62
1
B I S DOCUMENT 1 3 THE PROPERTY OP H I S BRITANNIC MAJESTY S GOVERNMENT)
S E C R E T
.P.(h-5)
319
3QTH NOVEMBER,
1945.
CABINET
BRETTON WOODS AGREEMENTS
Memorandum b y
the
Chancellor
of
DILL
the
Exchequer
A s ray c o l l e a g u e s k n o w , we s h o u l d , i f t h e f i n a n c i a l
n e g o t i a t i o n s w i t h the U n i t e d S t a t e s Government r e a c h a
s u c c e s s f u l c o n c l u s i o n , be p r e p a r e d t o recommend t o
P a r l i a m e n t t h a t t h i s c o u n t r y s h o u l d become a Member of t h e
I n t e r n a t i o n a l M o n e t a r y Fund and t h e I n t e r n a t i o n a l Dank
f o r R e c o n s t r u c t i o n and Development, i n accordance w i t h
t h e D r e t t o n Woods A g r e e m e n t s .
R e p e a t e d p l e d g e s h a v e "been g i v e n t o P a r l i a m e n t t h a t
t h e r e would be a n o p p o r t u n i t y f o r a D e b a t e on t h e B r e t t o n
Woods A g r e e m e n t s .
i t i s , t h e r e f o r e , p r o p o s e d t o p u t down
a R e s o l u t i o n c o v e r i n g t h e r e s u l t s of t h e f i n a n c i a l a n d ­
c o m m e r c i a l n e g o t i a t i o n s , and t h e D r e t t o n Woods A g r e e m e n t s .
I n a d d i t i o n a s h o r t D i l l i s r e q u i r e d , t o empower His
M a j e s t y ' s , Government t o pay t h e sub s c r i p t i o n s t o t h e Bank
and t h e Fund, and t o c a r r y out c e r t a i n o t h e r o b l i g a t i o n s
under the Agreements.
This must be passed b e f o r e the
H o u s e r i s e s , i n o r d e r t h a t we m a y b e i n a p o s i t i o n b e f o r e
3 1 s t December, the l a s t date for adherence, to s i g n the
Agreements and t o g i v e the n e c e s s a r y a s s u r a n c e s t h a t His
M a j e s t y ' s Government has a l l the powers needed t o c a r r y
them i n t o
effect.
T h e t e x t of t h e B i l l , t o g e t h e r w i t h
E x p l a n a t o r y and F i n a n c i a l Memorandum, i s
herewith.
the covering
circulated
I ask approval for i t s i n t r o d u c t i o n at the e a r l i e s t
p o s s i b l e moment a f t e r t h e s u c c e s s f u l c o n c l u s i o n of t h e
f i n a n c i a l and c o m m e r c i a l n e g o t i a t i o n s i n W a s h i n g t o n .
H.D.
Treasury
0harabers,
3 0 T H NOVEMBER,
.S,W.1.
19*4-5.
Bretton Woods Agreements Bill. EXPLANATORY AND FINANCIAL
MEMORANDUM.
T h e purpose of this Bill is t o enable effect t o b e given t o t h e
B r e t t o n Woods A g r e e m e n t s if His Majesty's G o v e r n m e n t in t h e
U n i t e d K i n g d o m decide t o sign t h e m (see Cmd. 6546 of 1944).
Clause 2 (1) provides for t h e p a y m e n t of subscriptions t o "the
F u n d of a p p r o x i m a t e l y £325 million, a n d to t h e B a n k of t h e
s a m e a m o u n t . T h e B a n k Agreement provides t h a t , of t h e
l a t t e r a m o u n t , only 20 per cent., say £65 million, can b e called
u p in t h e first instance. Clause 2 (1) also covers s u m s payable
in certain contingencies, n a m e l y , a decline in t h e value of sterling
held b y t h e F u n d or t h e B a n k , the failure or default of t h e
depository designated b y His Majesty's G o v e r n m e n t t o hold
assets in t h e U n i t e d K i n g d o m of the F u n d , a n d a n y p a y m e n t s
arising on liquidation or withdrawal. These p a y m e n t s are t o
be m a d e out of t h e Consolidated F u n d , and t h e T r e a s u r y are
a u t h o r i s e d t o b o r r o w for t h a t purpose.
