Inauguration of the Bank. (a) As soon as this Agreement enters into force under Section 1 of this Article, each member shall appoint a governor and the member to whom the largest number of shares is allocated in Schedule A shall call the first meeting of the Board of Governors.
(b) At the first meeting of the Board of Governors, arrangements shall be made for the selection of provisional executive directors. The governments of the five countries, to which the largest number of shares are allocated in Schedule A, shall appoint provisional executive directors. If one or more of such governments have not become members, the executive directorships which they would be entitled to fill shall remain vacant until they become members, or until January 1, 1946, whichever is the earlier. Seven provisional executive directors shall be elected in accordance with the provisions of Schedule B and shall remain in office until the date of the first regular election of executive directors which shall be held as soon as practicable after January 1, 1946.
(c) The Board of Governors may delegate to the provisional executive directors any powers except those which may not be delegated to the Executive Directors.
(d) The Bank shall notify members when it is ready to commence operations. Done at Washington, in a single copy which shall remain deposited in the archives of the Government of the United States of America, which shall transmit certified copies to all Governments whose names are set forth in Schedule A and to all governments whose membership is approved in accordance with Article II, Section 1 (b).
Inauguration of the Bank. (a) As soon as this Agreement enters into force under Section 1 of this Article, each member shall appoint a governor and the member to whom the largest number of shares is allocated in Schedule A shall call the first meeting of the Board of Governors.
(b) At the first meeting of the Board of Governors, arrangements shall be made for the selection of provisional executive directors. The governments of the five countries, to which the largest number of shares are allocated in Schedule A, shall appoint provisional executive directors. If one or more of such governments have not become members, the executive directorships which they would be entitled to fill shall remain vacant until they become members, or until January 1, 1946, whichever is the earlier. Seven provisional executive directors shall be elected in accordance with the provisions of Schedule B and shall remain in office until the date of the first regular election of executive directors which shall be held as soon as practicable after January 1, 1946.
(c) The Board of Governors may delegate to the provisional executive directors any powers except those which may not be delegated to the Executive Directors.
(d) The Bank shall notify members when it is ready to commence operations. DONE at Washington, in a single copy which shall remain deposited in the archives of the Government of the United States of America, which shall transmit certified copies to all governments whose names are set forth in Schedule A and to all governments whose membership is approved in accordance with Article II, Section I (b). Australia 200.0 Iran 24.0 Belgium 225.0 Iraq 6.0 Bolivia 7.0 Liberia 0.5 Brazil 105.0 Luxembourg 10.0 Canada 325.0. Mexico 65.0 Chile 35.0 Netherlands 275.0 China 600.0 New Zealand 50.0 Colombia 35.0 Nicaragua 0.8 Costa Rica 2.0 Norway 50.0 Cuba 35.0 Panama 0.2 Czechoslovakia 125.0 Paraguay 0.8 Denmark (a) Peru 17.5 Dominican Republic 2.0 Philippine Commonwealth 15.0 Ecuador 3.2 Poland 125.0 Egypt 40.0 Union of South Africa 100.0 El Salvador 1.0 Union of Soviet Socialist Ethiopia 3.0 Republics 1,200.0 France 450.0 United Kingdom 1,300.0 Greece 25.0 United States 3,175.0 Guatemala 2.0 Uruguay 10.5 Haiti 2.0 Venezuela 10.5 Honduras 1.0 Yugoslavia 40.0 Iceland India 1.0 400.0 Total 9,100.0
a. The quota of Denmark shall be determined by the Bank after Denmark accepts membership in accordance with these Articles of Agreement.
Inauguration of the Bank. 1. As soon as this Agreement enters into force pursuant to paragraph 2 of Article XVIII hereof, a General Meeting of Shareholders of the Bank shall be convened by the Provisional Depositary in accordance with the provisions of paragraph (3) of Article 16 of the Charter.
2. The Bank shall commence operations on the date appointed by the General Meeting of Shareholders of the Bank. We, the several persons whose names and addresses are set out in Schedule “A” hereto have, pursuant to the provisions of the Agreement (as herein-below defined), agreed to establish an international institution for the promotion and financing of intra-African and extra-African trade, which is hereby constituted and shall operate in accordance with the following provisions: Name, Legal Status, Definitions, Headquarters, Offices, Objects and Powers
