The International Bank For Reconstruction And Development Agreement Contract Amendment

Original Language Title: Par Starptautiskās Rekonstrukcijas un attīstības bankas Vienošanās līguma grozījumu

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/201977

The Saeima has adopted and the President promulgated the following laws: the international bank for reconstruction and development agreement contract amendment article 1. International bank for reconstruction and development agreement contract (hereinafter referred to as the Treaty) amendment of the international bank for reconstruction and development and the participation of Member States of the right to vote to increase the (Amendment) law is accepted and approved. 2. article. The amendment shall enter into force in article VIII of the Treaty within the time and in order, and the Ministry of Foreign Affairs shall notify the newspaper "journal". 3. article. The law shall enter into force on the day following its promulgation. With the law amendment is put for the English text and its translation into Latvian language. The Parliament adopted the law of 26 November 2009. President Valdis Zatlers in Riga V 2009 December 15 amendment OF the articles OF agreement OF the INTERNATIONAL BANK FOR DEVELOPMENT AND Development Board of Governors Resolution Of. 596, About A (A) the increase in Basic votes. The Board of Governors of the hereby resolve: 1. Article V, Section 3 (a) of the articles of agreement of the Bank shall be amended to read as follows: Section 3. Voting "(a) the voting power of each member shall be equal to the sum of its basic votes and share votes. (i) the basic votes of each member shall be the number of votes that results from the equal distribution among all members of 5.55 percent of the aggregate of the sum of the voting power of all the members, provided that there shall be from fractional basic votes. (ii) the share of each member shall be the votes of the number of votes that results from the allocation of one vote for each share of stock held. " 2. The amendment shall enter into force above for all members as of the date three months after the Bank, by formal communications addressed certif to all members, that the three-fifth of the members, having 85% of the total voting power, have accepted the amendment.

International BANK for reconstruction and development agreement contract amendment of the Board of Governors resolution No. 596, part A (A) increasing the number of basic votes. The Board of Trustees hereby decides: 1. To amend the Bank agreed in article V of the Treaty (a) (a)) item and express it as follows: part 3. The vote ") in each Member State a number of votes equal to its basic votes and the votes of shareholders according to the amount. (i) the basic votes of each Member State shall constitute the number of votes obtained by dividing the Member States equally 5.55 percent of the voting rights of all the Member States, provided that the basic votes is the only whole numbers. (ii) each Member State according to the percentage of votes a certain way the number of votes obtained by assigning one vote for each Member State-owned capital. " 2. the amendment shall enter into force for all Member States within three months after the Bank, in a written statement to all Member States confirmed that three-fifths of all the Member States, who together hold 85% of the total voting rights, have agreed to this amendment.