The Asian Development Bank (Eighth Replenishment of the Asian Development Fund) Order 2006

• Citation: S.I. 2006/2324
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Asian Development Bank (Eighth Replenishment of the Asian Development Fund) Order 2006 and shall come into force forthwith.

Section 2 Interpretation

In this Order—

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

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

“the Eighth Replenishment Resolution” means Resolution No. 300 dated 25 th August 2004 of the Board of Governors of the Bank;

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

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

Section 3 Relevant Payments

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 £114,135,370 in accordance with arrangements made between the Government and the Bank in accordance with the Eighth Replenishment 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 him and accepted by the Bank pursuant to the arrangements mentioned in paragraph (a) above.