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

This section gives the Act’s short title.

Jurisdiction: Malawi
Instrument: Act or statute
Citation: Act 15 of 2023
Version: 5 Apr 2023
Language: en
Official source: View official record ↗

appropriation consolidated fund exemptions financing agreement government contracting government payments grant funding international financing payments project financing

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This section gives the Act’s short title. The Minister of Finance is authorized to receive a grant from the International Development Association up to SDR 85,800,000. The Financing proceeds must be used only to provide second additional financing for the Social Support for Resilient Livelihoods Project. Government payments owed to the International Development Association under the Financing Agreement are charged on the Consolidated Fund. Sums payable under section 4 must be paid without deductions and are exempt from any tax, charge, restriction, or limitation under Malawi law.

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

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1
Short title
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This section gives the Act’s short title.

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
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The Minister of Finance is authorized to receive a grant from the International Development Association up to SDR 85,800,000.

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
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The Financing proceeds must be used only to provide second additional financing for the Social Support for Resilient Livelihoods Project.

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
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Government payments owed to the International Development Association under the Financing Agreement are charged on the Consolidated Fund.

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
Section 5
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Sums payable under section 4 must be paid without deductions and are exempt from any tax, charge, restriction, or limitation under Malawi law.

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
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The Minister or appointed persons may settle the Financing Agreement’s terms, sign it for the Government, and do necessary implementing acts, but may not change its general purpose or increase the financing amount.

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

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

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