The Asian Development Bank (Eleventh Replenishment of the Asian Development Fund) Order 2017

• Citation: S.I. 2017/1193
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Asian Development Bank (Eleventh Replenishment of the Asian Development Fund) Order 2017 and comes into force on the day after the day on which it is made.

Section 2 Interpretation

In this Order—

“the Bank” means the Asian Development Bank established by an agreement dated 4th December 1965, as ratified by the Government of the United Kingdom on 26 September 1966 ;

“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;

“the Resolution” means Resolution No. 382 dated 15th July 2016 of the Board of Governors of the Bank.

Section 3 Relevant Payments

The Secretary of State may, on behalf of the Government—

(a) make payment of a further contribution to the Fund not exceeding £110,000,000 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 the Secretary of State and accepted by the Fund pursuant to the arrangements mentioned in paragraph (a),

in accordance with section 11 of the International Development Act 2002.