Federal Register of Legislation - Australian Government

Primary content

Treasury Bills Act 1914

  • - C2004C00298
  • In force - Superseded Version
  • View Series
Act No. 33 of 1914 as amended, taking into account amendments up to Act No. 193 of 1985
An Act to authorize the Issue of Treasury Bills
Administered by: Treasury
Start Date 16 Dec 1985
End Date 18 Apr 2011

TREASURY BILLS ACT 1914



Compilation Information

Treasury Bills Act 1914 Act No. 33 of 1914 as amended

This compilation was prepared on 23 October 2000
taking into account amendments up to Act No. 193 of 1985
The text of any of those amendments not in force
on that date is appended in the Notes section
Prepared by the Office of Legislative Drafting,
Attorney-General's Department, Canberra



Long Title

An Act to authorize the Issue of Treasury Bills

TREASURY BILLS ACT 1914
- SECT 1
Short title [see Note 1]

This Act may be cited as the Treasury Bills Act 1914.

TREASURY BILLS ACT 1914
- SECT 2
Definition

In this Act, unless the contrary intention appears:

Treasury Bill means a Treasury Bill under this Act and includes any coupon in connexion therewith.

TREASURY BILLS ACT 1914
- SECT 3
Power to make out and issue Treasury Bills

The Governor-General may authorize the Treasurer from time to time to make out and issue Treasury Bills for:

(a)
raising by way of loan any money, authority to borrow which is granted by any Act; and
(b)
paying any expenses of carrying this Act into effect which the Governor-General considers are properly payable out of capital.

TREASURY BILLS ACT 1914
- SECT 4
Conditions of issue

Each Treasury Bill shall:

(a)
be numbered consecutively, beginning with the number one and progressing arithmetically by units;
(b)
be signed by the Treasurer or some other person in that behalf appointed by the Governor-General;
(c)
be registered in the office of the Auditor-General;
(d)
bear date as the Governor-General directs;
(e)
bear interest payable at such intervals as are prescribed at a rate not exceeding five per centum per annum in respect of the principal money secured hereby; and
(f)
be redeemable at par on a date fixed by the Governor-General before the issue of the Treasury Bill reserving to the Treasurer the right after a date fixed by the Governor-General before the issue of the Treasury Bill to redeem the Treasury Bill at par upon such notice given in such time and manner as are prescribed.

TREASURY BILLS ACT 1914
- SECT 5
Transferable by delivery

Treasury Bills shall be transferable by delivery.

TREASURY BILLS ACT 1914
- SECT 6
Payment


Back to Top

The principal money secured by a Treasury Bill and the interest thereon:

(a)
shall be payable to bearer; and
(b)
shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated for the purpose.

TREASURY BILLS ACT 1914
- SECT 7
Sale of Treasury Bills

Treasury Bills may be issued and sold in such amounts and manner and at such prices and on such terms and conditions as the Governor-General directs.

TREASURY BILLS ACT 1914
- SECT 8
Interest to cease

Interest on Treasury Bills shall cease on the date or dates fixed by the Governor-General as the dates on which the Treasury Bills are redeemable.

TREASURY BILLS ACT 1914
- SECT 9
Defaced Bills may be exchanged

(1)
Where a Treasury Bill has been defaced by accident the Treasurer may permit it to be cancelled and a new Bill to be made out and issued in lieu thereof.

(2)
Such new Bill shall have the like currency, and be in all respects subject to the same rules, methods, and continuance, and bear the same number, date, and principal sum and rate of interest, as the cancelled Bill.

TREASURY BILLS ACT 1914
- SECT 10
Lost or destroyed Treasury Bills

(1)
Where a Treasury Bill has been accidentally lost or destroyed before it has been paid off, the owner may make application to the Federal Court of Australia for a certificate under this section.

(2)
If on the application the Court is satisfied by evidence that the Treasury Bill has been accidentally lost or destroyed and that the applicant is the owner thereof, it may give to the applicant a certificate that it is so satisfied.

