Citation and commencement

1.  This Order may be cited as the International Fund for Agricultural Development (Eighth Replenishment) Order 2012 and comes into force on the day after the day on which it is made.

Interpretation

2.  In this Order—

“the Fund” means the International Fund for Agricultural Development established by an agreement dated 13th June 1976 as ratified by the Government on 9th September 1977(2);

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

“the Resolution” means Resolution No 154/XXXII on the Eighth Replenishment of the Fund’s Resources adopted by the Board of Governors of the Fund on 19th February 2009.

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 33,852,000 pounds sterling in accordance with arrangements made between the Government and the Fund 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 pursuant to the arrangements mentioned in paragraph (a),

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

EXPLANATORY NOTE

(This note is not part of the Order)

This Order approves the making of a payment on behalf of the Government of the United Kingdom (“the Government”) to the International Fund for Agricultural Development (“the Fund”) of a sum not exceeding 33,852,000 pounds sterling. The payment approved by this Order will be made pursuant to arrangements made between the Government and the Fund in accordance with Resolution No 154/XXXII on the Eighth Replenishment of the Fund’s Resources adopted by the Board of Governors of the Fund on 19th February 2009 (“the Resolution”). The Order also provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State pursuant to those 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 may be obtained by application to the Department for International Development, 1 Palace Street, London SW1E 5HE.