Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) To the extent to which the Bank is prepared to accept from Australia, in lieu of any payment that Australia is required to make to the Bank, promissory notes or other obligations issued by Australia, the Governor - General may authorize the issue of securities.
(2) Securities 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 their par value on demand.