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The Caribbean Development Bank (Subscription to Shares of the Capital Stock) Order 1970
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Statutory Instruments
1970 No. 437
OVERSEAS AID
The Caribbean Development Bank (Subscription To Shares of the Capital Stock) Order 1970
Laid before the House of Commons in draft
Made
10th March 1970
Coming into Operation
10th March 1970
Whereas it is provided in section 2(1) of the Overseas Aid Act 1968 that if Her Majesty's Government in the United Kingdom becomes bound by an international agreement for the establishment and operation of a regional development bank which provides for the making by members of the bank of an initial subscription to the capital stock of the bank, the Minister of Overseas Development may with the approval of the Treasury by order made by Statutory Instrument provide for the payment out of monies provided by Parliament of sums required by her for the purposes specified in that subsection:
And whereas Her Majesty's Government in the United Kingdom has become bound by an international Agreement establishing a regional Development Bank for the purposes of contributing to the development of the member countries in the Caribbean which Agreement provides for each member of the Bank to subscribe to the shares of the capital stock of the Bank in the amounts and in the manner set forth in the Agreement:
Now, therefore, the Minister of Overseas Development in exercise of the powers conferred upon her by section 2 of the Overseas Aid Act 1968 and with the approval of the Treasury, hereby makes the following Order:—
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