GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Bank shall have, in addition to the powers specified elsewhere in this Agreement, the power to: (i) borrow funds in member countries or elsewhere, provided always that: (a) before making a sale of its obligations in the territory of a country, the Bank shall have obtained its approval; and (b) where the obligations of the Bank are to be denominated in the currency of a member, the Bank shall have obtained its approval; (ii) invest or deposit funds not needed in its operations; (iii) buy and sell securities, in the secondary market, which the Bank has issued or guaranteed or in which it has invested; (iv) guarantee securities in which it has invested in order to facilitate their sale; (v) underwrite, or participate in the underwriting of, securities issued by any enterprise for purposes consistent with the purpose and functions of the Bank; (vi) provide technical advice and assistance which serve its purpose and come within its functions; (vii) exercise such other powers and adopt such rules and regulations as may be necessary or appropriate in furtherance of its purpose and functions, consistent with the provisions of this Agreement; and (viii) conclude agreements of cooperation with any public or private entity or entities.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) borrow funds in member countries or elsewhere, provided always that: (a) before making a sale of its obligations in the territory of a country, the Bank shall have obtained its approval; and (b) where the obligations of the Bank are to be denominated in the currency of a member, the Bank shall have obtained its approval;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (a)
(a) before making a sale of its obligations in the territory of a country, the Bank shall have obtained its approval; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (b)
(b) where the obligations of the Bank are to be denominated in the currency of a member, the Bank shall have obtained its approval;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) invest or deposit funds not needed in its operations;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iii)
(iii) buy and sell securities, in the secondary market, which the Bank has issued or guaranteed or in which it has invested;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iv)
(iv) guarantee securities in which it has invested in order to facilitate their sale;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (v)
(v) underwrite, or participate in the underwriting of, securities issued by any enterprise for purposes consistent with the purpose and functions of the Bank;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (vi)
(vi) provide technical advice and assistance which serve its purpose and come within its functions;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (vii)
(vii) exercise such other powers and adopt such rules and regulations as may be necessary or appropriate in furtherance of its purpose and functions, consistent with the provisions of this Agreement; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (viii)
(viii) conclude agreements of cooperation with any public or private entity or entities.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Every security issued or guaranteed by the Bank shall bear on its face a conspicuous statement to the effect that it is not an obligation of any Government or member, unless it is in fact the obligation of a particular Government or member, in which case it shall so state.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 Whenever it shall become necessary under this Agreement to determine whether any currency is fully convertible for the purposes of this Agreement, such determination shall be made by the Bank, taking into account the paramount need to preserve its own financial interests, after consultation, if necessary, with the International Monetary Fund.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Members shall not impose any restrictions on the receipt, holding, use or transfer by the Bank of the following: (i) currencies or ECU received by the Bank in payment of subscriptions to its capital stock, in accordance with Article 6 of this Agreement; (ii) currencies obtained by the Bank by borrowing; (iii) currencies and other resources administered by the Bank as contributions to Special Funds; and (iv) currencies received by the Bank in payment on account of principal, interest, dividends or other charges in respect of loans or investments, or the proceeds of disposal of such investments made out of any of the funds referred to in subparagraphs (i) to (iii) of this paragraph, or in payment of commission, fees or other charges.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) currencies or ECU received by the Bank in payment of subscriptions to its capital stock, in accordance with Article 6 of this Agreement;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) currencies obtained by the Bank by borrowing;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iii)
(iii) currencies and other resources administered by the Bank as contributions to Special Funds; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iv)
(iv) currencies received by the Bank in payment on account of principal, interest, dividends or other charges in respect of loans or investments, or the proceeds of disposal of such investments made out of any of the funds referred to in subparagraphs (i) to (iii) of this paragraph, or in payment of commission, fees or other charges.
