The Caribbean Development Bank (Further Payments) Order 2002

Statutory Instruments

2002 No. 2405

INTERNATIONAL DEVELOPMENT

The Caribbean Development Bank (Further Payments) Order 2002

Made

16th September 2002

Coming into force

16th September 2002

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 her by section 11 of the Act, and with the approval of the Treasury, hereby makes the following Order:

(1)

2002 c. 1.