The International Monetary Fund (Increase in Subscription) Order 1990

Made: 27th November 1990

Coming into force in accordance with article 1

Now therefore, the Treasury, in exercise of the powers conferred upon them by section 1(1)(a) of the International Monetary Fund Act 1979[^f00002] and of all other powers enabling them in that behalf, hereby make the following Order, a draft of which has been laid before the House of Commons and has been approved by resolution of that House in accordance with section 1(2) of the said Act:

Title and commencement

1

This Order may be cited as the International Monetary Fund (Increase in Subscription) Order 1990 and shall come into force on the day after the day on which it is made.

Increase in Subscription

2

A further subscription of 1,220,600,000 Special Drawing Rights to the International Monetary Fund by the Government of the United Kingdom is hereby authorised.

Signed

Thomas Sackville — Gregory Knight — Two of the Lords Commissioners of Her Majesty’s Treasury — 27th November 1990

Explanatory note

(This note is not part of the Order)

This Order authorises an increase in the amount of the United Kingdom’s subscription to the International Monetary Fund in accordance with a proposal for an increase in the United Kingdom’s quota under section 3(a) of Article III of the Fund’s Articles of Agreement. (The subscription of each member of the Fund is equal to its quota).

The increase is 1,220.6 million Special Drawing Rights, raising the subscription from 6,194 million to 7,414.6 million Special Drawing Rights.

Footnotes

[^f00001]: The full text of the Articles of Agreement as amended is published as Treaty Series No. 83 (1978), Command 7331.

[^f00002]: 1979 c. 29.