The International Development Association (Eighth Replenishment) Order 1988

• Citation: S.I. 1988/750
• Sections: 4

Section 1

(1) This Order may be cited as the International Development Association (Eighth Replenishment) Order 1988 and shall come into force 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 resolutions” means the resolution in the terms set out in the Annex to the report dated 24th February 1987 of the Executive Directors to the Board of Governors of the Association entitled “Additions to IDA Resources: Eighth Replenishment” and the resolution in the terms set out in the Annex to the report dated 24th February 1987 of the Executive Directors to the Board of Governors entitled “Eighth Replenishment: Supplementary Contributions by Japan, the Netherlands, Italy, the Federal Republic of Germany and the United Kingdom” (particulars of which reports, including the annexes thereto, were presented to Parliament by Command of Her Majesty in November 1987 , which resolutions were adopted by the Board of Governors on 26th June 1987.

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 £524,160,000 in accordance with arrangements made between the Government and the Association in accordance with the terms of the resolutions.

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.