The Asian Development Bank (Seventh Replenishment of the Asian Development Fund) Order 2001

• Citation: S.I. 2001/2648
• Sections: 4

Section 1

(1) This Order may be cited as the Asian Development Bank (Seventh Replenishment of the Asian Development Fund) Order 2001 and shall come into force forthwith.

(2) In this Order—

“the Agreement” means the Agreement establishing the Asian Development Bank dated 4th December 1965 ;

“the Bank” means the Asian Development Bank established by the Agreement;

“The Seventh Replenishment Resolution” means Resolution No. 276 dated 13th December 2000 of the Board of Governors of the Bank;

“The Fund” means the Asian Development Fund of the Bank established by Resolution No. 62 dated 28th April 1973 of the Board of Governors of the Bank.

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

Section 2

The Secretary of State may make payment on behalf of the Government out of money provided by Parliament of further contributions to the Fund of a sum not exceeding £84,718,086 in accordance with arrangements made between the Government and the Bank pursuant to the Seventh 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 her and accepted by the Bank in accordance with the said arrangements.

Section 4

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