International Development Association (Special Contribution) Act 1983
No. 88 of 1983
An Act relating to the making by Australia of a special contribution to the International Development Association
[Assented to 22 November 1983]
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 (Special Contribution) Act 1983.
Commencement
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Interpretation
3. In this Act, “the Association” means the International Development Association established by the Articles of Agreement of the International Development Association, a copy of which is set out in the Schedule to the International Development Association Act 1960.
Approval of making of special contribution
4. The making by Australia of a special contribution to the Association of an amount not exceeding $67,844,000 is approved.
Issue of promissory notes
5. (1) For the purpose of the payment of the special contribution referred to in section 4, the Treasurer may, on behalf of Australia, make promissory notes and issue them to the Association.
(2) A promissory note made under sub-section (1) shall be—
(a) payable to the Association;
(b) non-negotiable and non-interest bearing; and
(c) made payable at its par value on demand.
(3) Section 6 of the International Development Association Act 1960 does not apply in relation to the payment of the special contribution referred to in section 4.
Appropriation
6. The moneys necessary for the payment of the special contribution referred to in section 4, including the making of any payment that is to be made under a promissory note made under sub-section 5 (1), shall be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.
Overview
The International Development Association (Special Contribution) Act 1983 was enacted to address the need for Australia to make a special contribution to the International Development Association, an entity established to assist developing countries with their economic and social development. The Act was passed by the Parliament of Australia and received Royal Assent on 22 November 1983. The principal objective of this Act is to formally approve the contribution amount and outline the process for its payment through the issuance of promissory notes. This legislation ensures that the financial commitment is formally recognised and appropriately managed within the framework of Australia’s international development efforts.
Scope and Application
The International Development Association (Special Contribution) Act 1983 applies to the Commonwealth of Australia and pertains specifically to the approval and issuance of a special contribution to the International Development Association (IDA). This Act authorises the Australian government, through the Treasurer, to make a contribution of up to $67,844,000 to the IDA. It outlines the process for issuing promissory notes for the payment of this contribution, stipulating that such notes must be non-negotiable, non-interest bearing, and payable at par value on demand. The Act specifies that the payment of this special contribution is subject to appropriation from the Consolidated Revenue Fund. The Act does not extend its application beyond the specified contribution to the IDA and does not detail any exclusions, exemptions, or thresholds beyond the approved contribution amount. The Act’s scope is limited to the financial arrangement for this particular contribution, and its application does not extend to other entities, industries, or transactions outside the specified context.
Key Provisions
The International Development Association (Special Contribution) Act 1983 primarily concerns the approval and facilitation of a special contribution by Australia to the International Development Association (IDA) (sections 1–6). Section 4 approves the making of a special contribution up to a specified amount, while section 5 authorises the Treasurer to issue promissory notes for the payment of this contribution. These promissory notes must be non-negotiable, non-interest bearing, and payable at par value on demand. It is notable that section 6 of the International Development Association Act 1960 does not apply to the payment of this special contribution, as per section 5(3).
The Act imposes certain obligations on the Australian government and the Treasurer. Under section 4, the Australian government is obligated to make a special contribution to the IDA up to the specified amount. Section 5 mandates the Treasurer to issue promissory notes for this contribution, ensuring these notes meet the outlined criteria of being non-negotiable, non-interest bearing, and payable on demand at par value. Furthermore, section 6 specifies that the necessary funds for the contribution and any related payments must be sourced from the Consolidated Revenue Fund.
Regarding the consequences of non-compliance or breach of the Act, it does not explicitly outline specific offences, penalties, or other civil or criminal consequences. However, failure to meet the obligations set forth in the Act, such as not making the approved special contribution or not issuing the required promissory notes, could potentially lead to broader legal or financial repercussions under Australian law. Given the nature of the Act and its focus on facilitating an approved financial contribution, the absence of explicit penalties in the text might imply reliance on general legal and financial accountability mechanisms in place within Australia.