5Issue of promissory notes

5 Issue of promissory notes

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