Treasury Bills Act 1914 (Cth)

Treasury Bills Act 1914

Act No. 33 of 1914 as amended

This compilation was prepared on 19 April 2011 taking into account amendments up to Act No. 5 of 2011

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 and Publishing, Attorney‑General's Department, Canberra

Contents 1 Short title [see Note 1] 2 Definition 3 Power to make out and issue Treasury Bills 4 Conditions of issue 5 Transferable by delivery 6 Payment 7 Sale of Treasury Bills 8 Interest to cease 9 Defaced Bills may be exchanged 10 Lost or destroyed Treasury Bills 11 Trustees may invest 12 Destruction of discharged and defaced Bills 15 Regulations

Notes An Act to authorize the Issue of Treasury Bills

1 Short title [see Note 1]

This Act may be cited as the Treasury Bills Act 1914.

2 Definition

In this Act, unless the contrary intention appears:

Treasury Bill means a Treasury Bill under this Act and includes any coupon in connexion therewith.

3 Power to make out and issue Treasury Bills

The Governor‑General may authorize the Treasurer from time to time to make out and issue Treasury Bills for: (a) raising by way of loan any money, authority to borrow which is granted by any Act; and (b) paying any expenses of carrying this Act into effect which the Governor‑General considers are properly payable out of capital.

4 Conditions of issue

Each Treasury Bill shall: (a) be numbered consecutively, beginning with the number one and progressing arithmetically by units; (b) be signed by the Treasurer or some other person in that behalf appointed by the Governor‑General; (c) be registered in the office of the Auditor‑General; (d) bear date as the Governor‑General directs; (e) bear interest payable at such intervals as are prescribed at a rate not exceeding five per centum per annum in respect of the principal money secured hereby; and (f) be redeemable at par on a date fixed by the Governor‑General before the issue of the Treasury Bill reserving to the Treasurer the right after a date fixed by the Governor‑General before the issue of the Treasury Bill to redeem the Treasury Bill at par upon such notice given in such time and manner as are prescribed.