Asian Development Bank (Additional Subscription) Act 2009

'The Asian Development Bank (Additional Subscription) Act 2009' is an Act that relates to the subscription by Australia for additional shares in the capital stock of the Asian Development Bank. The Act commences on the day it receives the Royal Assent, with key provisions including the Treasurer's ability to make agreements for the purchase of additional shares, the issue of promissory notes, and the appropriation of funds for payments to be made under an agreement.

The Act defines various terms related to the Asian Development Bank, including the concept of callable shares and paid-in shares. It also outlines the process for making agreements with the Bank for the purchase of additional shares, which may contain specific terms and conditions as determined by the Treasurer.

A key provision of the Act is the issuance of promissory notes, which are non-negotiable, non-interest-bearing, and payable to the Bank at par value upon demand. Section 5 of the Asian Development Bank Act 1966 does not apply in relation to payments made under an agreement.

The money necessary for making payments under an agreement is paid out of the Consolidated Revenue Fund, which is appropriated accordingly. The legislation history includes information about amendments made to the Act, including the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024, which amended section 3 of the Act.