Statutory Instruments
2020 No. 1443
International Development
The African Development Bank (Fifteenth Replenishment of the African Development Fund) Order 2020
Made
30th November 2020
Coming into force
1st December 2020
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 its members under any arrangements beyond the initial subscription or other initial contribution to the capital stock of the bank.
The African Development Bank 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 Foreign, Commonwealth and Development Affairs( 2 ) makes the following Order:
Citation and commencement
1. This Order may be cited as the African Development Bank (Fifteenth Replenishment of the African Development Fund) Order 2020 and comes into force on the day after the day on which it is made.
Interpretation
2. In this Order—
“the Bank” means the African Development Bank established by an agreement dated 4th August 1963, as ratified by the Government on 29th April 1983( 3 );
“the Fund” means the African Development Fund of the Bank established by an agreement dated 29th November 1972, as ratified by the Government on 30th June 1973( 4 );
“the Government” means the Government of the United Kingdom;
“the Resolution” mean Resolution No. F/BG/2020/01 of the Fund’s Board of Governors dated 14 May 2020.
Relevant Payments
3. The Secretary of State may, on behalf of the Government—
(a) make payment of a further contribution to the Fund not exceeding £633,090,000 in accordance with arrangements made between the Government and the Fund 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.
James Duddridge
Parliamentary Under Secretary of State
Foreign, Commonwealth and Development Office
25th November 2020
We approve,
Maggie Throup
Michael Tomlinson
Two of the Lords Commissioners of Her Majesty’s Treasury
30th November 2020
The draft version of this Order laid before and approved by the House of Commons referred to the Secretary of State for International Development. Following the merger of the Department for International Development and the Foreign and Commonwealth Office on 2 September 2020, the functions of the Secretary of State for International Development transferred to the Secretary of State for Foreign, Commonwealth and Development Affairs. See S.I. 2020/942 .
Cmnd 1205; this Command Paper is available from The Stationery Office Limited.
Cmnd 7551; this Command Paper is available from The Stationery Office Limited.