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This is a Bill, not an Act. For current law, see the Acts databases.
2016-2017
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
International Monetary Agreements
Amendment Bill 2017
No. , 2017
(Treasury)
A Bill for an Act to amend the International
Monetary Agreements Act 1947, and for related
purposes
No. , 2017
International Monetary Agreements Amendment Bill 2017
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
International Monetary Agreements Act 1947
3
No. , 2017
International Monetary Agreements Amendment Bill 2017
1
A Bill for an Act to amend the International
1
Monetary Agreements Act 1947, and for related
2
purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act is the International Monetary Agreements Amendment Act
6
2017.
7
2 Commencement
8
(1) Each provision of this Act specified in column 1 of the table
9
commences, or is taken to have commenced, in accordance with
10
column 2 of the table. Any other statement in column 2 has effect
11
according to its terms.
12
13
2
International Monetary Agreements Amendment Bill 2017
No. , 2017
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
The later of:
(a) the day after this Act receives the Royal
Assent; and
(b) the day the Loan Agreement between
Australia and the International Monetary
Fund, done at Canberra on 19 December
2016 and Washington D.C. on 4 January
2017, enters into force for Australia.
However, the provisions do not commence
at all if the event mentioned in paragraph (b)
does not occur within the period of 6 months
beginning on the day this Act receives the
Royal Assent.
The Minister must announce, by notifiable
instrument, the day the Loan Agreement
enters into force for Australia.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedules
7
Legislation that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
Amendments Schedule 1
No. , 2017
International Monetary Agreements Amendment Bill 2017
3
Schedule 1--Amendments
1
2
International Monetary Agreements Act 1947
3
1 Section 3 (definition of IMF loan agreement 2012)
4
Repeal the definition.
5
2 Section 3
6
Insert:
7
IMF loan agreement 2016 means the Loan Agreement between
8
Australia and the International Monetary Fund, done at Canberra
9
on 19 December 2016 and Washington D.C. on 4 January 2017, as
10
amended by any amendment of the agreement that is notified under
11
subsection 8CAA(3).
12
Note:
The Loan Agreement could in 2017 be viewed in the Australian
13
Treaties Library on the AustLII website (http://www.austlii.edu.au).
14
3 Paragraph 6(1)(c)
15
Omit "IMF loan agreement 2012", substitute "IMF loan agreement
16
2016".
17
4 Section 8CAA (heading)
18
Repeal the heading, substitute:
19
8CAA Appropriation for the purposes of the IMF loan agreement
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2016
21
5 Subsection 8CAA(1)
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Omit "IMF loan agreement 2012", substitute "IMF loan agreement
23
2016".
24
6 Subsection 8CAA(3) (heading)
25
Repeal the heading, substitute:
26
Schedule 1 Amendments
4
International Monetary Agreements Amendment Bill 2017
No. , 2017
Amendment of the IMF loan agreement 2016
1
7 Subsection 8CAA(3)
2
Omit "IMF loan agreement 2012", substitute "IMF loan agreement
3
2016".
4
8 Subsection 8CAA(3) (note 1)
5
Omit "IMF loan agreement 2012", substitute "IMF loan agreement
6
2016".
7
9 Subsection 8CAA(3) (note 2)
8
Repeal the note, substitute:
9
Note 2:
The agreement provides that it expires on 31 December 2019, but may
10
be extended for 1 year (see paragraph 2(a) of the agreement).
11
10 Subsection 8CAA(5)
12
Omit "IMF loan agreement 2012", substitute "IMF loan agreement
13
2016".
14
11 Application of amendments
15
(1)
This item applies if, before the commencement of this item, notice has
16
been given as described in subparagraph 2(b) of the IMF loan
17
agreement 2012 that the activation threshold (within the meaning of that
18
agreement) has been reached.
19
(2)
Despite the amendments made by this Schedule, the International
20
Monetary Agreements Act 1947 continues to apply, in relation to
21
Australia's obligations under the IMF loan agreement 2012, as if those
22
amendments had not been made.
23
(3)
For this item:
24
IMF loan agreement 2012 has the meaning given by section 3 of the
25
International Monetary Agreements Act 1947 (as in force immediately
26
before the commencement of this item).
27