Amendment Of The Agreement Establishing The European Bank For Reconstruction And Development

Original Language Title: Änderung des Übereinkommens zur Errichtung der Europäischen Bank für Wiederaufbau und Entwicklung

Read the untranslated law here: https://www.global-regulation.com/law/austria/2996417/nderung-des-bereinkommens-zur-errichtung-der-europischen-bank-fr-wiederaufbau-und-entwicklung.html

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Amendment of the agreement establishing the European Bank for reconstruction and Entwicklung1

The following italic printed words, it is added to article 1:

"Article 1

Purpose

The Bank's purpose is, through support of economic progress and reconstruction in the Central and Eastern European countries, which they have committed themselves to the principles of multiparty democracy, pluralism and a market economy, and apply them to enhance the transition to open market economies and to promote private and entrepreneurial initiative. Under the same conditions, the Bank may have their purpose in Mongolia. In accordance to all passages in this Convention and its annexes that relate to "Central and Eastern European countries", recipient country (or countries) or recipient member country (or countries), also apply to Mongolia."

Amendment to the agreement establishing the European Bank for reconstruction and development

Article 1 of the agreement establishing the Bank shall be amended to read as follows (new text in italics):

"Article 1

PUR POSE

In contributing to economic progress and reconstruction, the purpose of the Bank shall be to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative in the Central and Eastern European countries committed to and applying the principles of multiparty democracy, pluralism and market economics. The purpose of the Bank may therefore be carried out in Mongolia subject to the same conditions. "Accordingly, any reference in this agreement and its annexes to"Central and Eastern European countries","countries from Central and Eastern Europe","recipient country (or countries)"recipient member country (or countries) or shall refer to Mongolia as well."

 

After notification of the Secretary-General of the European Bank for reconstruction and development from July 14, 2006, the amendment in accordance with article 56 comes into force paragraph 3 of the Convention on October 15, 2006.

Faymann