INTERNATIONAL MONETARY AGREEMENTS ACT 1959 

INTERNATIONAL MONETARY AGREEMENTS ACT 1959 
- TABLE OF PROVISIONS

1.   Short title [see Note 1]    
2.   Commencement [see Note 1]    
3.   Consent to increases in quota and capital stock    
4.   Appropriation    
5.   Issue of securities    

INTERNATIONAL MONETARY AGREEMENTS ACT 1959

- LONG TITLE

An Act relating to a proposed adjustment of the Quotas of
members of the International Monetary Fund and to a proposed increase of the
Capital Stock of the International Bank for Reconstruction and
Development

INTERNATIONAL MONETARY AGREEMENTS ACT 1959
- SECT 1   Short title [see Note 1] 

 
        This Act may be cited as the International Monetary Agreements Act 1959.

INTERNATIONAL MONETARY AGREEMENTS ACT 1959
- SECT 2   Commencement [see Note 1] 

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

INTERNATIONAL MONETARY AGREEMENTS ACT 1959
- SECT 3   Consent to increases in quota and capital stock 

 
        The approval of the Parliament is hereby given:

        (a)  to Australia consenting to an increase by one-half of the quota of
Australia in the International Monetary Fund; and
        (b)  to Australia subscribing the shares of the capital stock of the
International Bank for Reconstruction and Development that Australia will
become entitled to subscribe if the proposal to increase the authorized capital
stock of the International Bank for Reconstruction and Development by Ten
thousand million United States dollars becomes effective.

INTERNATIONAL MONETARY AGREEMENTS ACT 1959
- SECT 4   Appropriation 

 
        Any payment required to be made by Australia to the International Monetary
Fund by reason of the increase of the quota of Australia in that Fund referred
to in paragraph (a) of the last preceding section shall be paid out of the
Consolidated Revenue Fund, which is appropriated accordingly.

INTERNATIONAL MONETARY AGREEMENTS ACT 1959
- SECT 5   Issue of securities 

 
        Section seven of the International Monetary Agreements Act 1947
applies to any payment referred to in the last preceding section as it
applies to payments under that Act.

INTERNATIONAL MONETARY AGREEMENTS ACT 1959

- NOTES

Compilation Information

International Monetary Agreements Act 1959
Act No. 33 of 1959
  
  
  

INTERNATIONAL MONETARY AGREEMENTS ACT 1959

- NOTES

Preamble

WHEREAS the International Monetary Fund has proposed an adjustment of the
quotas of members of the Fund and, in particular, has proposed an increase by
one-half of the quota of Australia:
AND WHEREAS the International Bank for Reconstruction and Development proposes
to increase the capital stock of the Bank by Ten thousand million United States
dollars:
BE it therefore enacted by the Queen's Most Excellent Majesty, the Senate, and
the House of Representatives of the Commonwealth of Australia, as follows:

INTERNATIONAL MONETARY AGREEMENTS ACT 1959

- NOTES

INTERNATIONAL MONETARY AGREEMENTS ACT 1959Notes to the International Monetary Agreements Act 1959

Note 1
Act No. 33, 1959; assented to and commenced 13 May 1959.