International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 416 : Increases in subscription of certain members to capital stock (Anglais)

On April 13, 1987, the International Bank for Reconstruction and Development (IBRD) Board of Governors adopted resolution number four hundred and sixteen. It was resolved that, pursuant to Article II, Section 3(b) of the Articles of Agreement, the Bank...  Voir la suite On April 13, 1987, the International Bank for Reconstruction and Development (IBRD) Board of Governors adopted resolution number four hundred and sixteen. It was resolved that, pursuant to Article II, Section 3(b) of the Articles of Agreement, the Bank is hereby authorized to accept additional subscriptions to shares of its capital stock upon the following conditions: (a) each listed member of the Bank (Canada, India, Italy, Japan, Korea and the Netherlands), may subscribe up to the maximum number of shares of capital stock of the Bank set forth opposite its name; (b) each subscription authorized shall have the following terms and conditions: (i) the subscription price per share shall be par; (ii) a member may subscribe from time to time prior to a date 29 months after the date of dispatch of the notification or the date of the dispatch of the notification, or such later date as the Executive Directors may determine; (iii) the subscribing member shall pay to the Bank gold or United States dollars equal to 0.875 percent of the subscription price of the shares subscribed and an amount in its own currency equal to 7.875 percent of such subscription price; (iv) the Bank shall call the amounts of subscriptions payable which are not required to be paid, only when required to meet obligations of the Bank for funds borrowed or on loans guaranteed by it, and not for use by the Bank in its lending activities or for administrative expenses; and (v) before any subscription shall be accepted by the Bank, specific actions shall have been taken.  Réduire