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Thursday, 23 June 1949


The TEMPORARY CHAIRMAN - The Chair will deal with the honorable member for Moreton (Mr. Francis) if he continues to interject. I insist that the Minister be heard in silence.


Mr LEMMON - Sub-clause 2 of this clause states -

The Treasurer may, out of moneys appropriated by the Parliament for the purposes of this Act, make advances to the Authority of such amounts and upon such terms as he thinks fit

That sub-clause refers to an appropriation which, as I have pointed out, is for the permanent financial structure of the authority. Money to meet that appropriation will be obtained from loan and the same rates of interest will have to be paid by the authority. I! see nothing wrong with that. Sub-clause 3 reads -

Except with the consent of the Treasurer, the Authority shall not have power to borrow money otherwise than in accordance with this section.

That provision also is similar to provisions in the two acts to which I have previously referred. Furthermore, it is not an uncommon provision in legislation dealing with an undertaking that will produce some financial return by selling its product and so will be in a position to meet ordinary interest charges, capital costs and operational costs.







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