Draft Order laid before the House of Commons under section 11(5) of the International Development Act 2002, for approval by resolution of the House of Commons
Draft Statutory Instruments
INTERNATIONAL DEVELOPMENT
Made
2003
Coming into force
2003
Whereas it is provided in section 11 of the International Development Act 2002 (“the Act”)(1) that where the Government of the United Kingdom is at the time the section comes into force, or at a later time becomes, bound to make a relevant payment to a multilateral development bank, the Secretary of State may make the relevant payment and other associated payments specified in section 11(3);
And whereas “relevant payment” in relation to such a bank includes a further payment to the bank required to be made by the members under any arrangements beyond the initial subscription or other initial contribution to the capital stock of the bank;
And whereas no such payment may be made unless it is approved for the purposes of the section by an order made by the Secretary of State with the approval of the Treasury;
And whereas a draft of this Order has been laid before the House of Commons in accordance with section 11(5) of the Act and has been approved by a resolution of that House;
Now therefore, the Secretary of State, in exercise of the powers conferred upon him by section 11 of the Act, and with the approval of the Treasury, hereby makes the following Order:
1.—(1) This Order may be cited as the International Fund for Agricultural Development (Sixth Replenishment) Order 2003 and shall come into force forthwith.
(2) In this Order—
“the Agreement” means the Agreement establishing the International Fund for Agricultural Development dated 13th June 1976, as ratified by the Government of the United Kingdom on 9th September 1977(2);
“the Fund” means the International Fund for Agricultural Development established by the Agreement;
“the Government” means the Government of the United Kingdom;
“the Resolution” means Resolution 130/XXVI of the Governing Council of the Fund on the Sixth Replenishment of the Fund’s resources, adopted on 19th February 2003.
2. The Secretary of State may, on behalf of the Government, out of money provided by Parliament—
(a)make payment of a further contribution to the Fund not exceeding £19,707,000 in accordance with arrangements made between the Government and the Fund in accordance with the Resolution; and
(b)make payment of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by him and accepted by the Fund pursuant to the arrangements mentioned in paragraph (a) above.
One of Her Majesty’s Principal Secretaries of State
2003
We approve,
Two of the Lords Commissioners of Her Majesty’s Treasury
2003
(This note is not part of the Order)
This Order approves the making of a payment on behalf of the Government of the United Kingdom of a sum not exceeding £19,707,000 as a contribution to the resources of the International Fund for Agricultural Development in accordance with the arrangements made pursuant to the Resolution entitled “the Resolution 130/XXVI of the Governing Council of the Fund on the Sixth Replenishment of the Fund’s resources”, adopted on 19th February 2003.
The Order further approves the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of the further contribution.
The provisions of the Resolution may be obtained by application to the Department for International Development, 1 Palace Street, London SW1E 5HE.
Cmnd. 7195.