INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (SHARE INCREASE) ACT 1988 No. 23, 1988
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (SHARE INCREASE) ACT 1988 No. 23 of 1988 - LONG TITLE
An Act relating to the purchase of additional shares of the capital stock of the International Bank for Reconstruction and Development INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (SHARE INCREASE) ACT 1988 No. 23 of 1988 - SECT 1 Short title
(Assented to 11 May 1988) 1. This Act may be cited as the International Bank for Reconstruction and Development (Share Increase) Act 1988. (Minister's second reading speech made in- House of Representatives on 18 February 1988 Senate on 17 March 1988) INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (SHARE INCREASE) ACT 1988 No. 23 of 1988 - SECT 2 Commencement
2. This Act commences on the day on which it receives the Royal Assent. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (SHARE INCREASE) ACT 1988 No. 23 of 1988 - SECT 3 Interpretation
3. In this Act, unless the contrary intention appears: "Bank" means the International Bank for Reconstruction and Development established under the Articles of Agreement set out in Schedule 2 to the International Monetary Agreements Act 1947. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (SHARE INCREASE) ACT 1988 No. 23 of 1988 - SECT 4 Agreements for purchase of additional shares of capital stock of the Bank
4. 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. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (SHARE INCREASE) ACT 1988 No. 23 of 1988 - SECT 5 Appropriation and issue of securities
5. (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.