International Development Association (Further Payment) Act 1984
No. 137 of 1984
An Act to approve the making by Australia of a further payment to the International Development Association
[Assented to 25 October 1984]
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 1984.
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 $200,000,000, of which payment an amount not exceeding $161,410 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. A payment under section 4, and any payment necessary to redeem a security issued under sub-section 6 (1), shall be made out of the Consolidated Revenue Fund, which is appropriated accordingly.
Overview
The International Development Association (Further Payment) Act 1984 was enacted to facilitate Australia's contribution to the International Development Association (IDA) by approving a further payment of up to $200,000,000. This Act was introduced to address the need for Australia to continue supporting the IDA's efforts in alleviating poverty and fostering economic growth in developing countries. The Act was assented to on 25 October 1984 by the Queen, in accordance with the authority of the Australian Parliament, to ensure that the financial support provided by Australia aligns with its international development commitments. The policy objective is to enable Australia to participate actively in the IDA's initiatives, thereby contributing to global development goals and enhancing international cooperation.
Scope and Application
The International Development Association (Further Payment) Act 1984 applies to the Australian government, specifically empowering the Minister to make a further payment to the International Development Association (IDA), a component of the World Bank Group. This Act authorises Australia to contribute up to $200,000,000 to the IDA, with a portion allocated as an additional subscription. The Act operates under the Commonwealth jurisdiction, with its provisions binding within Australia and its international commitments. There are no specific exclusions mentioned in the Act; however, it does provide an exception to the application of section 6 of the International Development Association Act 1960 regarding the issuance of promissory notes or similar obligations. The Act does not detail extensions or restrictions through subordinate instruments, thus its scope is confined to the provisions outlined in the primary legislation.
Key Provisions
The International Development Association (Further Payment) Act 1984 (sections 1 to 7) primarily provides for the approval of a further payment by Australia to the International Development Association (IDA). Under section 4, the Act grants approval for Australia to make a further payment to the IDA, up to a maximum of $200,000,000. This payment includes an additional subscription to the IDA under Section 1 of Article III of the Agreement, up to $161,410. Section 5 allows the Minister to notify the IDA of Australia's intention to make this payment. Furthermore, section 6 enables the Treasurer to issue promissory notes or similar obligations to the IDA, as long as the IDA is willing to accept them in lieu of direct payment, while section 6(2) clarifies that the provisions of section 6 of the International Development Association Act 1960 do not apply to payments made under this Act. Finally, section 7 specifies that payments under section 4, as well as any payments needed to redeem securities issued under section 6(1), will be made from the Consolidated Revenue Fund.
The Act imposes certain obligations on the parties involved. The Minister, acting on behalf of Australia, is required to notify the IDA of Australia's intention to make the approved payment (section 5). Additionally, the Treasurer is authorised to issue promissory notes or similar obligations to the IDA, subject to the IDA's acceptance (section 6). These provisions ensure that the payment process is transparent and that the IDA is informed of Australia's commitment to contribute further funds.
The Act does not explicitly outline specific offences, penalties, or civil/criminal consequences for non-compliance. However, the nature of the Act suggests that failure to adhere to the stipulated procedures for making the payment, such as not notifying the IDA or not appropriating funds from the Consolidated Revenue Fund, could potentially lead to legal or financial repercussions. Given the formal and binding nature of the Act, any breaches might result in legal action or administrative consequences, though the precise penalties are not specified within the text of the Act itself.