Provision
2
2. DEFINITIONS
In this Agreement-
"Net Public debt of a State existing on 30th June, 1927," means in respect of each State the amount of debt set forth hereunder opposite to the name of that State, viz.:-
New South Wales.…………………………….. £234,088,501
Victoria…………………………………………..136,949,942
Queensland………………………………………101,977,855
South Australia……………………………………84,834,364
Western Australia…………………………………61,060,675
Tasmania…………………………………………..22,434,060
-----------------
£641,345,397
-----------------
The said amount of the net public debt of each State includes the debts of that State secured by -
Inscribed Stock, including Local Inscribed Stock and Government Inscribed Stock;
nstalment Stock;
Registered Stock;
Funded Stock;
Stock payable to bearer;
Bonds, including registered bonds;
Debentures, including registered debentures and instalment debentures;
Treasury Bills not repayable within twelve months from the date of issue; or
Fixed deposit receipts or special deposit receipts for moneys borrowed for other than temporary purposes;
issued or created by the State or by or on behalf of a Colony the predecessor of the State in respect of moneys borrowed by the Colony or State together with debts of the State to the Commonwealth of the amount set out respectively hereunder opposite to the name of the State so far as those last mentioned debts are not included by being secured in manner aforesaid:-
New South Wales.…………….……………….. £12,553,698
Victoria……………………….…………………..23,688,269
Queensland…………………….…………………16,082,583
South Australia………………….………………..18,446,197
Western Australia……………….………………..16,739,872
Tasmania……………………….…...……………..3,948,613
-----------------
£91,459,232
-----------------
after deducting therefrom the amount for which the Commonwealth by this Agreement assumes liability under Part III, Clause 4, of this Agreement and the amount of any moneys or securities standing to the credit of a sinking fund, redemption fund, or a fund of a like nature of the State as on 30th June, 1927, and does not include any moneys raised by the State by way of overdraft, fixed deposit, or special deposit for temporary purposes only.
The said sum of £234,088,501 (being the amount of the debt of New South Wales abovementioned) comprises the debts referred to in, and has been computed in the manner shown in, the statement signed by representatives of the Commonwealth and of New South Wales.
"Gross Public Debt of a State existing on 30th June, 1927," means in respect of each State the amount of debt set forth hereunder opposite to the name of that State, viz.:-
New South Wales……………………….…£239,441,363
Victoria……………………………..……….144,844,530
Queensland………………………………….105,259,916
South Australia……………………………….87,614,005
Western Australia…………………………….70,705,913
Tasmania……………………………………..24,254,688
-----------------
£672,120,415
-----------------
The said amount of the gross public debt of each State includes the net public debt of that State together with the amount for which the Commonwealth by this Agreement assumes liability under Part III, Clause 4, of this Agreement and the amount of any moneys or securities standing to the credit of any sinking fund redemption fund or fund of a like nature of the State as on 30th June, 1927.
"Transferred Properties" means the properties mentioned or specified in the Schedule of Transferred Properties signed by representatives of the Commonwealth and the States as revised to the 30th June, 1927, being properties which became vested in the Commonwealth pursuant to Section 85 (i) of the Constitution of the Commonwealth.
"The Loan Council" means the Australian Loan Council created in pursuance of this Agreement.
"Bondholder" means an owner of any -
Inscribed Stock, including Local Inscribed Stock and Government Inscribed Stock;
Instalment Stock;
Registered Stock;
Funded Stock;
Stock payable to bearer;
Bonds, including registered bonds;
Debentures including registered debentures and instalment debentures;
Treasury Bills not repayable within twelve months from the date of issue or
Fixed deposit receipts or special deposit receipts for moneys borrowed for other than temporary purposes;
issued or created by a State or by or on behalf of a Colony the predecessor of the State in respect of borrowed moneys but does not include the Commonwealth.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.