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Short title
1 Short title
This Act may be cited as the International Bank for Reconstruction and Development (Share Increase) Act 1988.
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Commonwealth act
This Act authorises the Treasurer to buy, for Australia, 178 additional shares in the International Bank for Reconstruction and Development at the equivalent of US$120,635 per share, and provides that money for the purchase may be paid from the Consolidated Revenue Fund. The Treasurer decides the terms and conditions for the purchase and payments are subject to section 7 of the International Monetary Agreements Act 1947.
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Direct links to the current provisions in International Bank for Reconstruction and Development (Share Increase) Act 1988.
This Act may be cited as the International Bank for Reconstruction and Development (Share Increase) Act 1988.
This Act commences on the day on which it receives the Royal Assent.
In this Act:
Bank means the International Bank for Reconstruction and Development.
The Treasurer may, on behalf of Australia, make an agreement or agreements, containing such terms and conditions as the Treasurer determines, with the Bank for the purchase by Australia of 178 additional shares of the capital stock of the Bank at a price per share that is the equivalent of 120,635 United States dollars.
(1) There may be paid out of the Consolidated Revenue Fund, which is appropriated accordingly, the money necessary for the purpose of making any payment to be made by Australia under an agreement made under section 4. (2) Section 7 of the International Monetary Agreements Act 1947 applies to any payment to be made by Australia under an agreement made under section 4 of this Act as it applies to payments under that Act.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This Act may be cited as the International Bank for Reconstruction and Development (Share Increase) Act 1988.
This Act commences on the day on which it receives the Royal Assent.
In this Act:
Bank means the International Bank for Reconstruction and Development.
The Treasurer may, on behalf of Australia, make an agreement or agreements, containing such terms and conditions as the Treasurer determines, with the Bank for the purchase by Australia of 178 additional shares of the capital stock of the Bank at a price per share that is the equivalent of 120,635 United States dollars.
(1) There may be paid out of the Consolidated Revenue Fund, which is appropriated accordingly, the money necessary for the purpose of making any payment to be made by Australia under an agreement made under section 4. (2) Section 7 of the International Monetary Agreements Act 1947 applies to any payment to be made by Australia under an agreement made under section 4 of this Act as it applies to payments under that Act.