Loan Act 2015
Loan Act 2015
Western Australia
Loan Act 2015
Contents
1.Short title2
2.Commencement2
3.Power to borrow for public purposes2
4.How sums borrowed are to be applied2
5.Principal, interest and expenses payable out of Consolidated Account2
Loan Act 2015
An Act to authorise the borrowing of eight billion dollars for public purposes.
[Assented to 25 June 2015]
The Parliament of Western Australia enacts as follows:
This is the Loan Act 2015.
This Act comes into operation on the day on which it receives the Royal Assent.
3.Power to borrow for public purposes
The Treasurer may borrow for public purposes, from the Western Australian Treasury Corporation or elsewhere, sums of money not exceeding $8 000 000 000 in aggregate.
4.How sums borrowed are to be applied
All sums borrowed under the authority of this Act are to be paid to the Treasurer and credited to the Consolidated Account.
5.Principal, interest and expenses payable out of Consolidated Account
The principal, interest and other expenses of borrowings under the authority of this Act are payable out of the Consolidated Account and that Account is appropriated accordingly by this section.
By Authority: JOHN A. STRIJK, Government Printer