Commonwealth Numbered Acts

ASIAN DEVELOPMENT BANK (SPECIAL FUNDS CONTRIBUTIONS) AMENDMENT ACT 1976 No. 147 of 1976 - SECT 3

3. After section 5 of the Asian Development Bank (Special Funds Contributions)
Act 1970*2* the following section is inserted:- Transfer to Asian Development
Fund.
''5A. (1) Notwithstanding anything in sections 4 and 5, the Minister may, on
behalf of the Commonwealth, make an agreement with the Bank providing for-

   (a)  the transfer to the Asian Development Fund of the Bank of so much of
        the amount standing to the credit of the Multi-Purpose Special Fund of
        the Bank at a date specified in the agreement as consists of-

        (i)    moneys contributed in accordance with this Act;

        (ii)   moneys received by the Bank in repayment of loans made out of
               moneys so contributed; and

        (iii)  interest received by the Bank on moneys referred to in
               sub-paragraphs (i) and (ii); and

   (b)  the use, for the purposes of the Asian Development Fund, of the amount
        so transferred.

''(2) An agreement in accordance with this section may contain such terms and
conditions as the Minister determines, and may vary or rescind an agreement
made under section 4.''.
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