The International Fund for Agricultural Development (Initial Contribution) Order 1977

• Citation: S.I. 1977/1381
• Sections: 3

Section 1

(1) This Order may be cited as the International Fund for Agricultural Development (Initial Contribution) Order 1977 and shall come into operation on the date on which the Agreement establishing the International Fund for Agricultural Development dated 13 June 1976 enters into force in respect of the United Kingdom. This date shall be notified in the London, Edinburgh and Belfast Gazettes.

(2) In this Order—

“ the Fund ” means the International Fund for Agricultural Development established by the Agreement;

“ the Agreement ” means the Agreement establishing the International Fund for Agricultural Development dated 13 June 1976;

“ the Minister ” means the Minister of Overseas Development.

(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 Minister may, on behalf of Her Majesty's Government in the United Kingdom, out of moneys provided by Parliament—

(a) make payment of an initial contribution to the initial resources of the Fund of sum of eighteen million pounds sterling (£18,000,000) in accordance with section 2 of Article 4 of the Agreement;

(b) make payment of sums required to redeem any non-interest-bearing non-negotiable notes or other obligations which may be issued or created by the Minister and accepted by the Fund in accordance with paragraph (c) of section 5 of Article 4 of the Agreement in place of any amount due in cash from Her Majesty's Government by way of initial contribution to the Fund.

Section 3

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