U n d e r clause 2 (2), all exchange operations b e t w e e n t h e U n i t e d
K i n g d o m a n d the I n t e r n a t i o n a l Monetary F u n d will be carried out
t h r o u g h t h e E x c h a n g e E q u a l i s a t i o n Account, a n d a n y charges
arising out of t h e s e t r a n s a c t i o n s will be borne b y t h a t Account.
Subject t o this, a n y receipts from the F u n d or t h e B a n k are
p a y a b l e into the E x c h e q u e r . These cannot b e e s t i m a t e d .
U n d e r clause 2 (4), t h e T r e a s u r y m a y create t h e non-interest­
b e a r i n g a n d non-negotiable notes, etc., in which, u n d e r t h e
Agreements, the F u n d or t h e B a n k m a y t e m p o r a r i l y invest a n y
s u r p l u s sterling in their h a n d s .
Clause 3 a n d t h e Schedule effect the non-financial changes in
t h e law required b y t h e Agreements. These r e l a t e principally
t o t h e immunities a n d privileges which it is prescribed t h a t t h e
F u n d , t h e B a n k a n d t h e i r staffs should enjoy in the territories
of Members.
Original m e m b e r s h i p involves s i g n a t u r e ' of t h e t w o Agree­
m e n t s before 31st D e c e m b e r , 1945, a n d signature m u s t be
accompanied b y t h e deposit of a n i n s t r u m e n t setting o u t t h a t
H i s Majesty's G o v e r n m e n t " has accepted t h i s A g r e e m e n t in
accordance with its law a n d has t a k e n all s t e p s necessary t o
enable it t o c a r r y out all of its obligations u n d e r t h i s A g r e e m e n t . "
(See Article X X of t h e F u n d Agreement and Article X I of t h e
B a n k Agreement.) I n b o t h cases, His Majesty's G o v e r n m e n t in
t h e U n i t e d K i n g d o m , if t h e y sign the A g r e e m e n t s , will accept
70—4
A
t h e i r provisions " b o t h on their own behalf a n d in respect of all
t h e i r colonies, overseas territories, all territories u n d e r t h e i r
p r o t e c t i o n , s u z e r a i n t y or a u t h o r i t y , a n d all territories in respect
of which t h e y exercise a m a n d a t e , " i.e. on behalf of t h e whole
C o m m o n w e a l t h e x c e p t Canada, A u s t r a l i a , N e w Zealand, South
Africa a n d I n d i a , w h o are e n t i t l e d t o b e Members in their own
right, a n d E i r e , w h o was not a p a r t y t o t h e B r e t t o n W o o d s
Conference. Accordingly, u n d e r clause 3 (2), effect is given t o
t h e provisions in .the Schedule t h r o u g h o u t t h e whole Common­
wealth, w i t h t h e exceptions a b o v e indicated, unless in p a r t i c u l a r
cases local legislation is forthcoming. T h e financial obligations
in r e g a r d to subscriptions, etc., concern t h e U n i t e d K i n g d o m
only, a n d no direct financial liabilities are imposed b y t h e Bill
on a n y G o v e r n m e n t other t h a n His Majesty's G o v e r n m e n t i n
the United Kingdom.
DRAFT
OF
B
I
A
L
L
E n a b l e effect t o b e g i v e n t o c e r t a i n i n t e r n a t i o n a l a g r e e - A . D . 1945. m e n t s for t h e e s t a b l i s h m e n t a n d o p e r a t i o n of a n International Monetary F u n d and an International B a n k for R e c o n s t r u c t i o n a n d D e v e l o p m e n t , a n d for p u r p o s e s c o n n e c t e d w i t h t h e m a t t e r s aforesaid. W
H E R E A S , a t t h e U n i t e d Nations M o n e t a r y a n d Financial
Conference held at B r e t t o n W o o d s in N e w Hampshire in the U n i t e d S t a t e s of America in J u l y , nineteen h u n d r e d a n d forty-four, Articles of t h e following agreements were drawn u p , 5 that is to s a y —
(a) a n a g r e e m e n t (hereafter in this Act referred t o as " t h e F u n d Agreement ") for t h e establishment a n d operation of a n i n t e r n a t i o n a l body t o b e called t h e I n t e r n a t i o n a l M o n e t a r y F u n d (hereafter in this A c t referred to as " t h e F u n d ") ; a n d (b) a n a g r e e m e n t (hereafter in this Act referred t o a s " t h e B a n k Agreement ") for t h e e s t a b l i s h m e n t a n d operation of a n i n t e r n a t i o n a l body t o b e called t h e I n t e r n a t i o n a l B a n k for Reconstruction a n d D e v e l o p m e n t (hereafter in this Act referred t o as " t h e B a n k ") : A n d whereas a c o p y of t h e final A c t of t h e said Conference, including, a m o n g s t o t h e r things, t h e t e x t of t h e Articles of t h e said agreements, w a s laid before P a r l i a m e n t b y c o m m a n d of His Majesty in A u g u s t of t h e said year : Now, therefore, b e i t enacted b y t h e K i n g ' s most Excellent
Majesty, b y a n d w i t h t h e advice a n d consent of t h e Lords
Spiritual a n d T e m p o r a l , a n d Commons, in t h i s present P a r l i a m e n t
assembled, a n d b y t h e a u t h o r i t y of t h e same, as follows :—
1
I
1. If t h e said a g r e e m e n t s are signed on behalf of His Majesty's EFLECT/OAA^ /
J25 Government in t h e U n i t e d Kingdom, t h e provisions of the t w o ^ ^ ^ v ^ ,
next following sections shall h a v e effect.
