Asian
Development Fund Act 1982
No. 151 of 1982
An Act to
authorize a further contribution by Australia to the Asian Development Bank for
the purposes of the Asian Development Fund
[Assented to 31 December 1982]
BE IT ENACTED by the Queen, and the
Senate and the House of Representatives of the Commonwealth of Australia, as
follows:
Short
title
1. This Act may be cited
as the Asian Development Fund Act 1982.
Commencement
2. This Act shall come
into operation on the day on which it receives the Royal Assent.
Interpretation
3. In this Act, “Bank”
means the Asian Development Bank.
Contribution
to Asian Development Fund
4. The Minister may, on
behalf of Australia, notify the Bank of the intention of Australia to
contribute to the Bank, for the purposes of the Asian Development Fund, amounts
not exceeding in the aggregate $212,332,030.
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 the Commonwealth,
execute and issue to the Bank promissory notes.
(2) A promissory note
issued under sub-section (1)—
(a)
shall be payable to the Bank;
(b)
shall be non-negotiable and non-interest bearing; and
(c)
shall be payable at its par value on demand.
Appropriation
6.