Document ID: chunk:federal_register_of_legislation:C2008A00078:clause:1_5
Version: federal_register_of_legislation:C2008A00078
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 2114–3228

5  Limit on stock and securities on issue

 (1) The total face value of stock and securities on issue under this Act and the Loans Securities Act 1919 at any time must not exceed $75 billion.

 (2) In working out the total face value of that stock and securities, disregard:
 (a) stock and securities issued in relation to money borrowed under the Loan (Temporary Revenue Deficits) Act 1953; and
 (b) stock and securities loaned by the Treasurer under a securities lending arrangement under section 5BA of the Loans Securities Act 1919, or held by or on behalf of the Treasurer for the purpose of such an arrangement; and
 (c) stock and securities invested under subsection 39(2) of the Financial Management and Accountability Act 1997; and
 (d) stock and securities on issue on the commencement of this section, other than Treasury Fixed Coupon Bonds.

 (3) For the purposes of this section:
 (a) the face value of a Treasury Indexed Bond is taken to be its face value at the time it was issued; and
 (b) the loan of stock or a security is taken to include an arrangement under which it is sold and repurchased.