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International Fund for Agricultural Development Act 1992

LAWS OF MALAYSIA

REPRINT

Act 483

INTERNATIONAL FUND FOR

AGRICULTURAL DEVELOPMENT

ACT 1992

Incorporating all amendments up to 1 January 2006 PUBLISHED BY

THE COMMISSIONER OF LAW REVISION, MALAYSIA

UNDER THE AUTHORITY OF THE REVISION OF LAWS ACT 1968 IN COLLABORATION WITH

PERCETAKAN NASIONAL MALAYSIA BHD

2006

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INTERNATIONAL FUND FOR AGRICULTURAL

DEVELOPMENT ACT 1992

Date of Royal Assent ... ... ... ... ... 30 January 1992 Date of publication in the Gazette ... ... 20 February 1992 PREVIOUS REPRINT

First Reprint ... ... ... ... ... 2001

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LAWS OF MALAYSIA

Act 483

INTERNATIONAL FUND FOR

AGRICULTURAL DEVELOPMENT ACT 1992

ARRANGEMENT OF SECTIONS

Section

1. Short title and application

2. Interpretation

3. Authorization of Signature of Agreement

4. Contribution to Fund

5. Approval of Dewan Rakyat for additional contribution to Fund

6. Issue of non-negotiable and non-interest bearing notes

7. Charge of other payments to the Consolidated Fund

8. Receipts

9. Orders for carrying the Agreement into effect 4 Laws of Malaysia ACT 483

5International Fund for Agricultural Development

LAWS OF MALAYSIA

Act 483

INTERNATIONAL FUND FOR

AGRICULTURAL DEVELOPMENT ACT 1992

An Act to enable Malaysia to become a member of the International Fund for Agricultural Development by acceptance of the Agreement Establishing the International Fund for Agricultural Development. [21 February 1992]

BE IT ENACTED by the Seri Paduka Baginda Yang di-Pertuan Agong with the advice and consent of the Dewan Negara and Dewan Rakyat in Parliament assembled, and by the authority of the same, as follows:

Short title and application

1. (1) ThisActmaybecitedastheInternationalFundforAgricultural Development Act 1992.

(2) This Act shall apply throughout Malaysia.

Interpretation

2. 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 ConferenceontheEstablishmentofanInternationalFundforAgricultural Development on 13 June 1976 in Rome, and whereby a 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;

6 Laws of Malaysia ACT 483

"Fund"meanstheInternationalFundForAgriculturalDevelopment established by the Agreement.

Authorization of Signature of Agreement

3. 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--

(a) to sign the Agreement; and

(b) to deposit with the Fund an instrument of acceptance of the Agreement setting forth that the Government of Malaysia has accepted the Agreement in accordance with its law and has taken all steps necessary to enable the Government of Malaysia to carry out all of its obligations under the Agreement.

Contribution to Fund

4. (1) There shall be charged on the Consolidated Fund such part of the contribution of Malaysia to the Fund pursuant to section 3 of Article 4 of the Agreement as may, in accordance with section 5 of Article 4 of the Agreement, be payable in freely convertible currency or in Malaysian currency.

(2) Subject to section 5, there shall be charged on the Consolidated Fund such part of any increase in the contribution of Malaysia to the Fund as may, pursuant to section 4 of Article 4 of the Agreement, be payable in freely convertible currency or in Malaysian currency. Approval of Dewan Rakyat for additional contribution to Fund

5. 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. 7International Fund for Agricultural Development

Issue of non-negotiable and non-interest bearing notes

6. 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--

(a) 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 Article 4 of the Agreement; or

(b) pursuanttosection4ofArticle4oftheAgreementdetermine to accept in place of any Malaysian currency in relation to any increase in the contribution of Malaysia to the Fund. Charge of other payments to the Consolidated Fund

7. There shall be charged on the Consolidated Fund-- (a) all sums payable to the Fund by Malaysia under section 2(b) of Article 5 of the Agreement (which relates to valuation of currencies);

(b) all sums required for the redemption of any notes or obligations created and issued to the Fund under section 6; (c) any sum due to the Fund by Malaysia under section 3 of Article 9 of the Agreement (which relates to the rights and duties of States ceasing to be members of the Fund). Receipts

8. All moneys received by or on behalf of the Government of Malaysia from the Fund shall be paid into the Consolidated Fund. Orders for carrying the Agreement into effect

9. (1) TheYangdi-PertuanAgongmaybyordermakesuchprovisions 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.

(2) Withoutprejudicetothegeneralityoftheprovisionsofsubsection (1), any order made under the subsection may declare that any specified provisions of the Agreement shall have the force of law in Malaysia. 8 Laws of Malaysia ACT 483

LAWS OF MALAYSIA

Act 483

INTERNATIONAL FUND FOR

AGRICULTURAL DEVELOPMENT ACT 1992

LIST OF AMENDMENTS

Amending law Short title In force from

­ NIL ­

9International Fund for Agricultural Development

DICETAK OLEH

PERCETAKAN NASIONAL MALAYSIA BERHAD,

KUALA LUMPUR

BAGI PIHAK DAN DENGAN PERINTAH KERAJAAN MALAYSIA

LAWS OF MALAYSIA

Act 483

INTERNATIONAL FUND FOR

AGRICULTURAL DEVELOPMENT ACT 1992

LIST OF SECTIONS AMENDED

Section Amending authority In force from

­ NIL ­