Loan (War Service Land Settlement) Act 1980

1 Short title

1. This Act may be cited as the Loan (War Service Land Settlement) Act 1980.

2 Commencement

2. This Act shall come into operation on the day on which it receives the Royal Assent.

3 Authority to borrow $3,000,000

3. The Treasurer may, from time to time, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911, or in accordance with the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole $3,000,000.

4 Application of moneys

4. Moneys borrowed under this Act shall be issued and applied only for the expenses of borrowing and for the purpose of financial assistance to South Australia and Western Australia in accordance with sub-section 2(1) of the States Grants (War Service Land Settlement) Act 1952.