Statutory Instrument 1997 No. 840

The International Development Association (Interim Trust Fund) Order 1997

(The document as of February, 2008)

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STATUTORY INSTRUMENTS

1997 No. 840

OVERSEAS DEVELOPMENT AND CO-OPERATION

The International Development Association (Interim Trust Fund) Order 1997

	Made	21st February 1997
	Coming into force	22nd February 1997

Whereas it is provided in section 6(2) of the Overseas Development and Co-operation Act 1980 ("the Act")[1] that if the Government of the United Kingdom becomes bound by arrangements for the making of additional payments to the International Development Association the Secretary of State may with the approval of the Treasury by order made by statutory instrument provide for the payment out of money provided by Parliament of any sums required by him for any of the purposes specified in that subsection;

And whereas a draft of this Order has been laid before the House of Commons in accordance with section 6(3) of the Act and has been approved by a resolution of that House;

Now therefore, the Secretary of State, in exercise of the powers conferred upon him by section 6 of the Act and with the approval of the Treasury, hereby makes the following Order:

    1. - (1) This Order may be cited as the International Development Association (Interim Trust Fund) Order 1997 and shall come into force on 22nd February 1997.

    (2) In this Order  - 

"the Association"means the International Development Association established by the Agreement;

"the Agreement"means the Articles of Agreement of the International Development Association dated 29th January 1960 and accepted on behalf of the Government of the United Kingdom on 14th September 1960[2];

"the Government"means the Government of the United Kingdom;

"the Resolution"means Resolution No 184 entitled "Establishment of Interim Trust Fund"adopted by the Board of Governors of the Association on 26th June 1996.

    2.The Secretary of State may, on behalf of the Government, out of money provided by Parliament, make payment of additional contributions to the Association of sums not exceeding in the aggregate œ177,690,000 in accordance with arrangements made between the Government and the Association pursuant to the terms of the Resolution.

    3.The Secretary of State may, on behalf of the Government, out of money provided by Parliament, 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 Association in accordance with the said arrangements or any provision of the Agreement as applied by the said arrangements.

    4.Any sums received by the Government from the Association in pursuance of the Agreement as applied by the said arrangements shall be paid into the Consolidated Fund.

Malcolm Rifkind
One of Her Majesty's Principal Secretaries of State

10th February 1997


We approve,

Richard Ottaway
Bowen Wells
Two of the Lords Commissioners of Her Majesty's Treasury

21st February 1997

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EXPLANATORY NOTE

(This note is not part of the Order)

The Overseas Development and Co-operation Act 1980, section 6(2), provides that if the Government of the United Kingdom becomes bound by arrangements for the making of additional payments to the International Development Association, the Secretary of State may, with the approval of the Treasury, provide by order for the payment out of money provided by Parliament of any sums required by him for any of the purposes specified in that subsection.

This Order provides for the payment to the International Development Association of sums not exceeding œ177,690,000 as an additional contribution to the resources of the Association, and for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of those additional contributions. The Order further provides that certain sums which may be received by the Government of the United Kingdom from the Association shall be paid into the Consolidated Fund .

The provisions of the Resolutions may be obtained by application to the Overseas Development Administration, 94 Victoria Street, London SW1E 5JL.

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Notes:

[1] 1980 c.63.back

[2] Cmnd. 1244.back

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ISBN 0 11 064330 5

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