Federal Register of Legislation - Australian Government

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Loan (Temporary Revenue Deficits) Act 1953

Authoritative Version
Act No. 21 of 1953 as amended, taking into account amendments up to Act No. 8 of 2005
An Act to make Provision with respect to Temporary Deficits in the Consolidated Revenue Fund
Administered by: Treasury
Registered 01 Mar 2005
Start Date 22 Feb 2005
Table of contents.

Loan (Temporary Revenue Deficits) Act 1953

Act No. 21 of 1953 as amended

This compilation was prepared on 28 February 2005
taking into account amendments up to Act No. 8 of 2005

The text of any of those amendments not in force
on that date is appended in the Notes section

The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing,
Attorney-General’s Department, Canberra

  

  

  


Contents

1............ Short Title [see Note 1]....................................................................... 1

2............ Commencement [see Note 1].............................................................. 1

4............ Authority to borrow money................................................................ 1

5............ Repayment of Loan............................................................................. 1

7............ Borrowing to be subject to the Financial Agreement........................... 1

Notes                                                                                                                                               3

 


An Act to make Provision with respect to Temporary Deficits in the Consolidated Revenue Fund

1  Short Title [see Note 1]

                   This Act may be cited as the Loan (Temporary Revenue Deficits) Act 1953.

2  Commencement [see Note 1]

                   This Act shall be deemed to have come into operation on the first day of July, One thousand nine hundred and fifty.

4  Authority to borrow money

                   Whenever the amounts in the Consolidated Revenue Fund are, or are expected by the Treasurer to be, insufficient to meet expenditure from that Fund, the Treasurer may, under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding the amount of the insufficiency or expected insufficiency.

5  Repayment of Loan

                   Moneys borrowed by virtue of the last preceding section shall be repaid in the financial year in which they were borrowed.

7  Borrowing to be subject to the Financial Agreement

             (1)  Nothing in this Act authorizes the borrowing of money or the issue of securities otherwise than in accordance with clause six of the Financial Agreement.

             (2)  In this section, the Financial Agreement has the same meaning as in section four of the Financial Agreement Act 1944.

 


Notes to the Loan (Temporary Revenue Deficits) Act 1953

Note 1

The Loan (Temporary Revenue Deficits) Act 1953 as shown in this compilation comprises Act No. 21, 1953 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

Loan (Temporary Revenue Deficits) Act 1953

21, 1953

9 Apr 1953

1 July 1950

 

National Debt Sinking Fund Act 1966

65, 1966

29 Oct 1966

1 July 1966

Administrative Changes (Consequential Provisions) Act 1978

36, 1978

12 June 1978

12 June 1978

Audit (Transitional and Miscellaneous) Amendment Act 1997

152, 1997

24 Oct 1997

Schedule  2 (item 902): 1 Jan 1998 (see Gazette 1997, No. GN49) (a)

Financial Framework Legislation Amendment Act 2005

8, 2005

22 Feb 2005

Schedule 1 (items 13–15): Royal Assent


(a)     The Loan (Temporary Revenue Deficits) Act 1953 was amended by Schedule 2 (item 902) only of the Audit (Transitional and Miscellaneous) Amendment Act 1997, subsection 2(2) of which provides as follows:

                 (2)   Schedules 1, 2 and 4 commence on the same day as the Financial Management and Accountability 1997.


Table of Amendments

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

Provision affected

How affected

S. 3....................................

am. No. 36, 1978; No. 152, 1997

 

rep. No. 8, 2005

S. 4....................................

am. No. 8, 2005

S. 6....................................

rep. No. 65, 1966