Government Loan Act 1986

Queensland Government Loan Act 1986 Current as at 10 November 1997 NOTE—This is the last reprint before repeal. Repealed by 2013 Act No. 39 s 42 Repealed on 23 September 2013

Information about this reprint This Act is reprinted as at 10 November 1997. The reprint shows the law as amended by all amendments that commenced on or before that day (Reprints Act 1992 s 5(c)). The reprint includes a reference to the law by which each amendment was made—see list of legislation and list of annotations in endnotes. Also see list of legislation for any uncommenced amendments. Minor editorial changes allowed under the provisions of the Reprints Act 1992 have been made to use aspects of format and printing style consistent with current drafting practice (s 35). This page is specific to this reprint. See previous reprint for information about earlier changes made under the Reprints Act 1992. A table of reprints is included in the endnotes. Also see endnotes for information about— • when provisions commenced • editorial changes made in earlier reprint. Spelling The spelling of certain words or phrases may be inconsistent in this reprint or with other reprints because of changes made in various editions of the Macquarie Dictionary (for example, in the dictionary, ‘lodgement’ has replaced ‘lodgment’). Variations of spelling will be updated in the next authorised reprint.

Queensland Government Loan Act 1986 Contents Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 Interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 Act to be read as one with the Commonwealth and States Financial Agreement Act 1927 . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Authority of State to make arrangements to raise a loan of $480000000 .................................... 4 5 Loans secured upon the consolidated fund . . . . . . . . . . . . . . . . . 4 6 Stock may be sold outside the State . . . . . . . . . . . . . . . . . . . . . . 5 7 When government stock deemed fully issued . . . . . . . . . . . . . . . 5 8 How sums borrowed to be accounted for . . . . . . . . . . . . . . . . . . . 5 9 Temporary advances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 10 Application of the Government Loans Redemption and Conversion Act 1923 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 11 Interest and sinking fund contributions to be a charge upon consolidated fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 12 Special provision as to stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Endnotes 1 2 3 4 5 6 7 Index to endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Date to which amendments incorporated. . . . . . . . . . . . . . . . . . . . . . Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tables in earlier reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . List of legislation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 7 8 8 8 9 9

Government Loan Act 1986 Government Loan Act 1986 [s 1] [as amended by all amendments that commenced on or before 10 November 1997] An Act to authorise the making of arrangements by the State pursuant to the provisions of the Commonwealth and States Financial Agreement Act 1927 for the raising of certain sums of money by way of loan by the State, and for other purposes 1 Short title This Act may be cited as the Government Loan Act 1986 . 2 Interpretation In this Act— financial agreement means the agreement between the Commonwealth and the States as approved and ratified by the Commonwealth and States Financial Agreement Act 1927 . government stock means any form of government stock or securities except inscribed stock, and includes debentures (including registered debentures and instalment debentures), Treasury bills and bonds (including registered bonds). inscribed stock means Queensland stock issued as provided by the Queensland Stock Inscription Act 1883 , government inscribed stock issued as provided by the Government Inscribed Stock Act 1920 and instalment stock, funded stock and stock payable to bearer. loan fund means the loan fund established under the Financial Administration and Audit Act 1977 . Reprint 1A Page 3

Government Loan Act 1986 [s 3] 3 Act to be read as one with the Commonwealth and States Financial Agreement Act 1927 This Act shall be read and construed with and subject to the provisions of the Commonwealth and States Financial Agreement Act 1927 and nothing in this Act shall derogate from the provisions of the financial agreement. 4 Authority of State to make arrangements to raise a loan of $480000000 (1) The Governor in Council is hereby authorised and empowered to make arrangements in accordance with and in the manner provided in the financial agreement for the raising by way of loan for the public service of the State of sums of money not exceeding in the whole the sum of $480000000 for expenditure upon public works and services which may hereafter be approved by Parliament to be defrayed out of moneys standing to the credit of the loan fund. (2) The authority to raise a sum in respect of which arrangements for the raising thereof are hereby authorised shall include the authority to raise additional sums as may be necessary to actually produce to the Treasury that sum after providing for all charges and expenses connected with the raising of the whole or part thereof. 5 Loans secured upon the consolidated fund (1) For the purpose of raising the whole or part of the sums referred to in section 4(1) the Governor in Council may subject to section 4(1) cause government stock or inscribed stock to be issued or created and delivered or sold. (2) All stock so issued or created and delivered or sold— (a) shall be secured upon the consolidated fund; and (b) shall bear interest at a rate fixed by the Governor in Council according as necessity demands; and (c) shall be repayable at a date or dates to be fixed by the Governor in Council. Page 4 Reprint 1A

