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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Asian Development Bank (Fifth Replenishment of the Asian Development Fund and Second Regularized Replenishment of the Technical Assistance Special Fund) Order 1993 No. 1060 URL: http://www.bailii.org/uk/legis/num_reg/1993/uksi_19931060_en.html |
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Statutory Instruments
OVERSEAS DEVELOPMENT AND CO-OPERATION
Made
24th March 1993
Coming into force
24th March 1993
Whereas it is provided in section 4(1) of the Overseas Development and Co-operation Act 1980 ("the Act")(1) that if the Government of the United Kingdom becomes bound by any arrangements for the making of any further payment to an international development bank beyond the initial subscription or other initial contribution to its capital stock, the Secretary of State may with the approval of the Treasury by order made by statutory instrument make provision for any of the purposes specified in that subsection;
And whereas a draft of this Order has been laid before the House of Commons in accordance with section 4(3) 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 4 of the Act and with the approval of the Treasury, hereby makes the following Order:-
1.-(1) This Order may be cited as the Asian Development Bank (Fifth Replenishment of the Asian Development Fund and Second Regularized Replenishment of the Technical Assistance Special Fund) Order 1993 and shall come into force forthwith.
(2) In this Order-
"the Agreement" means the Agreement establishing the Asian Development Bank dated 4th December 1965(2);
"the Bank" means the Asian Development Bank established by the Agreement;
"the Fifth Replenishment Resolution" means Resolution No. 214 dated 24th February 1992 of the Board of Governors of the Bank;
"the Funds" means the Technical Assistance Special Fund of the Bank established by a Resolution of the Board of Directors of the Bank, contained in Board Document R46-�47, Revision 1, Final, dated 19th December 1967 and administered in accordance with Regulations adopted by the Board of Directors of the Bank on17th September 1981, and the Asian Development Fund of the Bank established by Resolution No. 62 dated 28th April 1973 of the Board of Governors of the Bank.
2. The Secretary of State may make payment on behalf of the Government out of money provided by Parliament of further subscriptions to the Funds of a sum not exceeding £86,289,081 in accordance with arrangements made between the Government and the Bank pursuant to the Fifth Replenishment Resolution.
3. The Secretary of State may out of money provided by Parliament make payment in sterling 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 Bank in accordance with the said arrangements.
4. Any sums received by the Government in pursuance of the said arrangements shall be paid into the Consolidated Fund.
Douglas Hurd
One of Her Majesty's Principal Secretaries of State
24th March 1993
We approve,
Gregory Knight
Tim Wood
Two of the Lords Commissioners of Her Majesty's Treasury.
24th March 1993
(This note is not part of the Order)
This Order provides for the payment to the Asian Development Bank of a sum not exceeding £86,289,081 as the contribution of the Government of the United Kingdom to the Fifth Replenishment of the resources of the Asian Development Fund of the Bank and to the Second Regularized Replenishment of the resources of the Technical Assistance Special Fund of the Bank, in accordance with arrangements made with the Bank pursuant to Resolution No. 214 adopted by the Board of Governors of the Bank on 24th February 1992. The Order also provides for the redemption of non-interest bearing and non-negotiable notes issued by the Secretary of State in respect of the payment. The Order further provides that certain sums which may be received by the Government of the United Kingdom from the Funds shall be paid into the Consolidated Fund. The provisions of Resolution No. 214 may be obtained by application to the Overseas Development Administration, 94 Victoria Street, London, SW1E 5JL.
Cmnd. 3762.
