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II SÉRIE — NÚMERO 72

Article 33

President and staff

a) The president shall, under the general control of the Board, conduct the ordinary business of the Agency. He shall be responsible for the organization, appointment and dismissal of the staff.

b) The president shall be appointed by the Board on the nomination of its chairman. The Council shall determine the salary and terms of the contract of service of the president.

c) In the discharge of their offices, the president and the staff owe their duly entirely to the Agency and to no other authority. Each member of the Agency shall respect the international character of this duty and shall refrain from all attempts to influence the president or the staff in the discharge of their duties.

d) In appointing the staff, the president shall, subject to the paramount importance of securing the highest standards of efficiency and of technical competence, pay due regard to the importance of recruiting personnel on as wide a geographical basis as possible.

c) The president and staff shall maintain at all times the confidcnciality of information obtained in carrying out the Agency's operations.

Article 34

Political activity prohibited

The Agency, its president and staff shall not interfere in the political affairs of any member. Without prejudice to the right of the Agency to lake into account all the circumstances surrounding an investment, they shall noi be influenced in their decisions by the political character of the member or members concerned. Considerations relevant to their decisions shall be weighed impartially in order to achieve the purposes stated in article 2.

Article 35

Relations with international organizations

The Agency shall, within the terms of this Convention, cooperate with the United Nations and with other intergovernmental organizations having specialized responsibilities in related fields, including in particular the Bank and the International Finance Corporation.

Article 36

Location of principal otTlcc

d) The principal office of the Agency shall be located in Washington, D. C, unless the Council, by special majority, decides to establish it in another location.

b) The Agency may establish other offices as may be necessary for its work.

Article 37 Depositories for assets

Each member shall designate its central bank as a depository in which the Agency may keep holdings of such member's currency or other assets of the Agency or, if it has no central bank, it shall designate for such purpose such other institution as may be acceptable to the Agency.

Article 38 Channel of communication

a) Each member shall designate an appropriate authority with which the Agency may communicate in connection with any matter arising under this Convention. The Agency may rely on statements of such authority as being statements of the member. The Agency, upon the request of a member, shall consult with that member with respect to matters dealt with in articles 19 to 21 and related to entities or insurers of that member.

b) Whenever the approval of any member is required before any act may be done by the Agency, approval shall be deemed to have been given unless the member presents an objection within such reasonable period as the Agency may fix in notifying the member of the proposed act.

CHAPTER VI Voting, adjustments uf subscriptions and representation

Article 39

Voting and adjustments of subscriptions

a) In order to provide for voting arrangements that reflect the equal interest in the Agency of the two categories of States listed in schedule A of this Convention, as well as the importance of each member's financial participation, each member shall have 177 membership votes plus one subscription vote for each share of stock held by that member.

b) If at any time within three years after the entry into force of this Convention, the aggregate sum of membership and subscription votes of members which belong to cither of the two categories of Suites listed in schedule A of this Convention is less than forty percent of the total voting power, members from such a category shall have such number of supplementary votes as shall be necessary for the aggregate voting power of the category to equal such a percentage of the total voting power. Such supplementary votes shall be distributed among the members of such category in the proportion that the subscription votes of each bears to the aggregate of subscription votes of the category. Such supplementary votes shall be subject to automatic adjustment to ensure that such percentage is maintained and shall be cancelled at the end of the above-mentioned thrcc-ycar period.

c) During the third year following the entry into force of this Covcntion, the Council shall review the allocation of shares and shall be guided in its decision by the following principles:

0 The votes of members shall rcficct actual subscriptions to the Agency's capital and the membership votes as set out in section a) of this article;

it) Shares allocated to countries which shall not have signed the Convention shall be made available for reallocation to such members and in such manner as to make possible voting parity between the above-mentioned categories; and

ui) The Council will take mensurcs dial will facilitate members' ability to subscribe to shares allocated to them.