GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bretton Woods and Related Agreements Act — B-7 (c)
(c) No taxation of any kind shall be levied on any obligation or security issued by the Corporation (including any dividend or interest thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the Corporation; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Corporation.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) which discriminates against such obligation or security solely because it is issued by the Corporation; or
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Corporation.
Bretton Woods and Related Agreements Act — B-7 (d)
(d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Corporation (including any dividend or interest thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is guaranteed by the Corporation; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Corporation.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) which discriminates against such obligation or security solely because it is guaranteed by the Corporation; or
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Corporation.
Bretton Woods and Related Agreements Act — B-7 Section 10
Section 10 Application of Article Each member shall take such action as is necessary in its own territories for the purpose of making effective in terms of its own law the principles set forth in this Article and shall inform the Corporation of the detailed action which it has taken.
Bretton Woods and Related Agreements Act — B-7 Section 11
Section 11 Waiver The Corporation in its discretion may waive any of the privileges and immunities conferred under this Article to such extent and upon such conditions as it may determine.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) This Agreement may be amended by vote of three-fifths of the Governors, exercising four-fifths of the total voting power.
Bretton Woods and Related Agreements Act — B-7 (b)
(b) Notwithstanding paragraph (a) above, the affirmative vote of all Governors is required in the case of any amendment modifying: (i) the right to withdraw from the Corporation provided in Article V, Section 1; (ii) the pre-emptive right secured by Article II, Section 2(d); (iii) the limitation on liability provided in Article II, Section 4.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) the right to withdraw from the Corporation provided in Article V, Section 1;
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) the pre-emptive right secured by Article II, Section 2(d);
Bretton Woods and Related Agreements Act — B-7 (iii)
(iii) the limitation on liability provided in Article II, Section 4.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) Any proposal to amend this Agreement, whether emanating from a member, a Governor or the Board of Directors, shall be communicated to the Chairman of the Board of Governors who shall bring the proposal before the Board of Governors. When an amendment has been duly adopted, the Corporation shall so certify by formal communication addressed to all members. Amendments shall enter into force for all members three months after the date of the formal communication unless the Board of Governors shall specify a shorter period.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) Any question of interpretation of the provisions of this Agreement arising between any member and the Corporation or between any members of the Corporation shall be submitted to the Board of Directors for its decision. If the question particularly affects any member of the Corporation not entitled to appoint an Executive Director of the Bank, it shall be entitled to representation in accordance with Article IV, Section 4(g).
Bretton Woods and Related Agreements Act — B-7 (b)
(b) In any case where the Board of Directors has 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 of Governors, the Corporation may, so far as it deems necessary, act on the basis of the decision of the Board of Directors.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) Whenever a disagreement arises between the Corporation and a country which has ceased to be a member, or between the Corporation and any member during the permanent suspension of the Corporation, such disagreement shall be submitted to arbitration by a tribunal of three arbitrators, one appointed by the Corporation, another by the country involved and an umpire who, unless the parties otherwise agree, shall be appointed by the President of the International Court of Justice or such other authority as may have been prescribed by regulation adopted by the Corporation. The umpire shall have full power to settle all questions of procedure in any case where the parties are in disagreement with respect thereto.
Bretton Woods and Related Agreements Act — B-7 Section 1
Section 1 Entry into Force This Agreement shall enter into force when it has been signed on behalf of not less than 30 governments whose subscriptions comprise not less than 75 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 October 1, 1955.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) Each government on whose behalf this Agreement is signed shall deposit with the Bank an instrument setting forth that it has accepted this Agreement without reservation in accordance with its law and has taken all steps necessary to enable it to carry out all of its obligations under this Agreement.
Bretton Woods and Related Agreements Act — B-7 (b)
(b) Each government shall become a member of the Corporation as from the date of the deposit on its behalf of the instrument referred to in paragraph (a) above except that no government shall become a member before this Agreement enters into force under Section 1 of this Article.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) This Agreement shall remain open for signature until the close of business on December 31, 1956, at the principal office of the Bank on behalf of the governments of the countries whose names are set forth in Schedule A.
Bretton Woods and Related Agreements Act — B-7 (d)
(d) After this Agreement shall have entered into force, it shall be open for signature on behalf of the government of any country whose membership has been approved pursuant to Article II, Section 1(b).
