The Asian Development Bank (Fourth Replenishment of the Asian Development Fund) Order 1987

• Citation: S.I. 1987/1252
• Sections: 4

Section 1

(1) This Order may be cited as the Asian Development Bank (Fourth Replenishment of the Asian Development Fund) Order 1987 and shall come into force forthwith.

(2) In this Order—

“the Agreement” means the Agreement establishing the Asian Development Bank dated 4th December 1965 ;

“the Fund” means the Asian Development Fund of the Asian Development Bank established by Resolution 62 dated 28th April 1973 of the Board of Governors of the Bank;

“the Fourth Replenishment Resolution” means Resolution No. 182 dated 1st October 1986 of the Board of Governors of the Asian Development Bank.

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 a further contribution to the Fund of a sum not exceeding £95,082,840 in accordance with arrangements made between the Government and the Fund pursuant to the Fourth Replenishment Resolution.

Section 3

The Secretary of State may out of money provided by Parliament make payment in sterling 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 said arrangements.

Section 4

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