Law on the Convention on the International Monetary Fund, as amended in 1976

Original Language Title: Gesetz zu dem Übereinkommen über den Internationalen Währungsfonds in der Fassung von 1976

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Law on the International Monetary Fund Convention in the 1976 version of the International Monetary Fund (IWF Act)

Unofficial table of contents

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Date of completion: 09.01.1978

Full quote:

" IMF Law of 9 January 1978 (BGBl. 13), which was last amended by Article 155 of the Regulation of 31 December 2008. October 2006 (BGBl. 2407). "

Status:

Last amended by Art. 155 V v. 31.10.2006 I 2407

For more details, please refer to the menu under Notes

Footnote

(+ + + Text evidence from: 13.1.1978 + + +)

The 1976 idF Convention is in accordance with. Bek. v. 3.5.1978 II 838 entered into force on 1.4.1978. Unofficial table of contents

Input formula

With the approval of the Federal Council, the Bundestag has adopted the following law: Unofficial table of contents

Species 1

The recast of the Agreement on the International Monetary Fund, approved by the Board of Governors of the Fund until 30 April 1976 (original version: BGBl. 1952 II p. 638; amendments and additions to 1968: BGBl. 1968 II p. 1227) agreed. The recast referred to in the following text shall be published below. Unofficial table of contents

Type 2

The German Bundesbank shall exercise the right under Article V of the Convention to apply for funds from the International Monetary Fund within the reserve sector within the meaning of Article XXX (c) of the Convention. Unofficial table of contents

Art 3

(1) Assets (special drawing rights, amounts in German marks or foreign currency or gold) to be provided for the performance of claims of the Federal Republic of Germany from their membership in the International Monetary Fund shall be transferred to the Deutsche Bundesbank on. (2) obligations of the Federal Republic of Germany from its membership in the International Monetary Fund to provide such assets is fulfilled by the Deutsche Bundesbank. (3) Special drawing rights, which are the international Monetary Fund of the Federal Republic of Germany in connection with Credit of the Deutsche Bundesbank to the Fund shall be transferred to the Deutsche Bundesbank. Unofficial table of contents

Species 4

The Deutsche Bundesbank shall handle the commercial transactions of the Federal Republic of Germany with the International Monetary Fund in accordance with Article V, Section 1 of the Convention. It is the deposit under Article XIII (2) of the Convention. Unofficial table of contents

Species 5

(1) The Federal Government appoints the Governor and the Deputy Governor for the Federal Republic of Germany in the International Monetary Fund in consultation with the Deutsche Bundesbank. In agreement with the Federal Ministry of Finance, the Governor or the Deputy Governor may appoint temporary Deputy Governors. (2) The Federal Ministry of Finance shall exercise the law of the Federal Republic of Germany Appointment of a member of the Council at ministerial level of the International Monetary Fund, a deputy and the co-ordinator in consultation with the Deutsche Bundesbank. (3) The Federal Ministry of Finance exercises the right of Federal Republic of Germany to fill the position of an Executive Director in the International Monetary Fund in consultation with the Deutsche Bundesbank. The Executive Director shall appoint the Deputy Executive Director in accordance with the instructions of the Federal Ministry of Finance. The second sentence shall apply mutatily to the appointment of a temporary Deputy Executive Director. Unofficial table of contents

Species 6

(1) The Governor and the member of the Council at ministerial level shall carry out their duties in agreement with the Federal Ministry of Finance, which shall establish the agreement with the Federal Ministry of Economics and Technology. (2) The other Authorized persons in the Board of Governors and in the Council at ministerial level, as well as those entitled to explain in the Executive Board, act on instructions from the Federal Ministry of Finance. Unofficial table of contents

Species 7

The cooperation between the Federal Government and the Deutsche Bundesbank in the application of the Convention is governed by an administrative arrangement. Unofficial table of contents

Art 8

The Federal Government shall inform the German Bundestag and the Bundesrat of matters of particular importance which arise in the application of the Convention. Unofficial table of contents

Art 9

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Species 10

This law shall also apply in the Land of Berlin, provided that the Land Berlin determines the application of this law. Unofficial table of contents

Art 11

(1) This Act shall enter into force, with the exception of Articles 2 to 9, on the day following its proclamation. (2) Articles 2 to 9 of this Act shall enter into force on the date on which the Convention (recast) shall enter into force for the Federal Republic of Germany. (3) The date on which the Convention (recast) is to enter into force for the Federal Republic of Germany pursuant to Article XVII of the previous version shall be published in the Federal Law Gazans (Bundesgesetzblatt).