Capital Debt Charges Act 1957 (NSW)

Capital Debt Charges Act 1957 No 1

An Act to make uniform provisions as to interest and other capital debt charges to the Treasurer in accordance with the Closer Settlement Fund Act 1928 and certain other Acts; and for purposes connected therewith.

1 Name of Act This Act may be cited as the Capital Debt Charges Act 1957.

2 Definitions In this Act unless the context or subject-matter otherwise indicates or requires: Authority means a body corporate, corporation sole or Minister of the Crown named in the second column of the Schedule. Loan liability means any amount on which interest is payable to the Treasurer in pursuance of any of the Acts specified in the third column of the Schedule, and in respect of the State Mines Control Authority includes any amount advanced by the Treasurer to that Authority. Treasurer means the Colonial Treasurer.

3 This Act to prevail over inconsistent provisions Where the provisions of this Act are inconsistent with the provisions of any of the Acts specified in the third column of the Schedule the provisions of this Act shall prevail.

4 Payment of interest, sinking fund charges etc in respect of loan liabilities of certain authorities (1) Each authority named in the second column of the Schedule shall, as from the date set out in the first column of the Schedule opposite to the name of such authority, pay to the Treasurer in respect of its loan liability such amounts for interest, exchange, sinking fund contributions, flotation expenses, discount, loan management expenses and other charges as the Treasurer may from time to time determine: Provided that the amounts so determined in any year shall, unless the Treasurer otherwise directs, be the amounts chargeable in that year. (2) Without otherwise limiting the Treasurer's power of determination the amounts so determined under subsection (1) shall not exceed the amounts which the Treasurer calculates as being the amounts which shall approximately recoup the State for interest, exchange, sinking fund contributions, flotation expenses, discount, loan management expenses and other charges paid or payable by the State in respect of the loan liability of such authority. (3) Payments in accordance with the provisions of subsection (1) shall be made in such amounts and at such times as the Treasurer may from time to time direct.