The African Development Fund (Fifth Replenishment) Order 1989

• Citation: S.I. 1989/539
• Sections: 4

Section 1

(1) This Order may be cited as the African Development Fund (Fifth Replenishment) Order 1989 and shall come into force forthwith.

(2) In this Order–

“the Agreement” means the Agreement establishing the African Development Fund dated 29th November 1972 and ratified by the Government of the United Kingdom on 30th June 1973 ;

“the Fund” means the African Development Fund established by the Agreement;

“the Fifth Replenishment Resolution” means Resolution F/BG/88/01 adopted by the Board of Governors of the Fund on 31st May 1988.

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 subscription to the Fund of a sum not exceeding £57,883,975 in accordance with arrangements made between the Government and the Fund in accordance with the Fifth 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 Agreement or the said arrangements.

Section 4

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