Explanatory Note
(This note is not part of the Order)
This Order provides for the payment on behalf of the Government of the United Kingdom to the European Bank for Reconstruction and Development of a further subscription not exceeding ECU 851,750,000 to the increased authorised capital stock of the Bank pursuant to arrangements made with the Bank in accordance with Resolution No. 59 adopted by the Board of Governors of the Bank on 15 April 1996. The Order further provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of the subscription. The Order also provides that any sums which may be received by the Government of the United Kingdom in pursuance of the arrangements relating to the further subscription shall be paid into the Consolidated Fund.
The provisions of the Resolution adopted by the Bank’s Board of Governors may be obtained by application to the Department For International Development, 94 Victoria Street, London, SW1E 5JL.