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II SÉRIE-A — NÚMERO 20

three-fifths of the members, having eighty five percent of the total voting power, have accepted the proposed amendments, the Bank shall certify the fact by formal communication addressed to all members.

b) Notwithstanding a) above, acceptance by all members is required in the case of any amendment modifying:

0 The right to withdraw from the Bank provided

in article vi, section 1; if) The right secured by article II, section 3, c); Hi) The limitation on liability provided in article n, section 6.

c) Amendments shall enter into force for all members three months after the date of the formal communication unless a shorter period is specified in the circular letter or telegram.

ARTICLE IX Interpretations

a) Any question of interpretation of the provisions of this Agreement arising between any member and the Bank or between any members of the Bank shall be submitted to the executive directors for their decision. If the question particularly affects any member not entitled to appoint an executive director, is shall be entitled to representation in accordance with article v, section 4, h).

b) In any case where the executive directors have given a decision under a) above, any member may require that the question be referred to the board of governors, whose decision shall be final. Pending the result of the reference to the board, the Bank may, so far as it deems necessary, act on the basis of the decision of the executive directors.

c) Whenever a disagreement arises between the Bank and a country which has ceased to be a member, or between the Bank and any member during the permanent suspension of the Bank, such disagreement shall be submitted to arbitration by a tribunal of three arbitrators, one appointed by the Bank, another by the country involved and an umpire who, unless the parties otherwise agree, shall be appointed by the president of the Permanent Court of International Justice or such other authority as may have been prescribed by regulation adopted by the Bank. The umpire shall have full power to settle all questions of procedure in any case where the parties are in disagreement with respect thereto.

ARTICLE X Approval deemed given

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

ARTICLE XI Final provisions

Section 1

Entry Into force

This Agreement shall enter into force when it has been signed on behalf or governments whose minimum subscriptions comprise not less than sixty-five percent

of the total subscriptions set forth in schedule A and when the instruments referred to in section 2, a), of this article have been deposited on their behalf, but in no event shall this Agreement enter into force before May 1, 1945.

Section 2 Signature

a) Each government on whose behalf this Agreement is signed shall deposit whith the Government of the United States of America an instrument setting forth that is has accepted this Agreement in accordance with its law and has taken all steps necessary to enable it to carry out all of its obligations under this Agreement.

b) Each government shall become a member of the Bank as from the date of the deposit on its behalf of the instrument referred to in a) above, except that no government shall become a member before this Agreement enters into force under section 1 of this article.

c) The Government of the United States of America shall inform the governments of all countries whose names are set forth in schedule A, and all governments whose membership is approved in accordance with article II, section 1, b), of all signatures of this Agreement and of the deposit of all instruments referred to in a) above.

d) At the time this Agreement is signed on its behalf, each government shall transmit to the Government of the United States of America one one-hundredth of one percent of the price of each share in gold or United States dollars for the purpose of meeting administrative expenses of the Bank. This payment shall be credited on account of the payment to be made in accordance with article II, section 8, a). The Government of the United States of America shall hold such funds in a special deposit account and shall transmit them to the board of governors of the Bank when the initial meeting has been called under section 3 of this article. If this Agreement has not come into force by December 31, 1945, the Government of the United States of America shall return such funds to the governments that transmitted them.

e) This Agreement shall remain open for signature at Washington on behalf of the governments of the countries whose names are set forth in schedule A until December 31, 1945.

f) After December 31, 1945, this Agreement shall be open for signature on behalf of the government of any country whose membership has been approved in accordance with article II, section 1, b).

g) By their signature of this Agreement, all governments accept it both on their own behalf and in respect of all their colonies, overseas territories, all territories under their protection, suzerainty, or authority and all territories in respect of which they exercise a mandate.

h) In the case of governments whose metropolitan territories have been under enemy occupation, the deposit of the instrument referred to in c) above may be delayed until one hundred and eighty days after the date on which these territories have been liberated. If, however, it is not deposited by any such government before the expiration of this period, the signature affixed on behalf of that government shall become void and the portion of its subscription paid under d) above shall be returned to it.