Payments to Fund

Section 3 of the African Development Fund Act, 1982 deals with payments to Fund. There shall be paid out of the Consolidated Fund of India, after due appropriation made by Parliament by law in this behalf, all such sums as may, from time to time, be required for the purpose of paying,-- (a) the subscription payable by the Central Government to the Fund under Articles 6,7,8 and 9 The Act came into force on 25 Aug 1986.

(1) There shall be paid out of the Consolidated Fund of India, after due appropriation made by Parliament by law in this behalf, all such sums as may, from time to time, be required for the purpose of paying,--

(a) the subscription payable by the Central Government to the Fund under Articles 6,7,8 and 9 of the Agreement;

(b) any sums payable by the Central Government to the Fund under Article 13 of the Agreement; and

(c) any charges payable by the Central Government to the Fund under Article 16 of the Agreement.

(2) The Central Government may, if it thinks fit so to do, create and issue to the Fund, in such form as it thinks fit, any such non-interest bearing and non-negotiable note or other obligations as are provided for by Article 9 of the Agreement.

Section 3, The African Development Fund Act, 1982 (Act 1 of 1982).