Loans Redemption and Conversion Act 1921

The Loans Redemption and Conversion Act 1921 is an Australian Act that authorizes the paying off, repurchasing, redeeming, and converting of loans raised by the Commonwealth. The Act may be cited as the Loans Redemption and Conversion Act 1921.

This Act defines "loan" to include inscribed stock, registered stock, treasury bills, and any other securities issued by the Commonwealth in connection with the raising of any loan. The Governor-General has the authority to pay off, repurchase or redeem loans raised either before or after the commencement of this Act, or to convert such loans into any other Commonwealth loan.

The Treasurer may borrow money necessary for the purpose of paying off, repurchasing or redeeming loans in accordance with this Act under the provisions of the Commonwealth Inscribed Stock Act 1911-1918 or under the provisions of any Act authorizing the issue of Treasury Bills. The principal moneys borrowed in accordance with this Act, interest thereon and costs of converting loans shall be a charge on and payable out of the Consolidated Revenue Fund.

The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purpose of paying off, repurchasing or redeeming loans. Regulations may be made by the Governor-General to prescribe all matters required or permitted to be prescribed under this Act.

This compilation comprises Act No. 18, 1921 amended as indicated in the Tables below. It takes into account amendments up to Act No. 80 of 1950 and notes that any provisions not in force on the date of preparation have been appended in the Notes section.