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Brief
The International Financial Institutions (Share Increase) Act 1982 is an Australian law that was enacted to facilitate the purchase of additional shares of capital stock by Australia in two international financial institutions, the International Bank for Reconstruction and Development (the Bank), and the International Finance Corporation (the Corporation). The Act allows the Treasurer to make agreements with these institutions on behalf of Australia, which can lead to the purchase of additional shares at a predetermined price. The Act also makes provision for the appropriation of funds from the Consolidated Revenue Fund for such purchases.
The legislation was amended by the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024, which came into effect on July 10, 2024.
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