The Caribbean Development Bank (Eighth Replenishment of the Unified Special Development Fund) Order 2013

Made: 11th December 2013

Coming into force in accordance with Article 1

Accordingly, the Secretary of State for International Development makes the following Order:

Citation and commencement

1

This Order may be cited as the Caribbean Development Bank (Eighth Replenishment of the Unified Special Development Fund) Order 2013 and shall come into force on the day after the day on which it is made.

Interpretation

2

In this Order—

• “the Agreement” means the Agreement establishing the Caribbean Development Bank dated 18 October 1969, as ratified by the Government of the United Kingdom on 23 January 1970[^f00002];

• “the Bank” means the Caribbean Development Bank established by the Agreement;

• “the Fund” means the Special Development Fund (Unified) of the Bank, established by Article 8 of the Agreement;

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

• “the Resolution” means the “Resolution of Contributors to the Special Development Fund of the Caribbean Development Bank (SDF8)” adopted by the Board of Directors on 21 March 2013.

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 £36,000,000 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 him and accepted by the Bank pursuant to the arrangements mentioned in paragraph (a),

Signed

Justine Greening — Secretary of State — Department for International Development — 10th December 2013

We approve,

Karen Bradley — Anne Milton — Two of the Lords Commissioners of Her Majesty’s Treasury — 11th December 2013

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order approves the making of a payment on behalf of the Government of the United Kingdom to the Caribbean Development Bank of a sum not exceeding £36,000,000 as the contribution of the Government of the United Kingdom to the eighth replenishment of the resources of the Special Development Fund (Unified) of the Bank in accordance with arrangements made with the Bank pursuant to the Resolution entitled “Resolution of Contributors to the Special Development Fund of the Caribbean Development Bank (SDF8)” adopted by the Board of Directors of the Bank on 21st March 2013.

The Order also provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State pursuant to the arrangements.

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 mentioned in this Order may be obtained by application to the Department for International Development, 22-26 Whitehall, London SW1A 2EG.

Footnotes

[^f00001]: 2002 c. 1.

[^f00002]: Cmnd. 4358