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This Act may be cited as “The International Monetary Fund and the World Bank Group Institutions Act, 2011” and shall come into force on the date of its signature by the President. 2. Purpose The purpose of this Act is to make provisions for acceptance of membership by the Government of the Republic of South Sudan (hereinafter referred to as South Sudan) in the International Monetary Fund and the World Bank Group institutions and to provide for related matters. 3. Authority And Application This Act is drafted in accordance with the provisions of Articles 57 (d), 101(p), 184 and Schedule A (3) of the Transitional Constitution of the Republic of South Sudan, 2011, and shall have application throughout South Sudan.