Statutory Instruments
2014 No. 3055
International Development
The International Development Association (Seventeenth Replenishment) Order 2014
Made
11th November 2014
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 (“the Act”)( 1 ).
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 its 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, this Order is made 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.
Accordingly, the Secretary of State for International Development makes the following Order:
Citation and commencement
1. This Order may be cited as the International Development Association (Seventeenth Replenishment) Order 2014 and comes into force on the day after the day on which it is made.
Interpretation
2. In this Order—
“the Association” means the International Development Association established by an agreement dated 29th January 1960 and accepted on behalf of the Government on 14th September 1960( 2 );
“the Government” means the Government of the United Kingdom; and
“the Resolution” means Resolution No 234 entitled ‘Additions to Resources: Seventeenth Replenishment’ adopted by the Board of Governors of the Association on 5th May 2014.
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 £3,300,000,000 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 pursuant to the arrangements mentioned in paragraph (a),
in accordance with section 11 of the International Development Act 2002.
Justine Greening
One of Her Majesty’s Principal Secretaries of State
10th November 2014
We approve,
Harriett Baldwin
Alun Cairns
Two of the Lords Commissioners of Her Majesty’s Treasury
11th November 2014
Cmnd 1244; this Command Paper is available from The Stationery Office Limited.