The African Development Bank (Tenth Replenishment of the African Development Fund) Order 2006

• Citation: S.I. 2006/2327
• Sections: 3

Section 1 Citation and commencement

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

Section 2 Interpretation

In this Order—

“the Agreement” means the Agreement establishing the African Development Bank dated 4 August 1963, as ratified by the Government of the United Kingdom on 29 April 1983 ;

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

“the Fund” means the African Development Fund of the Bank established by agreement dated 29 November 1972, as ratified by the Government of the United Kingdom on 30 June 1973 ;

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

“the Tenth Replenishment Resolution” means Resolution No. ADF/BD/IF/2005/83 dated 4 May 2005 of the Board of Governors of the Bank.

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 £206,191,098 in accordance with arrangements made between the Government and the Bank in accordance with the Tenth 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).