Federal Register of Legislation - Australian Government

Primary content

Act No. 23 of 1988 as made
An Act relating to the purchase of additional shares of the capital stock of the International Bank for Reconstruction and Development
Administered by: Treasury
Date of Assent 11 May 1988
Table of contents.

 

 

 

 

 

 

International Bank for Reconstruction and Development (Share Increase) Act 1988

 

No. 23, 1988

 

 

 

 

 

An Act relating to the purchase of additional shares of the capital stock of the International Bank for Reconstruction and Development

  

  

  



 

 

International Bank for Reconstruction and Development (Share Increase) Act 1988

 

No. 23, 1988

 

 

 

An Act relating to the purchase of additional shares of the capital stock of the International Bank for Reconstruction and Development

[Assented to 11 May 1988]

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the International Bank for Reconstruction and Development (Share Increase) Act 1988.

2  Commencement

                   This Act commences on the day on which it receives the Royal Assent.

3  Interpretation

                   In this Act, unless the contrary intention appears:

Bank means the International Bank for Reconstruction and Development established under the Articles of Agreement set out in Schedule 2 to the International Monetary Agreements Act 1947.

4  Agreements for purchase of additional shares of capital stock of the Bank

                   The Treasurer may, on behalf of Australia, make an agreement or agreements, containing such terms and conditions as the Treasurer determines, with the Bank for the purchase by Australia of 178 additional shares of the capital stock of the Bank at a price per share that is the equivalent of 120,635 United States dollars.

5  Appropriation and issue of securities

             (1)  There may be paid out of the Consolidated Revenue Fund, which is appropriated accordingly, the money necessary for the purpose of making any payment to be made by Australia under an agreement made under section 4.

             (2)  Section 7 of the International Monetary Agreements Act 1947 applies to any payment to be made by Australia under an agreement made under section 4 of this Act as it applies to payments under that Act.