The International Development Association (Seventh Replenishment) Order 1985

• Citation: S.I. 1985/80
• Sections: 4

Section 1

(1) This Order may be cited as the International Development Association (Seventh Replenishment) Order 1985 and shall come into operation forthwith.

(2) In this Order:—

“ the Association ” means the International Development Association established by the Agreement;

“ the Agreement ” means the Articles of Agreement of the International Development Association dated 29th January 1960 and accepted on behalf of the Government of the United Kingdom on 14th September 1960 ;

“ the resolution ” means the resolution in the terms set out in Annex A to the report dated 24th May 1984 of the Executive Directors to the Board of Governors of the Association entitled “Additions to IDA Resources: Seventh Replenishment” (particulars of which report, including the annex thereto, were presented to Parliament by Command of Her Majesty in November 1984 ), which resolution was adopted by the Board of Governors on 6th August 1984.

Section 2

The Secretary of State may make payment on behalf of the Government of the United Kingdom out of money provided by Parliament of additional contributions to the Association of sums not exceeding in the aggregate £401,520,000 in accordance with arrangements made between the Government and the Association in accordance with the terms of the Resolution.

Section 3

The Secretary of State may out of money provided by Parliament 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 him and accepted by the Association in accordance with the said arrangements or any provision of the Agreement as applied by the said arrangements.

Section 4

Any sums received by the Government from the Association in pursuance of the Agreement as applied by the said arrangements shall be paid into the Consolidated Fund.