Page:United States Statutes at Large Volume 60 Part 2.djvu/372

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [60 STAr. ARTICLE IX INTERPRETATION (a) Any question of interpretation of the provisions of this Agree- ment arising between any member and the Bank or between any members of the Bank shall be submitted to the Executive Directors for their decision. If the question particularly affects any member not entitled to appoint an executive director, it shall be entitled to Ante, p. 1452. representation in accordance with Article V, Section 4 (h). (b) In any case where the Executive Directors have given a decision under (a) above, any member may require that the question be referred to the Board of Governors, whose decision shall be final. Pending the result of the reference to the Board, the Bank may, so far as it deems necessary, act on the basis of the decision of the Executive Directors. Submittal of dis- (C) Whenever a disagreement arises between the Bank and a agreement to arbitra- tion. country which has ceased to be a member, or between the Bank and any member during the permanent suspension of the Bank, such dis- agreement shall be submitted to arbitration by a tribunal of three arbitrators, one appointed by the Bank, another by the country involved and an umpire who, unless the parties otherwise agree, shall be appointed by the President of the Permanent Court of Inter- national Justice or such other authority as may have been prescribed by regulation adopted by the Bank. The umpire shall have full power to settle all questions of procedure in any case where the parties are in disagreement with respect thereto. ARTCLE X APPROVAL DEEMED GIVEN Whenever the approval of any member is required before any act Ante, p. 49. may be done by the Bank, except in Article VIII, approval shall be deemed to have been given unless the member presents an objection within such reasonable period as the Bank may fix in notifying the member of the proposed act. ABTICLE XI FINAL PROVISIONS Section 1. Entry into force This Agreement shall enter into force when it has been signed on behalf of governments whose minimum subscriptions comprise not less than sixty-five percent of the total subscriptions set forth in Pod, p.146. Schedule A and when the instruments referred to in Section 2 (a) of this Article have been deposited on their behalf, but in no event shall this Agreement enter into force before May 1, 1945. Section 2. Signature Deposit of instru- mentsof acceptance. (a) Each government on whose behalf this Agreement is signed shall deposit with the Government of the United States of America an instrument setting forth that it has accepted this Agreement in 1460

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