Page:United States Statutes at Large Volume 60 Part 2.djvu/334

 1422 Post,p. 1435 . Ante, p. 1404. Ante, pp. 1406,1407, 1408. Ante, p. 1409. Ante, p. 1415. Extension of sus- pension. Termination. Pos, pp. 1423. 1436 . INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [60 STAT. be informed in reasonable time of the complaint against it and given an adequate opportunity for stating its case, both orally and in writing. Section 3. Settlement of accounts with members withdrawing When a member withdraws from the Fund, normal transactions of the Fund in its currency shall cease and settlement of all accounts between it and the Fund shall be made with reasonable despatch by agreement between it and the Fund. If agreement is not reached promptly, the provisions of Schedule D shall apply to the settlement of accounts. ARTICLE XVI EMERGENCY PROVISIONS Section 1. Temporary suspension (a) In the event of an emergency or the development of unfore- seen circumstances threatening the operations of the Fund, the Execu- tive Directors by unanimous vote may suspend for a period of not more than one hundred twenty days the operation of any of the following provisions: (i) Article IV, Sections 3 and 4 (b) (ii) Article V, Sections 2, 3, 7, 8 (a) and (f) (iii) Article VI, Section 2 (iv) Article XI, Section 1 (b) Simultaneously with any decision to suspend the operation of any of the foregoing provisions, the Executive Directors shall call a meeting of the Board of Governors for the earliest practicable date. (c) The Executive Directors may not extend any suspension be- yond one hundred twenty days. Such suspension may be extended, however, for an additional period of not more than two hundred forty days, if the Board of Governors by a four-fifths majority of the total voting power so decides, but it may not be further extended except by amendment of this Agreement pursuant to Article XVII. (d) The Executive Directors may, by a majority of the total voting power, terminate such suspension at any time. Section 2. Liquidation of the Fund (a) The Fund may not be liquidated except by decision of the Board of Governors. In an emergency, if the Executive Directors decide that liquidation of the Fund may be necessary, they may tem- porarily suspend all transactions, pending decision by the Board. (b) If the Board of Governors decides to liquidate the Fund, the Fund shall forthwith cease to engage in any activities except those incidental to the orderly collection and liquidation of its assets and the settlement of its liabilities, and all obligations of members under this Agreement shall cease except those set out in this Article, in Article XVIII, paragraph (c), in Schedule D, paragraph 7, and in Schedule E. (c) Liquidation shall be administered in accordance with the pro- visions of Schedule E.

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