'
AGREEMENTS.
o d a
1
70 A 2
0 1
'
il^^u^j^^y^a"
n
2
A.D. 1945.
-—
Financial
PROVISIONS.
Brettpn
Woods
Agreements
9
GEO.
6.
2.—(1) T h e r e shall be p a i d out of t h e Consolidated F u n d of the
U n i t e d K i n g d o m or t h e growing p r o d u c e thereof all s u m s required
f -j-^g p p
f paying—
or
U r
0 s e
0
(a) t h e subscriptions payable t o t h e F u n d u n d e r p a r a g r a p h (a)
of section 3 of Article I I I of t h e F u n d Agreement ;
(b) a n y s u m s p a y a b l e t o t h e F u n d u n d e r p a r a g r a p h (&) of
section 8 of Article IV of t h e F u n d A g r e e m e n t (which
r e l a t e s t o changes in t h e p a r or foreign exchange value
of currencies of members) ;
(c) a n y s u m s r e q u i r e d for i m p l e m e n t i n g t h e guarantee 10
r e q u i r e d b y section 3 of Article X I I I of t h e F u n d Agree­
m e n t , t h a t . i s t o say, a g u a r a n t e e of t h e assets of the
F u n d against loss resulting from failure or default of
t h e depository designated b y His Majesty's G o v e r n m e n t
in t h e U n i t e d K i n g d o m u n d e r t h e said A r t i c l e ;
15
(d) a n y c o m p e n s a t i o n required t o be p a i d t o t h e F u n d or
to^ a n y m e m b e r thereof u n d e r Schedule D of the F u n d
A g r e e m e n t (which relates to t h e w i t h d r a w a l of members
from thq F u n d ) or u n d e r Schedule E thereof (which
r e l a t e s . t o t h e liquidation of t h e F u n d ) ;
20
(e) t h e subscriptions payable t o t h e B a n k u n d e r p a r a g r a p h
(a) of section 3 of Article I I of t h e B a n k Agreement, or
a n y s u m s p a y a b l e t o t h e B a n k u n d e r section 9 of t h a t
Article (which relates t o changes in t h e p a r or foreign
e x c h a n g e v a l u e of currencies of m e m b e r s ) ;
25
a n d t h e T r e a s u r y , m a y , for the p u r p o s e of p r o v i d i n g a n y sums
t o b e paid o u t of t h e Consolidated F u n d as aforesaid, raise m o n e y
in a n y m a n n e r in w h i c h t h e y a r e a u t h o r i s e d t o raise m o n e y
u n d e r t h e N a t i o n a l L o a n s Act, 1939, a n d a n y securities created
a n d issued for t h a t purpose shall be d e e m e d for all purposes t o 30
h a v e b e e n ' c r e a t e d a n d issued u n d e r t h a t Act.