European Bank for Reconstruction and Development Agreement Act — E-13.5
The Bank shall have a Board of Governors, a Board of Directors, a President, one or more Vice-Presidents and such other officers and staff as may be considered necessary.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 Each member shall be represented on the Board of Governors and shall appoint one Governor and one Alternate. Each Governor and Alternate shall serve at the pleasure of the appointing member. No Alternate may vote except in the absence of his or her principal. At each of its annual meetings, the Board shall elect one of the Governors as Chairman who shall hold office until the election of the next Chairman.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Governors and Alternates shall serve as such without remuneration from the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 All the powers of the Bank shall be vested in the Board of Governors.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 The Board of Governors may delegate to the Board of Directors any or all of its powers, except the power to: (i) admit new members and determine the conditions of their admission; (ii) increase or decrease the authorized capital stock of the Bank; (iii) suspend a member; (iv) decide appeals from interpretations or applications of this Agreement given by the Board of Directors; (v) authorize the conclusion of general agreements for co-operation with other international organizations; (vi) elect the Directors and the President of the Bank; (vii) determine the remuneration of the Directors and Alternate Directors and the salary and other terms of the contract of service of the President; (viii) approve, after reviewing the auditors’ report, the general balance sheet and the statement of profit and loss of the Bank; (ix) determine the reserves and the allocation and distribution of the net profits of the Bank; (x) amend this Agreement; (xi) decide to terminate the operations of the Bank and to distribute its assets; and (xii) exercise such other powers as are expressly assigned to the Board of Governors in this Agreement.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) admit new members and determine the conditions of their admission;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) increase or decrease the authorized capital stock of the Bank;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iv)
(iv) decide appeals from interpretations or applications of this Agreement given by the Board of Directors;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (v)
(v) authorize the conclusion of general agreements for co-operation with other international organizations;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (vi)
(vi) elect the Directors and the President of the Bank;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (vii)
(vii) determine the remuneration of the Directors and Alternate Directors and the salary and other terms of the contract of service of the President;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (viii)
(viii) approve, after reviewing the auditors’ report, the general balance sheet and the statement of profit and loss of the Bank;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ix)
(ix) determine the reserves and the allocation and distribution of the net profits of the Bank;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (xi)
(xi) decide to terminate the operations of the Bank and to distribute its assets; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (xii)
(xii) exercise such other powers as are expressly assigned to the Board of Governors in this Agreement.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 The Board of Governors shall retain full power to exercise authority over any matter delegated or assigned to the Board of Directors under paragraph 2 of this Article, or elsewhere in this Agreement.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Board of Governors shall hold an annual meeting and such other meetings as may be provided for by the Board or called by the Board of Directors. Meetings of the Board of Governors shall be called, by the Board of Directors, whenever requested by not less than five (5) members of the Bank or members holding not less than one quarter of the total voting power of the members.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Two thirds of the Governors shall constitute a quorum for any meeting of the Board of Governors, provided such majority represents not less than two thirds of the total voting power of the members.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 The Board of Governors may by regulation establish a procedure whereby the Board of Directors may, when the latter deems such action advisable, obtain a vote of the Governors on a specific question without calling a meeting of the Board of Governors.
European Bank for Reconstruction and Development Agreement Act — E-13.5 4
4 The Board of Governors, and the Board of Directors to the extent authorized, may adopt such rules and regulations and establish such subsidiary bodies as may be necessary or appropriate to conduct the business of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Board of Directors shall be composed of twenty-three (23) members who shall not be members of the Board of Governors, and of whom: (i) Eleven (11) shall be elected by the Governors representing Belgium, Denmark, France, the Federal Republic of Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, the United Kingdom, the European Economic Community and the European Investment Bank; and (ii) Twelve (12) shall be elected by the Governors representing other members, of whom: (a) four (4), by the Governors representing those countries listed in Annex A as Central and Eastern European countries eligible for assistance from the Bank; (b) four (4), by the Governors representing those countries listed in Annex A as other European countries; (c) four (4), by the Governors representing those countries listed in Annex A as non-European countries. Directors, as well as representing members whose Governors have elected them, may also represent members who assign their votes to them.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) Eleven (11) shall be elected by the Governors representing Belgium, Denmark, France, the Federal Republic of Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, the United Kingdom, the European Economic Community and the European Investment Bank; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) Twelve (12) shall be elected by the Governors representing other members, of whom: (a) four (4), by the Governors representing those countries listed in Annex A as Central and Eastern European countries eligible for assistance from the Bank; (b) four (4), by the Governors representing those countries listed in Annex A as other European countries; (c) four (4), by the Governors representing those countries listed in Annex A as non-European countries.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (a)
(a) four (4), by the Governors representing those countries listed in Annex A as Central and Eastern European countries eligible for assistance from the Bank;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (b)
(b) four (4), by the Governors representing those countries listed in Annex A as other European countries;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (c)
(c) four (4), by the Governors representing those countries listed in Annex A as non-European countries.
European Bank for Reconstruction and Development Agreement Act — E-13.5
Directors, as well as representing members whose Governors have elected them, may also represent members who assign their votes to them.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Directors shall be persons of high competence in economic and financial matters and shall be elected in accordance with Annex B.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 The Board of Governors may increase or decrease the size, or revise the composition, of the Board of Directors, in order to take into account changes in the number of members of the Bank, by an affirmative vote of not less than two thirds of the Governors, representing not less than three fourths of the total voting power of the members. Without prejudice to the exercise of these powers for subsequent elections, the number and composition of the second Board of Directors shall be as set out in paragraph 1 of this Article.
