Treasury Laws Amendment (2020 Measures No. 2) Act 2020 (79 of 2020)

Schedule 4   Funding capital increases for the World Bank Group

International Monetary Agreements Act 1947

8   Section 9

Repeal the section, substitute:

9 Further agreements to buy extra shares in the Bank

(1) The Minister may, on behalf of Australia, enter into one or more agreements with the Bank that:

(a) provide for Australia to buy additional shares of the capital stock of the Bank; and

(b) contain terms and conditions determined by the Minister.

(2) The Consolidated Revenue Fund is appropriated for the purposes of payments by Australia under an agreement referred to in subsection (1).