Bretton Woods Agreements (Amendment) Act, 1969

Amendment of section 3 of Principal Act.

4.—(1) Section 3 of the Principal Act is hereby amended as follows:

(a) subsection (2) shall be construed and have effect as requiring the payments mentioned in paragraphs (a), (b), (c), (d), (f) and (g) thereof, as and when they become appropriate to be made on behalf of the Government, to be made by the Central Bank,

(b) by the deletion in subsection (3) of “Fund or the” and “Section 5 of Article III of the Fund Agreement and”,

(c) subsection (6) shall in relation to any moneys receivable by the Government from the Fund be construed and have effect as if “Any moneys receivable by the Government from the Fund shall be paid to the Central Bank.” were substituted for all the words therein, and

(d) “paragraphs (e), (h), (i) and (j) of subsection (2) of” shall be inserted after “under” in both subsection (4) and subsection (7).

(2) Subject to subsection (3) of this section, section 3 (8) of the Principal Act is hereby amended by the insertion of “and paragraph (b) of Article XXVII” and “or paragraph (b) of Article XXVII” after “Article VIII” in paragraph (c) and “Section 9 of Article IX” respectively.

(3) Subsection (2) of this section shall come into operation if, and only if, section 3 of this Act comes into effect.