# The International Development Association (Third Replenishment: Interim Payments) Order 1971, Note: Explanatory note


The Overseas Aid Act 1968, section 1(5), provides that if the Government of the United Kingdom becomes bound by arrangements for the making of additional payments to the International Development Association, the Minister of Overseas Development may, with the approval of the Treasury, provide by order for the payment out of moneys provided by Parliament of any sums required by him for any of the purposes specified in that subsection. This power is now exercisable by the Secretary of State.
This Order provides for the payment to the Association of sums not exceeding the equivalent of US $ 103,680,000 as additional contributions to the Association not carrying voting rights, for the payment of any sum which may be required to maintain the foreign exchange value of such additional contributions, and for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of those additional contributions. The Order further provides that certain sums which may be received by the Government of the United Kingdom from the Association shall be paid into the Consolidated Fund.

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Source: https://www.legislation.gov.uk/uksi/1971/1773/note (the official version)
Page: https://openlegislation.uk/international-development-association-third-replenishment-interim-payments-order-1971/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.