2013-2014 

 

The Parliament of the 

Commonwealth of Australia 

 

HOUSE OF REPRESENTATIVES 

 

 

 

 

Presented and read a first time 

 

 

 

 

ACT Government Loan Bill 2014 

 

No.      , 2014 

 

(Finance) 

 

 

 

A Bill for an Act to authorise the making of a loan 

to the Australian Capital Territory for the purposes 

of undertaking an asbestos remediation program, 

and for purposes related to that program 

   

   

   

 

 

No.      , 2014 

ACT Government Loan Bill 2014 

i 

 

Contents 

1 

Short title ........................................................................................... 1

 

2 

Commencement ................................................................................. 1

 

3 

ACT Government loan ....................................................................... 2

 

4 

Appropriation of Consolidated Revenue Fund .................................. 2

 

 

 

 

No.      , 2014 

ACT Government Loan Bill 2014 

1 

 

A Bill for an Act to authorise the making of a loan 

1 

to the Australian Capital Territory for the purposes 

2 

of undertaking an asbestos remediation program, 

3 

and for purposes related to that program 

4 

The Parliament of Australia enacts: 

5 

1  Short title 

6 

 

  This Act may be cited as the ACT Government Loan Act 2014. 

7 

2  Commencement 

8 

 

  This Act commences on the day after this Act receives the Royal 

9 

Assent. 

10 

   

   

   

 

Section 3 

 

2 

ACT Government Loan Bill 2014 

No.      , 2014 

 

3  ACT Government loan 

1 

 

(1)  The Commonwealth may make a loan of money to the Australian 

2 

Capital Territory for: 

3 

 

(a)  the purpose of undertaking an asbestos remediation program; 

4 

and 

5 

 

(b)  purposes related to that program. 

6 

 

(2)  The terms and conditions on which the loan is to be made are to be 

7 

set out in a written agreement between the Commonwealth and the 

8 

Australian Capital Territory. 

9 

 

(3)  The loan is to be for a total amount that: 

10 

 

(a)  is to be determined by or under the agreement; and 

11 

 

(b)  does not exceed $1 billion. 

12 

 

(4)  The loan is to be made by way of one or more payments, the 

13 

amounts and timing of which are to be determined by or under the 

14 

agreement. 

15 

 

(5)  The Minister administering the Australian Capital Territory 

16 

(Self-Government) Act 1988 may enter into the agreement on 

17 

behalf of the Commonwealth. 

18 

4  Appropriation of Consolidated Revenue Fund 

19 

 

  The Consolidated Revenue Fund is appropriated to the extent of 

20 

$750 million for the purposes of making a payment or payments 

21 

determined by or under the agreement mentioned in section 3. 

22 

Note: 

Any further payments determined by or under the agreement may be 

23 

made if money is available for the purpose in accordance with an 

24 

appropriation made by the Parliament (other than under this Act). 

25