Document ID: chunk:federal_register_of_legislation:C2004A01896:body:0:p4
Version: federal_register_of_legislation:C2004A01896
Segment Type: other
Provision Reference: 
Character Range: 7619–10432

Schedule
15. The Fourth Schedule to the Principal Act is repealed.

Formal amendments
16. The Principal Act is amended as set out in Schedule 2 to this Act.

PART III—INCREASE OF QUOTA IN THE FUND AND
ADDITIONAL SHARES OF CAPITAL STOCK OF THE BANK

Interpretation
17. In this Part, unless the contrary intention appears—
     "Bank" and "Fund" have the same respective meanings as they have in the Principal Act as amended by this Act;
     "United States dollar" means a dollar in the currency of the United States of America of the weight and fineness that was in effect on 1 July 1944.

Consent to increase of quota
18. The giving of consent by Australia to the increase of its quota in the Fund to 790,000,000 special drawing rights is approved.

Subscription for capital stock of Bank
19. (1) The Treasurer may, on behalf of Australia, make an agreement or agreements with the Bank providing for the purchase by Australia of 779 additional shares of the capital stock of the Bank at a price per share that is the equivalent of 100,000 United States dollars.

(2) Subject to the Principal Act as amended by this Act, an agreement so made may contain such terms and conditions as the Treasurer determines.

Appropriation and issue of securities
20. (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—
     (a) by reason of the increase of its quota in the Fund referred to in section 18; or
     (b) in pursuance of an agreement made under section 19.

(2) Section 7 of the Principal Act as amended by this Act applies to any payment referred to in sub-section (1) as it applies to payments under that Act as so amended.

                  SCHEDULE 1     Section 14

SCHEDULE TO BE INSERTED IN THE PRINCIPAL ACT

                  SCHEDULE 1     Section 3(1)

ARTICLES OF AGREEMENT OF THE INTERNATIONAL MONETARY FUND

The Governments on whose behalf the present Agreement is signed agree as follows:

INTRODUCTORY ARTICLE

     (i) The International Monetary Fund is established and shall operate in accordance with the provisions of this Agreement as originally adopted and subsequently amended.
     (ii) To enable the Fund to conduct its operations and transactions, the Fund shall maintain a General Department and a Special Drawing Rights Department. Membership in the Fund shall give the right to participation in the Special Drawing Rights Department.
     (in) Operations and transactions authorized by this Agreement shall be conducted through the General Department, consisting in accordance with the provisions of this Agreement of the General Resources Account, the Special Disbursement Account, and the Investment Account; except that operations and transactions