International Monetary Fund and Bank Act,1945
Act No : 0
Section : PAYMENTS TO INTERNATIONAL FUND AND BANK
SECTION 02: PAYMENTS TO INTERNATIONAL FUND AND BANK
- (1)5[There shall be paid after due appropria- tion 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,6[to the
International Bank under paragraphs (a) and
(c)] of S. 37[* * *] of Article III of the Fund Agreement, and to the International Bank under paragraph (a) ofsection 3-of Article II of the Bank Agreement;
(b) any sums payable by the Central Government lo the International Fund under 8[section 11of Article V) of the Fund Agreement, and to the International Bank undersection 9of Article II of the Bank Agreement;
(c) any charges payable by the Central Government to the International Fund under section 8of10[Article XX]9[or undersection 2-,section 3-orsection 5-,] of the Fund Agreement;
(d) any sums required for implementing the guarantee of the Central Government referred to insection 3-of Article XIII of the Fund Agreement;11 [(dd) any assessments required to be paid by the Central Government to the
International Fund undersection 4-orsection 5-of10[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 under12[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-hearing and non-negotiable notes or other obligations as are provided for by 13[section 4-] of Article III of the Fund Agreement andsection 12of Article V of the Bank Agreement.
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