Document ID: chunk:federal_register_of_legislation:C2024C00318:section:5
Version: federal_register_of_legislation:C2024C00318
Segment Type: section
Provision Reference: s 5
Character Range: 3629–4251

5  Issue of promissory notes
 (1) For the purpose of making any payment that is to be made by Australia to the Bank under an agreement made under subsection 4(1), the Treasurer may, on behalf of Australia, make promissory notes and issue them to the Bank.
 (2) A promissory note made under subsection (1) is to be:
 (a) payable to the Bank; and
 (b) non‑negotiable and non‑interest‑bearing; and
 (c) payable at its par value on demand.
 (3) Section 5 of the Asian Development Bank Act 1966 does not apply in relation to a payment that is to be made by Australia to the Bank under an agreement made under subsection 4(1).