Commonwealth Numbered Acts

LOAN (FARMERS' DEBT ADJUSTMENT) REPEAL ACT 1979 No. 158, 1979 - SECT 4

4. On the day on which the Commonwealth and a State enter into an agreement
substantially in accordance with the form set out in the Schedule to the
States and Northern Territory Grants (Rural Adjustment) Act 1979-

   (a)  the conditions that were, immediately before that day, applicable, by
        virtue of the Loan (Farmers' Debt Adjustment) Act 1935, in relation to
        moneys granted, or deemed to have been granted, to the State under
        that Act and held by or repayable to the State cease to apply in
        relation to those moneys; and

   (b)  those moneys shall be deemed to have been paid to the State upon the
        condition that those moneys shall be expended by the State in
        accordance with the provisions of that agreement relating to the
        expenditure of those moneys by the State.
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