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Direction Relating to Commonwealth Borrowing 2017

Authoritative Version
Directions/Financial as made
This instrument repeals the Direction Relating to Commonwealth Borrowing 2013 and limits the maximum total face value of Commonwealth Government Securities (CGS) that may be on issue to $600 billion.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 03
Registered 09 May 2017
Tabling HistoryDate
Tabled HR10-May-2017
Tabled Senate11-May-2017
Date of repeal 24 Mar 2020
Repealed by Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Direction 2020

crest_ministerial

DIRECTION RELATING TO COMMONWEALTH BORROWING

 

I, SCOTT JOHN MORRISON, 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 $600 billion.

 

This Direction replaces the previous Direction made under section 51JA of the CIS Act on 11 December 2013, which is repealed.   

 

 

Dated this 9th day of May 2017

 

 

SCOTT JOHN MORRISON
Treasurer of the Commonwealth of Australia