Federal Register of Legislation - Australian Government

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Loan Act 1982

Act No. 32 of 1982 as made
Date of Assent 26 May 1982
Date of repeal 03 Jul 1985
Repealed by Statute Law (Miscellaneous Provisions) Act (No. 1) 1985
 

LOAN ACT 1982 No. 32, 1982

LOAN ACT 1982 No. 32, 1982 - SECT. 1.
Short title.

purposes

(Assented to 26 May 1982)

Short title

1. This Act may be cited as the Loan Act 1982.

LOAN ACT 1982 No. 32, 1982 - SECT. 2.
Commencement


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

LOAN ACT 1982 No. 32, 1982 - SECT. 3.
Authority to borrow


3. The Treasurer may, from time to time during the financial year ending on 30 June 1982, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911, or in accordance with the provisions of an Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the aggregate $300,000,000.

LOAN ACT 1982 No. 32, 1982 - SECT. 4.
Application of moneys borrowed


4. Moneys borrowed under section 3 shall be applied only for the expenses of borrowing and for services specified under the heading ''DEPARTMENT OF DEFENCE'' in the Appropriation Act (No. 1) 1981-82 or in an Act passed after the commencement of this Act that appropriates a sum out of the Consolidated Revenue Fund, additional to the sum appropriated by that first-mentioned Act, for the service of the year ending on 30 June 1982.

LOAN ACT 1982 No. 32, 1982 - SECT. 5.
Limitation of expenditure


5. (1) Nothing in this Act or in an Act referred to in section 4 shall be taken to authorize the expenditure for a service referred to in section 4 of an amount the expenditure of which would result in the total expenditure for that service under this Act and the Acts referred to in section 4 exceeding the total of the amounts authorized by the Acts referred to in section 4 to be expended in respect of that service.

(2) Sub-section (1) does not affect the expenditure of moneys appropriated under the heading ''ADVANCE TO THE MINISTER FOR FINANCE'' in an Act referred to in section 4.

(3) Nothing in this Act shall be taken to authorize expenditure (otherwise than for the expenses of borrowing) after 30 June 1982.