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INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (GENERAL CAPITAL INCREASE) ACT 1989 - SECT 7

Annual Report

  (1)   As soon as practicable after the end of each financial year the Treasurer shall prepare and cause to be laid before each House of the Parliament a report on the operations of this Act during that financial year.

  (2)   Without limiting the generality of subsection   (1), the report shall include:

  (a)   a statement of the terms and conditions of any agreement or agreements made by the Treasurer with the Bank for the purchase by Australia of any additional shares under this Act; and

  (b)   a statement describing the nature and extent of Australia's participation as a member of the Bank and the affiliates during that year; and

  (c)   an assessment of the managerial efficiency, and financial and economic effectiveness, of the Bank in carrying out its purposes as provided for in Article 1 of the Bank Agreement; and

  (d)   an assessment of the managerial efficiency, and financial and economic effectiveness, of the Association in carrying out its purposes as provided for in Article 1 of the Articles of Agreement set out in the Schedule of the International Development Association Act 1960 ; and

  (e)   an assessment of the managerial efficiency, and financial and economic effectiveness, of the Corporation in carrying out its purpose as provided for in Schedule   1 of the Articles of Agreement set out in the first Schedule of the International Finance Corporation Act 1955 .



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