DON JUAN CARLOS I, KING OF SPAIN

To all who present it and understand,

Sabed: That the General Courts have approved and I come to sanction the following Law:

Article first.

Spain will participate in the fifth expansion of resources of the International Development Association with a thousand four hundred and forty-four million four hundred and sixty-four thousand pesetas convertible into the conditions that set out in the resolution of its Board of Governors of sixteen of June, one thousand nine hundred and seventy-seven, which is published as annexed to this Law.

Of this amount, a thousand four hundred twenty-nine million six hundred ten thousand and five pesetas will be in the concept of contributions without voting rights and fourteen million eight hundred and fifty-three thousand nine hundred pesetas as voting subscriptions.

Article 2.

The payment of the subscriptions and contributions will be made in three instalments, in accordance with any of the modalities provided for in the resolution mentioned in the previous article.

Third item.

The Bank of Spain is authorized, in accordance with the functions assigned to it by the provisions in force, to apply the convertible pesetas that are necessary for the payment of the aforementioned transactions.

For this purpose, the Banco de España may issue notes or other similar securities to the view and at its nominal value, in place of the disbursements to be paid in pesetas.

For the purposes of the subscription that is authorized, the Banco de España will perform the functions provided for in the fourth article of the Decree-law number eleven/thousand nine hundred and seventy, twenty-one of September.

Article 4.

The Ministries of Economy, Finance and Foreign Affairs are empowered to adopt as many measures as are necessary for the implementation of what is available in this Law.

Article 5.

This Law will enter into force the day after its publication in the "Official State Gazette".

Therefore,

I command all Spaniards, individuals and authorities, to keep and keep this Law.

Palacio Real, de Madrid, two October, one thousand nine hundred and seventy-nine.

JOHN CARLOS R.

The President of the Government,

ADOLFO SUAREZ GONZALEZ

ANNEX

International Promotion Association

RESOLUTION NUMBER 102

ADDITIONS TO RESOURCES

FIFTH REPLENISHMENT

Section A) Introduction.

1. Whereas:

a) The Executive Directors of the International Development Association have considered their future financial needs and have concluded that the Association should be provided with additional resources to make In the light of new commitments during the period 1 July 1977 to 30 June 1980, on the basis of and in the quantities described in the Executive Directors ' report dated 29 March 1977, submitted to the Board of Governors.

(b) The members of Part I and some members of Part II of the Association consider that it is necessary to increase the resources of the Association, that the quantities and conditions described in this resolution constitute a basis for appropriate to their recommendation to their legislative and, consequently, they intend to request their respective legislative, when necessary, the approval of these measures with a view to obtaining the approval to compromise the quantities resent in Table II, well understood that no commitment acquired by a Member Government will be valid until it has been obtained from its relevant legislative, if necessary, the corresponding approval.

c) In view of the resource needs of the poorest and least developed countries, member countries have recognized the desirability of obtaining additional resources through voluntary additional contributions; contributions would be accepted by the Association under agreed terms with the contributing members.

2. For all this, the Board of Governors resolves to accept the aforementioned report from the Executive Directors and adopt its conclusions.

Section B). Additional resources provided by members of Part I.

3. Whereas:

a) A portion of the resources that the members of Part I intend to obtain, in accordance with Section A), of this Resolution, will be in the form of voting subscriptions, and part in the form of non-right contributions. a vote.

(b) The respective portions of the total quantity that each member provides by means of subscriptions have been calculated in such a way as to result in the adjustment of the proportional share of each member in the total of the voting capacities of the members of Part I (without counting the votes that are granted for being members), to correspond to the proportional participation in the total of the resources that has been proposed and it is proposed to make available for each member of the Association on the basis set out in the said report of the directors executives.

(c) Each member of Part I of the Association has agreed upon the above provisions, as long as this acceptance is required by Article III, Section 1, (c) of the Association's Constitutive Convention.

