Document ID: chunk:federal_register_of_legislation:C1929A00004:section:2:p3
Version: federal_register_of_legislation:C1929A00004
Segment Type: section
Provision Reference: s 2 (pt 3/22)
Character Range: 9952–13049

(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 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……………………….…£239,441,363
 Victoria……………………………..……….144,844,530
 Queensland………………………………….105,259,916
 South Australia……………………………….87,614,005
 Western Australia…………………………….70,705,913
 Tasmania……………………………………..24,254,688
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                                                                       £672,120,415
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The said amount of the gross public debt of each State includes the net public debt of that State together with 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 any sinking fund redemption fund or fund of a like nature of the State as on 30th June, 1927.
  "Transferred Properties" means the properties mentioned or specified in the Schedule of Transferred Properties signed by representatives of the Commonwealth and the States as revised to the 30th June, 1927, being properties which became vested in the Commonwealth pursuant to Section 85 (i) of the Constitution of the Commonwealth.
  "The Loan Council" means the Australian Loan Council created in pursuance of this Agreement.
  "Bondholder" means an owner of any -
(i) Inscribed Stock, including Local Inscribed Stock and Government Inscribed Stock;
(ii) Instalment 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 a State or by or on behalf of a Colony the predecessor of the State in respect of borrowed moneys but does not include the Commonwealth.

3.  AUSTRALIAN  LOAN  COUNCIL
(a) There shall be an Australian Loan Council, which shall consist of one Minister of State of the Commonwealth to be appointed in writing from time to time by the Prime Minister of the Commonwealth to represent the Commonwealth, and one Minister of State of each State to be appointed in writing from time to time by the Premier of that State to represent that State. Provided that, if in the opinion of the Prime Minister or of any Premier of a State, special circumstances exist at any time which make it desirable so to do, a person who is not a Minister may instead of a Minister be appointed by the Prime Minister or the Premier as the case may be