Document ID: chunk:federal_register_of_legislation:C2004A01728:section:6:p1
Version: federal_register_of_legislation:C2004A01728
Segment Type: section
Provision Reference: s 6 (pt 1/24)
Character Range: 1550–4605

6  Issue of securities

        (1) To the extent to which the fund is prepared to accept from Australia, in place of a payment that Australia is required to make to the Fund, promissory notes or other obligations issued by Australia, the Treasurer may, on behalf of Australia, execute and issue such securities to the Fund.

        (2) Securities issued under subsection (1):
           (a) shall be payable to the Fund;
           (b) shall be non‑negotiable, irrevocable and non‑interest bearing; and
           (c) shall be payable at their par value on demand.

Schedule—Agreement establishing the International Fund for Agricultural Development

Section 3

       Preamble

Recognizing that the continuing food problem of the world is afflicting a large segment of the people of the developing countries and is jeopardizing the most fundamental principles and values associated with the right to life and human dignity;

Considering the need to improve the conditions of life in the developing countries and to promote socio‑economic development within the context of the priorities and objectives of the developing countries, giving due regard to both economic and social benefits;

Bearing in mind the responsibility of the Food and Agriculture Organization of the United Nations within the United Nations system, to assist the efforts of developing countries to increase food and agricultural production, as well as that organization's technical competence and experience in this field;

Conscious of the goals and objectives of the International Development Strategy for the Second United Nations Development Decade and especially the need to spread the benefits of assistance to all;

Bearing in mind paragraph (f) of part 2 ("Food") of Section I of General Assembly resolution 3202 (S‑VI) on the Programme of Action on the Establishment of a New International Economic Order;

Bearing in mind also the need for effecting transfer of technology for food and agricultural development and Section V ("Food and Agriculture") of General Assembly resolution 3362 (S‑VII) on development and international economic co‑operation, with particular reference to paragraph 6 thereof regarding the establishment of an International Fund for Agricultural Development;

Recalling paragraph 13 of General Assembly resolution 3348 (XXIX) and resolutions I and II of the World Food Conference on the objectives and strategies of food production and on the priorities for agricultural and rural development;

Recalling resolution XIII of the World Food Conference which recognized:
     (i) the need for a substantial increase in investment in agriculture for increasing food and agricultural production in the developing countries;
     (ii) that provision of an adequate supply and proper utilization of food are the common responsibility of all members of the international community; and
     (iii) that the prospects of the world food situation call for urgent and co‑ordinated measures by all countries;
and which resolved:
     that an International Fund