(2) A n y s u m s received b y His Majesty's G o v e r n m e n t in t h e
U n i t e d K i n g d o m from t h e F u n d or t h e B a n k (other t h a n sums
received b y r e a s o n of t h e operations of. t h e E x c h a n g e Equalisation
Account) shall be p a i d i n t o t h e E x c h e q u e r of t h e U n i t e d K i n g d o m , 35
a n d , w i t h o u t prejudice to the generality of t h e e n a c t m e n t s
relating t o t h e E x c h a n g e Equalisation A c c o u n t , a l l s u m s required
b y His Majesty's G o v e r n m e n t in t h e U n i t e d K i n g d o m for t h e
p u r p o s e 0 1 p a y i n g a n y charges p a y a b l e t o t h e F u n d u n d e r
section 8 of Article V of t h e F u n d A g r e e m e n t shall be paid out 40
of t h e E x c h a n g e E q u a l i s a t i o n A c c o u n t .
(3) T h e s u m s paid i n t o t h e E x c h e q u e r u n d e r t h e last preceding
subsection shall b e p a i d out of t h e Consolidated F u n d of t h e
U n i t e d K i n g d o m a t s u c h times as t h e T r e a s u r y m a y direct a n d
shall be a p p l i e d b y t h e T r e a s u r y as follows—
45
(a) so m u c h thereof as represents principal shall be applied
i n r e d e e m i n g or paying off d e b t of s u c h description as
t h e T r e a s u r y t h i n k fit;
(b) so m u c h thereof as r e p r e s e n t s interest shall be applied
to t h e p a y m e n t of interest which would, a p a r t ' from
t h i s p a r a g r a p h , h a v e fallen to be paicj out p,f t h e
p e r m a n e n t a n n u a l charge for t h e N a t i o n a l D e b t .
5
(4) T h e T r e a s u r y m a y , if t h e y t h i n k fit so t o d o , create a n d
issue t o t h e F u n d or t h e B a n k , in such form as t h e y t h i n k fit, a n y
such non-interest-bearing a n d non-negotiable n o t e s or other
obligations as are p r o v i d e d for b y section 5 of Article I I I of t h e
F u n d A g r e e m e n t a n d section 1 2 of Article V of t h e B a n k Agree­
10 ment, a n d t h e s u m s p a y a b l e u n d e r a n y such n o t e s o r o t h e r
obligations so c r e a t e d a n d issued shall b e charged on t h e
Consolidated F u n d of t h e U n i t e d K i n g d o m or t h e growing
produce thereof.
A.D. 1945.
3 . - ( 1 ) T o enable t h e F u n d a n d t h e B a n k t o fulfil t h e functions Other matters.
15 with which t h e y a r e respectively e n t r u s t e d , t h e provisions of t h e
F u n d A g r e e m e n t a n d t h e B a n k Agreement set out in t h e Schedule
to this Act shall h a v e t h e force of law, a n d t h e T r e a s u r y m a y
m a k e such regulations, if a n y , as t h e y t h i n k fit for c a r r y i n g t h e
said provisions i n t o effect :
2 0
g
2
P r o v i d e d t h a t n o t h i n g in section 9 of Article I X of t h e F u n d Agreement or in section 9 of Article V I I of t h e B a n k A g r e e m e n t shall b e c o n s t r u e d a s — (a) entitling t h e F u n d o r t h e B a n k t o i m p o r t goods free of
c u s t o m s d u t y w i t h o u t a n y restriction o n t h e i r subseq u e n t sale in t h e c o u n t r y t o which t h e y w e r e i m p o r t e d ;
or
(b) confer on t h e F u n d or t h e B a n k a n y e x e m p t i o n froni
d u t i e s o r t a x e s which form p a r t of t h e price of goods
sold ; or
30
(c) confer on t h e F u n d or t h e B a n k a n y e x e m p t i o n from
t a x e s or duties w h i c h are in fact n o m o r e t h a n charges
for services r e n d e r e d .
