1.-(1) This Order may be cited as the International Development Association (Fifth Replenishment: Interim Payments) Order 1977 and shall come into operation on 7th November 1977.

(2) In this Order-

"the Association" means the International Development Association established by the Agreement;

"the Agreement" means the Articles of Agreement of the International Development Association dated 29th January 1960 and accepted on behalf of Her Majesty's Government in the United Kingdom on 14th September 1960(1).

"the Resolution" means the Resolution of the Executive Directors of the Association on Bridging Arrangements for Advanced Contributions to the Fifth Replenishment, adopted on 22nd March as IDA R77-15, the text of which was presented to Parliament by Command of Her Majesty in June 1977(2).

(3) The Interpretation Act 1889 shall apply to the interpretation of, and otherwise in relation to, this Order as it applies to the interpretation of, and otherwise in relation to, an Act of Parliament.

2. The Minister of Overseas Development may make payment on behalf of Her Majesty's Government in the United Kingdom out of moneys provided by Parliament of additional contributions to the Association of sums not exceeding in the aggregate £158,257,192.18 in accordance with arrangements made between Her Majesty's said Government and the Association in accordance with the terms of the Resolution.

3. The Minister of Overseas Development may redeem out of moneys provided by Parliament any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by him and accepted by the Association in accordance with the said arrangements or any provision of the Agreement applied by the said arrangements.

4. Any sums received by Her Majesty's said Government from the Association in pursuance of the Agreement as applied by the said arrangements shall be paid into the Consolidated Fund.

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 Order provides for the payment to the Association of sums not exceeding £158,257,192·18 as an interim additional contribution not carrying voting rights being part of the Fifth Replenishment of the resources of the Association, and for the redemption of non-interest-bearing and non-negotiable notes issued by the Minister of Overseas Development 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.