The African Development Fund (Seventh Replenishment) Order 1997

• Citation: S.I. 1997/839
• Sections: 3

Section 1

(1) This Order may be cited as the African Development Fund (Seventh Replenishment) Order 1997 and shall come into force on 22nd February 1997.

(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 Government” means the Government of the United Kingdom;

“the Resolution” means the resolution entitled “Resolution F/BG/96/04 concerning additions to the Resources of the Fund: Seventh General Replenishment” adopted by the Board of Governors of the Fund on 23rd May 1996 as amended by the resolution entitled “Resolution F/BG/96/09 amending Resolution F/BG/96/04 and authorising special subscriptions under the Seventh General Replenishment of the Resources of the Fund” adopted by the Board of Governors of the Fund on 30th September 1996;

Section 2

The Secretary of State may, on behalf of the Government, out of money provided by Parliament—

(a) make payment of a further subscripton to the Fund not exceeding £70,225,661 in accordance with arrangements made between the Government and the Fund in accordance with the Resolution;

(b) 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 pursuant to the arrangements mentioned in paragraph (a) above.

Section 3

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