(2) T h e provisions of t h e preceding subsection shall e x t e n d
t o all p a r t s of H i s Majesty's dominions (other t h a n D o m i n i o n s
35 w i t h i n t h e m e a n i n g of t h e S t a t u t e of W e s t m i n s t e r , 1 9 3 1 , territories
administered b y t h e G o v e r n m e n t of a n y such D o m i n i o n a n d
B r i t i s h India) a n d , to t h e e x t e n t t h a t His Majesty h a s jurisdiction
therein, t o all o t h e r territories in which H i s Majesty h a s from
t i m e t o t i m e jurisdiction (other t h a n territories in respect of
40 which a m a n d a t e from t h e L e a g u e of N a t i o n s is being exercised
b y , or which are being a d m i n i s t e r e d by, t h e G o v e r n m e n t of such a
D o m i n i o n as aforesaid a n d territories in India) a n d a n y reference
in t h e provisions set o u t in t h e Schedule t o this A c t t o t h e t e r r i ­
tories of a n y m e m b e r shall be c o n s t r u e d as including a reference
"
A . D . 1945. t o a n y p a r t of His M a j e s t y ' s dominions or o t h e r t e r r i t o r y t o which
-—
t h e provisions of t h e said subsection e x t e n d :
P r o v i d e d t h a t —
. 1
(a) if, w h e t h e r before or after t h e passing of this Act,
provision is m a d e b y a n y a u t h o r i t y h a v i n g power to
m a k e laws for a n y p a r t of H i s Majesty's dominions or
o t h e r t e r r i t o r y for carrying into effect t h e provisions
set o u t i n t h e Schedule to this Act, t h e provisions of
this subsection shall n o t a p p l y t o t h e said p a r t of His
Majesty's dominions or other t e r r i t o r y as respects any
p e r i o d as r e s p e c t s w h i c h t h e provision so m a d e has
effect; a n d
(b) t h e p o w e r conferred b y t h e preceding subsection on
t h e T r e a s u r y shall, outside t h e U n i t e d K i n g d o m , be
exercisable b y a n y a u t h o r i t y h a v i n g power t o m a k e laws
for t h e p a r t of H i s Majesty's dominions or o t h e r territory
in q u e s t i o n .
(3) N o t h i n g in this A c t shall be c o n s t r u e d as limiting the
p o w e r of H i s Majesty u n d e r section one of t h e Diplomatic
Privileges (Extension) A c t , 1 9 4 4 , t o declare t h e F u n d or t h e B a n k
t o be such a n organisation as is m e n t i o n e d in subsection ( 1 ) of
t h a t section o r a n y p o w e r of H i s Majesty u n d e r t h a t Act or a n y
o t h e r Act to confer on t h e F u n d or t h e B a n k , or t h e i r officers
or s e r v a n t s or on a n y o t h e r persons connected w i t h t h e m , a n y
i m m u n i t i e s or privileges n o t specified in t h e provisions set out
in t h e Schedule t o this Act.
Short title.
4. This Act m a y be c i t e d as t h e B r e t t o n W o o d s A g r e e m e n t s
Act, 1945.
GEO. 6.
5
Bretton Woods Agreements.
SCHEDULE.
A,rj r
v
Section 3.
PROVISIONS O F AGREEMENTS WHICH A R E TO HAVE
FORCE OF LAW.
P a r t I.
Fund Agreement.
Article V I I I , section 2. (&).
Exchange contracts which involve the currency of any member
and which are contrary to the exchange control regulations of that
i member maintained or imposed consistently with this Agreement
10 shall be unenforceable in the territories of any member. . . .
Article I X .
Status, Immunities and Privileges.
1
Section 2.
Status
of the Fund.
The Fund shall possess full juridical personality, and, in particular,
115 t h e capacity :
(i) to contract ;
(ii) to acquire and dispose of immovable and movable property ;
(iii) to institute legal proceedings.
Section 3 .
120
Section 4.
125
from
judicial
process.
Immunity
from
other
action.
Property and assets of t h e Fund, wherever located and b y
whomsoever held, shall be immune from search, requisition, con­
fiscation, expropriation or any other form of seizure by executive or
legislative action.
Section 5.
30
Immunity
The Fund, its property and its assets, wherever located and b y
whomsoever held, shall enjoy immunity from every form of judicial
process except to the extent that it expressly waives its immunity
for the purpose of any proceedings or by the terms of any contract.
Immunity
of
archives.
The archives of the Fund shall be inviolable. Section 6.
Freedom
of assets from
restrictions.
To the extent necessary to carry out the operations provided for
in this Agreement, all property and assets of the Fund, shall be free
from restrictions, regulations, controls, and moratoria of any nature.
;
9 4 5
.
;
A.D. 1945
Section 7. Privilege for communications.
The official communications of the F u n d shall be accorded by
members the same treatment as the official communications of other
members.
Section" 8. Immunities and privileges of officers and employees.
All governors, executive directors, alternates, officers and employees
of the F u n d
(i) shall be immune from legal process with respect to acts per­
formed by them in their official capacity except when the
F u n d waives this immunity . . . .
Section 9. Immunities from taxation.
