Commonwealth act

International Fund for Agricultural Development Act 1987

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

180 of 1987

Collection

act

Plain English Summary

2/10 complexity

This Act authorises the Australian Government to make a financial contribution of up to $8,472,570 to the International Fund for Agricultural Development (IFAD) — a United Nations agency that works to combat hunger and poverty in rural areas of developing countries.

Key points:

The Minister can formally notify IFAD that Australia intends to make this contribution
The Treasurer can issue special non-negotiable, non-interest-bearing promissory notes (essentially IOUs that promise to pay the money when requested) to facilitate the payment
The money will come from the Consolidated Revenue Fund (Australia’s main government bank account), which this Act automatically appropriates (sets aside) for this specific purpose

This is a straightforward "money bill" that allows Australia to fulfill its international commitment to support agricultural development projects in poorer nations.

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in International Fund for Agricultural Development Act 1987.

International Fund for Agricultural Development Act 1987

View image in the official source

International Fund for Agricultural Development Act 1987

No. 180 of 1987

An Act to authorise a further contribution by Australia to the International Fund for Agricultural Development

[Assented to 26 December 1987]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the International Fund for Agricultural Development Act 1987.

Commencement

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Interpretation

3. In this Act:

“Fund” means the International Fund for Agricultural Development.

Contribution to Fund

4. The Minister may, on behalf of Australia, notify the President of the Fund of the intention of Australia to contribute to the Fund amounts not exceeding in the aggregate $8,472,570.

Issue of promissory notes

5. (1) For the purposes of the payment of the contribution notified by the Minister under section 4, the Treasurer may, on behalf of Australia, execute and issue to the Fund promissory notes.

(2) A promissory note issued under subsection (1):

(a) shall be payable to the Fund;

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

Appropriation

6. The money necessary for the purpose of making any payment that is to be made by Australia in pursuance of a notification under section 4, including payment under a promissory note issued under section 5, shall be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.

[Minister’s second reading speech made in—

House of Representatives on 19 November 1987

Senate on 26 November 1987]

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 International Fund for Agricultural Development Act 1987

International Fund for Agricultural Development Act 1987

No. 180 of 1987

An Act to authorise a further contribution by Australia to the International Fund for Agricultural Development

[Assented to 26 December 1987]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the International Fund for Agricultural Development Act 1987.

Commencement

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Interpretation

3. In this Act:

“Fund” means the International Fund for Agricultural Development.

Contribution to Fund

4. The Minister may, on behalf of Australia, notify the President of the Fund of the intention of Australia to contribute to the Fund amounts not exceeding in the aggregate $8,472,570.

Issue of promissory notes

5. (1) For the purposes of the payment of the contribution notified by the Minister under section 4, the Treasurer may, on behalf of Australia, execute and issue to the Fund promissory notes.

(2) A promissory note issued under subsection (1):

(a) shall be payable to the Fund;

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

Appropriation

[Minister’s second reading speech made in—

House of Representatives on 19 November 1987

Senate on 26 November 1987]