The Bill would not commence until the Fund has certified that the required conditions for adoption of the Fourth Amendment have been met. No State or Territory government action is required to give effect to the Fourth Amendment. The proposed treaty action was advised to the States and Territories through the Commonwealth State Standing Committee on Treaties' schedule of treaty action. To date no concerns or objections have been raised. Withdrawal or Denunciation Under Article XXVI, Section 1 of the Articles of Agreement, Australia may withdraw from the Fund at any time by transmitting a notice in writing to the Fund at its principal office.
Withdrawal becomes effective on the date such notice is received.
A participant that withdraws membership in the Fund shall be deemed to have simultaneously terminated its participation in the SDR Department. Under Article XXIV, Section 1 of the Articles of Agreement, Australia may terminate its participation in the SDR Department at any time by transmitting a notice in writing to the Fund at its principal office. Termination shall become effective on the date the notice is received. Such a decision shall be a decision to liquidate both the Fund's General Department and the SDR Department. Under Article XXV of the Articles of Agreement, the SDR Department may be liquidated by a decision of the Board of Governors.