Law Establishing Bases for the Execution in Mexico, by the Federal Executive Branch, of the Convention of the International Development Association

LAW ESTABLISHING BASES FOR THE IMPLEMENTATION IN MEXICO, BY THE FEDERAL EXECUTIVE BRANCH, OF THE CONVENTION ESTABLISHING THE INTERNATIONAL ASSOCIATION OF PROMOTION

Official Journal of the Federation on December 31, 1960

Latest Reform Published in DOF December 29, 2014

On the sidelines a seal with the National Shield, which says: United Mexican States. -Presidency of the Republic.

ADOLFO LÓPEZ MATEOS, Constitutional President of the United Mexican States, to its inhabitants, known:

That the H. Congress of the Union has been used to address the following

DECREE:

The Congress of the United Mexican States, decrees:

LAW ESTABLISHING BASES FOR THE IMPLEMENTATION IN MEXICO, BY THE FEDERAL EXECUTIVE BRANCH, OF THE CONVENTION ESTABLISHING THE INTERNATIONAL ASSOCIATION OF PROMOTION

ARTICLE 1o.- The Convention of the International Development Association is hereby approved for the purposes of Article 73 of the Political Constitution of the United States of Mexico, according to the text adopted in Washington on January 26, 1960.

ARTICLE 2o.- The Federal Government is authorized to make the following contribution to the International Development Association through the Bank of Mexico up to the equivalent of Special Drawing Rights, which follows:

a) 66 ' 140,000 (sixty-six million one hundred and forty thousand), by way of additional subscription corresponding to the 16th Capital Reorder, amount to be added to previous subscriptions made by our country.

ARTICLE 3o.- The Secretariat of Finance and Public Credit will be the only agency authorized to deal with the International Development Association and to exercise the with respect to all classes of faculties.

ARTICLE 4.- The Bank of Mexico, S. A. shall be the depositary in Mexico of the availabilities of the International Development Association, in accordance with Article VI Section 9 of the Convention's Constitution.

ARTICLE 5o.- (Repeals).

ARTICLE 6o.- The Owner and Substitute Governors representing Mexico to the International Development Association will be the same as those who serve as such in the Bank. International for Reconstruction and Development.

ARTICLE 7o.- The Substitute Governor shall have the authority of the Owner, in the event of his absence, except for the restrictions established by the Secretariat of Finance and Public Credit.

ARTICLE 8o.- (Repeals).

ARTICLE 9o.- The Mexican State recognizes the legal personality of the International Development Association. The federal courts will be the only ones competent to know of the businesses in which the International Development Association is a party, its officials or employees resident in Mexico or in some way may affect property owned by the company. Institution.

In no case will the Courts dictate precautious providences on the assets of the International Development Association and may only dictate a mandate for embargo or execution, when there is an executed statement against it.

ARTICLE 10.- Officials and employees of the International Development Association, as well as the property and property of this Agency, its archives and its official communications, shall enjoy the immunities, Tax exemptions and privileges referred to in the text of the Convention approved by the Executive Directors of the International Bank for Reconstruction and Development on 26 January 1960.

ARTICLE 11.- The Federal Government will require the express authorization of the Congress of the Union to accept modifications to the subscription of Mexico to the International Association of Encourage, accept amendments to the respective Convention, make loans to this Body and separate from it.

TRANSIENT

ONLY.- This decree shall enter into force on the day of its publication in the Official Journal of the Federation.

Enrique Sada Baigts, D. P.- Guillermo Ramírez Valadez, S. P.- Juan José Osorio Palacios, D. S.- José Rodríguez Elias, S. S.-Rubicas.

In compliance with the provisions of Article 89 of the Political Constitution of the United Mexican States and for their proper publication and observance, I hereby express my request for the Law at the residence of the Federal Executive Branch, in Mexico City, Federal District, at the thirty days of December of a thousand nine hundred and sixty.- Adolfo López Mateos.-Heading.-The Secretary of Finance and Public Credit, Antonio Ortiz Mena.-Heading.-The Foreign Secretary, Manuel Tello.-Heading.-The Secretary of Government, Gustavo Díaz Ordaz.-Heading.