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Direction Relating to Commonwealth Borrowing 2013

Authoritative Version
Directions/Financial as made
This instrument directs that the maximum face value of relevant stock and securities that may be on issue under the Commonwealth Inscribed Stock Act 1911 and the Loans Securities Act 1919 is $500 billion.
Administered by: Treasury
General Comments: This direction replaces the Direction relating to Commonwealth Borrowing made under section 51JA of the Commonwealth Inscribed Stock Act 1911 on 9 August 2012.
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 03
Registered 22 Jan 2014
Tabling HistoryDate
Tabled HR11-Feb-2014
Tabled Senate11-Feb-2014
Date of repeal 10 May 2017
Repealed by Direction Relating to Commonwealth Borrowing 2017

DIRECTION RELATING TO COMMONWEALTH BORROWING

 

I, JOSEPH BENEDICT HOCKEY, Treasurer of the Commonwealth of Australia, give this Direction under section 51JA of the Commonwealth Inscribed Stock Act 1911 (‘the CIS Act’).  

 

This Direction applies to the persons to whom powers under section 3A of the CIS Act have been delegated.  Delegates are required to comply with this Direction.

 

Commonwealth borrowing

 

The Commonwealth can borrow to meet budgetary needs, and it can also borrow for policy purposes.

 

Maximum total face value of stock and securities that may be on issue

 

Pursuant to subsection 51JA(2) of the CIS Act, I direct that the maximum total face value of stock and securities that may be on issue is $500 billion.

 

This Direction replaces the previous Direction made under section 51JA of the CIS Act on 9 August 2012.   

 

 

Dated this 11th day of December 2013

 

 

JOSEPH BENEDICT HOCKEY
Treasurer of the Commonwealth of Australia