Federal Register of Legislation - Australian Government

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Asian Development Fund Act 1976

Act No. 146 of 1976 as made
An Act to Authorize a further contribution by Australia to the Asian Development Bank for the purposes of the Asian Development Fund
Administered by: Foreign Affairs and Trade
Date of Assent 09 Dec 1976
Date of repeal 24 Jun 1986
Repealed by Statute Law (Miscellaneous Provisions) Act (No. 1) 1986
 

ASIAN DEVELOPMENT FUND ACT 1976 No. 146, 1976

ASIAN DEVELOPMENT FUND ACT 1976 No. 146 of 1976 - SECT. 1.
Short title.

ASIAN DEVELOPMENT FUND ACT 1976

No. 146 of 1976
An Act to Authorize a further contribution by Australia to the Asian Development Bank for the purposes of the Asian Development Fund.

BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:-
1. This Act may be cited as the Asian Development Fund Act 1976.*1*

ASIAN DEVELOPMENT FUND ACT 1976 No. 146 of 1976 - SECT. 2.
Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.*1*

ASIAN DEVELOPMENT FUND ACT 1976 No. 146 of 1976 - SECT. 3.
Interpretation.

3. In this Act, ''Bank'' means the Asian Development Bank.

ASIAN DEVELOPMENT FUND ACT 1976 No. 146 of 1976 - SECT. 4.
Contribution to Asian Development Fund.

4. The Minister may, on behalf of the Commonwealth, notify the Bank of the intention of Australia to contribute to the Bank, for the purposes of the Asian Development Fund, amounts not exceeding in the aggregate $30,730,586.

ASIAN DEVELOPMENT FUND ACT 1976 No. 146 of 1976 - SECT. 5.
Issue of promissory notes.

5. (1) For the purposes of the payment of the contribution notified by the Minister under section 4, the Treasurer may, on behalf of the Commonwealth, execute and issue to the Bank promissory notes.

(2) A promissory note issued under sub-section (1)-

(a) shall be payable to the Bank;

(b) shall be non-negotiable and non-interest-bearing; and

(c) shall be payable at its par value on demand.

ASIAN DEVELOPMENT FUND ACT 1976 No. 146 of 1976 - SECT. 6.
Appropriation.

6. The moneys necessary for the purpose of making any payment that is to be made by Australia in pursuance of a notification under section 4, including a payment under a promissory note issued under section 5, shall be paid out of the Consolidated Revenue Fund, which is appropriated accordingly. ------------------------------------------------------------------------------ --

ASIAN DEVELOPMENT FUND ACT 1976 No. 146 of 1976 - NOTE


NOTE
1. Act No. 146, 1976; assented to 9 December 1976.