International Monetary Agreements Act 1974
No. 22, 1974
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 Monetary Agreements Act 1974 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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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 Definitions
4 Subscription for capital stock of Bank
5 Issue of promissory notes
6 Appropriation
Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
An Act to authorize Australia to Subscribe for Additional Shares of the Capital Stock of the International Bank for Reconstruction and Development
1 Short title
This Act may be cited as the International Monetary Agreements Act 1974.
2 Commencement
This Act shall come into operation on the day on which it receives the Royal Assent.
3 Definitions
In this Act, unless the contrary intention appears:
Bank means the International Bank for Reconstruction and Development.
United States dollar means a dollar in the currency of the United States of America of the weight and fineness that was in effect on 1 July 1944.
4 Subscription for capital stock of Bank
(1) The Treasurer may, on behalf of Australia, make an agreement or agreements with the Bank providing for the purchase by Australia of 341 additional shares of the capital stock of the Bank at a price per share that is the equivalent of 100,000 United States dollars.
(2) Subject to this Act, an agreement so made may contain such terms and conditions as the Treasurer determines.
5 Issue of promissory notes
(1) To the extent to which the Bank is prepared to accept promissory notes from Australia in lieu of any payment that Australia is required to make to the Bank in pursuance of an agreement made under this Act, the Treasurer may, on behalf of Australia, execute and issue to the Bank promissory notes.
(2) A promissory note issued under subsection (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.
6 Appropriation
There may be paid out of the Consolidated Revenue Fund, which is appropriated accordingly, the moneys necessary for the purpose of making any payment that is to be made by Australia:
(a) in pursuance of an agreement made under this Act; or
(b) under a promissory note issued under this Act.
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 Monetary Agreements Act 1974 | 22, 1974 | 29 July 1974 | 29 July 1974 (s 2) |
|
Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 | 67, 2024 | 9 July 2024 | Sch 4 (item 28): 10 July 2024 (s 2(1) item 8) | — |
Endnote 4—Amendment history
Provision affected | How affected |
s 3..................... | am No 67, 2024 |