International Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025

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Commonwealth coat of arms of Australia

 

International Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025

I, Andrew Leigh, Assistant Minister for Competition, Charities and Treasury, make the following instrument.

Dated   6 March 2025

 

Dr Andrew Leigh

Assistant Minister for Competition, Charities and Treasury Parliamentary Secretary to the Treasurer

 

 

 

 

Contents

Part 1—Preliminary

1 Name

2 Commencement

3 Authority

4 Definitions

Part 2—Notice of International Monetary Fund Decision

5 Notification of decision

 

Part 1—Preliminary

 

1  Name

  This instrument is the International Monetary Agreements (New Arrangements to Borrow—Notice of Decision of the Fund No. 1) Instrument 2025.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

• Commencement information
• Column 1 Column 2 Column 3
• Provisions Commencement Date/Details
• 1. The whole of this instrument The start of the day immediately after the last day on which a resolution referred to in subsection 42(1) of the Legislation Act 2003 disallowing this instrument could be passed.However, this instrument does not commence at all if this instrument is disallowed or taken to have been disallowed on or before that last day.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the International Monetary Agreements Act 1947.

Note: Under subsection 8B(3) of the International Monetary Agreements Act 1947, the Treasurer may give notice of an amendment or renewal of the New Arrangements to Borrow by a decision of the Executive Board of the International Monetary Fund. Upon commencement of this instrument, the Treasurer may direct that an amount be paid out of the Consolidated Revenue Fund to enable Australia to carry out its obligations under the amended or renewed New Arrangements to Borrow.

4  Definitions

Note: Expressions have the same meaning in this instrument as in the International Monetary Agreements Act 1947 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

  In this instrument:

the Act means the International Monetary Agreements Act 1947.

Part 2—Notice of a decision of the International Monetary Fund

 

5  Giving of notice of a decision

  Under subsection 8B(3) of the Act, Decision No. 17794‑(24/78) of the Executive Board of the Fund, dated 19 July 2024, relating to the amendment or renewal of the New Arrangements to Borrow, is notified.