Bretton Woods and Related Agreements Act — B-7 (a)
(a) As soon as this Agreement enters into force under Section 1 of this Article the Chairman of the Board of Directors shall call a meeting of the Board of Directors.
Bretton Woods and Related Agreements Act — B-7 (b)
(b) The Corporation shall begin operations on the date when such meeting is held.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) Pending the first meeting of the Board of Governors, the Board of Directors may exercise all the powers of the Board of Governors except those reserved to the Board of Governors under this Agreement.
Bretton Woods and Related Agreements Act — B-7
Done at Washington, in a single copy which shall remain deposited in the archives of the International Bank for Reconstruction and Development, which has indicated by its signature below its agreement to act as depository of this Agreement and to notify all governments whose names are set forth in Schedule A of the date when this Agreement shall enter into force under Article IX, Section 1 hereof.
Bretton Woods and Related Agreements Act — B-7
Considering the need to strengthen international cooperation for economic development and to foster the contribution to such development of foreign investment in general and private foreign investment in particular;
Bretton Woods and Related Agreements Act — B-7
Recognizing that the flow of foreign investment to developing countries would be facilitated and further encouraged by alleviating concerns related to non-commercial risks;
Bretton Woods and Related Agreements Act — B-7
Desiring to enhance the flow to developing countries of capital and technology for productive purposes under conditions consistent with their development needs, policies and objectives, on the basis of fair and stable standards for the treatment of foreign investment;
Bretton Woods and Related Agreements Act — B-7
Convinced that the Multilateral Investment Guarantee Agency can play an important role in the encouragement of foreign investment complementing national and regional investment guarantee programs and private insurers of non-commercial risk; and
Bretton Woods and Related Agreements Act — B-7
Realizing that such Agency should, to the extent possible, meet its obligations without resort to its callable capital and that such an objective would be served by continued improvement in investment conditions,
Bretton Woods and Related Agreements Act — B-7 (a)
(a) There is hereby established the Multilateral Investment Guarantee Agency (hereinafter called the Agency).
Bretton Woods and Related Agreements Act — B-7 (b)
(b) The Agency shall possess full juridical personality and, in particular, the capacity to: (i) contract; (ii) acquire and dispose of movable and immovable property; and (iii) institute legal proceedings.
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) acquire and dispose of movable and immovable property; and
Bretton Woods and Related Agreements Act — B-7
The objective of the Agency shall be to encourage the flow of investments for productive purposes among member countries, and in particular to developing member countries, thus supplementing the activities of the International Bank for Reconstruction and Development (hereinafter referred to as the Bank), the International Finance Corporation and other international development finance institutions.
Bretton Woods and Related Agreements Act — B-7 (a)
To serve its objective, the Agency shall: (a) issue guarantees, including coinsurance and reinsurance, against non-commercial risks in respect of investments in a member country which flow from other member countries; (b) carry out appropriate complementary activities to promote the flow of investments to and among developing member countries; and (c) exercise such other incidental powers as shall be necessary or desirable in the furtherance of its objective. The Agency shall be guided in all its decisions by the provisions of this Article.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) issue guarantees, including coinsurance and reinsurance, against non-commercial risks in respect of investments in a member country which flow from other member countries;
Bretton Woods and Related Agreements Act — B-7 (b)
(b) carry out appropriate complementary activities to promote the flow of investments to and among developing member countries; and
Bretton Woods and Related Agreements Act — B-7 (c)
(c) exercise such other incidental powers as shall be necessary or desirable in the furtherance of its objective.
Bretton Woods and Related Agreements Act — B-7
The Agency shall be guided in all its decisions by the provisions of this Article.
