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Treasury Bills Act 1914

Authoritative Version
  • - C2004C07717
  • In force - Superseded Version
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Act No. 33 of 1914 as amended, taking into account amendments up to Act No. 216 of 1973
An Act to authorize the Issue of Treasury Bills
Registered 08 Dec 2009
Start Date 31 Dec 1973
End Date 14 May 1979

TREASURY BILLS ACT 1914
- Reprinted as at 19 December 1973 (HISTACT2 CHAP 497 #DATE 19:12:1973)

TREASURY BILLS ACT 1914 - TABLE OF PROVISIONS

TABLE


TREASURY BILLS ACT 1914

TABLE OF PROVISIONS
Section
1. Short title
2. Definition
3. Power to make out and issue Treasury Bills
4. Conditions of issue
5. Transferable by delivery
6. Payment
7. Sale of Treasury Bills
8. Interest to cease
9. Defaced Bills may be exchanged
10. Lost or destroyed Treasury Bills
11. Trustees may invest
12. Destruction of discharged and defaced Bills
13. Forgery or uttering, &c.
13A. Copying of Treasury Bills forbidden
13B. Treasury Bills not to be used as advertisements, &c.
14. Forfeiture of forged documents
15. Regulations

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TREASURY BILLS ACT 1914 - SECT. 1.
Short title.

SECT

An Act to authorize the Issue of Treasury Bills.
Short title amended; No. 32, 1918, s. 2.
1. This Act may be cited as the Treasury Bills Act 1914.*

TREASURY BILLS ACT 1914 - SECT. 2.
Definition.

SECT

2. 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.

SECT

3. 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.

SECT

Amended by No. 25, 1915, s. 2; No. 93, 1966, s. 3; and No. 216, 1973, s. 3.
4. 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 thereby; 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.

SECT

5. Treasury Bills shall be transferable by delivery.

TREASURY BILLS ACT 1914 - SECT. 6.
Payment.

SECT

6. 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.

SECT

7. 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.

SECT

8. 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.
Section 8A repealed by No. 216, 1973, s. 3.
* * * * * * * *

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

SECT

9. (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.

SECT

Sub-section (1) amended by No. 216, 1973, s. 3.
10. (1) Where a Treasury Bill has been accidentally lost or destroyed before it has been paid off, the owner may make application to the High Court for a certificate under this section.
Amended by No. 216, 1973, s. 3.

(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.

SECT

11. 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.

SECT

12. 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. 13.
Forgery or uttering, &c.

SECT

13. (1) Any person who, with intent to defraud, forges, or utters knowing it to be forged-

(a) any Treasury Bill, or

(b) any coupon for the payment of money in respect of a Treasury Bill,
or has in his possession any forged Treasury Bill or coupon with intent to utter it, or makes or has in his possession any instrument or thing for the purpose of making any imitation of any descriptive mark or signature on any Treasury Bill or coupon for the payment of money in respect of a Treasury Bill, shall be guilty of an indictable offence.

Penalty: Imprisonment for ten years.

(2) Any person who, without lawful authority (proof whereof shall lie upon him)-

(a) makes, or has in his possession, any form of Treasury Bill, or

(b) makes, or has in his possession, any form of any coupon for the payment of money in respect of a Treasury Bill,
shall be guilty of an offence.

Penalty: Imprisonment for two years.

(3) In this section ''form'' in relation to any Treasury Bill or coupon includes any form resembling, or apparently intended to resemble or pass for, a form of a Treasury Bill or coupon.

TREASURY BILLS ACT 1914 - SECT. 13A.
Copying of Treasury Bills forbidden.

SECT

Inserted by No. 93, 1940, s. 2. Sub-section (1) amended by No. 93, 1966, s. 3.
13A. (1) A person shall not, without the authority of the Treasurer (proof whereof shall lie upon him) make or have in his possession-

(a) any copy of a Treasury Bill; or

(b) any writing, engraving, photograph or print resembling a Treasury bill or apparently intended to be or pass for a copy of a Treasury Bill.

Penalty: Two hundred dollars, or imprisonment for one year, or both.

(2) This section shall not affect the liability of any person to be proceeded against for any higher offence but a person so proceeded against shall not be punished twice in respect of the same offence.

(3) In this section ''copy of a Treasury Bill'' includes any representation or negative of a Treasury Bill in any size or on any scale, and includes a copy of a form of a Treasury Bill in any size or on any scale.

TREASURY BILLS ACT 1914 - SECT. 13B.
Treasury Bills not to be used as advertisements, &c.

SECT

Inserted by No. 93, 1940, s. 2; amended by No. 93, 1966, s. 3.
13B. A person shall not-

(a) make on, or attach to, any Treasury Bill any advertisement;

(b) design, make, issue or circulate any advertisement in the form of or apparently intended to resemble a Treasury Bill; or

(c) without lawful authority (proof whereof shall lie upon him) deface or disfigure any Treasury Bill by writing, printing, stamping or drawing anything thereon.

Penalty: Forty dollars.

TREASURY BILLS ACT 1914 - SECT. 14.
Forfeiture of forged documents.

SECT

Amended by No. 216, 1973, s. 3.
14. All forged instruments or documents, the forgery or uttering of which is punishable under this Act, and all forms, instruments and things made or had in possession in contravention of this Act shall be forfeited to the King, and may be seized by a Commonwealth Police Officer or a member of the Police Force of a State or a prescribed officer.

TREASURY BILLS ACT 1914 - SECT. 15.
Regulations.

SECT

15. 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.
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TREASURY BILLS ACT 1914 - NOTE


NOTE
1. The Treasury Bills Act 1914 comprises the Treasury Bills Act 1914 as amended by the other Acts specified in the following table:
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Number Date of
Act and year Date of
Assent commencement
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Treasury Bills Act 1914 No. 33, 1914 21 Dec 1914 21 Dec 1914
Treasury Bills Act 1915 No. 25, 1915 16 Aug 1915 16 Aug 1915
Treasury Bills Act 1940 No. 93, 1940 17 Dec 1940 14 Jan 1941
Statute Law Revision
(Decimal Currency) Act
1966 No. 93, 1966 29 Oct 1966 1 Dec 1966
Statute Law Revision Act
1973 No. 216, 1973 19 Dec 1973 31 Dec 1973
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