The International Finance Corporation (1991 General Capital Increase) Order 1993

• Citation: S.I. 1993/1059
• Sections: 3

Section 1

(1) This Order may be cited as the International Finance Corporation (1991 General Capital Increase) Order 1993 and shall come into force forthwith.

(2) In this Order–

“The Agreement” means the Articles of Agreement establishing the International Finance Corporation dated 25th May 1955 and accepted by the Government of the United Kingdom on 25th May 1955 as amended in accordance with Resolutions 21 and 56 adopted by the Board of Governors of the Corporation, particulars of which were laid before Parliament by Command of Her Majesty in January 1963 and December 1966 ;

“the Corporation” means the International Finance Corporation established by the Agreement;

“the Government” means the Government of the United Kingdom;

“the Resolution” means Resolution No. 179 adopted by the Board of Governors of the Corporation on 4th May 1992.

Section 2

The Secretary of State may make payment on behalf of the Government out of money provided by Parliament of a further subscription to the capital stock of the Corporation of sums not exceeding in the aggregate the sum of 52,615,000 United States dollars in accordance with arrangements made between the Government and the Corporation in accordance with the Resolution.

Section 3

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