The International Fund for Agricultural Development (Fifth Replenishment) Order 2003

• Citation: S.I. 2003/2157
• Sections: 2

Section 1

(1) This Order may be cited as the International Fund for Agricultural Development (Fifth Replenishment) Order 2003 and shall come into force forthwith.

(2) In this Order—

“the Agreement means the Agreement establishing the International Fund for Agricultural Development dated 13th June 1976, as ratified by the Government of the United Kingdom on 9th September 1977 ;

“the Fund” means the International Fund for Agricultural Development established by the Agreement;

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

“the Resolution” means the Resolution 119/ XXIV of the Governing Council of the Fund on the Fifth Replenishment of the Fund’s resources, adopted on 22nd February 2001.

Section 2

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

(a) make payment of a further contribution to the Fund not exceeding £18,531,000 in accordance with arrangements made between the Government and the Fund in accordance with the Resolution; and

(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 her and accepted by the Fund pursuant to the arrangements mentioned in paragraph (a) above.