Bretton Woods Agreements Act

BRETTON WOODS AGREEMENTS ACT. ARRANGEMENT OF SECTIONS. Section Preamble. 1. Interpretation. 2. Acceptance of agreements. 3. Acceptance of the amendment to the fund agreement. 4. Financial provisions. 5. Special drawing rights. 6. Certain provisions of agreements to have force of law. 7. Effect of certain East African Community Acts modified. 8. Regulations. Schedule Provisions of agreements which have the force of law. CHAPTER 169 BRETTON WOODS AGREEMENTS ACT. Commencement : 22 February, 1963. An Act to make provision with respect to acceptance by Uganda of the agreements for the International Monetary Fund and the International Bank for Reconstruction and Development and to provide for related matters. Preamble.

ements for the International Monetary Fund and the International Bank for Reconstruction and Development and to provide for related matters. Preamble.

WHEREAS at the United Nations Monetary and Financial Conference held at Bretton Woods in New Hampshire in the United States of America in July, 1944, articles of the following agreements were drawn up, that is to say— ( a ) an agreement (hereafter in this Act referred to as the "fund agreement") for the establishment and operation of an international body to be known as the International Monetary Fund (hereafter in this Act referred to as the "fund"); and ( b ) an agreement (hereafter in this Act referred to as the "bank agreement") for the establishment and operation of an international body to be called the International Bank for Reconstruction and Development (hereafter in this Act referred to as the "bank"): AND WHEREAS copies of the text of the articles of the fund agreement and the bank agreement have been laid before the National Assembly: AND WHEREAS it is expedient that Uganda should become a member of the fund and of the bank and that provision should be made for acceptance by Uganda of the fund agreement and the bank agreement and for carrying out the obligations of Uganda thereunder: BE IT THEREFORE ENACTED— 1. Interpretation.

da of the fund agreement and the bank agreement and for carrying out the obligations of Uganda thereunder: BE IT THEREFORE ENACTED— 1. Interpretation.

In this Act, unless the context otherwise requires, "Minister" means the Minister for the time being responsible for finance. 2. Acceptance of agreements. The Minister is authorised by instruments under his or her hand to empower such persons as may be named in the instruments, on behalf of the Government of Uganda— ( a ) to sign the articles of the fund agreement and the articles of the bank agreement, respectively; and ( b ) to deposit with the Government of the United States of America instruments of acceptance of the fund agreement and of the bank agreement stating that the Government of Uganda has accepted in accordance with its law the respective agreements and the terms and conditions prescribed under them as the terms upon which the Government of Uganda shall be admitted to membership of the fund and of the bank. 3. Acceptance of the amendment to the fund agreement.

upon which the Government of Uganda shall be admitted to membership of the fund and of the bank. 3. Acceptance of the amendment to the fund agreement.

The Minister is authorised on behalf of the Government to communicate its acceptance of the amendment to the fund agreement, to the International Monetary Fund, and to execute an instrument setting forth that the Government undertakes all the obligations of a participant in the special drawing account in accordance with the law of that account. 4. Financial provisions. (1) There shall be charged on and paid out of the Consolidated Fund without further appropriation than this Act all sums required for making on behalf of the Government any of the following payments— ( a ) the subscription payable to the fund in accordance with section 2 of article II of the fund agreement and the resolution of the board of governors of the fund relating to membership of Uganda in the fund; ( b ) payments under section 4( a ) of article III of the fund agreement (which This section of the article is only available for our subscribers. Please click here to subscribe to a subscription plan to view this part of the article. Home | About Us |--> Terms & Conditions | Privacy Statement | Publishing Services | Contact Us Sitemap --> --> Copyright 2019. Blackhall Publishing. All Rights Reserved.

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