{"id":"F2012L01689","name":"European Bank for Reconstruction and Development Regulation 2012","slug":"european-bank-for-reconstruction-and-development-regulation-2012","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"200 of 2012","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":437677,"registerId":"F2012L01689-fast-fetch-1775954432457","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"European Bank for Reconstruction and Development Regulation 2012","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: European Bank for Reconstruction and Development Regulations 2011\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms](image.001.png)\n\nEuropean Bank for Reconstruction and Development Regulation 20121\n\nSelect Legislative Instrument 2012 No. 200\n\nI, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the European Bank for Reconstruction and Development Act 1990.\n\nDated 16 August 2012\n\nQUENTIN BRYCE\n\nGovernor-General\n\nBy Her Excellency’s Command\n\nWAYNE SWAN\n\nTreasurer\n\nContents\n\n 1 Name of regulation\n\n 2 Commencement\n\n 3 Definition\n\n 4 Amendment of European Bank for Reconstruction and Development Act 1990\n\n 5 Amendment of European Bank for Reconstruction and Development Act 1990\n\nSchedule 1 Amendment of European Bank for Reconstruction and Development Act 1990\n\nSchedule 2 Amendment of European Bank for Reconstruction and Development Act 1990\n\n \n\n \n\n1 Name of regulation\n\n  This regulation is the European Bank for Reconstruction and Development Regulation 2012.\n\n2 Commencement\n\n (1) This regulation commences as follows:\n\n (a) sections 1 to 4 and Schedule 1 commence on the later of:\n\n (i) the day that the amendment to the Agreement Establishing the European Bank for Reconstruction and Development made by Resolution 138 of the Board of Governors of the Bank enters into force for Australia; and\n\n (ii) the day after it is registered;\n\n (b) section 5 and Schedule 2 commence on the day that the amendment to the Agreement Establishing the European Bank for Reconstruction and Development made by Resolution 137 of the Board of Governors of the Bank enters into force for Australia.\n\n (2) The Minister must by notice in the Gazette notify the day on which the amendments made by Resolution 137 and Resolution 138 come into force for Australia.\n\nNote   Resolutions 137 and 138 were adopted by the Board of Governors of the Bank on 30 September 2011.\n\n3 Definition\n\n  In this regulation:\n\nAct means the European Bank for Reconstruction and Development Act 1990.\n\nNote   Bank is defined in section 3 of the Act.\n\n4 Amendment of European Bank for Reconstruction and Development Act 1990\n\n  For section 6 of the Act, Schedule 1 amends the Act.\n\n5 Amendment of European Bank for Reconstruction and Development Act 1990\n\n  For section 6 of the Act, Schedule 2 amends the Act.\n\nSchedule 1 Amendment of European Bank for Reconstruction and Development Act 1990\n\n(section 4)\n\n \n\n[1] Schedule 1, Article 18, paragraphs 1 and 2\n\nsubstitute\n\nArticle 18\n\nSPECIAL FUNDS\n\n1. (i) The Bank may accept the administration of Special Funds which are designed to serve the purpose and come within the functions of the Bank in its recipient countries and potential recipient countries. The full cost of administering any such Special Fund shall be charged to that Special Fund.\n\n (ii) For the purposes of subparagraph (i), the Board of Governors may, at the request of a member which is not a recipient country, decide that such member qualifies as a potential recipient country for such limited period and under such terms as may seem advisable. Such decision shall be taken by the affirmative vote of not less than two-thirds of the Governors, representing not less than three-fourths of the total voting power of the members.\n\n (iii) The decision to allow a member to qualify as a potential recipient country can only be made if such member is able to meet the requirements for becoming a recipient country. Such requirements are those set out in Article 1 of this Agreement, as it reads at the time of such decision or as it will read upon the entry into force of an amendment that has already been approved by the Board of Governors at the time of such decision.\n\n (iv) If a potential recipient country has not become a recipient country at the end of the period referred to in subparagraph (ii), the Bank shall forthwith cease any special operations in that country, except those incident to the orderly realization, conservation and preservation of the assets of the Special Fund and settlement of obligations that have arisen in connection therewith.\n\n2.  Special Funds accepted by the Bank may be used in its recipient countries and potential recipient countries in any manner and on any terms and conditions consistent with the purpose and functions of the Bank, with the other applicable provisions of this Agreement, and with the agreement or agreements relating to such Funds.