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title: Asian Development Bank (Additional Subscription) Act 1972
Asian Development Bank (Additional Subscription) Act 1972
No. 60, 1972
Compilation No. 1
Compilation date: 10 July 2024
Includes amendments: Act No. 67, 2024
Registered: 24 July 2024
About this compilation
This compilation
This is a compilation of the Asian Development Bank (Additional Subscription) Act 1972 that shows the text of the law as amended and in force on 10 July 2024 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self‑repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
An Act to authorize Australia to subscribe for shares of the capital stock of the Asian Development Bank
1 Short title
This Act may be cited as the Asian Development Bank (Additional Subscription) Act 1972.
2 Commencement
This Act shall come into operation on the day on which it receives the Royal Assent.
3 Definitions
In this Act:
Bank means the Asian Development Bank.
Bank Agreement means the Agreement establishing the Asian Development Bank, done at Manila on 4 December 1965, as in force for Australia on the commencement of this Act.
Note: The Agreement establishing the Asian Development Bank is in Australian Treaty Series 1966 No. 13 ([1966] ATS 13) and could in 2024 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).
callable shares has the same meaning as in the Bank Agreement.
paid‑in shares has the same meaning as in the Bank Agreement.
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 31 January 1966.
4 Subscription for capital stock of the Bank
(1) The Treasurer may, on behalf of the Commonwealth, make an agreement or agreements with the Bank providing for the purchase by Australia of Two thousand five hundred and fifty paid‑in shares, and Ten thousand two hundred callable shares, of the capital stock of the Bank at a price per share that is the equivalent of Ten thousand United States dollars.
(2) Subject to this Act, an agreement so made may contain such terms and conditions as the Treasurer determines.
5 Agreement subject to increase of capital stock
An agreement made under this Act does not have effect before the authorized capital stock of the Bank has been increased by an amount that is the equivalent of One thousand six hundred and fifty million United States dollars.
6 Issue of promissory notes
(1) To the extent to which the Bank is prepared to accept promissory notes from Australia in lieu of any payment that Australia is required to make to the Bank in pursuance of an agreement made under this Act, the Treasurer may, on behalf of the Commonwealth, execute and issue to the Bank promissory notes.
(2) A promissory note issued under the last preceding subsection:
(a) shall be payable to the Bank;
(b) shall be non‑negotiable and non‑interest‑bearing; and
(c) shall be payable at its par value on demand.
7 Appropriation
There may be paid out of the Consolidated Revenue Fund, which is appropriated accordingly, the moneys necessary for the purpose of making any payment that is to be made by Australia:
(a) in pursuance of an agreement made under this Act; or
(b) under a promissory note issued under this Act.
Endnotes
Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.
Endnote 2—Abbreviation key
ad = added or inserted
o = order(s)
am = amended
Ord = Ordinance
amdt = amendment
orig = original
c = clause(s)
par = paragraph(s)/subparagraph(s)
C[x] = Compilation No. x
/sub‑subparagraph(s)
Ch = Chapter(s)
pres = present
def = definition(s)
prev = previous
Dict = Dictionary
(prev…) = previously
disallowed = disallowed by Parliament
Pt = Part(s)
Div = Division(s)
r = regulation(s)/rule(s)
ed = editorial change
reloc = relocated
exp = expires/expired or ceases/ceased to have
renum = renumbered
effect
rep = repealed
F = Federal Register of Legislation
rs = repealed and substituted
gaz = gazette
s = section(s)/subsection(s)
LA = Legislation Act 2003
Sch = Schedule(s)
LIA = Legislative Instruments Act 2003
Sdiv = Subdivision(s)
(md) = misdescribed amendment can be given
SLI = Select Legislative Instrument
effect
SR = Statutory Rules
(md not incorp) = misdescribed amendment
Sub‑Ch = Sub‑Chapter(s)
cannot be given effect
SubPt = Subpart(s)
mod = modified/modification
underlining = whole or part not
No. = Number(s)
commenced or to be commenced
Endnote 3—Legislation history
Act
Number and year
Assent
Commencement
Application, saving and transitional provisions
Asian Development Bank (Additional Subscription) Act 1972
60, 1972
31 Aug 1972
31 Aug 1972 (s 2)
Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024
67, 2024
9 July 2024
Sch 4 (item 4): 10 July 2024 (s 2(1) item 8)
—
Endnote 4—Amendment history
Provision affected
How affected
s 3.....................
rs No 67, 2024
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