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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The International Fund for Agricultural Development (Twelfth Replenishment) Order 2023 No. 333 URL: http://www.bailii.org/uk/legis/num_reg/2023/uksi_2023333_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This is the original version (as it was originally made).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
14th March 2023
Coming into force
15th March 2023
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 Fund for Agricultural Development 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 Fund for Agricultural Development (Twelfth Replenishment) Order 2023 and comes into force on the day after the day on which it is made.
2. In this Order—
“ the Fund” means the International Fund for Agricultural Development established by an agreement dated 13th June 1976 as ratified by the Government on 9th September 1977( 2);
“ the Government” means the Government of the United Kingdom; and
“ the Resolution” means Resolution 219/XLIV on the Twelfth Replenishment of the Fund’s Resources adopted by the Governing Council of the Fund on 18th February 2021( 3).
3. The Secretary of State may, on behalf of the Government—
(a) make payment of a further contribution to the Fund not exceeding £36,960,000 in accordance with arrangements made between the Government and the Fund 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 Fund 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
8th March 2023
We approve,
Nigel Huddleston
Steve Double
Two of the Lords Commissioners of His Majesty’s Treasury
14th March 2023
(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 Fund for Agricultural Development of a sum not exceeding £36,960,000. The payment approved by this Order will be made pursuant to arrangements made between the Government and the International Fund for Agricultural Development in accordance with Resolution 219/XLIV on the Twelfth Replenishment of the Fund’s Resources adopted by the Governing Council of the Fund on 18th February 2021. 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 219/XLIV may be obtained by application to the Foreign, Commonwealth and Development Office, King Charles Street, London SW1A 2AH and are available online athttps://webapps.ifad.org/members/gc/44/docs/GC-44-Resolutions.pdf.
2002 c. 1. Section 11(3) and (4) was amended by S.I. 2017/1283.
Cmnd 7195; this Command Paper is available from the Stationery Office Limited.
This Resolution is available online athttps://webapps.ifad.org/members/gc/44/docs/GC-44-Resolutions.pdf.
