Western Australia

Loan Act 2004

Western Australia

Loan Act 2004

CONTENTS

1.           Short title                                                                         1

2.           Commencement                                                               1

3.           Power to borrow money for public purposes                       2

4.           How sums borrowed are to be applied                               2

5.           Principal, interest and expenses payable out of Consolidated Fund             2

Western Australia

Loan Act 2004

No. 13 of 2004

A Bill for An Act to authorise the borrowing of a sum of two hundred and fifty million dollars for public purposes.

[Assented to 30 June 2004]

The Parliament of Western Australia enacts as follows:

1.           Short title

             This Act may be cited as the Loan Act 2004.

2.            Commencement

             This Act comes into operation on the day on which it receives the Royal Assent.

3.           Power to borrow money for public purposes

             The Governor may borrow sums of money, not exceeding in the aggregate the sum of $250 000 000, from the Western Australian Treasury Corporation or elsewhere, for public purposes.

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 Fund.

5.           Principal, interest and expenses payable out of Consolidated Fund

             The principal moneys, interest and other expenses of borrowings under the authority of this Act are payable out of the Consolidated Fund and that Fund is appropriated accordingly by this section.