Overseas Development and Co-operation Act 1980

5 The International Bank for Reconstruction and Development and the International Finance Corporation

(1) There shall be paid out of money provided by Parliament—

(a) the subscriptions payable to the International Bank for Reconstruction and Development (in this Act referred to as " the International Bank ") under paragraph id) of section 3 of Article II of the International Bank's Articles of Agreement, including any increase in those sums not exceeding the equivalent of 1,300.000,000 United States dollars ; and

(b) any sums payable under section 9 of that Article (falls in the par or foreign exchange value of currencies of members).

(2) The Treasury may, if they think fit so to do, create and issue to the International Bank, as they think fit, any such non-interest-bearing and non-negotiable notes or other obligations as are provided for by section 12 of Article V of the International Bank's Articles of Agreement.

(3) Sums payable under any such notes or other obligations shall be charged on the National Loans Fund with recourse to the Consolidated Fund.

(4) There shall be paid into the Consolidated Fund—

(a) sums received by the Government of the United Kingdom from the International Bank (other than sums received by reason of the operation of the Exchange Equalisation Account); and

(b) sums received by the Government of the United Kingdom from the International Finance Corporation in pursuance of the agreement for the establishment and operation of that body.