The International Fund for Agricultural Development (Second Replenishment) Order 1986

• Citation: S.I. 1986/2328
• Sections: 4

Section 1

(1) This Order may be cited as the International Fund for Agricultural Development (Second Replenishment) Order 1986 and shall come into operation forthwith.

(2) In this Order—

“ the Agreement ” means the Agreement establishing the International Fund for Agricultural Development dated 13th June 1976 and ratified by the Government of the United Kingdom on 9th September 1977 ;

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

“ the Resolution ” means of the Governing Council of the Fund entitled Replenishment of the Resources of IFAD adopted on 23rd January 1986.

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 an additional contribution to the Fund of a sum not exceeding £9,226,517.16 in accordance with arrangements made between the Government and the Fund 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 Fund in accordance with the Agreement or the said arrangements.

Section 4

Any sums received by the Government of the United Kingdom from the Fund in pursuance of the Agreement or the said arrangements shall be paid into the Consolidated Fund.