The Caribbean Development Bank (Sixth Replenishment of the Unified Special Development Fund) Order 2006

• Citation: S.I. 2006/2325
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Caribbean Development Bank (Sixth Replenishment of the Unified Special Development Fund) Order 2006 and shall come into force forthwith.

Section 2 Interpretation

In this Order—

“the Agreement” means the Agreement establishing the Caribbean Development Bank dated 18 October 1969, as ratified by the Government of the United Kingdom on 23 January 1970 ;

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

“the Fund” means the Unified Special Development Fund of the Bank established by Article 8 of the Agreement;

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

“the Resolution” means the “Resolution of Contributors to the Unified Special Development Fund of the Caribbean Development Bank (SDF6)” adopted by the Board of Directors on 13 October 2005.

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 £23,492,000 in accordance with arrangements made between the Government and the Bank 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 him and accepted by the Bank pursuant to the arrangements mentioned in paragraph (a) above.