PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975 NO. 99, 1975 

PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975 NO. 99, 1975 
- TABLE OF PROVISIONS

1. Short title.  
2. Commencement.  
3. Guarantee.  
4. Appropriation.  

PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975 No. 99, 1975
- SECT 1
Short title.

                PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975
                                 No. 99 of 1975

An Act to provide for a Statutory Guarantee by Australia in respect of the
repayment, on and after the date on which Papua New Guinea attains
Independence, of certain Public Loans raised before that date by the
Government of Papua New Guinea.

  BE IT ENACTED by the Queen, the Senate and the House of Representatives of
Australia, as follows:-
  1. This Act may be cited as the Papua New Guinea Loans Guarantee Act 1975.*

PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975 No. 99, 1975
- SECT 2
Commencement.

  2. This Act shall come into operation on 16 September 1975.

PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975 No. 99, 1975
- SECT 3
Guarantee.

  3. (1) Notwithstanding the repeal of section 75A of the Papua New Guinea Act
1949-1975 by the Papua New Guinea Independence Act 1975, the guarantee deemed
to have been given by Australia under that section in respect of the repayment
of moneys borrowed in Australian currency before the date of commencement of
this Act and the payment of interest in respect of those moneys shall, by
force of this section, continue in force.
  (2) For the purposes of the guarantee so continued in force, the liabilities
of the Government of Papua New Guinea immediately before the date of
commencement of this Act shall be deemed, on and after that date, to be
liabilities of the Government of the Independent State of Papua New Guinea.

PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975 No. 99, 1975
- SECT 4
Appropriation.

  4. Any amount payable by Australia in pursuance of this Act is payable out
of the Consolidated Revenue Fund, which is appropriated accordingly.
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PAPUA NEW GUINEA LOANS GUARANTEE ACT 1975 No. 99, 1975 - NOTE

                                      NOTE
1.  Act No. 99, 1975; assented to 9 September 1975.