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Loan (Works and Services) Act 1976

Chapter 129.

Loan (Works and Services) Act 1976.
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INDEPENDENT STATE OF PAPUA NEW GUINEA.

Chapter 129.

Loan (Works and Services) Act 1976.

ARRANGEMENT OF SECTIONS.

INDEPENDENT STATE OF PAPUA NEW GUINEA.

AN ACT

entitled

Loan (Works and Services) Act 1976,

Being an Act to allow the Government to borrow a certain sum of money and to spend it on the works and services of the Government.

1. AUTHORITY TO BORROW.

The State may borrow, in accordance with the Loans Securities Act 1960, up to K6,000,000.00, less any amounts borrowed before 1 January 1976 (the effective date for the purposes of the Revision of the Laws Act 1973 (Adopted)) under any Act listed in Schedule 1.

2. PURPOSES FOR WHICH MONEY MAY BE SPENT.

Money borrowed under this Act may be spent only–

(a) for the expenses of borrowing; and

(b) for the purpose of works and services of the Government.

SCHEDULE 1 – PRE-1976 ACTS.

Sec. 1.

Loan (Works and Services) Act 1960.

Loan (Work and Services) Act 1961.

Loan (Works and Services) Act 1962.

Office of Legislative Counsel, PNG