\n\nSchedule 2 Amendment of European Bank for Reconstruction and Development Act 1990\n\n(section 5)\n\n \n\n[1] Schedule 1, Article 1\n\nsubstitute\n\nArticle 1\n\nPURPOSE\n\n  In contributing to economic progress and reconstruction, the purpose of the Bank shall be to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative in the Central and Eastern European countries committed to and applying the principles of multiparty democracy, pluralism and market economics. Subject to the same conditions, the purpose of the Bank may also be carried out in Mongolia and in member countries of the Southern and Eastern Mediterranean as determined by the Bank upon the affirmative vote of two-thirds of the Governors representing not less than three-fourths of the total voting power of the members. Accordingly, any reference in this Agreement and its annexes to “Central and Eastern European countries”, “countries from Central and Eastern Europe”, “recipient country (or countries)” or “recipient member country (or countries)” shall refer to Mongolia and each of such countries of the Southern and Eastern Mediterranean as well.\n\nNote\n\n1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.\n\n \n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The regulation's scope remains tightly aligned with its original purpose. It is purely a machinery provision to give domestic legal effect to specific international amendments agreed by the EBRD Board of Governors. While the underlying treaty amendments expand the Bank's geographic scope (to include Mongolia and Mediterranean countries), the regulation itself does not expand beyond its original function of updating the 1990 Act to reflect treaty changes."},"complexity_factors":["Very short instrument (approximately 1,500 words)","Only 1 defined term ('Act') in the body of the regulation","Structure is straightforward: name, commencement, definition, two amendment provisions, then two schedules containing the actual treaty text changes","Conditional logic limited to commencement triggers (dependent on international treaty amendments entering into force)","No nested exceptions or complex cross-referencing within the instrument itself","Substantive content is essentially copy-paste of international treaty amendments (Resolutions 137 and 138)"],"plain_english_summary":"This regulation amends the European Bank for Reconstruction and Development Act 1990 so Australia’s law matches two EBRD Board resolutions: it lets the Bank manage targeted “Special Funds” in prospective recipient countries and broadens the Bank’s operating remit to include Mongolia and eligible Southern and Eastern Mediterranean states.  \n\nIt chiefly affects Australia’s EBRD representation and potential contributions, ensuring domestic law aligns with Australia’s international commitments."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"Yes. The regulation broadens the Bank's scope: Schedule 2 (Article 1) expressly extends the Bank's stated purpose to include Mongolia and member countries of the Southern and Eastern Mediterranean (subject to the Board vote threshold). Schedule 1 (Article 18) expands operational scope by allowing Special Funds to be used in \"potential recipient\" countries for limited periods and charges full administration costs to those funds; the Board may designate such potential recipients under specified vote and qualification conditions (Sched 1 Art 18). Commencement of these changes is conditional on the relevant Board resolutions entering into force for Australia (reg 2)."},"complexity_factors":["Amendment of an international Agreement implemented by domestic regulation, requiring cross-references between the Agreement and the Act (Schedules 1 & 2).","Commencement contingent on Board resolutions entering into force for Australia and a Gazette notice (regulation 2), adding timing and coordination complexity.","Decision-making thresholds set at two‑thirds of Governors representing not less than three‑quarters of voting power for qualifying members or expanding scope (Sched 1 Art 18.1(ii); Sched 2 Art 1).","Allocation of administration costs to the Special Fund itself shifts who pays operational costs (Sched 1, Art 18.1(i)).","Introduction of \"potential recipient\" status with time limits and cessation rules creates conditional operational obligations for the Bank (Sched 1, Art 18.1(ii)–(iv)).","Legal reliance on defined terms and external amendments to the Agreement (Article 1 as it reads at decision time), requiring ongoing legal monitoring (Sched 1 Art 18.1(iii))."],"plain_english_summary":"This regulation amends Australia's EBRD Act to implement two Board resolutions. It lets the Bank accept and administer Special Funds for recipient and \"potential recipient\" countries and charges full administration costs to the fund (Sched 1, Art 18). It also extends the Bank's purpose to include Mongolia and Southern and Eastern Mediterranean countries (Sched 2, Art 1).\n\nClassifying potential recipients or adding countries requires a Board vote (two‑thirds of Governors representing ≥ three‑quarters of voting power); commencement is upon those resolutions entering into force for Australia (reg 2)."}},"importantCases":[],"_links":{"self":"/api/acts/european-bank-for-reconstruction-and-development-regulation-2012","history":"/api/acts/european-bank-for-reconstruction-and-development-regulation-2012/history","analysis":"/api/acts/european-bank-for-reconstruction-and-development-regulation-2012/analysis","conflicts":"/api/acts/european-bank-for-reconstruction-and-development-regulation-2012/conflicts","importantCases":"/api/acts/european-bank-for-reconstruction-and-development-regulation-2012/important-cases","documents":"/api/acts/european-bank-for-reconstruction-and-development-regulation-2012/documents"}}