Section 2: Payments to International Fund and Bank.

The International Monetary Fund and Bank Act, 1945Central Act · Act 47 of 1945

(1) [There shall be paid, after due appropriation made by Parliament by law in this behalf, out of the Consolidated Fund of India] all such sums as may from time to time be required for the purpose of paying--

(a) the subscriptions payable by the Central Government, to the International Fund under paragraph (a) of section 3 * * * of Article III of the Fund Agreement, and [to the International Bank under paragraphs (a) and (c)] of section 3 of Article II of the Bank Agreement;

(b) any sums payable by the Central Government to the International Fund under [section 11 of Article V] of the Fund Agreement, and to the International Bank under section 9 of Article II of the Bank Agreement;

(c) any charges payable by the Central Government to the International Fund under section 8 of Article V [, or under section 2, section 3 or section 5 of [Article XX]],] of the Fund Agreement;

(d) any sums required for implementing the guarantee of the Central Government referred to in section 3 of Article XIII of the Fund Agreement;

[(dd) any assessments required to be paid by the Central Government to the International Fund under section 4 or section 5 of [Article XX] of the Fund Agreement;]

(e) any compensation required to be paid by the Central Government to the International Fund or to any member thereof under [Schedule I, Schedule J or Schedule K] to the Fund Agreement.

(2) The Central Government may, if it thinks fit so to do, create and issue to the International Fund or International Bank, in such form as it thinks fit, any such non-interest bearing and nonnegotiable notes or other obligations as are provided for by [section 4] of Article III of the Fund Agreement and section 12 of Article V of the Bank Agreement.

Where this provision sits

Act	The International Monetary Fund and Bank Act, 1945
Section	2
Marginal note	Payments to International Fund and Bank.
Jurisdiction	Central
Status	In force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

substituted, Act 41 of 1969. . Subs. by Act 41 of 1969, s. 2, for certain words (w.e.f. 26-12-1981).
omitted, Act 67 of 1982. . Omitted by Act 67 of 1982, s. 2 (w.e.f. 15-1-1983).
substituted, Act 25 of 1959. . Subs. by Act 25 of 1959, s. 4, for "to the International Bank under paragraph (a)".
substituted, Act 67 of 1982. . Subs. by Act 67 of 1982, s. 2, for "paragraph (b) of section of Article IV" (w.e.f. 15-1-1983).
inserted, Act 41 of 1969. . Ins. by Act 41 of 1969, s. 2 (w.e.f. 26-12-1981).
substituted, Act 67 of 1982. . Subs. by Act 67 of 1982, s. 2, for "Article XXVI" (w.e.f. 15-1-1983).
inserted, Act 41 of 1969. . Ins by Act 41 of 1969, s. 2 (w.e.f. 26-12-1981).
substituted, Act 67 of 1982. . Subs. by Act 67 of 1982, s. 2, for "Article XXVI" (w.e.f. 15-1-1983).
substituted. . Subs. by s. 2, ibid., for "Schedule D or Schedule E" (w.e.f. 15-1-1983).
substituted. . Subs. by s. 2, ibid., for "section 5" (w.e.f. 15-1-1983).

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