STATES GRANTS (HOUSING ASSISTANCE) ACT (NO. 2) 1973 NO. 152, 1973 STATES GRANTS (HOUSING ASSISTANCE) ACT (NO. 2) 1973 NO. 152, 1973 - TABLE OF PROVISIONS 1. Short title. 2. Commencement. 3. Repeal. 4. Advances to States for year 1973-74. 5. Authority to borrow. 6. Advances made before commencement of Act. 7. Advances to States for year 1974-75. 8. Advances to States to be made out of Consolidated Revenue Fund or Loan Fund. 9. Application of money borrowed. 10. Reimbursement of Consolidated Revenue Fund from Loan Fund. 11. Appropriations. SCHEDULE STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 1 Short title. with Housing and to Authorize the Borrowing of Certain Moneys by the Treasurer. 1. This Act may be cited as the States Grants (Housing Assistance) Act (No. 2) 1973.* STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 2 Commencement. 2. This Act shall come into operation on the day on which it receives the Royal Assent.* STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 3 Repeal. 3. The States Grants (Housing Assistance) Act 1973 (in this Act referred to as ''the repealed Act'') is repealed. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 4 Advances to States for year 1973-74. 4. The Treasurer may, during the period commencing on the date of commencement of this Act and ending on 30 June 1974, make advances to a State, in accordance with an agreement with that State executed in pursuance of the Housing Agreement Act 1973, of amounts not exceeding in the aggregate the amount specified in the First Column in the Schedule opposite to the name of that State. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 5 Authority to borrow. 5. (1) Subject to sub-section (2), the Treasurer may, during the period commencing on the date of commencement of this Act and ending on 31 December 1974, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911-1966, or in accordance with the provisions of an Act authorizing the issue of Treasury Bills, borrow money not exceeding in the aggregate Three hundred and twenty-seven million nine hundred and seventy-five thousand dollars. (2) The aggregate amount of moneys that may be borrowed under sub-section (1) is reduced by the sum of any amounts borrowed by the Treasurer in accordance with section 5 of the repealed Act for the purpose of making payments to the States in accordance with section 3 of that Act. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 6 Advances made before commencement of Act. 6. (1) An advance that was made to a State under section 3 of the repealed Act before the commencement of this Act shall be deemed to have been a payment made to that State under section 4 of this Act. (2) An advance that was made to a State under section 5 of the Financial Agreement Act 1928 on or after 1 July 1973, and before the commencement of this Act, shall, if the Treasurer, with the concurrence of the State, so determines, be deemed to have been a payment made to a State under section 4 of this Act. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 7 Advances to States for year 1974-75. 7. The Treasurer may, during the period of six months commencing on 1 July 1974, make advances to a State, in accordance with an agreement with that State executed in pursuance of the Housing Agreement Act 1973, of amounts not exceeding in the aggregate the amount specified in the Second Column in the Schedule opposite to the name of that State. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 8 Advances to States to be made out of Consolidated Revenue Fund or Loan Fund. 8. Advances to a State under section 4 or section 7 may be made out of the Consolidated Revenue Fund or the Loan Fund. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 9 Application of money borrowed. 9. Moneys borrowed under section 5 of this Act, and moneys borrowed under section 5 of the repealed Act and not applied before the commencement of this Act, shall be issued and applied only for the expenses of borrowing, for the purpose of making advances to the States in accordance with section 4 and section 7 of this Act and for the purpose of making payments to the Consolidated Revenue Fund in accordance with section 10. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 10 Reimbursement of Consolidated Revenue Fund from Loan Fund. 10. (1) Where an amount has been paid out of the Consolidated Revenue Fund under this Act or under the repealed Act, the Treasurer may authorize the payment to that Fund, out of the Loan Fund, of an amount not exceeding the amount so paid. (2) In any statement of the receipts and expenditure, or of the expenditure, of the Consolidated Revenue Fund prepared by the Treasurer under section 49 or section 50 of the Audit Act 1901-1969, amounts paid to the Consolidated Revenue Fund under sub-section (1) of this section or under sub-section 7 (1) of the repealed Act shall not be shown as receipts of that Fund, but shall be shown as having reduced the total of the amounts expended from that Fund under this Act or the repealed Act. (3) Where there has been a payment from the Loan Fund to the Consolidated Revenue Fund under sub-section (1) in respect of an amount paid out of the Consolidated Revenue Fund under this Act or the repealed Act, the amount so paid out of the Consolidated Revenue Fund, shall, for the purposes of sections 9 and 10 of the National Debt Sinking Fund Act 1966-1967, be deemed to have been paid out of the Loan Fund. STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SECT 11 Appropriations. 11. The Consolidated Revenue Fund and the Loan Fund are appropriated as necessary for the purposes of this Act. ----------- STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - SCHEDULE SCHEDULE Section 4 and 7 -------------------------------------------------------------------------------- First Second Column Column 1973-74 1974-75 -------------------------------------------------------------------------------- $ million $ million New South Wales . . . . . . . . . . . . . . . . . . . . 86.00 43.000 Victoria . . . . . . . . . . . . . . . . . . . . . . . . 53.50 26.750 Queensland . . . . . . . . . . . . . . . . . . . . . . . 17.40 8.700 South Australia . . . . . . . . . . . . . . . . . . . . 32.75 16.375 Western Australia . . . . . . . . . . . . . . . . . . . 13.00 6.500 Tasmania . . . . . . . . . . . . . . . . . . . . . . . . 16.00 8.000 ---------------------- Total . . . . . . . . . . . . . . . . . . . . . . . . 218.65 109.325 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- STATES GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1973 No. 152, 1973 - NOTE NOTE 1. Act No. 152, 1973; assented to 27 November 1973.