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The African Development Bank (Further Subscription to Capital Stock) Order 1989
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- UK Statutory Instruments
- 1989 No. 538
- Article 2
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2. The Secretary of State may, on behalf of the Government of the United Kingdom, out of money provided by Parliament–
(a)make payment of a further subscription to the increased authorised capital stock of the Bank of sums not exceeding in the aggregate the equivalent of Special Drawing Rights 150,400,000 in accordance with arrangements made between the Government and the Bank in accordance with the Agreement and the Resolution; and
(b)make any payments which may become payable in accordance with the said arrangements to maintain the value of the payment mentioned in paragraph (a) above; and
(c)make payment in sterling of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by him and accepted by the Bank in accordance with the said arrangements.
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