THE AFRICAN DEVELOPMENT FUND ACT, 1982

THE AFRICAN DEVELOPMENT FUND ACT, 1982

ACT NO. 1 OF 1982

[4th March 1982.]

An Act to implement the African Development Fund Agreement and for matters connected therewith.

BE it enacted by Parliament in the Thirty-third Year of the Republic of India as follows:—

  1. Short title, extent and commencement.—(1) This Act may be called the African Development Fund Act,
  • It extends to the whole of India.
  • It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette,
  1. In this Act, unless the context otherwise requires,—
    • “Agreement” means the African Development Fund Agreement;
    • “Fund” means the African Development Fund established under the
  2. Payments to Fund.—(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,—
    • the subscription payable by the Central Government to the Fund under Articles 6,7,8 and 9 of the Agreement;
    • any sums payable by the Central Government to the Fund under Article 13 of the Agreement;

and

  • 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.

  1. Reserve Bank to be depository for Fund.—The Reserve Bank of India shall be the depository of the Indian currency holdings of the Fund.
  2. Conferment of status and certain immunities, exemptions and privileges on Fund and conferment of certain immunities, exemptions and privileges on its officers and —(1) Notwithstanding anything to the contrary contained in any other law, the provisions of the Agreement set out in the Schedule shall have the force of law in India:

Provided that nothing in Article 49 of the Agreement shall be construed as

  • entitling the Fund to import into India goods free of any duty of customs without any restriction or their subsequent sale therein; or
  • conferring on the Fund any exemption from duties or taxes which form part of the price of goods sold; or
  • conferring on the Fund any exemption from duties or taxes which are in fact no more than charges for services

 

 

 
   
  1. 25thAugust, 1986, vide notification G.S.R. 1035(E), dated 25th August, 1986, see Gazette of India, Extraordinary, Part II, sec. 3(i).

 

(2) The Central Government may, by notification in the Official Gazette, amend the Schedule in conformity with any amendments, duly made and adopted, of the provisions of the Agreement set out therein.

  1. Power to make rules.—The Central Government may, by notification in the Official Gazette, make rules for carrying out the purposes of this Act.
  2. Notifications issued under section 5 and rules made under section 6 to be laid before —Every notification issued under sub-section (2) of section 5 and every rule made under section 6 shall be laid, as soon as may be after it is issued or made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the notification or, as the case may be, in the rule or both Houses agree that the notification or rule should not be issued or made, the notification or rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that notification or rule.

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