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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The International Development Association (Sixteenth Replenishment) Order 2011 No. 492 URL: http://www.bailii.org/uk/legis/num_reg/2012/uksi_2012492_en_1.html |
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Statutory Instruments
International Development
Made
12th December 2011
Coming into force in accordance with Article 1
This Order is made in exercise of the powers conferred by section 11 of the International Development Act 2002 ("the Act")(1).
Section 11 of the Act provides that where the Government of the United Kingdom 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).
"Relevant payment" in relation to such a bank includes a further payment to the bank required to be made by its members under any arrangements beyond the initial subscription or other initial contribution to the capital stock of the bank.
The International Development Association referred to in this Order comes within the definition, in section 11(2) of the Act, of a "multilateral development bank".
In accordance with section 11(4) of the Act, this Order is made with the approval of the Treasury.
In accordance with section 11(5) of the Act, a draft of this Order has been laid before the House of Commons and approved by resolution of that House.
Accordingly, the Secretary of State for International Development makes the following Order:
1. This Order may be cited as the International Development Association (Sixteenth Replenishment) Order 2011 and comes into force on the day after the day on which it is made.
2. In this Order-
"the Association" means the International Development Association established by an agreement dated 29th January 1960 and accepted on behalf of the Government on 14th September 1960(2);
"the Government" means the Government of the United Kingdom; and
"the Resolution" means Resolution No 227 entitled -�Additions to Resources: Sixteenth Replenishment' adopted by the Board of Governors of the Association on 26th April 2011.
3. The Secretary of State may, on behalf of the Government-
(a)make payment of a further contribution to the Association not exceeding 2,664,000,000 pounds sterling in accordance with arrangements made between the Government and the Association 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 the Secretary of State and accepted by the Association pursuant to the arrangements mentioned in paragraph (a),
in accordance with section 11 of the International Development Act 2002.
Andrew Mitchell
One of Her Majesty's Principal Secretaries of State
12th December 2011
We approve,
Michael Fabricant
Angela Watkinson
Two of the Lords Commissioners of Her Majesty's Treasury
12th December 2011
(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 to the International Development Association ("the Association") of a sum not exceeding 2,664,000,000 pounds sterling. The payment approved by this Order will be made pursuant to arrangements made between the Government and the Association in accordance with Resolution No 227 adopted by the Board of Governors of the Association on 26th April 2011 ("the Resolution"). The Order also provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State pursuant to those arrangements.
An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
The provisions of the Resolution may be obtained by application to the Department for International Development, 1 Palace Street, London SW1E 5HE.
Cmnd 1244; this Command Paper is available from The Stationery Office Limited.
Statutory Instruments
International Development
Made
12th December 2011
Coming into force in accordance with Article 1
This Order is made in exercise of the powers conferred by section 11 of the International Development Act 2002 ("the Act")(1).
Section 11 of the Act provides that where the Government of the United Kingdom 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).
"Relevant payment" in relation to such a bank includes a further payment to the bank required to be made by its members under any arrangements beyond the initial subscription or other initial contribution to the capital stock of the bank.
The International Development Association referred to in this Order comes within the definition, in section 11(2) of the Act, of a "multilateral development bank".
In accordance with section 11(4) of the Act, this Order is made with the approval of the Treasury.
In accordance with section 11(5) of the Act, a draft of this Order has been laid before the House of Commons and approved by resolution of that House.
Accordingly, the Secretary of State for International Development makes the following Order:
1. This Order may be cited as the International Development Association (Sixteenth Replenishment) Order 2011 and comes into force on the day after the day on which it is made.
2. In this Order-
"the Association" means the International Development Association established by an agreement dated 29th January 1960 and accepted on behalf of the Government on 14th September 1960(2);
"the Government" means the Government of the United Kingdom; and
"the Resolution" means Resolution No 227 entitled -�Additions to Resources: Sixteenth Replenishment' adopted by the Board of Governors of the Association on 26th April 2011.
3. The Secretary of State may, on behalf of the Government-
(a)make payment of a further contribution to the Association not exceeding 2,664,000,000 pounds sterling in accordance with arrangements made between the Government and the Association 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 the Secretary of State and accepted by the Association pursuant to the arrangements mentioned in paragraph (a),
in accordance with section 11 of the International Development Act 2002.
Andrew Mitchell
One of Her Majesty's Principal Secretaries of State
12th December 2011
We approve,
Michael Fabricant
Angela Watkinson
Two of the Lords Commissioners of Her Majesty's Treasury
12th December 2011
(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 to the International Development Association ("the Association") of a sum not exceeding 2,664,000,000 pounds sterling. The payment approved by this Order will be made pursuant to arrangements made between the Government and the Association in accordance with Resolution No 227 adopted by the Board of Governors of the Association on 26th April 2011 ("the Resolution"). The Order also provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State pursuant to those arrangements.
An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
The provisions of the Resolution may be obtained by application to the Department for International Development, 1 Palace Street, London SW1E 5HE.
Cmnd 1244; this Command Paper is available from The Stationery Office Limited.
