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
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:
This Act may be cited as the International Bank for Reconstruction and Development (Share Increase) Act 1988.
This Act commences on the day on which it receives the Royal Assent.
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.
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.
(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.