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Housing Loans Guarantees (Northern Territory) Act 1959

Act No. 47 of 1959

This Act was prepared on 30 April 2002

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

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



Contents
           1     Short Title [see Note 1]    1
           2     Commencement [see Note 1]   1
           3     Interpretation   1
           4     Treasurer may guarantee loans     1
           5     Delegation by Treasurer     2

Notes 3

An Act to facilitate the Borrowing of Money by Co-operative Building
Societies and Housing Authorities of the Northern Territory of Australia

1  Short Title [see Note 1]

            This Act may be cited as the Housing Loans Guarantees (Northern
         Territory) Act 1959.

2  Commencement [see Note 1]

            This Act shall come into operation on the day on which it
         receives the Royal Assent.

3  Interpretation

      (1)   In this Act, loan includes an advance by way of overdraft.

      (2)   In this Act, a reference to an Ordinance shall be deemed:
      (a)   if that Ordinance is amended-to be a reference to that
             Ordinance as amended; or
      (b)   if that Ordinance is repealed and remade, with or without
             modifications, by another Ordinance-to be a reference to that
             other Ordinance.

4  Treasurer may guarantee loans

      (1)   The Treasurer may, on behalf of the Commonwealth, guarantee the
         repayment to the lender of a loan (including interest on the loan)
         made to:
      (a)   a co-operative building society registered under a law of the
             Northern Territory of Australia relating to co-operative
             societies;
      (b)   the Commissioner for Housing holding office under the Housing
             Loans Ordinance 1949-1956 of the Northern Territory of
             Australia; or
      (c)   the Housing Commission constituted by the Housing Ordinance
             1959 of the Northern Territory of Australia.

      (2)   The terms and conditions of the guarantee shall be as agreed to
         between the Treasurer and the lender.

5  Delegation by Treasurer

      (1)   The Treasurer may, by instrument in writing, delegate to a
         person, either generally or otherwise as provided in the instrument
         of delegation, all or any of his powers and functions under this
         Act (except this power of delegation) so that the delegated powers
         and functions may be exercised and performed by the delegate in
         accordance with the instrument of delegation.

      (2)   A delegation under this section is revocable at will and does
         not prevent the exercise of a power or the performance of a
         function by the Treasurer.
Notes to the Housing Loans Guarantees (Northern Territory) Act 1959

Note 1


Act No. 47, 1959; assented to and commenced 22 May 1959.