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Thursday, 3 March 1932


Mr LYONS (Wilmot) (Prime Minister and Treasurer) (1:20 AM) . - I move-

That the words " any moneys come into the possession or control of the Commonwealth in pursuance or by virtue of the Financial Agreements, or of any decision of the Loan Council, for and on behalf of that State, or for the purpose of payment to that State, or to which that State has any claim under those agreements," be omitted with a view to inserting in lieu thereof the following words: - "the Commonwealth has, whether in pursuance or by virtue of the Financial Agreements, or of any decision of the Loan Council, or otherwise, possession or control of any moneys - (a.) for and on behalf of that State;

(b)   for the purpose of payment to that State; or

(c)   to which that State has any claim whether under those Agreements or otherwise,".

The object of the amendment is to provide that not only loan moneys raised under the Financial Agreement, but any other moneys belonging to a defaulting State Government that come into the possession of the Commonwealth, may be impounded by it and applied to the payment of the State's liabilities.







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