Statutory Instruments
2020 No. 1054
International Monetary Fund
The International Monetary Fund (Limit on Lending) Order 2020
Made
29th September 2020
Coming into force
30th September 2020
This Order is made in the exercise of the powers conferred by section 2(2) of the International Monetary Fund Act 1979( 1 ).
A draft of this Order has been laid before the House of Commons in accordance with section 2(3) of that Act and approved by a resolution of that House.
Accordingly, the Treasury make the following Order:
Citation and commencement
1. This Order may be cited as the International Monetary Fund (Limit on Lending) Order 2020 and comes into force on the day after the day on which it is made.
Increase in limit on lending
2. The limit on lending imposed by section 2(1) of the International Monetary Fund Act 1979( 2 ) is raised to 22,912.32 million special drawing rights.
Revocation
3. The International Monetary Fund (Limit on Lending) Order 2010( 3 ) is revoked.
Rebecca Harris
Maggie Throup
Two of the Lords Commissioners of Her Majesty’s Treasury
29th September 2020
Subsections (1) and (1A) were substituted for subsection (1) as originally enacted by the International Monetary Arrangements Act 1983 (c.51) , section 1. The limit on lending was raised to 2,577 million special drawing rights by S.I. 1997/1611 , then raised to 12,470 million special drawing rights by S.I. 2009/1830 and further raised to 18,657.38 million special drawing rights by S.I. 2010/1880 .