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Brief
The Guarantee of State and Territory Borrowing Appropriation Act 2009 is an Act of the Australian Parliament that provides for the appropriation of funds to repay claims under a deed of guarantee in relation to state and territory borrowings. The Act commences on the day it receives royal assent and applies within and outside Australia.
The Act appropriates the Consolidated Revenue Fund for the following purposes: (a) paying claims under the Deed of Guarantee in accordance with the Scheme Rules; and (b) repaying a borrowing, and paying interest on a borrowing, made under section 6. The Minister may borrow money on behalf of the Commonwealth for the purpose of making these payments.
The Act also establishes a Public Register of Government Borrowings, which must be maintained by electronic means and updated each month. The register records the beneficial ownership, by country, of all securities on issue by the Commonwealth of Australia and any Australian State or Territory guaranteed issuance.
The Governor-General may make regulations to carry out or give effect to this Act as necessary or convenient.
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