ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972 

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972 
- TABLE OF PROVISIONS

1.   Short title [see Note 1]     
2.   Commencement [see Note 1]     
3.   Interpretation    
4.   Subscription for capital stock of the Bank    
5.   Agreement subject to increase of capital stock    
6.   Issue of promissory notes    
7.   Appropriation    

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972

- LONG TITLE

An Act to authorize Australia to subscribe for shares of
the capital stock of the Asian Development Bank

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972
- SECT 1   Short title [see Note 1]  

 
        This Act may be cited as the Asian Development Bank (Additional
Subscription) Act 1972.

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972
- SECT 2   Commencement [see Note 1]  

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

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972
- SECT 3   Interpretation 

 
        In this Act, unless the contrary intention appears:

callable shares and paid-in shares have the same
respective meanings as in the Agreement establishing the Asian Development
Bank, a copy of which is set out in the Schedule to the Asian Development
Bank Act 1966.
"the Bank" means the Asian Development Bank.
"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 the
thirty-first day of January, One thousand nine hundred and sixty-six.

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972
- SECT 4   Subscription for capital stock of the Bank 

 
(1)  The Treasurer may, on behalf of the Commonwealth, make an agreement or
agreements with the Bank providing for the purchase by Australia of Two
thousand five hundred and fifty paid-in shares, and Ten thousand two hundred
callable shares, of the capital stock of the Bank at a price per share that is
the equivalent of Ten thousand United States dollars. 
(2)  Subject to this Act, an agreement so made may contain such terms and
conditions as the Treasurer determines.

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972
- SECT 5   Agreement subject to increase of capital stock 

 
        An agreement made under this Act does not have effect before the authorized
capital stock of the Bank has been increased by an amount that is the
equivalent of One thousand six hundred and fifty million United States dollars.

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972
- SECT 6   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 the Commonwealth, execute and issue to the Bank promissory notes. 
(2)  A promissory note issued under the last preceding subsection:

        (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.

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972
- SECT 7   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.

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972

- NOTES

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972

- NOTES

ASIAN DEVELOPMENT BANK (ADDITIONAL SUBSCRIPTION) ACT 1972Notes to the Asian Development Bank (Additional Subscription) Act 1972

Note 1
Act No. 60, 1972; assented to and commenced 31 August 1972.