Page:United States Statutes at Large Volume 60 Part 2.djvu/353

 60 STAT.] MULTILATERAL-INTERNATIONAL BANK-DEC. 27, 1945 (v) To conduct its operations with due regard to the effect of international investment on business conditions in the terri- tories of members and, in the immediate post-war years, to assist in bringing about a smooth transition from a wartime to a peacetime economy. The Bank shall be guided in all its decisions by the purposes set forth above. ARTIciE II MEMBERSHIP IN AND CAPITAL OF THE BANK Section 1. Membership (a) The original members of the Bank shall be those members of the International Monetary Fund which accept membership in the Bank before the date specified in Article XI, Section 2 (e). (b) Membership shall be open to other members of the Fund, at such times and in accordance with such terms as may be prescribed by the Bank. Section 2. Authorized capital (a) The authorized capital stock of the Bank shall be $10,000,- 000,000, in terms of United States dollars of the weight and fineness in effect on July 1, 1944. The capital stock shall be divided into 100,000 shares having a par value of $100,000 each, which shall be available for subscription only by members. (b) The capital stock may be increased when the Bank deems it advisable by a three-fourths majority of the total voting power. Section 3. Subscription of shares (a) Each member shall subscribe shares of the capital stock of the Bank. The minimum number of shares to be subscribed by the origi- nal members shall be those set forth in Schedule A. The minimum number of shares to be subscribed by other members shall be deter- mined by the Bank, which shall reserve a sufficient portion of its capi- tal stock for subscription by such members. (b) The Bank shall prescribe rules laying down the conditions under which members may subscribe shares of the authorized capital stock of the Bank in addition to their minimum subscriptions. (c) If the authorized capital stock of the Bank is increased, each member shall have a reasonable opportunity to subscribe, under such conditions as the Bank shall decide, a proportion of the increase of stock equivalent to the proportion which its stock theretofore sub- scribed bears to the total capital stock of the Bank, but no member shall be obligated to subscribe any part of the increased capital. Section 4. Issue price of shares Shares included in the minimum subscriptions of original mem- bers shall be issued at par. Other shares shall be issued at par unless the Bank by a majority of the total voting power decides in special circumstances to issue them on other terms. 1441 Post, p. 1461. Increase in capital stock. Poat, p. 14e6

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