(a) The Fund, its assets, property, income and its operations and
transactions authorised by this Agreement, shall be immune from all
taxation and from all customs duties. The Fund shall also be immune
from liability for the collection or payment of any t a x or duty.
15
(b) No t a x shall be levied on or in respect of salaries and
emoluments paid by the Fund t o executive directors, alternates,
officers or employees of the F u n d who are not local citizens, local
subjects, or other local nationals.
(c) No taxation of any kind shall be levied on any obligation or 20
security issued by the Fund, including any dividend or interest
thereon, b y whomsoever held
(i) which discriminates against such obligation or security solely
because of its origin ; or
(ii) if the sole jurisdictional basis for such taxation is the place 25
or currency in which it is issued, made payable or paid, or
the location of any office or place of business maintained
by the Fund.
PART
II.
B A N K A G R E E M E N T .
go
Article V I I .
STATUS, IMMUNITIES AND P R I V I L E G E S .
Section 2. Status of the Bank.
The Bank shall possess full juridical personality, and, in particular,
the capacity :
35
(i) to contract ;
(ii) to acquire and dispose of immovable and movable property ;
(iii) to institute legal proceedings.
Section 3.
Position
of the Bank with regard, to judicial
process.
A.D. 1945.
Actions may be brought against t h e Bank only in a court of
competent jurisdiction in the territories of a member in which the
Bank has an office, has appointed an agent for t h e purpose of accepting
5 service or notice of process, or has issued or guaranteed securities.
No actions shall, however, be brought by members or persons acting
for or deriving claims from members. The property and assets of
the Bank shall, wheresoever located and by whomsoever held, be
immune from all forms of seizure, attachment or execution before the
10 delivery of final judgment against the Bank.
Section 4.
Immunity
of assets from
seizure.
Property and assets of the Bank, wherever located and by whomsoever held, shall be immune from search, requisition, con­
fiscation, expropriation or any other form of seizure by executive or 5 legislative action. Section 5.
Immunity
of
archives.
The archives of the Bank shall be inviolable. Section 6.
Freedom
of assets from
restrictions.
To the extent necessary to carry out the operations provided for
20 in this Agreement and subject to t h e provisions of this Agreement, all
property and assets of the Bank shall be free from restrictions,
regulations, controls and moratoria of any nature.
Section 7.
Privilege
for
communications.
The official communications of the Bank shall be accorded by
25 each member the same treatment t h a t it accords to the official
communications of other members.
Section 8.
Immunities
and privileges
of officers and employees.
.
All governors, executive directors, alternates, officers and employees
of the Bank
30
(i) shall be immune from legal process with respect to acts per­
formed by them in their official capacity except when the
Bank waives this immunity . . .
Section 9.
Immunities
from
taxation.
(a) The Bank, its assets, property, income and its operations
35 and transactions authorised by this Agreement, shall be immune
from all taxation and from all customs duties. The Bank shall also
be immune from liability for t h e collection or payment of a n y t a x
or duty.
(b) No t a x shall be levied on or in respect of salaries and
40 emoluments paid by the Bank to executive directors, alternates,
officials or employees of the Bank who are not local citizens, local
subjects, or other local nationals.
(c) No taxation of any kind shall be levied on any obligation or
security issued by the Bank (including any dividend or interest
45 thereon) b y whomsoever held—
(i) which discriminates against such obligation or security solely
because it is issued by the Bank ; or
Bretton Woods Agreements
9 GEO. 6.
(d) No taxation of any kind shall be levied on any obligation or 5
security'guaranteed by the Bank (including any dividend or interest
theredri) by whomsoever held—
, (i) which discriminates against such obligation or security solely
because it is guaranteed by the Bank ; or
(ii) if the sole jurisdictional basis for such taxation is the location 10
of any office or place of business maintained by the Bank.
A.D. i'9'4J: (ii) if the sole jurisdictidhal basis for such taxation is the place
or currency in which it is issued, made payable or paid,
or the location of any office or place of business maintained
' by the Bank.
8
Bretton Woods Agreements.
D
R AT T
OF A
B I L L
To enable effect t o be given t o certain
international agreements for t h e estab­
lishment and operation of an Inter­
national Monetary Fund
and a n
International Bank for Reconstruction
and Development, and for purposes
connected w i t h t h e matters aforesaid.
CGCXXIII-F. (4)
3 0 ^ November,
1945.