Document ID: chunk:federal_register_of_legislation:C1929A00004:section:2:p2
Version: federal_register_of_legislation:C1929A00004
Segment Type: section
Provision Reference: s 2 (pt 2/22)
Character Range: 6635–10191

some of the advantages which would result from united action by adoption of the said scheme the Commonwealth and the States have agreed that for the period commencing on the first day of July One thousand nine hundred and twenty-seven and ending on the thirtieth day of June One thousand nine hundred and twenty-nine certain of the proposed provisions of the said scheme shall be temporarily adopted:
  NOW THIS AGREEMENT WITNESSETH:

PART  I
1. This Agreement shall have no force or effect and shall not be binding on any party unless and until it is approved by the Parliaments of the Commonwealth and of the States.

2. DEFINITIONS
In this Agreement-
"Net Public debt of a State existing on 30th June, 1927," means in respect of each State the amount of debt set forth hereunder opposite to the name of that State, viz.:-

 New South Wales.…………………………….. £234,088,501
 Victoria…………………………………………..136,949,942
 Queensland………………………………………101,977,855
 South Australia……………………………………84,834,364
 Western Australia…………………………………61,060,675
 Tasmania…………………………………………..22,434,060
                                                                              -----------------
                                                                              £641,345,397
                                                                              -----------------
The said amount of the net public debt of each State includes the debts of that State secured by -
(i) Inscribed Stock, including Local Inscribed Stock and Government Inscribed Stock;
(ii) nstalment Stock;
(iii) Registered Stock;
(iv) Funded Stock;
(v) Stock payable to bearer;
(vi) Bonds, including registered bonds;
(vii) Debentures, including registered debentures and instalment debentures;
(viii) Treasury Bills not repayable within twelve months from the date of issue; or
(ix) Fixed deposit receipts or special deposit receipts for moneys borrowed for other than temporary purposes;
issued or created by the State or by or on behalf of a Colony the predecessor of the State in respect of moneys borrowed by the Colony or State together with debts of the State to the Commonwealth of the amount set out respectively hereunder opposite to the name of the State so far as those last mentioned debts  are not included by being secured in manner aforesaid:-

 New South Wales.…………….……………….. £12,553,698
 Victoria……………………….…………………..23,688,269
 Queensland…………………….…………………16,082,583
 South Australia………………….………………..18,446,197
 Western Australia……………….………………..16,739,872
 Tasmania……………………….…...……………..3,948,613
                                                                             -----------------
                                                                               £91,459,232
                                                                             -----------------
after deducting therefrom the amount for which the Commonwealth by this Agreement assumes liability under Part III, Clause 4, of this Agreement and the amount of any moneys or securities standing to the credit of a sinking fund, redemption fund, or a fund of a like nature of the State as on 30th June, 1927, and does not include any moneys raised by the State by way of overdraft, fixed deposit, or special deposit for temporary purposes only.
The said sum of £234,088,501 (being the amount of the debt of New South Wales abovementioned) comprises the debts referred to in, and has been computed in the manner shown in, the statement signed by representatives of the Commonwealth and of New South Wales.
  "Gross