(3)
Upon such certificate and upon the applicant giving security to the satisfaction of the Treasurer to indemnify the Commonwealth against double payment of the Treasury Bill, the Treasurer may, if he thinks fit, cause a new Bill to be made out and issued in lieu thereof.

(4)
Such new Bill shall have the like currency, and be in all respects subject to the same rules, methods, and continuance, and bear the same number, date, and principal sum and rate of interest, as the cancelled Bill.

TREASURY BILLS ACT 1914
- SECT 11
Trustees may invest

A trustee, executor, or administrator may invest any trust moneys in his hands in the purchase of Treasury Bills.

TREASURY BILLS ACT 1914
- SECT 12
Destruction of discharged and defaced Bills

Treasury Bills and coupons which are paid off and discharged and defaced Bills as aforesaid shall be burnt or otherwise destroyed in the presence of the Secretary to the Treasury and the Auditor-General, who shall forthwith sign a certificate showing that the Bills and coupons have been destroyed.

TREASURY BILLS ACT 1914
- SECT 15
Regulations

The Governor-General may make regulations, not inconsistent with this Act, prescribing all matters and forms which by this Act are required or permitted to be prescribed, or which are necessary or convenient to be prescribed, for carrying out this Act or for the conduct of any business relating to the issue, sale, transfer and dealing with Treasury Bills.


Back to Top

TREASURY BILLS ACT 1914
Notes to the Treasury Bills Act 1914

Note 1

The Treasury Bills Act 1914 as shown in this compilation comprises Act No. 33, 1914 amended as indicated in the Tables below.

Table of Acts


Act


Number
and year


Date
of Assent


Date of commencement


Application, saving or transitional provisions


Treasury Bills Act 1914


33, 1914


21 Dec 1914


21 Dec 1914



Treasury Bills Act 1915


25, 1915


16 Aug 1915


16 Aug 1915



Treasury Bills Act 1940


93, 1940


17 Dec 1940


14 Jan 1941



Statute Law Revision (Decimal Currency) Act 1966


93, 1966


29 Oct 1966


1 Dec 1966



Statute Law Revision Act 1973


216, 1973


19 Dec 1973


31 Dec 1973



Jurisdiction of Courts (Miscellaneous Amendments) Act 1979


19, 1979


28 Mar 1979


Parts II-XVII (ss. 3-123): 15 May 1979 (see Gazette 1979, No. S86)
Remainder: Royal Assent


S. 124


Australian Federal Police (Consequential Amendments) Act 1979


155, 1979


28 Nov 1979


19 Oct 1979 (see s. 2 andGazette 1979, No. S206)



Australian Federal Police (Consequential Amendments) Act 1980


70, 1980


28 May 1980


28 May 1980



Crimes (Currency) Act 1981


122, 1981


17 Sept 1981


Ss. 1-3: Royal Assent
Remainder: 16 Dec 1985 (see s. 2(2))



as amended by






Statute Law (Miscellaneous Provisions) Act (No. 2) 1985


193, 1985


16 Dec 1985


S. 3: (a)


S. 16


(a)

Back to Top

The Crimes (Currency) Act 1981 was amended by section 3 only of the Statute Law (Miscellaneous Provisions) Act (No. 2) 1985, subsections 2(1) and (7) of which provide as follows:

(1) Subject to this section, this Act shall come into operation on the day on which it receives the Royal Assent.
(7) The amendments of the Crimes (Currency) Act 1981 made by this Act (other than the amendment of section 2 of that Act) shall come into operation immediately after the amendment of section 2 of that Act made by this Act comes into operation.

Table of Amendments

ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted

Provision affected


How affected


S. 4


am. No. 25, 1915; No. 93, 1966; No. 216, 1973


S. 8A


ad. No. 25, 1915



rep. No. 216, 1973


S. 10


am. No. 216, 1973; No. 19, 1979


S. 13


rep. No. 122, 1981


Ss. 13A, 13B


ad. No. 93, 1940



am. No. 93, 1966



rep. No. 122, 1981


S. 14


am. No. 216, 1973; No. 155, 1979; No. 70, 1980



rep. No. 122, 1981