The African Development Fund Act, 1982

(1) This Act may be called the African DevelopmentFund Act, 1982. (2) It extends to the whole of India. (3) It shall come into force on such date1as the Central Government may, by notification in theOfficial Gazette, appoint.

In this Act, unless the context otherwise requires,-- (a) "Agreement" means the African Development Fund Agreement; (b) "Fund" means the African Development Fund established under the Agreement.

(1)There shall be paid out of the Consolidated Fund of India, after dueappropriation made by Parliament by law in this behalf, all such sums as may, from time to time, berequired for the purpose of paying,-- (a) the subscription payable by the Central Government to the Fund under Articles 6,7,8 and 9 ofthe 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 theAgreement. (2) The Central Government may, if it thinks fit so to do, create and issue to the Fund, in such form asit thinks fit, any such non-interest bearing and non-negotiable note or other obligations as are provided forby Article 9 of the Agreement.

The Reserve Bank of India shall be the depository ofthe Indian currency holdings of the Fund.

(1) Notwithstanding anything to the contrary contained in any other law, the provisions ofthe 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-- (a) entitling the Fund to import into India goods free of any duty of customs without anyrestriction or their subsequent sale therein; or (b) conferring on the Fund any exemption from duties or taxes which form part of the price ofgoods sold; or (c) conferring on the Fund any exemption from duties or taxes which are in fact no more thancharges for services rendered. (2) The Central Government may, by notification in the Official Gazette, amend the Schedule inconformity with any amendments, duly made and adopted, of the provisions of the Agreement set outtherein.