International Fund for Agricultural Development Act 1992

This Act may be cited as the International Fund for

This Act shall apply throughout Malaysia.

In this Act, unless the context otherwise requires-

“Agreement” means the Agreement Establishing the International

Fund for Agricultural Development as adopted by the United Nations

Conference on the Establishment of an International Fund for

Agricultural Development on 13 June 1976 in Rome, and whereby a

6 Laws of Malaysia ACT 483

copy of the text was laid before the Dewan Rakyat as Statute Paper

No. 147 of 1991;

“Freely convertible currency” means such currency as is deemed to be freely convertible in accordance with Article I(d) of the

Agreement;

“Fund”

means the

International

Fund

For

Agricultural

Development established by the Agreement.

The Yang di-Pertuan Agong may, by instrument under his hand, empower such person as may be named in such instrument, on behalf of the Government of Malaysia—

to sign the Agreement; and

to deposit with the Fund an instrument of acceptance of the Agreement setting forth that the Government of

There shall be charged on the Consolidated Fund such part of the contribution of Malaysia to the Fund pursuant to section 3 of

Subject to section 5, there shall be charged on the

Whenever any increase in the contribution of Malaysia to the

Fund is authorized pursuant to section 4 of Article 4 of the

Agreement, no amount shall be contributed in respect thereof except with the prior approval, signified by resolution, of the Dewan Rakyat.

The Minister of Finance may, on behalf of the Government, create and issue to the Fund, in such form as he thinks fit, any such non-negotiable and non-interest bearing notes or similar obligations as the Fund may

accept from the Government in place of any Malaysian currency paid or payable by the Government under section 5(b) of Article 4 of the Agreement or under section 5(c) of

pursuant to section 4 of Article 4 of the Agreement determine to accept in place of any Malaysian currency in relation to any increase in the contribution of Malaysia to the Fund.

There shall be charged on the Consolidated Fund—

all sums payable to the Fund by Malaysia under section 2(b) of Article 5 of the Agreement (which relates to valuation of currencies);

all sums required for the redemption of any notes or obligations created and issued to the Fund under section 6;

any sum due to the Fund by Malaysia under section 3 of

All moneys received by or on behalf of the Government of

Malaysia from the Fund shall be paid into the Consolidated Fund.

The Yang di-Pertuan Agong may by order make such provisions as he may consider reasonably necessary for carrying into effect any of the provisions of the Agreement relating to the status, immunities and privileges of the Fund and their respective governors, executive directors, alternates, officers and employees.

Without prejudice to the generality of the provisions of subsection (1), any order made under the subsection may declare that any specified provisions of the Agreement shall have the force of law in Malaysia.