Bretton Woods Agreements (Amendment) Act 2022

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Approval of NAB Decision

2. (1) The terms of the NAB Decision and the State’s adherence to the NAB Decision are hereby approved.

(2) The Minister shall have all such powers as are necessary to give effect to the State’s adherence to the NAB Decision, including consenting on behalf of the State to amendments to the NAB Decision following consultation with the Central Bank.

(3) The Central Bank shall, on behalf of the State, perform the obligations and exercise the rights of the State arising from the State’s adherence to the NAB Decision, and is authorised, in particular, to make a payment to the Fund arising from a call by the Fund.

(4) The Central Bank shall have all such powers as are necessary to perform the obligations and exercise the rights of the State arising from the State’s adherence to the NAB Decision.

(5) Any moneys received by or on behalf of the State in accordance with the NAB Decision shall be paid to the Central Bank.