Amendment Of The Agreement Establishing The European Bank For Reconstruction And Development, The Use Of Special Fund In Recipient Countries And Potential Recipient Countries To Tagged...

Original Language Title: Änderung des Übereinkommens zur Errichtung der Europäischen Bank für Wiederaufbau und Entwicklung, um die Verwendung von Sonderfonds in Empfängerländern und potenziellen Empfängerländern zu ge...

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206. Amendment to the Convention on the establishment of the European Bank for Reconstruction and Development 1 in order to allow the use of special funds in beneficiary countries and potential recipient countries

Article 18 of the Convention shall be amended to read as follows:

" ARTICLE 18: SPECIAL FUNDS

1.

(i) The Bank can manage special funds in their beneficiary countries and potential recipient countries , which serve their purpose and fall within their remit. All costs for the management of such a special fund shall be borne by the special fund concerned.

(ii)

For the purposes of subsection (i), the Board of Governors may, at the request of a non-recipient country, decide that such a member as a potential recipient country may be eligible for a limited period of time and on conditions which: Seem advisable. Such a decision shall be taken by the approval of at least two-thirds of the Governors representing at least three quarters of the total number of votes of the members.

(iii)

The decision to grant the member the qualification as a potential recipient country can only be made if such a member is able to qualify for the conditions by which it can become a recipient country. These conditions are laid down in Article 1 of this Convention, as they are at the time of such a decision or are to be read after an amendment has entered into force which, at the time of such decision, has already been amended by the Board of Governors has been approved.

(iv)

If a potential recipient country has not become a recipient country at the end of the period to which subsection (ii) relates, the Bank shall immediately cease any special business activity in that country except those for the ordinary the implementation, maintenance and protection of the assets of the Special Fund and the payment of commitments made in connection with it.

2.

The special funds made available by the Bank may in their beneficiary countries and potential recipient countries shall be used in any manner and in any manner compatible with the purpose and tasks of the Bank, the other relevant provisions of this Convention and the agreements or agreements concluded through those funds.

3.

The Bank shall all provide for the establishment, management and use of the individual special funds the necessary arrangements. These must be compatible with the provisions of this Convention, with the exception of those expressly applicable only to the ordinary business activity of the Bank. "

AMENDMENT OF THE AGREEMENT ESTABLISHING THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT IN ORDER TO ALLOW THE USE OF SPECIAL FUNDS IN RECIPIENT COUNTRIES AND POTENTIAL RECIPIENT COUNTRIES

Article 18 of the Agreement be amended to read as follows:

" Article 18: SPECIAL FUNDS

1.

(i) The Bank may accept the administration of Special Funds which are designed to serve the purpose and come within the functions of the Bank in its recipient countries and potential recipient countries. The full cost of administering any such Special Fund shall be charged to that Special Fund.

(ii)

For the purposes of subparagraph (i), the Board of Governors may, at the request of a member which is not a recipient country, decide that such member qualifies as a potential recipient country for such limited period and under such terms as may seem . Such decision shall be taken by the affirmative vote of not less than two-thirds of the Governors, representing not less than three-fourths of the total voting power of the members.

(iii)

The decision to allow a member to qualify as a potential recipient country can only be made if such a member is able to meet the requirements for becoming a recipient country. Search requirements are those set out in Article 1 of this Agreement, as it reads at the time of such decision or as it will read upon the entry into force of an amendment that has already been approved by the Board of Governors at the time of such an amendment. decision.

(iv)

If a potential recipient country has not become a recipient country at the end of the period referred to in subparagraph (ii), the Bank shall forthwith cease any special operations in that country, except those incident to the orderly realization, conservation and preservation of the assets of the Special Fund and settlement of obligations that have arisen in connection rous.

2.

Special Funds accepted by the Bank may be used in its recipient countries and potential recipient countries in any manner and on any terms and conditions consistent with the purpose and functions of the Bank, with the other applicable provisions of this Agreement, and with the agreement or agreements relating to such funds.

3.

The Bank shall adopt such rules and regulations as may be required for the establishment, administration and use of each Special Fund. Search rules and regulations shall be consistent with the provisions of this Agreement, except for those provisions applicable only to ordinary operations of the Bank. "

According to the note by the Secretary-General of the European Bank for Reconstruction and Development of 14 August 2012, the above amendment came into force on 22 August 2012, pursuant to Article 56 (3) of the Convention.

Faymann