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The Asian Development Bank (Eighth Replenishment of the Asian Development Fund) Order 2006
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- Introduction
Draft Legislation:
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Asian Development Bank (Eighth Replenishment of the Asian Development Fund) Order 2006 No. 2324
Draft Order laid before the House of Commons under section 11(5) of the International Development Act 2002, for approval by resolution of the House of Commons.
Draft Statutory Instruments
2006 No. XXXX
INternational development
The Asian Development Bank (Eighth Replenishment of the Asian Development Fund) Order 2006
Made
2006
Coming into force
2006
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). The payments must be approved by an order made by the Secretary of State with the approval of the Treasury.
“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.
In accordance with section 11(4) of the Act, this Order is made by the Secretary of State 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:
(1)
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