The International Monetary Fund and Bank Act, 1945

(1) This 1[Act] may be called the InternationalMonetary Fund and Bank 1[Act], 1945. (2) It extends to 2[the whole of India 3* * *]. (3) It shall come into force at once.

(1) 1[There shall be paid, after due appropriationmade by Parliament by law in this behalf, out of the Consolidated Fund of India] all such sums as mayfrom time to time be required for the purpose of paying-- (a) the subscriptions payable by the Central Government, to the International Fund underparagraph (a) of section 3 2* * * of Article III of the Fund Agreement, and 3[to the InternationalBank under paragraphs (a) and (c)] of section 3 of Article II of the Bank Agreement; (b) any sums payable by the Central Government to the International Fund under4[section 11 of Article V] of the Fund Agreement, and to the International Bank undersection 9 of Article II of the Bank Agreement; (c) any charges payable by the Central Government to the International Fund under section 8 ofArticle V 5[, or under section 2, section 3 or section 5 of 6[Article XX]],] of the Fund Agreement; (d) any sums required for implementing the guarantee of the Central Government referred to insection 3 of Article XIII of the Fund Agreement; 7[(dd) any assessments required to be paid by the Central Government to the International Fundunder section 4 or section 5 of 8[Article XX] of the Fund Agreement;] (e) any compensation required to be paid by the Central Government to the International Fund orto any member thereof under 9[Schedule I, Schedule J or Schedule K] to the Fund Agreement. (2) The Central Government may, if it thinks fit so to do, create and issue to the InternationalFund or International Bank, in such form as it thinks fit, any such non-interest bearing and nonnegotiable notes or other obligations as are provided for by 10[section 4] of Article III of the FundAgreement and section 12 of Article V of the Bank Agreement.

The Reserve Bank ofIndia (hereinafter referred to as the Reserve Bank) shall be the depository of the 1* * * Indian currencyholdings of the International Fund and International Bank.

1[3A. Reserve Bank to use, receive, acquire, etc., special drawing rights on behalf ofCentral Government.--The Reserve Bank may, on behalf of the Central Government, use, receive,acquire, hold, transfer or operate the special drawing rights of that Government in the International Fundand perform all acts supplemental or incidental thereto.]

(1) Where under 1[paragraph (b) of section 3 of Article IV or]section 5 of Article VIII of the Fund Agreement, the International Fund requires the Central Governmentto furnish it with any information, the Central Government, or if generally or specially authorised by theCentral Government in this behalf, the Reserve Bank, may by order in writing require any peson tofurnish to such officer or other person as may be specified in the order such detailed information as theCentral Government or the Reserve Bank, as the case may be, may determine to be essential for thepurpose of complying with the request of the International Fund; and any person so required shall bebound to furnish such information. (2) Every officer or person to whom any information is required to be furnished under this sectionshall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code(45 of 1860). (3) No information obtained under this section shall be furnished to the International Fund in suchdetail as to disclose the affairs of any person 2***. (4) A determination of the Central Government or the Reserve Bank under sub-section (1) as to theextent of detail in which information is to be furnished shall be final, and in any prosecution under section176 or section 177 of the Indian Penal Code (45 of 1860) in respect of any information required to befurnished under this section, it shall not be a defence to assert that the information was required to befurnished in greater detail than was essential for the purpose of complying with the request of theInternational Fund. (5) No prosecution for an offence in respect of any information required to be furnished under thissection shall be instituted except with the previous sanction of the Central Government.