borrowing and for the purposes set forth in the Schedule to this Act.

Section 4 THE SCHEDULE.

—	Appropriated by this Act.
DEPARTMENT OF DEFENCE.	£
Navy
Under Control of Department of Defence.
Naval construction and additions to fleet............................................................	1,750,000
Reserves of stores, including ammunition, ordnance, torpedo stores and fuel oil.......	135,000
Naval establishments—
Machinery and plant and Wireless Telegraphy equipment..............................	60,000
Equipment for port defence...........................................................................	345,000
Under Control of Department of the Interior
Buildings, works and sites...................................................................................	300,000
Total Navy...............................................................	2,590,000
Army.
Under Control of Department of Defence.
Coast defences—equipment and works..............................................................	80,000
Arms, armament and ammunition, mechanization and equipment and reserves..	1,645,000
Defence Works—Darwin....................................................................................	20,000
Under Control of Department of the Interior.
Buildings, works and sites...................................................................................	210,000
Total Army..............................................................	1,955,000
Air Force.
Under Control of Department of Defence.
Landplane and seaplane equipment and plant, including spare parts, machinery, tools, ordnance and engineering supplies and ammunition......................................................	2,345,000
Warlike stores and equipment.............................................................................	350,000
Under Control of Department of the Interior.
Buildings, works and sites...................................................................................	1,020,000
Total Air Force........................................................	3,715,000
Munitions Supply Branch.
Under Control of Department of Defence.
Machinery and plant for manufacture of munitions............................................	450,000
Under Control of Department of the Interior.
Buildings, works and sites...................................................................................	570,000
Total Munitions Supply Branch..............................	1,020,000
Principal Supply Officers Committee.
Under Control of Department of Defence.
Armament annexes, plant, materials and experimental work...............................	720,000
Total Department of Defence.....................................................	10,000,000

Federal Register of Legislation - Australian Government

Primary content

Loan Act 1938