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Brief
The Loan (War Service Land Settlement) Act 1980
The Loan (War Service Land Settlement) Act 1980 was an Australian federal law enacted to authorize the raising and expending of a sum not exceeding $3,000,000 for a defence purpose. The main focus of this act was on providing financial assistance to South Australia and Western Australia in connection with war service land settlement.
The act gave authority to the Treasurer to borrow up to $3,000,000 under the Commonwealth Inscribed Stock Act 1911 or as per other Acts authorizing the issue of Treasury Bills. The moneys borrowed under this Act were specifically earmarked for expenses related to borrowing and financial assistance to South Australia and Western Australia.
The act was assented on March 24, 1980, making it operational upon its reception of the Royal Assent.
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