Introductory text

Section 1(1)(a) of the International Monetary Fund Act 1979^f1 (“the Act”) provides that the Treasury may, by order, authorise the payment of sums required for subscriptions to the International Monetary Fund in the event of proposals being made for increases in the United Kingdom’s quota under section 3(a) of Article III of the Fund’s Articles of Agreement. The Board of Governors of the Fund has proposed such an increase.

A draft of this Order has been laid before the House of Commons in accordance with section 1(2) of the Act and approved by resolution of that House.