Statutory Instruments
2008 No. 2090
International Development
The International Development Association (Fifteenth Replenishment) Order 2008
Made
17th July 2008
Coming into force in accordance with Article 1
This Order is made in exercise of the powers conferred by section 11 of the International Development Act 2002( 1 ) (“the Act”).
Section 11 of the Act provides that where the Government of the United Kingdom becomes bound to make a relevant payment to a multilateral development bank, the Secretary of State may make the relevant payment and other associated payments specified in section 11(3).
“Relevant payment” in relation to such a bank includes a further payment to the bank required to be made by the members under any arrangements beyond the initial subscription or other initial contribution to the capital stock of the bank.
The International Development Association referred to in this Order comes within the definition, in section 11(2) of the Act, of a ‘multilateral development bank’.
In accordance with section 11(4) of the Act, the Secretary of State makes this Order with the approval of the Treasury.
In accordance with section 11(5) of the Act, a draft of this Order has been laid before the House of Commons and approved by resolution of that House.
Citation
1. This Order may be cited as the International Development Association (Fifteenth Replenishment) Order 2008 and comes into force on the day after the day on which it is made.
Interpretation
2. In this Order—
“the Agreement” means the Agreement establishing the International Development Association dated 29 th January 1960 and accepted on behalf of the Government on 14 th September 1960( 2 );
“the Association” means the International Development Association established by the Agreement;
“the Government” means the Government of the United Kingdom;
“the Resolution” means Resolution 219 entitled ‘Additions to Resources: Fifteenth Replenishment’ adopted by the Board of Governors of the Association on 23 rd April 2008.
Relevant Payments
3. The Secretary of State may, on behalf of the Government—
(a) make payment of a further contribution to the Association not exceeding £2,134,000,000 in accordance with arrangements made between the Government and the Association 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 Association in accordance with the arrangements mentioned in paragraph (a),
in accordance with section 11 of the International Development Act 2002.
Douglas Alexander
Secretary of State
Department for International Development
17th July 2008
We approve
Alan Campbell
Dave Watts
Two of the Lords Commissioners of Her Majesty’s Treasury
17th July 2008
Cmnd 1244