DEFENCE EQUIPMENT.

No. 25 of 1926.

An Act to grant and apply out of the Consolidated Revenue Fund the sum of One million two hundred and fifty thousand pounds for Naval Construction and for a Reserve for Defence.

[Assented to 30th June, 1926.]

Preamble.

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—

Short title.

1. This Act may be cited as the Defence Equipment Act 1926.

Appropriation of £1,000,000 for naval construction.

2. There shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly for the purposes of the Trust Account established under the Defence Equipment Act 1924 and known as the Naval Construction Trust Account, the sum of One million pounds.

Appropriation of £250,000 for Defence reserve.

3.—(1.) There shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly for the purposes of the Trust Account established under the Defence Equipment Act 1924, and known as the Defence Reserve Trust Account, the sum of Two hundred and fifty thousand pounds.

(2.) The amount appropriated by this section shall be applied only:—

(a) for the purchase of aircraft equipment;

(b) for the reconditioning of aircraft equipment, existing at the date of the commencement of the Defence Equipment Act 1924;