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Article 2 Verdrag tot oprichting van de Bank voor Economische Samenwerking en Ontwikkeling in het Midden-Oosten en Noord-Afrika

a) All payment obligations of members with respect to initial capital stock shall be settled on the basis of the average value of the Special Drawing Right in terms of a freely usable currency or the ECU for the period August 1, 1995, to October 31, 1995.

b) Each original member shall pay for the paid-in portion of shares to which it subscribed in five installments of twenty percent each. Each member shall pay the first installment within ninety days from the date on which this Agreement enters into force with respect to such member, and, subject to its legislative requirements, shall pay each of the four remaining installments one year from the date on which the preceding installment became due.

c) Payment of each installment of the paid-in portion of shares may be made in cash or in the form of non-negotiable, non-interest-bearing promissory notes or similar obligations denominated in a freely usable currency or ECU, to be encashed pro rata pursuant to a decision by the Board of Directors in order to meet the Bank’s obligations or its operational needs.

d) Payment of the amount subscribed to the callable portion of the capital stock of the Bank shall be subject to call only as and when required by the Bank to meet its liabilities. Calls on any portion of unpaid subscriptions shall be uniform on all shares. If the amount received by the Bank on a call shall be insufficient to meet the obligations which have necessitated the call, the Bank may make further successive calls on unpaid subscriptions until the aggregate amount received by it shall be sufficient to meet such obligations.

e) Payments of subscriptions in cash shall be made in a freely usable currency. For purposes of this Article, a freely usable currency is a currency determined to be freely usable by the International Monetary Fund.

f) Liability on shares shall be limited to the unpaid portion of the issue price.

Regeling
Verdrag tot oprichting van de Bank voor Economische Samenwerking en Ontwikkeling in het Midden-Oosten en Noord-Afrika
Soort
Verdrag
Geldend vanaf
28-08-1996
BWB-id
BWBV0004742
Versie
1996-08-28_0

In de hele regeling · Officiële tekst op wetten.overheid.nl