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RS 979.1 Federal Act of 4 October 1991 concerning the participation of Switzerland in the Bretton Woods institutions

Original Language Title: RS 979.1 Loi fédérale du 4 octobre 1991 concernant la participation de la Suisse aux institutions de Bretton Woods

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979.1

Federal Law on the Participation of Switzerland in the Bretton Woods Institutions

4 October 1991 (State 1 Er February 2002)

The Swiss Federal Assembly,

Having regard to the competence of the Confederation in matters of foreign affairs 1 , given art. 39 of the Constitution 2 , 3 Having regard to the message of the Federal Council of 15 May 1991 4 ,

Stops:

Art. 1 Scope of application

This Law contains guidelines for the participation of Switzerland in the International Monetary Fund, the International Bank for Reconstruction and Development, the International Development Association, and the Society International Financial, (known as the Bretton Woods Institutions).

Art. 2 1 International Agreements

1 The Federal Council has the power to conclude international agreements, within the limits of the appropriations, concerning the capital increases of the International Bank for Reconstruction and Development, of the International Association of And the International Finance Corporation.

2 Before you subscribe to capital increases under para. 1, the Federal Council informs the Federal Assembly.

3 Participation in the capital increases of the International Monetary Fund is subject to approval by the Federal Assembly.


1 New content according to the c. I of the PMQ of 22 June 2001, in force since 1 Er Dec. 2002 ( RO 2002 3680 ; FF 2000 3711 , 2001 1906).

Art. 3 Subsidy Benefits

1 The financing of contributions made by Switzerland to the International Bank for Reconstruction and Development, the International Development Association and the International Finance Corporation is governed by the provisions of Art. 9 of the Federal Act of 19 March 1976 on Development Cooperation and International Humanitarian Assistance 1 .

2 The National Bank provides financial benefits to Switzerland as a member of the International Monetary Fund. It lowers refunds, interest and compensation.


Art. 4 Application of membership and representation of Switzerland

1 The Federal Council is working with the National Bank on the application of the membership of the International Monetary Fund of Switzerland. The arrangements for this will be laid down in a convention between the Federal Council and the National Bank.

2 The Federal Council appoints the representatives of Switzerland to the Bretton Woods institutions; in the case of the International Monetary Fund, the designation is in agreement with the National Bank.

Art. 5 Appropriations provided by the International Monetary Fund, Special Drawing Rights, Depositary

1 The National Bank receives the credits allocated to Switzerland by the International Monetary Fund. It is responsible for reimbursements and for the service of interest.

2 It accounts for transactions in special drawing rights.

3 It is the depositary of the assets of the International Monetary Fund in Swiss francs.

Art. 6 Principles of development policy

Switzerland is guided by the principles and objectives of its development policy for any decision or position on developing countries established within the framework of the Bretton Woods institutions.

Art. 7 Referendum and entry into force

1 This Act is subject to an optional referendum.

2 It comes into force at the same time as the treaties between Switzerland and the Bretton Woods institutions. 1 .


1 RS 0.979.1 /.4


Date of entry into force: 29 May 1992 5


RO 1992 2567


1 This competency corresponds to s. 54, para. 1, of the Constitution of 18 April 1999 (RS 101 ).
2 [RS 1 3; RO 1951 603]. This provision currently corresponds to art. 99 of the Constitution of 18 April 1999 (RS 101 ).
3 New content of sentences according to c. I of the PMQ of 22 June 2001, in force since 1 Er Dec. 2002 ( RO 2002 3680 ; FF 2000 3711 , 2001 1906).
4 FF 1991 II 1121
5 ACF of May 18, 1992 (RO 1992 2569)


State 1 Er February 2002