( b) appoint a Governor or Alternate Governor, appoint or participate in the appointment of a Councillor or Alternate Councillor, or appoint, elect, or participate in the election of an Executive Director.Ģ. ( a) participate in the adoption of a proposed amendment of this Agreement, or be counted in the total number of members for that purpose, except in the case of an amendment requiring acceptance by all members under Article XXVIII( b) or pertaining exclusively to the Special Drawing Rights Department In the case of a suspension of voting rights of a member under Article XXVI, Section 2(b), the following provisions shall apply: A new Schedule L shall be added to the Articles, to read as follows: ( d) Regulations shall be adopted to ensure that before action is taken against any member under ( a), ( b), or ( c) above, the member shall be informed in reasonable time of the complaint against it and given an adequate opportunity for stating its case, both orally and in writing.”Ģ. ( c) If, after the expiration of a reasonable period following a decision of suspension under ( b) above, the member persists in its failure to fulfill any of its obligations under this Agreement, that member may be required to withdraw from membership in the Fund by a decision of the Board of Governors carried by a majority of the Governors having eighty-five percent of the total voting power. The Fund may, by a seventy percent majority of the total voting power, terminate the suspension at any time. During the period of the suspension, the provisions of Schedule L shall apply. ( b) If, after the expiration of a reasonable period following a declaration of ineligibility under ( a) above, the member persists in its failure to fulfill any of its obligations under this Agreement, the Fund may, by a seventy percent majority of the total voting power, suspend the voting rights of the member. Nothing in this Section shall be deemed to limit the provisions of Article V, Section 5 or Article VI, Section 1. “( a) If a member fails to fulfill any of its obligations under this Agreement, the Fund may declare the member ineligible to use the general resources of the Fund. The text of Article XXVI, Section 2 shall be amended to read as follows:
The Governments on whose behalf the present Agreement is signed agree as follows:ġ.
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