7Annual Report

7 Annual Report

(1) As soon as practicable after the end of each financial year the Treasurer shall prepare and cause to be laid before each House of the Parliament a report on the operations of this Act during that financial year. (2) Without limiting the generality of subsection (1), the report shall include: (a) a statement of the terms and conditions of any agreement or agreements made by the Treasurer with the Bank for the purchase by Australia of any additional shares under this Act; and (b) a statement describing the nature and extent of Australia’s participation as a member of the Bank and the affiliates during that year; and (c) an assessment of the managerial efficiency, and financial and economic effectiveness, of the Bank in carrying out its purposes as provided for in Article 1 of the Bank Agreement; and (d) an assessment of the managerial efficiency, and financial and economic effectiveness, of the Association in carrying out its purposes as provided for in Article 1 of the Articles of Agreement set out in the Schedule of the International Development Association Act 1960; and (e) an assessment of the managerial efficiency, and financial and economic effectiveness, of the Corporation in carrying out its purpose as provided for in Schedule 1 of the Articles of Agreement set out in the first Schedule of the International Finance Corporation Act 1955.