4. The Board of Governors resolves that:

(a) The Association is authorised to accept additional resources from the members of Part I of the Association in the quantities set out for each of those members in Table II, amounts which shall in turn be divided into other for voting subscriptions and non-voting contributions, as specified in Table III.

(b) Each member shall have in relation to these subscriptions the voting rights specified for this in Table III, calculated on the basis of 1,700 votes plus one additional vote for every 25 dollars of such subscription, for such purposes. votes may be adjusted to reflect the provisions of paragraph 18 (a) of the report in respect of unconditioned commitments.

c) The payment of each of these subscriptions and contributions shall be made, except in the case below, in three equal annual instalments to be made in the periods ending, respectively, on 8 November 1977, 8 November 1978 and 8 November 1979, provided that, if the replacement authorised by this Resolution has not entered into force in accordance with Section F, (a), after 8 October 1977, the payment of that period shall be postponed, (a) to make cash before the period of 30 days after the date on which the date of entry into force of the replacement. This payment shall be made effective, at the option of the member, either (i), in the currency of the Member State if it is a freely convertible currency (as defined in Section 2, (f) of Article II of the Association's Constitutive Convention, or (ii) with the approval of the Association, in convertible currency of another country.

d) A member may choose to make payments in increasing amounts rather than equal, provided that they are made in three instalments, the first of which must not be less than 25 per 100 of the total and be paid on November 8, 1977, at the latest, or if the replacement has entered into force on 8 October 1977, within 30 days of the date on which it is due. If a member is worth this option you will not be able to use the one described below under the heading e).

e) If a member warns the Association, at least thirty days before the date on which a payment is due, that due to administrative procedures or difficulties it is not in a position to make such a payment and wishes to defer it, this payment shall be postponed for a period not exceeding 12 months; also, if it warns the Association, before the expiry date of the first period, that it wishes to make the payment of its subscription and contribution in four annual instalments, instead of three, this member will be able to make the payment in this way. A member may benefit from one of the two options set out in this heading, but not both.

(f) Notwithstanding the foregoing, any member who wishes to make the payment of his subscription and contribution without exercising his right to replace him with similar promissory notes or obligations may make such payment in amounts and dates other than those specified in the headings (c), (d) and (e), provided that the terms of such payment are not less favourable to the Association than if they had been deposited in their place of paper or similar obligations.

g) The rights and obligations of the Association and the members in respect of subscriptions and contributions shall be the same (except as otherwise stipulated in this Resolution) than those governing 90 per 100 of the initial subscriptions of the founding members, payable, pursuant to Article II (2) (d) of the Constitutive Convention, by members in Part I of Annex A to the Convention, provided that the provisions of Article IV, section 2, of the Constitutive Convention do not apply to subscriptions and contributions.

(h) (i) Unless formal notifications are deposited, as expressed in item 27 of the report, covering in total, at least, 80 per 100 of the second term (the second third of the total replenishment), and 80 per 100 of the deadline (iii) final (third of the total replenishment), respectively, IDA will not grant new loans, since the corresponding disbursements would have to be made from the second and third periods, respectively, from the contributions of the Donor governments.

(ii) The provisions of heading (h), (i), above shall not exclude the possibility of IDA contracting new conditional credits to be effective and binding for IDA (allowing IDA to use second and third funds). period, respectively, to finance disbursements of the same) when they receive formal notifications covering at least the quantities specified above.

iii) If a delay in formal notifications affecting the possibility of reaching the total sums specified above and as a result of the provisions of heading (h), (i), above, is produced, You can grant new unconditioned credits, IDA will ask that the Delegates meet as soon as possible in order to consider the necessary steps to receive formal notifications.

(iv) Any member who deposits a formal notice, as indicated in item 27 of the report, after the expiration date of the first term, including any deferral (as indicated under heading c) (a) the payment of such a time limit by the member shall be made effective within 30 days of the date of the said deposit.

Section C). Additional resources provided by some members of Part II, under the fifth replenishment.

