This content is restricted.
Brief
The Loan Act 1979 is an Australian legislation that authorizes the borrowing and expending of moneys for defence purposes. The Act allows the Treasurer to borrow a maximum of $1,800,000,000 during the financial year ending on 30 June 1980. Moneys borrowed under this Act can only be used for specific expenses, including the expenses of borrowing and services related to the Department of Defence.
The Act also sets limitations on expenditure, stating that nothing in the Act or other referenced Acts shall authorize expenditure exceeding the total amounts authorized by those Acts for a particular service. The Act does not affect the expenditure of moneys appropriated under the heading "Advance to the Minister for Finance" in an Act referred to in section 4.
The Loan Act 1979 comes into operation on the day it receives the Royal Assent and is expected to have effect subject to section 5 of this Act. The legislation was assented to by the Queen, the Senate, and the House of Representatives of the Commonwealth of Australia on October 17, 1979.
Highlights content goes here...
This content is restricted.
RADA.AI
Hello! I'm RADA.AI - Regulatory Analysis and Decision Assistance. Your Intelligent guide for compliance and decision-making. How can i assist you today?
Suggested
