{"id":"F2025L00299","name":"International Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025","slug":"international-monetary-agreements-new-arrangements-to-borrow-notice-of-decision-of-the-fund-no-1-ins","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":442776,"registerId":"F2025L00299-fast-fetch-1775957712978","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"International Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n![Commonwealth coat of arms of Australia](image.001.jpeg)\n\n \n\nInternational Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025\n\nI, Andrew Leigh, Assistant Minister for Competition, Charities and Treasury, make the following instrument.\n\nDated   6 March 2025\n\n \n\nDr Andrew Leigh\n\nAssistant Minister for Competition, Charities and Treasury  Parliamentary Secretary to the Treasurer\n\n \n\n \n\n \n\n \n\nContents\n\nPart 1—Preliminary\n\n1 Name\n\n2 Commencement\n\n3 Authority\n\n4 Definitions\n\nPart 2—Notice of International Monetary Fund Decision\n\n5 Notification of decision\n\n \n\nPart 1—Preliminary\n\n \n\n1  Name\n\n  This instrument is the International Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025.\n\n2  Commencement\n\n (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument The start of the day immediately after the last day on which a resolution referred to in subsection 42(1) of the Legislation Act 2003 disallowing this instrument could be passed.However, this instrument does not commence at all if this instrument is disallowed or taken to have been disallowed on or before that last day.\n\n\nNote: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.\n\n (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.\n\n3  Authority\n\n  This instrument is made under the International Monetary Agreements Act 1947.\n\nNote: Under subsection 8B(3) of the International Monetary Agreements Act 1947, the Treasurer may give notice of an amendment or renewal of the New Arrangements to Borrow by a decision of the Executive Board of the International Monetary Fund. Upon commencement of this instrument, the Treasurer may direct that an amount be paid out of the Consolidated Revenue Fund to enable Australia to carry out its obligations under the amended or renewed New Arrangements to Borrow.\n\n4  Definitions\n\nNote: Expressions have the same meaning in this instrument as in the International Monetary Agreements Act 1947 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.\n\n  In this instrument:\n\nthe Act means the International Monetary Agreements Act 1947.\n\nPart 2—Notice of a decision of the International Monetary Fund\n\n \n\n5  Giving of notice of a decision\n\n  Under subsection 8B(3) of the Act, Decision No. 17794‑(24/78) of the Executive Board of the Fund, dated 19 July 2024, relating to the amendment or renewal of the New Arrangements to Borrow, is notified.\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"},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument does not itself expand or narrow Australia’s statutory commitments; it notifies an IMF Executive Board decision under subsection 8B(3) of the International Monetary Agreements Act 1947 (s5) and records the Treasurer’s power to authorise payments from the Consolidated Revenue Fund to fulfil any obligations arising from that decision (s3 note). It therefore implements recognition of an external decision rather than altering domestic legal scope."},"complexity_factors":["Single, short substantive action: formal notification of an IMF decision (s5).","Relies on an external international decision (IMF Executive Board Decision No. 17794‑(24/78)), so substantive effect depends on that foreign act (s5).","Invocation of domestic payment authority under the International Monetary Agreements Act 1947 (Treasurer may direct payments from the Consolidated Revenue Fund) — legal cross‑reference rather than new rule (s3 note).","Commencement linked to the instrument disallowance/commencement mechanics rather than immediate effect, adding a minor procedural timing dependency (Commencement table).","Definitions and meanings imported by reference to the principal Act, requiring readers to consult that Act for full scope (s4 note)."],"plain_english_summary":"*International Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025* formally notifies the IMF Executive Board’s Decision No. 17794‑(24/78) of 19 July 2024 to amend or renew the New Arrangements to Borrow (s5). It enables Australia to meet any resulting financial obligations. \n\nThe instrument records that the Treasurer may direct payments from the Consolidated Revenue Fund to discharge those obligations (s3 note). It creates no new private‑party regulatory duties but affects Commonwealth finances and Treasury discretion."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the narrow, technical function it was designed for: formally notifying an IMF decision to trigger payment authority under the parent Act. There is no scope creep — it does not expand Australia's financial commitments, alter the New Arrangements to Borrow terms itself, or add new policy elements beyond the notification requirement in section 8B(3) of the International Monetary Agreements Act 1947."},"complexity_factors":["Extremely short: only 5 sections across 2 Parts","No defined terms in section 4 — merely incorporates definitions from the parent Act by reference","Single operative provision (section 5) that does nothing more than notify a specific IMF decision number","No conditional logic, exceptions, or nested provisions","Straightforward commencement mechanism using standard disallowance period formula","No cross-references beyond the parent Act and standard Legislation Act provisions"],"plain_english_summary":"This notice tells Australia (and the world) that the IMF has adopted Decision No. 17794-(24/78) updating the New Arrangements to Borrow, and it triggers the Treasurer’s power to pay from government funds if Australia is called on under that IMF backup credit line. It keeps Australia’s international commitment current, affects the Treasurer’s authority and potentially taxpayers (rarely), and ensures Australia can legally provide funds if the IMF needs them."}},"importantCases":[],"_links":{"self":"/api/acts/international-monetary-agreements-new-arrangements-to-borrow-notice-of-decision-of-the-fund-no-1-ins","history":"/api/acts/international-monetary-agreements-new-arrangements-to-borrow-notice-of-decision-of-the-fund-no-1-ins/history","analysis":"/api/acts/international-monetary-agreements-new-arrangements-to-borrow-notice-of-decision-of-the-fund-no-1-ins/analysis","conflicts":"/api/acts/international-monetary-agreements-new-arrangements-to-borrow-notice-of-decision-of-the-fund-no-1-ins/conflicts","importantCases":"/api/acts/international-monetary-agreements-new-arrangements-to-borrow-notice-of-decision-of-the-fund-no-1-ins/important-cases","documents":"/api/acts/international-monetary-agreements-new-arrangements-to-borrow-notice-of-decision-of-the-fund-no-1-ins/documents"}}