Government Loan Act 1986 [s 6] 6 Stock may be sold outside the State The Governor in Council may for the purpose of raising the whole or part of the sums referred to in section 4(1) authorise the sale of government stock or inscribed stock outside the State, and may appoint an agent to negotiate the sale and to enter into and execute a contract therefor. 7 When government stock deemed fully issued Government stock purporting to be issued under the authority of this Act, if signed by the Governor and countersigned by the Treasurer, or if the issue purports to have been made in a place outside the State, signed as prescribed by the Governor in Council, shall be deemed to have been duly issued, and the holder thereof shall not be bound to inquire whether the issue was in fact duly authorised. 8 How sums borrowed to be accounted for Sums borrowed under the authority of this Act shall be paid to the Treasurer, and shall be placed by the Treasurer to the credit of the loan fund. 9 Temporary advances The Governor in Council may, pending the final disposal of any government stock or inscribed stock issued or created under the authority of this Act, obtain temporary advances from a corporation, financial institution or other source for such period and on such terms as to interest or otherwise as the Governor in Council thinks fit. 10 Application of the Government Loans Redemption and Conversion Act 1923 The provisions of the Government Loans Redemption and Conversion Act 1923 shall apply to the loan raised under the authority of this Act. Reprint 1A Page 5

Government Loan Act 1986 [s 11] 11 Interest and sinking fund contributions to be a charge upon consolidated fund All interest on sums borrowed under the authority of this Act, and all contributions payable to the sinking fund in respect of those sums and all sums of money necessary for the purchase of government stock issued and sold under the conditions in section 12 shall be a charge upon and payable out of the consolidated fund which is hereby appropriated accordingly. 12 Special provision as to stock (1) Government stock or inscribed stock issued or created and delivered or sold under the authority of this Act may, if the Governor in Council so directs, and subject to the provisions of the Commonwealth and States Financial Agreement Act 1927 , be issued or created and delivered or sold subject to the condition that a proportion of the principal moneys representing that stock shall be redeemed at stated intervals during the period of the currency of that stock, or to a condition that a certain amount shall be set apart at fixed periods for the purpose of purchasing that stock at a price and on the terms and conditions as the Governor in Council considers desirable. (2) Moneys so set apart may be payable to any financial institution or agent approved by the Governor in Council, to be defrayed by that financial institution or agent for the purpose aforesaid. Page 6 Reprint 1A

Endnotes Government Loan Act 1986 Endnotes 1 Index to endnotes Page 2 Date to which amendments incorporated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 3 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 4 Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 5 Tables in earlier reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 6 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 7 List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 2 Date to which amendments incorporated This is the reprint date mentioned in the Reprints Act 1992, section 5(c). Accordingly, this reprint includes all amendments that commenced operation on or before 10 November 1997. Future amendments of the Government Loan Act 1986 may be made in accordance with this reprint under the Reprints Act 1992, section 49. Reprint 1A Page 7

Government Loan Act 1986 Endnotes 3 Key Key to abbreviations in list of legislation and annotations Key AIA amd amdt ch def div exp gaz hdg ins lap notfd num o in c om orig p para prec pres prev Explanation = Acts Interpretation Act 1954 = amended = amendment = chapter = definition = division = expires/expired = gazette = heading = inserted = lapsed = notified = numbered = order in council = omitted = original = page = paragraph = preceding = present = previous Key (prev) proc prov pt pubd R[X] RA reloc renum rep (retro) rv s sch sdiv SIA SIR SL sub unnum Explanation = previously = proclamation = provision = part = published = Reprint No. [X] = Reprints Act 1992 = relocated = renumbered = repealed = retrospectively = revised edition = section = schedule = subdivision = Statutory Instruments Act 1992 = Statutory Instruments Regulation 2002 = subordinate legislation = substituted = unnumbered 4 Table of reprints Reprints are issued for both future and past effective dates. For the most up-to-date table of reprints, see the reprint with the latest effective date. If a reprint number includes a letter of the alphabet, the reprint was released in unauthorised, electronic form only. Reprint No. 1 1A Amendments to none 1997 Act No. 17 Effective 27 August 1986 1 July 1997 Reprint date 18 March 1996 10 November 1997 5 Tables in earlier reprints Name of table Changed names and titles Obsolete and redundant provisions Reprint No. 1 1 Page 8 Reprint 1A

Government Loan Act 1986 Endnotes 6 List of legislation Government Loan Act 1986 No. 30 date of assent 27 August 1986 commenced on date of assent amending legislation— Miscellaneous Acts (Non-bank Financial Institutions) Amendment Act 1997 No. 17 ss 1–2, 74 sch date of assent 15 May 1997 ss 1–2 commenced on date of assent remaining provisions commenced 1 July 1997 (1997 SL No. 163) 7 List of annotations Temporary advances s 9 amd 1997 No. 17 s 74 sch Special provision as to stock s 12 amd 1997 No. 17 s 74 sch © State of Queensland 2013 Authorised by the Parliamentary Counsel Reprint 1A Page 9