Commonwealth Numbered Acts

LOANS (AUSTRALIAN SHIPPING COMMISSION) ACT 1975 No. 44, 1975 - SECT 4

4. (1) Approval is given to the making and carrying out by Australia of an
agreement or agreements for or in relation to the borrowing by Australia, in
the currency of the United States of America or in any other currency, of
moneys not exceeding in the aggregate the equivalent of $68,000,000 in the
currency of the United States of America.

(2) Where, after 1 January 1975 and before the commencement of this Act,
Australia has, for the purpose referred to in sub-section 7 (1), entered into
an agreement for or in relation to the borrowing of moneys by Australia-

   (a)  the amount of money that may be borrowed in accordance with
        sub-section (1) of this section shall be taken to be reduced by the
        amount borrowed under that agreement; and

   (b)  this Act applies to and in relation to that agreement as if it were an
        agreement made in pursuance of this Act.