NORTHERN TERRITORY (LESSEES’ LOANS GUARANTEE).

No. 14 of 1959.

An Act to amend the Northern Territory (Lessees’ Loans Guarantee) Act 1954.

[Assented to 23rd April, 1959.]

BE it enacted by the Queen’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 Northern Territory (Lessees’ Loans Guarantee) Act 1959.

(2.) The Northern Territory (Lessees’ Loans Guarantee) Act 1954, as amended by this Act, may be cited as the Northern Territory (Lessees’ Loans Guarantee) Act 1954-1959.

Commencement.

2. This Act shall come into operation on the day on which the Reserve Bank Act 1959 comes into operation.

Definitions.

3. Section three of the Northern Territory (Lessees’ Loans Guarantee) Act 1954 is amended by omitting the definition of “bank” and inserting in its stead the following definition:—

“‘bank’ means the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, the Commonwealth Development Bank of Australia or a body corporate authorized under Part II. of the Banking Act 1959 to carry on banking business in Australia;”.