5. Whereas:

(a) The members of Part II (Korea, Saudi Arabia, Spain and Yugoslavia) have expressed their intention to request the legislative authorization to make available to the Association usable funds, part in the form of subscriptions with the right to vote and party in the form of non-voting contributions, on the basis expressed in the aforementioned executive directors ' report.

b) With respect to such voting subscriptions the remaining members of Part II have waived their right to subscribe under the provisions of Section I, c), an amount that would allow each of them to they maintain their proportional voting power.

6. For all this, the Board of Governors resolves that:

(a) The Association is authorised to accept additional resources of the members listed under heading 5, (a) above, and the amounts provided shall be divided into subscriptions with the right to vote and contributions without right a vote, as specified in Table IV, columns 14 and 15, respectively.

(b) Each member shall, with the right to such subscription, have the voting rights specified in Table IV, column 13, calculated on the basis of one vote for every 25 dollars of the said subscription.

c) The payment of each such subscription and contributions shall be made in a usable form, but otherwise shall be made on the same basis, and the rights and obligations of the Association and the member concerned, with respect to such contribution and subscription, shall be in accordance with the same terms and conditions as provided in Section B) of this Resolution for the subscriptions and contributions of Part I, provided, however, that the provisions of Section 2 of Article IV the Constitutive Convention does not apply to subscriptions and contributions.

Section D). Subscriptions to Part II, Article III, Section 1, c).

7. Whereas:

The proposed additional subscriptions are authorized by the members of Part I under Section B of this Resolution and, therefore, under the provisions of Article III, Section 1, c) of the Constitutive Convention. Association, each member of Part II shall have the opportunity to subscribe, under the conditions reasonably determined by the Association, an amount that will enable that member to maintain its proportional voting power.

8. The Board of Governors therefore resolves that:

(a) The Association is authorised to accept additional subscriptions by members of Part II, in the quantities and with the voting rights expressed for each of those members, in Table IV, columns 11, 8 and 10, calculated on the basis of 1,700 votes plus one additional vote for every 25 dollars of subscription.

(b) The rights and obligations of the Association and the members in respect of such subscriptions shall be the same (except as otherwise provided for in this Resolution) than those governing the 90 per 100 of the subscriptions the original of the founding members, to be paid under Article II, Section 2, (d) of the Constitutive Convention, by the members listed in Part II of Annex A to the Convention, provided that the provisions of Article IV, Section 2, of the Constitutive Convention do not apply to such subscriptions.

Section E). General.

9. The resources provided for by the fifth replenishment may be used to deal with any obligation on the part of the Association to make disbursements corresponding to loans contracted under the fourth replenishment, if other funds for this purpose.

Section F). Entry into force.

10. The Board of Governors hereby resolves that:

a) None of the subscriptions and contributions authorized by this Resolution will be payable until the following condition has been met:

Have submitted to the Association formal notification, in the terms set out in paragraph 27 of the Executive Directors ' report, as at 30 June 1977, a number of members, including at least 12 of Part I, the sum of whose subscriptions and contributions are imported no less than the equivalent, as determined in paragraph 7 of the report, of $6,000,000, committing to make the subscriptions and contributions authorized for each Member in accordance with the terms of this Resolution, taking into account, to determine if the condition expressed in this item with respect to the amount of the subscriptions and contributions has been satisfied, the contribution made by the United Arab Emirates, whether or not it has entered the Association as a member of the Association.

(b) The replacement authorised by this Resolution shall be made when the condition specified in the previous heading (a) has been satisfied, however, that no member has been obliged to make the contribution and subscription here authorized for such member, unless you have notified the Association that it will do so. On the date that such condition has been satisfied, each member who has given such notification to the Association shall be entitled to the agreed votes to its subscription as in this Resolution is specified. Each member who has notified the Association at a later date shall be entitled, from the date of the notification, to the agreed voting rights to its subscription as specified in this Resolution.