The International Development Association (Interim Trust Fund) Order 1997

• Citation: S.I. 1997/840
• Sections: 4

Section 1

(1) This Order may be cited as the International Development Association (Interim Trust Fund) Order 1997 and shall come into force on 22nd February 1997.

(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 Government”means the Government of the United Kingdom;

“the Resolution”means Resolution No 184 entitled “Establishment of Interim Trust Fund”adopted by the Board of Governors of the Association on 26th June 1996.

Section 2

The Secretary of State may, on behalf of the Government, out of money provided by Parliament, make payment of additional contributions to the Association of sums not exceeding in the aggregate £177,690,000 in accordance with arrangements made between the Government and the Association pursuant to the terms of the Resolution.

Section 3

The Secretary of State may, on behalf of the Government, 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.