Law Approving The Accession Of Mexico To The Convention Articles Of The Bank's Development Of The Caribbean And Its Execution

Original Language Title: Ley que aprueba la Adhesión de México al Convenio Constitutivo del Banco de Desarrollo del Caribe y su Ejecución

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Law that Approves Mexico's Accession to the Constitutional Convention of the Caribbean Development Bank and its Implementation

LAW APPROVING MEXICO ' S ACCESSION TO THE TREATY ESTABLISHING THE CARIBBEAN DEVELOPMENT BANK AND ITS IMPLEMENTATION

Official Journal of the Federation on January 5, 1982

Latest Reform Published in DOF December 29, 2014

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

JOSÉ LÓPEZ PORTILLO, 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, Decreta:

LAW APPROVING MEXICO ' S ACCESSION TO THE TREATY ESTABLISHING THE CARIBBEAN DEVELOPMENT BANK AND ITS IMPLEMENTATION.

ARTICLE 1o.- Mexico's accession to the Caribbean Development Bank is approved.

ARTICLE 2o.- The Secretariat of Finance and Public Credit will be the only authorized entity and liaison body to deal with all the Caribbean Development Bank.

ARTICLE 3o.- The Bank of Mexico will make, with the guarantee of the Federal Government, the subscription of shares or social parts, of the Development Bank of the Caribbean, to the equivalent of U.S. dls. 15,6000.00 (fifteen million six hundred thousand dollars, currency of the United States of America), of weight and law in force at the 1st. of September 1969, of which the U.S. dls would be payable. 3.562,500.00 (three million five hundred and sixty-two thousand five hundred dollars, currency of the United States of America), with an initial payment equivalent to 20% (20%) and 5 (5) annual payments for the equivalent of 16% (16%). One hundred), each.

Similarly, the Bank of Mexico will make, with the Federal Government Guarantee, the subscription of shares or social parts of the Development Bank of the Caribbean, up to the equivalent of U.S. DLS. 6 ' 260,946.12 (SIX MILLION TWO HUNDRED AND SIXTY THOUSAND NINE HUNDRED AND FORTY-SIX DOLLARS 12/100, CURRENCY OF THE UNITED STATES OF AMERICA), of which would be payable in cash U.S. DLS. 1' 254,601.92 (ONE MILLION TWO HUNDRED AND FIFTY-FOUR THOUSAND SIX HUNDRED ONE U.S. DOLLAR 92/100 UNITED STATES OF AMERICA), corresponding to the First General Increase in the Social Capital and Subscriptions of the Member Countries of the Bank of Development of the Caribbean, through five annual payments, equivalent to 20% (TWENTY PER CENT) each from 1991.

The Federal Government is authorized to, through the Bank of Mexico, subscribe to shares or social parts of the Caribbean Development Bank until for the equivalent of 28 '210,000 (twenty-eight million two hundred and ten thousand) dollars of the United States of America, of which, would be payable in cash 6' 206,000 (six million two hundred and six thousand) dollars from the United States of America.

ARTICLE 4.- The Federal Executive Branch of the Bank of Mexico will cover the equivalent of 3 ' 000,000 (three million) dollars from the United States of America, corresponding to the seventh capital replenishment of the Special Development Fund of the Caribbean Development Bank, as referred to in Article 8. of the Constitutional Convention of the Bank itself. As a result, the total amount contributed by Mexico to the Special Development Fund amounts to the amount of 32 ' 333,000 (thirty-two million three hundred and thirty-three thousand) dollars from the United States of America.

ARTICLE 5o.- The Bank of Mexico, S. A., shall be the depositary in Mexico of the availabilities of the Caribbean Development Bank, in accordance with Article 37 of the Convention. Constitutive of the Bank itself.

ARTICLE 6o.- The Federal Government will guarantee the Bank of Mexico, S. A., the subscription of shares or social parts of the Development Bank of the Caribbean, as well as all the operations that the Bank of Mexico, S. A., carries out with the Bank of Mexico, in such a way that the Bank of Mexico, S. A., never resents any loss with reason for such subscription and operations.

ARTICLE 7o.- The Secretariat of Finance and Public Credit, will appoint the Governor Owner and the Deputy Governor, who will serve as such in the Development Bank of the Caribbean.

ARTICLE 8.- The Secretariat of Finance and Public Credit, will appoint the Executive Director and the Alternate Director, who will serve as such in the Caribbean Development Bank.

ARTICLE 9o.- The Mexican State recognizes the legal personality of the Caribbean Development Bank, as well as the immunities, tax exemptions and privileges it refers to. Chapter VIII of the Constitutional Convention of the Bank.

The federal courts will be the only ones competent to know about the business of the Caribbean Development Bank, its officials or employees resident in Mexico or they may in some way affect property owned by that Institution.

The courts under no circumstances will be able to issue coercive injunctions against the Caribbean Development Bank, its officials and employees in its capacity, or in any way affect the Bank's assets.

ARTICLE 10o.- The officials and employees of the Caribbean Development Bank, as well as the properties and assets of this Agency, its archives and its official communications, shall enjoy the immunities, privileges and tax exemptions referred to in the text of the Bank's Constitutive Agreement.

TRANSIENT

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

Mexico, D. F., at December 29, 1981.- Blas Chumacero Sánchez, S.P.- Marco Antonio Aguilar Cortés, D.P.- Luis Leon Aponte, S.S.- Silvio Lagos Martínez, D.S.- Headings ".

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 exempt the present Decree 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 eighty-one.- José López Portillo.-Heading.-The Secretary of Finance and Public Credit, David Ibarra Munoz.-Heading.-The Relations Secretary Exteriors, Jorge Castañeda.-Heading.-The Secretary of the Interior, Enrique Olivares Santana.-Heading.