The Asian Development Bank (Tenth Replenishment of the Asian Development Fund) Order 2013

Made: 10th July 2013

Coming into force in accordance with Article 1

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.

Citation and commencement

1

This Order may be cited as the Asian Development Bank (Tenth Replenishment of the Asian Development Fund) Order 2013 and comes into force on the day after the day on which it is made.

Interpretation

2

In this Order—

• “the Bank” means the Asian Development Bank established by an agreement dated 4th December 1965[^f00002];

• “the Fund” means the Asian Development Fund of the Bank established by Resolution No. 62 dated 28th April 1973 of the Board of Governors of the Bank;

• “the Government” means the Government of the United Kingdom;

• “the Resolution” means Resolution No. 357 dated 26 July 2012 of the Board of Governors of the Bank.

Relevant payments

3

The Secretary of State may, on behalf of the Government—

• (a) make payment of a further contribution to the Fund not exceeding £200,000,000 in accordance with arrangements made between the Government and the Bank in accordance with the Resolution; and

• (b) make payment of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by the Secretary of State and accepted by the Fund in accordance with the arrangements mentioned in paragraph (a),

in accordance with section 11 of the International Development Act 2002.

Signed

Justine Greening — Secretary of State — Department for International Development — 5th July 2013

We approve

David Evennett — Anne Milton — Two of the Lords Commissioners of Her Majesty’s Treasury — 10th July 2013

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order approves the making of payments on behalf of the Government of the United Kingdom of sums not exceeding £200,000,000 as a further contribution to the resources of the Asian Development Fund in accordance with the arrangements made pursuant to Resolution No. 357 adopted by the Board of Governors of the Asian Development Bank on 26 July 2012.

The Order further approves the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of the further contribution.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

The provisions of the Resolution referred to above, as well as the Resolution establishing the Asian Development Fund, may be obtained by application to the Department for International Development, 22 – 26 Whitehall, London SW1A 2EG.

Footnotes

[^f00001]: 2002 c. 1

[^f00002]: Cmnd 3762