# The African Development Bank (Subscription to Capital Stock) Order 1983, Note: Explanatory note


The Government of the United Kingdom has become bound by the Agreement establishing the African Development Bank, dated 4th August 1963, as amended by a Resolution of the Board of Governors of the Bank, dated 17th May 1979, to enable non-African countries to become members of the Bank. The amendments made by this Resolution entered into force on 7th May 1982.
This Order provides for the payment to the Bank of a sum of £44,079,721 as the initial subscription from the United Kingdom to the shares of the additional capital stock of the Bank and for the payment of any sum which may be required to maintain the value of that subscription. The Order also provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of that subscription. It further provides that any sums that may be received by the Government from the Bank in pursuance of the Agreement shall be paid into the Consolidated Fund.

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Source: https://www.legislation.gov.uk/uksi/1983/816/note (the official version)
Page: https://openlegislation.uk/african-development-bank-subscription-to-capital-stock-order-1983/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.