NATIONAL DEBT SINKING FUND.

No. 6 of 1924.

An Act to amend the National Debt Sinking Fund Act 1923.

[Assented to 30th June, 1924.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the National Debt Sinking Fund Act 1924.

(2.) The National Debt Sinking Fund Act 1923 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the National Debt Sinking Fund Act 1923-1924.

Additional payment to the Sinking Fund.

2. Section nine of the Principal Act is amended by inserting in sub-section (1.) thereof, after paragraph (c), the following paragraphs:—

“(ca) in each financial year for a period of thirty years, commencing with the financial year 1923-1924, a sum of Ninety-one thousand pounds;

“(cb) in each financial year for a period of thirty years commencing with the financial year 1923-1924, a sum equal to One pound per centum of the expenditure of the Postmaster-General’s Department out of the Loan Fund from the first day of July One thousand nine hundred and twenty-three to the end of the financial year in which the payment is made;

“(cc) in each financial year for the period of twenty years commencing with the financial year ending on the thirtieth day of June One thousand nine hundred and fifty-four, a sum equal to One pound per centum of the expenditure of the Postmaster-General’s Department out of the Loan Fund during the financial year in which the payment is made and during the twenty-nine financial years immediately prior to that year;”.