Loans Redemption and Conversion Act 1921 (Cth)

Loans Redemption and Conversion Act 1921

Act No. 18 of 1921 as amended

This compilation was prepared on 19 March 2004 taking into account amendments up to Act No. 80 of 1950

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting, Attorney‑General's Department, Canberra

Contents 1 Short title [see Note 1] 2 Interpretation 3 Paying off, repurchasing, redeeming or converting loans 4 Authority to borrow certain moneys 5 Payment of principal, interest and conversion of securities 6 Purpose for which money may be borrowed 8 Regulations

Notes An Act to authorize the paying off, repurchasing, redeeming and converting of Loans and for other purposes

1 Short title [see Note 1]

This Act may be cited as the Loans Redemption and Conversion Act 1921.

2 Interpretation

In this Act, unless the contrary intention appears, loan includes Inscribed Stock, Registered Stock, Treasury Bills and any other securities issued by the Commonwealth in connexion with the raising of any loan.

3 Paying off, repurchasing, redeeming or converting loans

The Governor-General may authorize the Treasurer to pay off, repurchase or redeem any loan raised either before or after the commencement of this Act by the Commonwealth, or to convert any such loan into any other Commonwealth loan.

4 Authority to borrow certain moneys

The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1918, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow money necessary for the purpose of paying off, repurchasing or redeeming any loan in accordance with this Act.