Loan Act 2016
Loan Act 2016
Western Australia
Loan Act 2016
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 charged to Consolidated Account2
Loan Act 2016
An Act to authorise the borrowing of one billion and seven hundred million dollars for public purposes.
[Assented to 27 October 2016]
The Parliament of Western Australia enacts as follows:
This is the Loan Act 2016.
This Act comes into operation as follows —
(a)sections 1 and 2 — on the day on which this Act receives the Royal Assent;
(b)the rest of this Act — on the day after that day.
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 $1 700 000 000 in the 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 charged to Consolidated Account
The principal, interest and other expenses of borrowings under the authority of this Act are charged to the Consolidated Account and that Account is appropriated accordingly by this section.
By Authority: JOHN A. STRIJK, Government Printer