International Bank for Reconstruction and Development (General Capital Increase) Act 1989
No. 10, 1989
Compilation No. 1
Compilation date: 10 July 2024
Includes amendments: Act No. 67, 2024
Registered: 22 July 2024
About this compilation
This compilation
This is a compilation of the International Bank for Reconstruction and Development (General Capital Increase) Act 1989 that shows the text of the law as amended and in force on 10 July 2024 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self‑repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
1 Short title
2 Commencement
3 Interpretation
4 Agreements for purchase of additional shares of capital stock of the Bank
5 Issue of securities
6 Appropriation
7 Annual Report
Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
An Act relating to the purchase of further shares of the capital stock of the International Bank for Reconstruction and Development
1 Short title
This Act may be cited as the International Bank for Reconstruction and Development (General Capital Increase) Act 1989.
2 Commencement
This Act commences on the day on which it receives the Royal Assent.
3 Interpretation
In this Act, unless the contrary intention appears:
affiliates means the Association and the Corporation.
Association means the International Development Association established under the Articles of Agreement set out in the Schedule to the International Development Association Act 1960.
Bank means the International Bank for Reconstruction and Development.
Bank Agreement has the same meaning as in the International Monetary Agreements Act 1947.
Corporation means the International Finance Corporation established under the Articles of Agreement referred to in section 3 of the International Finance Corporation Act 1955.
4 Agreements for purchase of additional shares of capital stock of the Bank
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 7,880 additional shares of the capital stock of the Bank at a price per share that is the equivalent of 120,635 United States dollars.
5 Issue of securities
(1) Subject to subsection (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.
(2) Securities issued for the purposes of this section shall be payable in accordance with the terms and conditions of an agreement under section 4.
6 Appropriation
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.
7 Annual Report
(1) As soon as practicable after the end of each financial year the Treasurer shall prepare and cause to be laid before each House of the Parliament a report on the operations of this Act during that financial year.
(2) Without limiting the generality of subsection (1), the report shall include:
(a) a statement of the terms and conditions of any agreement or agreements made by the Treasurer with the Bank for the purchase by Australia of any additional shares under this Act; and
(b) a statement describing the nature and extent of Australia’s participation as a member of the Bank and the affiliates during that year; and
(c) an assessment of the managerial efficiency, and financial and economic effectiveness, of the Bank in carrying out its purposes as provided for in Article 1 of the Bank Agreement; and
(d) an assessment of the managerial efficiency, and financial and economic effectiveness, of the Association in carrying out its purposes as provided for in Article 1 of the Articles of Agreement set out in the Schedule of the International Development Association Act 1960; and
(e) an assessment of the managerial efficiency, and financial and economic effectiveness, of the Corporation in carrying out its purpose as provided for in Schedule 1 of the Articles of Agreement set out in the first Schedule of the International Finance Corporation Act 1955.
Endnotes
Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.
Endnote 2—Abbreviation key
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub‑subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev…) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = Legislation Act 2003 | Sch = Schedule(s) |
LIA = Legislative Instruments Act 2003 | Sdiv = Subdivision(s) |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub‑Ch = Sub‑Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | underlining = whole or part not |
No. = Number(s) | commenced or to be commenced |
Endnote 3—Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
International Bank for Reconstruction and Development (General Capital Increase) Act 1989 | 10, 1989 | 16 Mar 1989 | 16 Mar 1989 (s 2) |
|
Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 | 67, 2024 | 9 July 2024 | Sch 4 (items 14–17): 10 July 2024 (s 2(1) item 8) | — |
Endnote 4—Amendment history
Provision affected | How affected |
s 3..................... | am No 67, 2024 |
s 7..................... | am No 67, 2024 |