International Monetary Agreements Act 1966 (Cth)

International Monetary Agreements

No. 37 of 1966

An Act to amend the International Monetary Agreements Act 1947–1963 in consequence of an amendment of the Articles of Agreement of the International Bank for Reconstruction and Development.

[Assented to 12 September, 1966]

BE it enacted by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation. 1.—(1.) This Act may be cited as the International Monetary Agreements Act 1966. (2.) The International Monetary Agreements Act 1947–1963 is in this Act referred to as the Principal Act. (3.) The Principal Act, as amended by this Act, may be cited as the International Monetary Agreements Act 1947–1966.

Commencement. 2. This Act shall come into operation on the day on which it receives the Royal Assent.

Definitions. 3. Section 3 of the Principal Act is amended by omitting the definition of "the Bank Agreement", and inserting in its stead the following definition:— "'the Bank Agreement' means the Articles of Agreement of the International Bank for Reconstruction and Development set out in the Second Schedule to this Act, as amended in accordance with the resolution of the Board of Governors of that Bank set out in the Third Schedule to this Act, and having effect from the seventeenth day of December, One thousand nine hundred and sixty-five, being an amendment that has been accepted in accordance with Article VIII of those Articles.".

4. Section 4 of the Principal Act is repealed and the following section inserted in its stead:—

Membership of Australia of the Fund and of the Bank. "4. The membership of Australia of the Fund and of the Bank is approved.".

Third Schedule. 5. The Principal Act is amended by adding at the end thereof the following Schedule:—