# The International Monetary Fund (Limit on Lending) Order 2020

Draft 2020, ISBN 9780348209211

This Order increases the total amount that the United Kingdom can loan to the International Monetary Fund (“IMF”) from 18,657.38 million to 22,912.32 million special drawing rights (“SDRs”).

Made under: International Monetary Fund Act 1979 (Section 2)

PDFs: Printed copy https://openlegislation.uk/draft-international-monetary-fund-limit-on-lending-order-2020/pdf/ukdsi_9780348209211_en.pdf; UK Draft Explanatory Memorandum https://openlegislation.uk/draft-international-monetary-fund-limit-on-lending-order-2020/pdf/ukdsiem_9780348209211_en.pdf

## Introductory text

Draft Order laid before the House of Commons under section 2(3) of the International Monetary Fund Act 1979, for approval by resolution of that House.
International Monetary Fund
Made ***
Coming into force ***
This Order is made in the exercise of the powers conferred by section 2(2) of the International Monetary Fund Act 1979.
A draft of this Order has been laid before the House of Commons in accordance with section 2(3) of that Act and approved by a resolution of that House.
Accordingly, the Treasury make the following Order:

## 1 Citation and commencement

This Order may be cited as the International Monetary Fund (Limit on Lending) Order 2020 and comes into force on the day after the day on which it is made.

## 2 Increase in limit on lending

The limit on lending imposed by section 2(1) of the International Monetary Fund Act 1979 is raised to 22,912.32 million special drawing rights.

## 3 Revocation

The International Monetary Fund (Limit on Lending) Order 2010 is revoked.

## Signature

Name
Name
Two of the Lords Commissioners of Her Majesty’s Treasury
Date

## Explanatory note

(This note is not part of the Order)
This Order increases the total amount that the United Kingdom can loan to the International Monetary Fund (“IMF”) from 18,657.38 million to 22,912.32 million special drawing rights (“SDRs”).
The limit was previously raised from 12,470 million to 18,657.38 million SDRs by the International Monetary Fund (Limit on Lending) Order 2010, which is revoked by this Order.
An SDR is the unit of account used by the IMF. Its value is calculated daily as a weighted average of the US dollar, euro, yen, Chinese renminbi and pound sterling. Its value can be found on the IMF’s website (www.imf.org).
An impact assessment has not been produced for this Order as no impact on the costs of business or the voluntary sector is foreseen.

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Source: https://www.legislation.gov.uk/ukdsi/2020/9780348209211 (the official version)
Page: https://openlegislation.uk/draft-international-monetary-fund-limit-on-lending-order-2020
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.