International
Development Association (Further Payment) Act 1980
No. 10 of 1980
An Act to
approve the making by Australia of a further payment to the International
Development Association
[Assented to 8 April 1980]
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 International Development
Association (Further Payment) Act 1980.
Commencement
2. This Act shall come
into operation on the day on which it receives the Royal Assent.
Interpretation
3. In this Act, “Agreement”
and “Association” have the same respective meanings as they have in the International Development Association Act 1960.
Approval
of making of further payment
4. Approval is given to
the making by Australia to the Association of a further payment of an amount
not exceeding $203,530,000, of which payment an amount not exceeding
$307,758.60 is by way of an additional subscription to the Association under
Section 1 of Article III of the Agreement.
Minister
may notify Association of intention to make payment
5. The Minister may, on
behalf of Australia, notify the Association of the intention of Australia to
make the payment referred to in section 4.
Issue
of securities
6. (1) To the extent to which the Association is prepared to accept
from Australia, in place of a payment under section 4, promissory notes or
similar obligations issued by Australia, the Treasurer may, on behalf of
Australia, execute promissory notes or similar obligations payable to the
Association.
(2) Section 6 of the International Development Association Act 1960
does not apply to a payment under this Act.
Appropriation
7.