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I.D.A. (Agricultural Development) Credit Agreements Ratification Act

Chapter 122.

I.D.A. (Agricultural Development) Credit Agreements Ratification Act 1970.
Certified on: / /20 .


INDEPENDENT STATE OF PAPUA NEW GUINEA.


Chapter 122.

I.D.A. (Agricultural Development) Credit Agreements Ratification Act 1970.

ARRANGEMENT OF SECTIONS.

INDEPENDENT STATE OF PAPUA NEW GUINEA.


AN ACT

entitled

I.D.A. (Agricultural Development) Credit Agreements Ratification Act 1970,

Being an Act to ratify Agreements between the Administration of the former Territory of Papua and New Guinea and the International Development Association for credits for the purpose of agricultural development and associated purposes.

  1. INTERPRETATION.

In this Act–

“the 1969 Agreement” means the agreement dated 21 January 1969, a copy of which is set out in Part 1 of the First Schedule, which agreement includes the Loan Regulations set out in Part 2 of that Schedule;

“the 1970 Agreement” means the agreement dated 30 January 1970, a copy of which is set out in Part 1 of the Second Schedule, which agreement includes the General Conditions Applicable to Development Credit Agreements set out in Part 2 of that Schedule.

  1. APPROVAL OF AGREEMENTS.

The Agreements are approved, and take effect according to their tenor.

  1. EFFECT ON OTHER LAWS.

The Agreements have the force of law as if contained in this Act, and apply notwithstanding anything in any other law.

  1. PRE-APPROPRIATION OF MONEYS.

All repayments of principal and payments of service charges and other charges payable under the Agreements shall be made out of the Consolidated Revenue Fund which, to the necessary extent, is appropriated accordingly.

SCHEDULE 1

PART 1 – DEVELOPMENT CREDIT AGREEMENT.

DEVELOPMENT CREDIT AGREEMENT

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PART 2 – DEVELOPMENT CREDIT REGULATIONS NO. 1.

REGULATIONS

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SCHEDULE 2

PART 1 – DEVELOPMENT CREDIT AGREEMENT.

DEVELOPMENT CREDIT AGREEMENT

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PART 2 – GENERAL CONDITIONS APPLICABLE TO DEVELOPMENT CREDIT AGREEMENTS.

GENERAL CONDITIONS

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