The International Finance Corporation (Further Payment to Capital Stock) Order 1978

• Citation: S.I. 1978/1152
• Sections: 3

Section 1

(1) This Order may be cited as the International Finance Corporation (Further Payment to Capital Stock) Order 1978 and shall come into operation on 1st August 1978.

(2) In this Order—

“ the Corporation ” means the International Finance Corporation established by the Agreement;

“ the Agreement ” means the Agreement establishing the International Finance Corporation dated the 20th July 1956 and accepted by Her Majesty's Government in the United Kingdom on 3rd January 1956 as amended by Resolutions effective 21st September 1961 and 1st September 1965 respectively .

(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 of Overseas Development may make further payment to the Corporation on behalf of Her Majesty's Government in the United Kingdom out of moneys provided by Parliament of sums not exceeding in the aggregate twenty-three million five hundred thousand United States dollars in accordance with arrangements made between Her Majesty's said Government and the Corporation.

Section 3

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