672

II SÉRIE — NÚMERO 23

Article 64

Ratification, acceptance, accession and acquisition of membership

1:

a) This Agreement shall be subject to ratification or acceptance by the signatories. Instruments of ratification or acceptance shall be deposited by the signatory Governments with the Depositary before 1 July 1965. The Depositary shall notify each deposit and the date thereof to the other signatories;

6) A State whose instrument of ratification or acceptance is deposited before the date on which this Agreement enters into force shall become a member of the Bank on that date. Any other signatory which complies with the provisions of the preceding paragraph shall become a member on the date on which its instrument of ratification or acceptance is deposited.

2 — Regional states which do not acquire membei-ship of the Bank in accordance with the provisions of paragraph 1 of this article may become members — after the Agreement has entered into force— by accession thereto on such terms as the Board of Governors shall determine. The Government of any such State shall deposit, on or before a date appointed by that Board, an instrument of accession with the Depositary who shall notify such deposit and the date thereof to the Bank and to the parties to" this Agreement. Upon the deposit, the State shall become member of the Bank on the appointed date.

3 — A member may, when depositing its instrument of ratification or acceptance, declare that it retains for itself and its political subdivisions the right to ta* salaries and emoluments paid by the Bank to thai member's citizens, nationals or residents.

Article 65 Entry into force

This Agreement shall enter into force upon the deposit of instruments of ratification or acceptance by twelve signatory Governments whose initial subscriptions, as set forth in annex A to this Agreement, in aggregate comprise not less than sixty-five per cent of the authorized capital stock of the Bankprovided always that 1 January 1964 shall be the earliest date on which this Agreement may enter into force in accordance with the provisions of this article.

1 The words «authorized capital stock of the Bank».shall be understood to refer to such authorized capital stock of the Bank as is equivalent to 211.2 million units of account and as corresponds to the aggregate initial number of shares to be subscribed by the States that may acquire its membership in accordance with paragraph 1 of article 64 of the Agreement; see the Memorandum by the Executive Secretary of the United Nations Economic Commission for Africa on the interpretation of article 65 of the Agreement Establishing the African Development Bank, attached to the final act of the conference.

Article 66 Commencement of operations

1 — As soon as this Agreement enters into force, each member shall appoint a governor, and the Trustee appointed for this purpose and for the purpose indicated in paragraph 5 of article 7 of this Agreement shall call the first meeting of the Board of Governors.

2 — At its first meeting, the Board of Governors:

a) Shall elect nine directors of the Bank, in

accordance with paragraph 1 of article 33

of this Agreement;

and

b) Make arrangements for the determination ol

the date on which the Bank shall commence its operations.

3 — The Bank shall notify its members of the date of the commencement of its operations.

Done in Khartoum, this fourth day of August, nineteen hundred and sixty-three, in a single copy in the English and French languages. Amended at Abidjan by Resolution 05-79 of the Board of Governors, adopted at Abidjan on the seventeenth day of May, mineteen hundred and seventry-nine, date of entry into force: sixteenth February, nineteen hundred and eigthy-one.

ANNEX A

Initial subscriptions to the authorized capital stock of the Bsn3t

"VER DIÁRIO ORIGINAL"