Commonwealth Securities and Investment Legislation Amendment Act 2008 (Cth)

Commonwealth Securities and Investment Legislation Amendment Act 2008

No. 78, 2008

An Act to amend the law in relation to Commonwealth borrowing, and Commonwealth securities and investments, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Commonwealth borrowing, and Commonwealth securities and investments

Part 1—Amendments Commonwealth Inscribed Stock Act 1911 Financial Management and Accountability Act 1997 Loans Securities Act 1919

Part 2—Application

Commonwealth Securities and Investment Legislation Amendment Act 2008

No. 78, 2008

An Act to amend the law in relation to Commonwealth borrowing, and Commonwealth securities and investments, and for related purposes

[Assented to 12 July 2008]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Commonwealth Securities and Investment Legislation Amendment Act 2008.

2 Commencement

This Act commences on the day after it receives the Royal Assent.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Commonwealth borrowing, and Commonwealth securities and investments

Part 1—Amendments

Commonwealth Inscribed Stock Act 1911

1 Before section 4 Insert:

3A Authority to borrow

(1) The Treasurer may, from time to time, borrow money on behalf of the Commonwealth by issuing stock denominated in Australian currency.

(2) Nothing in this section affects the power of the Treasurer under any other Act to borrow money on behalf of the Commonwealth, or to issue stock or securities under this or any other Act in relation to those borrowings.

2 At the end of subsection 4(1) Add: ; or (d) lending by the Treasurer under securities lending arrangements under section 5BA of the Loans Securities Act 1919.