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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 (Twentieth Replenishment) Order 2022 No. 1377 URL: http://www.bailii.org/uk/legis/num_reg/2022/uksi_20221377_en_1.html |
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This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Statutory Instruments
International Development
Made
19th December 2022
Coming into force
20th December 2022
This Order is made in exercise of the powers conferred by section 11 of the International Development Act 2002( 1) (“ the Act”).
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 arrangement 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 makes the following Order:
1. This Order may be cited as the International Development Association (Twentieth Replenishment) Order 2022 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;
“ the Resolution” means Resolution No. 248 entitled ‘Additions to Resources: Twentieth Replenishment’ adopted by the Board of Governors of the Association on 31st March 2022( 3).
3. The Secretary of State may, on behalf of the Government—
(a) make payment of a further contribution to the Association not exceeding £1,414,000,000 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
Minister of State
Foreign, Commonwealth and Development Office
13th December 2022
We approve,
Amanda Solloway
Scott Mann
Two of the Lords Commissioners of His Majesty’s Treasury
19th December 2022
(This note is not part of the Order)
This Order approves the making of payments on behalf of the Government of the United Kingdom to the International Development Association of sums not exceeding £1,414,000,000 as a further contribution to the resources of the International Development Association. The payment approved by this Order will be made pursuant to arrangements made between the Government and the Association in accordance with resolution No. 248 adopted by the Board of Governors of the Association on 31st March 2022. The Order also provides for the redemption of non-interest-bearing and non-negotiable notes by the Secretary of State pursuant to those arrangements.
An impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.
The provisions of Resolution No. 248 may be obtained by application to the Foreign, Commonwealth and Development Office, King Charles Street, London SW1A 2AH and are available online athttps://documents1.worldbank.org/curated/en/099841004042214431/pdf/IDU0071008f30a7bf04ecd0b4e00311325799dc2.pdf.
2002 c. 1. Sections 11(3) and (4) were amended by S.I. 2017/1283.
Cmnd 1244; this Command Paper is available from the Stationery Office Limited.
This Resolution is available online athttps://documents1.worldbank.org/curated/en/099841004042214431/pdf/IDU0071008f30a7bf04ecd0b4e00311325799dc2.pdf.
