6Issue of securities

6 Issue of securities

(1) To the extent to which the Association is prepared to accept from Australia, in place of any payment that Australia has made or is required to make to the Association, notes or similar obligations issued by Australia, the Governor‑General may authorize the issue of securities. (2) Securities issued under the last preceding subsection:

(a) shall be payable to the Association;

(b) shall be non‑negotiable and non‑interest‑bearing; and

(c) shall be payable at their par value on demand.