Bretton Woods and Related Agreements Act — B-7 (a)
For the purposes of this Convention: (a) Member means a State with respect to which this Convention has entered into force in accordance with Article 61. (b) Host country or host government means a member, its government, or any public authority of a member in whose territories, as defined in Article 66, an investment which has been guaranteed or reinsured, or is considered for guarantee or reinsurance, by the Agency is to be located. (c) A developing member country means a member which is listed as such in Schedule A hereto as this Schedule may be amended from time to time by the Council of Governors referred to in Article 30 (hereinafter called the Council). (d) A special majority means an affirmative vote of not less than two-thirds of the total voting power representing not less than fifty-five percent of the subscribed shares of the capital stock of the Agency. (e) A freely usable currency means (i) any currency designated as such by the International Monetary Fund from time to time, and (ii) any other freely available and effectively usable currency which the Board of Directors referred to in Article 30 (hereinafter called the Board) may designate for the purposes of this Convention after consultation with the International Monetary Fund and with the approval of the country of such currency.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) Member means a State with respect to which this Convention has entered into force in accordance with Article 61.
Bretton Woods and Related Agreements Act — B-7 (b)
(b) Host country or host government means a member, its government, or any public authority of a member in whose territories, as defined in Article 66, an investment which has been guaranteed or reinsured, or is considered for guarantee or reinsurance, by the Agency is to be located.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) A developing member country means a member which is listed as such in Schedule A hereto as this Schedule may be amended from time to time by the Council of Governors referred to in Article 30 (hereinafter called the Council).
Bretton Woods and Related Agreements Act — B-7 (d)
(d) A special majority means an affirmative vote of not less than two-thirds of the total voting power representing not less than fifty-five percent of the subscribed shares of the capital stock of the Agency.
Bretton Woods and Related Agreements Act — B-7 (e)
(e) A freely usable currency means (i) any currency designated as such by the International Monetary Fund from time to time, and (ii) any other freely available and effectively usable currency which the Board of Directors referred to in Article 30 (hereinafter called the Board) may designate for the purposes of this Convention after consultation with the International Monetary Fund and with the approval of the country of such currency.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) any currency designated as such by the International Monetary Fund from time to time, and
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) any other freely available and effectively usable currency which the Board of Directors referred to in Article 30 (hereinafter called the Board) may designate for the purposes of this Convention after consultation with the International Monetary Fund and with the approval of the country of such currency.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) Membership in the Agency shall be open to all members of the Bank and to Switzerland.
Bretton Woods and Related Agreements Act — B-7 (b)
(b) Original members shall be the States which are listed in Schedule A hereto and become parties to this Convention on or before October 30, 1987.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) The authorized capital stock of the Agency shall be one billion Special Drawing Rights (SDR1,000,000,000). The capital stock shall be divided into 100,000 shares having a par value of SDR10,000 each, which shall be available for subscription by members. All payment obligations of members with respect to capital stock shall be settled on the basis of the average value of the SDR in terms of United States dollars for the period January 1, 1981 to June 30, 1985, such value being 1.082 United States dollars per SDR.
Bretton Woods and Related Agreements Act — B-7 (b)
(b) The capital stock shall increase on the admission of a new member to the extent that the then authorized shares are insufficient to provide the shares to be subscribed by such member pursuant to Article 6.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) The Council, by special majority, may at any time increase the capital stock of the Agency.
Bretton Woods and Related Agreements Act — B-7
Each original member of the Agency shall subscribe at par to the number of shares of capital stock set forth opposite its name in Schedule A hereto. Each other member shall subscribe to such number of shares of capital stock on such terms and conditions as may be determined by the Council, but in no event at an issue price of less than par. No member shall subscribe to less than fifty shares. The Council may prescribe rules by which members may subscribe to additional shares of the authorized capital stock.
Bretton Woods and Related Agreements Act — B-7 (i)
The initial subscription of each member shall be paid as follows: (i) Within ninety days from the date on which this Convention enters into force with respect to such member, ten percent of the price of each share shall be paid in cash as stipulated in Section (a) of Article 8 and an additional ten percent in the form of non-negotiable, non-interest-bearing promissory notes or similar obligations to be encashed pursuant to a decision of the Board in order to meet the Agency’s obligations. (ii) The remainder shall be subject to call by the Agency when required to meet its obligations.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) Within ninety days from the date on which this Convention enters into force with respect to such member, ten percent of the price of each share shall be paid in cash as stipulated in Section (a) of Article 8 and an additional ten percent in the form of non-negotiable, non-interest-bearing promissory notes or similar obligations to be encashed pursuant to a decision of the Board in order to meet the Agency’s obligations.
