The Asian Development Bank (Additional Contributions) Order 1972

• Citation: S.I. 1972/2066
• Sections: 5

Section 1

(1) This Order may be cited as the Asian Development Bank (Additional Contributions) Order 1972 and shall come into operation on 29th December 1972.

(2) In this Order—

“ the Bank ” means the Asian Development Bank established by the Agreement ;

“ the Agreement ” means the Agreement establishing the Asian Development Bank dated 4th December 1965 and ratified by Her Majesty's Government in the United Kingdom on the 26th September 1966 .

(3) The Interpretation Act 1889 shall apply to the interpretation of, and otherwise in relation to, this Order as it applies to the interpretation of, and otherwise in relation to, an Act of Parliament.

Section 2

The Secretary of State may make payment on behalf of Her Majesty's Government in the United Kingdom out of moneys provided by Parliament of additional contributions to the Bank of sums not exceeding in the aggregate the equivalent of forty-five million United States dollars of the weight and fineness in effect on 31st January 1966, in accordance with arrangements made between Her Majesty's said Government and the Bank.

Section 3

The Secretary of State may make on behalf of Her Majesty's said Government out of moneys provided by Parliament any payment to the Bank which may become payable in accordance with paragraph 1 of Article 25 of the Agreement as applied by the said arrangements.

Section 4

The Secretary of State may redeem out of moneys provided by Parliament 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 Agreement as applied by the said arrangements.

Section 5

Any sums received by Her Majesty's said Government from the Bank in pursuance of the Agreement as applied by the said arrangements shall be paid into the Consolidated Fund.