International Development Association (Second Additional Financing for Social Support for Resilient Livelihoods Project) (Authorization) Act, 2023

Act 15 of 2023

Citation
Act 15 of 2023
Date
5 April 2023
Language
English
Type
Act
Publication
Download PDF (5.5 MB)
Malawi

International Development Association (Second Additional Financing for Social Support for Resilient Livelihoods Project) (Authorization) Act, 2023

Act 15 of 2023

An Act to authorize the Government of the Republic of Malawi to receive a grant from the International Development Association, in various convertible currencies, not exceeding in the aggregate, the equivalent of eighty-five million, eight hundred thousand Special Drawing Rights (SDR 85,800,000)ENACTED by the Parliament of Malawi as follows—

1. Short title

This Act may be cited as the International Development Association (Second Additional Financing for Social Support for Resilient Livelihoods Project) (Authorization) Act, 2023.

2. Authority to receive the sum of SDR 85,800,000

(1)The Minister of Finance, on behalf of the Government of the Republic of Malawi, is hereby authorized to receive from the International Development Association, a grant in various convertible currencies, not exceeding in the aggregate, the equivalent of eighty-five million, eight hundred thousand Special Drawing Rights (SDR 85,800,000) (the “Financing”).
(2)The Financing shall be applied for the purpose specified in section 3, at the times and on the terms and conditions which the Minister may, in his discretion, agree with the International Development Association.
(3)The terms and conditions referred to in subsection (2) shall be reduced to writing and such agreement is hereinafter referred to as the “Financing Agreement”.

3. Application of the Financing

The proceeds of the Financing authorized by section 2 shall be appropriated and applied for the purpose of providing second additional financing for the Social Support for Resilient Livelihoods Project, and for no other purpose.

4. Payments charged on the Consolidated Fund

Any payments required to be made, from time to time, by the Government to the International Development Association, under and in accordance with the provisions of the Financing Agreement, are hereby charged on the Consolidated Fund.

5. Exemption from taxes, charges, etc.

All sums to be paid in accordance with section 4 shall, notwithstanding the provisions of any other written law, be paid without deductions for, and free from, any tax or charge whatsoever, and shall be free from all restrictions or limitations imposed by or under any written law of Malawi.

6. Finalization and signature of the Financing Agreement

The Minister or such other persons as he may appoint, is hereby authorized to—
(a)settle the terms of the Financing Agreement, but not so as to affect the general purpose thereof, nor to increase the amount of the Financing;
(b)sign the Financing Agreement on behalf of the Government; and
(c)do such other things as may be necessary to implement the terms of the Financing Agreement.
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History of this document

05 April 2023 this version
Commenced
04 April 2023
Assented to