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) The remainder shall be subject to call by the Agency when required to meet its obligations.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) Payments of subscriptions shall be made in freely usable currencies except that payments by developing member countries may be made in their own currencies up to twenty-five percent of the paid-in cash portion of their subscriptions payable under Article 7(i).
Bretton Woods and Related Agreements Act — B-7 (b)
(b) Calls on any portion of unpaid subscriptions shall be uniform on all shares.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) If the amount received by the Agency on a call shall be insufficient to meet the obligations which have necessitated the call, the Agency may make further successive calls on unpaid subscriptions until the aggregate amount received by it shall be sufficient to meet such obligations.
Bretton Woods and Related Agreements Act — B-7 (d)
(d) Liability on shares shall be limited to the unpaid portion of the issue price.
Bretton Woods and Related Agreements Act — B-7
Whenever it shall be necessary for the purposes of this Convention to determine the value of one currency in terms of another, such value shall be as reasonably determined by the Agency, after consultation with the International Monetary Fund.
Bretton Woods and Related Agreements Act — B-7 (a)
(a) The Agency shall, as soon as practicable, return to members amounts paid on calls on subscribed capital if and to the extent that: (i) the call shall have been made to pay a claim resulting from a guarantee or reinsurance contract and thereafter the Agency shall have recovered its payment, in whole or in part, in a freely usable currency; or (ii) the call shall have been made because of a default in payment by a member and thereafter such member shall have made good such default in whole or in part; or (iii) the Council, by special majority, determines that the financial position of the Agency permits all or part of such amounts to be returned out of the Agency’s revenues.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) the call shall have been made to pay a claim resulting from a guarantee or reinsurance contract and thereafter the Agency shall have recovered its payment, in whole or in part, in a freely usable currency; or
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) the call shall have been made because of a default in payment by a member and thereafter such member shall have made good such default in whole or in part; or
Bretton Woods and Related Agreements Act — B-7 (iii)
(iii) the Council, by special majority, determines that the financial position of the Agency permits all or part of such amounts to be returned out of the Agency’s revenues.
Bretton Woods and Related Agreements Act — B-7 (b)
(b) Any refund effected under this Article to a member shall be made in freely usable currency in the proportion of the payments made by that member to the total amount paid pursuant to calls made prior to such refund.
Bretton Woods and Related Agreements Act — B-7 (c)
(c) The equivalent of amounts refunded under this Article to a member shall become part of the callable capital obligations of the member under Article 7(ii).
Bretton Woods and Related Agreements Act — B-7 (a)
(a) Subject to the provisions of Sections (b) and (c) below, the Agency may guarantee eligible investments against a loss resulting from one or more of the following types of risk: (i) Currency Transfer any introduction attributable to the host government of restrictions on the transfer outside the host country of its currency into a freely usable currency or another currency acceptable to the holder of the guarantee, including a failure of the host government to act within a reasonable period of time on an application by such holder for such transfer; (ii) Expropriation and Similar Measures any legislative action or administrative action or omission attributable to the host government which has the effect of depriving the holder of a guarantee of his ownership or control of, or a substantial benefit from, his investment, with the exception of non-discriminatory measures of general application which governments normally take for the purpose of regulating economic activity in their territories; (iii) Breach of Contract any repudiation or breach by the host government of a contract with the holder of a guarantee, when (a) the holder of a guarantee does not have recourse to a judicial or arbitral forum to determine the claim of repudiation or breach, or (b) a decision by such forum is not rendered within such reasonable period of time as shall be prescribed in the contracts of guarantee pursuant to the Agency’s regulations, or (c) such a decision cannot be enforced; and (iv) War and Civil Disturbance any military action or civil disturbance in any territory of the host country to which this Convention shall be applicable as provided in Article 66.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) Currency Transfer any introduction attributable to the host government of restrictions on the transfer outside the host country of its currency into a freely usable currency or another currency acceptable to the holder of the guarantee, including a failure of the host government to act within a reasonable period of time on an application by such holder for such transfer;
Bretton Woods and Related Agreements Act — B-7
any introduction attributable to the host government of restrictions on the transfer outside the host country of its currency into a freely usable currency or another currency acceptable to the holder of the guarantee, including a failure of the host government to act within a reasonable period of time on an application by such holder for such transfer;