Commonwealth Consolidated Acts

OFFICIAL DEVELOPMENT ASSISTANCE MULTILATERAL REPLENISHMENT OBLIGATIONS (SPECIAL APPROPRIATION) ACT 2020 - SECT 5

  (1)   The Treasurer may, on behalf of Australia, make promissory notes and issue them to an international body specified in column 1 of an item in the table in section   4, for the purposes of making any payment required to be made by Australia in accordance with an agreement specified in column 2 of the item.

  (2)   A promissory note made under subsection   (1) is to be:

  (a)   non - negotiable; and

  (b)   non - interest - bearing; and

  (c)   payable at par value upon demand.