Document ID: chunk:federal_register_of_legislation:C2024C00320:section:5
Version: federal_register_of_legislation:C2024C00320
Segment Type: section
Provision Reference: s 5
Character Range: 3674–4283

5  Issue of promissory notes
 (1) The Treasurer may, on behalf of Australia, make promissory notes and issue them to the Bank, for the purposes of making any payment that is to be made by Australia to the Bank under an agreement made under subsection 4(1).
 (2) A promissory note made under subsection (1) is to be:
 (a) non‑negotiable; and
 (b) non‑interest‑bearing; and
 (c) payable to the Bank at par value upon 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).