Commonwealth Consolidated Acts

INTERNATIONAL FUND FOR AGRICULTURAL DEVELOPMENT ACT 1977 - SECT 6

(1)

To the extent to which the fund is prepared to accept from Australia, in place of a payment that Australia is required to make to the Fund, promissory notes or other obligations issued by Australia, the Treasurer may, on behalf of Australia, execute and issue such securities to the Fund.

(2)

Securities issued under subsection (1):

(a)

shall be payable to the Fund;

(b)

shall be non-negotiable, irrevocable and non-interest bearing; and

(c)

shall be payable at their par value on demand.