Document ID: chunk:federal_register_of_legislation:C2024C00324:section:7:p1
Version: federal_register_of_legislation:C2024C00324
Segment Type: section
Provision Reference: s 7 (pt 1/3)
Character Range: 2196–5132

7    Appropriation and issue of securities
Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
An Act relating to the purchase of additional shares of the capital stock of the International Bank for Reconstruction and Development and of the International Finance Corporation

      1  Short title
  This Act may be cited as the International Financial Institutions (Share Increase) Act 1982.

      2  Commencement
  This Act shall come into operation 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.
Corporation means the International Finance Corporation established under the Articles of Agreement set out in the First Schedule to the International Finance Corporation Act 1955.

      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 with the Bank for the purchase by Australia of 6,287 additional shares of the capital stock of the Bank at a price per share that is the equivalent of 100,000 United States dollars, being dollars in the currency of the United States of America of the weight and fineness that was in effect on 1 July 1944.

      5  Agreements for purchase of additional shares of capital stock of the Corporation
  The Treasurer may, on behalf of Australia, make an agreement or agreements with the Corporation for the purchase by Australia of 9,976 additional shares of the capital stock of the Corporation at a price per share of 1,000 United States dollars or their equivalent in any other freely convertible currency.

      6  Agreements subject to terms and conditions
  Subject to this Act, an agreement referred to in section 4 or 5 may contain such terms and conditions as the Treasurer determines.

      7  Appropriation and issue of securities
 (1) There may be paid out of the Consolidated Revenue Fund, which is appropriated accordingly, the moneys necessary for the purpose of making any payment to be made by Australia in pursuance of an agreement made under section 4 or section 5.
 (2) Section 7 of the International Monetary Agreements Act 1947 applies to any payment to be made by Australia in pursuance of an agreement made under section 4 as it applies to payments under that Act.

Endnotes

Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history

Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated