Tasmanian Bills Clause Notes

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TREASURY (BORROWING) BILL 2016 BILL 27 OF 2016

                              CLAUSE NOTES

                        Treasury (Borrowing) Bill 2016


Clause 1   Cites the name (short title) of the Act.
Clause 2   Provides for the Act to commence on the date the Act receives Royal Assent.
Clause 3   Provides the Treasurer with the authority to borrow money that may be
           required for the purposes of the State. The clause also provides that this
           borrowing power expires on 3 July 2017.
Clause 4   Provides that, where a past Appropriation Act provided authority for the
           Treasurer to borrow money and the Treasurer had borrowed money, pursuant
           to that Act, such borrowing is taken to be validly done despite section 40 of the
           Constitution Act.
Clause 5   Provides that the administration of the Act is assigned to the Treasurer and the
           department responsible for the administration of the Act is the Department of
           Treasury and Finance.




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