This Bill proposes to amend the (Cth) International Monetary Agreements Act 1947 to simplify the process for Australia to accept agreed amendments to the articles of agreement of the International Monetary Fund and the World Bank.
This is to amend the definition of the 'Fund Agreement' and the definition of 'Bank Agreement' to include any amendments of the relevant Articles of Agreement that enter into force for Australia without the requirement for further legislative changes while retaining policy and parliamentary scrutiny.
Introduced: 19 March 2009 by Chris Bowen MP (Assistant Treasurer and Minister for Competition Policy and Consumer Affairs).