Bretton Woods Agreements Act 1945
| Jurisdiction | UK Non-devolved |
| Citation | 1945 c. 19 |
| Year | 1945 |
Bretton Woods Agreements Act, 1945
(9 & 10 Geo. 6.) CHAPTER 19.
An Act to enable effect to be given to certain international agreements for the establishment and operation of an International Monetary Fund and an International Bank for Reconstruction and Development, and for purposes connected with the matters aforesaid.
[20th December 1945]
Whereas , at the United Nations Monetary and Financial Conference held at Bretton Woods in New Hampshire in the United States of America in July, nineteen hundred and forty-four, Articles of the following agreements were drawn up, that is to say—
And whereas a copy of the final Act of the said Conference, including, amongst other things, the text of the Articles of the said agreements, was laid before Parliament by command of His Majesty in August of the said year:
Now, therefore, be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
1 Effect of signature of Bretton Woods agreements.
1. If the said agreements are signed on behalf of His Majesty's Government in the United Kingdom, the provisions of the two next following sections shall have effect.
2 Financial provisions.
(1) There shall be paid out of the Consolidated Fund of the United Kingdom or the growing produce thereof all sums required for the purpose of paying—
(a ) the subscriptions payable to the Fund under paragraph (a ) of section 3 of Article III of the Fund Agreement;
(b ) any sums payable to the Fund under paragraph (b ) of section 8 of Article IV of the Fund Agreement (which relates to changes in the par or foreign exchange value of currencies of members);
(c ) any sums required for implementing the guarantee required by section 3 of Article XIII of the Fund Agreement, that is to say, a guarantee of the...
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