European Bank for Reconstruction and Development Agreement Act — E-13.5 4
4 Each Director shall appoint an Alternate with full power to act for him or her when he or she is not present. Directors and Alternates shall be nationals of member countries. No member shall be represented by more than one Director. An Alternate may participate in meetings of the Board but may vote only when he or she is acting in place of his or her principal.
European Bank for Reconstruction and Development Agreement Act — E-13.5 5
5 Directors shall hold office for a term of three (3) years and may be reelected; provided that the first Board of Directors shall be elected by the Board of Governors at its inaugural meeting, and shall hold office until the next immediately following annual meeting of the Board of Governors or, if that Board shall so decide at that annual meeting, until its next subsequent annual meeting. They shall continue in office until their successors shall have been chosen and assumed office. If the office of a Director becomes vacant more than one hundred and eighty (180) days before the end of his or her term, a successor shall be chosen in accordance with Annex B, for the remainder of the term, by the Governors who elected the former Director. A majority of the votes cast by such Governors shall be required for such election. If the office of a Director becomes vacant one hundred and eighty (180) days or less before the end of his or her term, a successor may similarly be chosen for the remainder of the term, by the votes cast by such Governors who elected the former Director, in which election a majority of the votes cast by such Governors shall be required. While the office remains vacant, the Alternate of the former Director shall exercise the powers of the latter, except that of appointing an Alternate.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
Without prejudice to the powers of the Board of Governors as provided in Article 24 of this Agreement, the Board of Directors shall be responsible for the direction of the general operations of the Bank and, for this purpose, shall, in addition to the powers assigned to it expressly by this Agreement, exercise all the powers delegated to it by the Board of Governors, and in particular: (i) prepare the work of the Board of Governors; (ii) in conformity with the general directions of the Board of Governors, establish policies and take decisions concerning loans, guarantees, investments in equity capital, borrowing by the Bank, the furnishing of technical assistance, and other operations of the Bank; (iii) submit the audited accounts for each financial year for approval of the Board of Governors at each annual meeting; and (iv) approve the budget of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) prepare the work of the Board of Governors;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) in conformity with the general directions of the Board of Governors, establish policies and take decisions concerning loans, guarantees, investments in equity capital, borrowing by the Bank, the furnishing of technical assistance, and other operations of the Bank;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iii)
(iii) submit the audited accounts for each financial year for approval of the Board of Governors at each annual meeting; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Board of Directors shall normally function at the principal office of the Bank and shall meet as often as the business of the Bank may require.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 A majority of the Directors shall constitute a quorum for any meeting of the Board of Directors, provided such majority represents not less than two thirds of the total voting power of the members.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 The Board of Governors shall adopt regulations under which, if there is no Director of its nationality, a member may send a representative to attend, without right to vote, any meeting of the Board of Directors when a matter particularly affecting that member is under consideration.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The voting power of each member shall be equal to the number of its subscribed shares in the capital stock of the Bank. In the event of any member failing to pay any part of the amount due in respect of its obligations in relation to paid-in shares under Article 6 of this Agreement, such member shall be unable for so long as such failure continues to exercise that percentage of its voting power which corresponds to the percentage which the amount due but unpaid bears to the total amount of paid-in shares subscribed to by that member in the capital stock of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 In voting in the Board of Governors, each Governor shall be entitled to cast the votes of the member he or she represents. Except as otherwise expressly provided in this Agreement, all matters before the Board of Governors shall be decided by a majority of the voting power of the members voting.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 In voting in the Board of Directors each Director shall be entitled to cast the number of votes to which the Governors who have elected him or her are entitled and those to which any Governors who have assigned their votes to him or her, pursuant to Section D of Annex B, are entitled. A Director representing more than one member may cast separately the votes of the members he or she represents. Except as otherwise expressly provided in this Agreement, and except for general policy decisions in which cases such policy decisions shall be taken by a majority of not less than two thirds of the total voting power of the members voting, all matters before the Board of Directors shall be decided by a majority of the voting power of the members voting.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Board of Governors, by a vote of a majority of the total number of Governors, representing not less than a majority of the total voting power of the members, shall elect a President of the Bank. The President, while holding office, shall not be a Governor or a Director or an Alternate for either.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 The term of office of the President shall be four (4) years. He or she may be re-elected. He or she shall, however, cease to hold office when the Board of Governors so decides by an affirmative vote of not less than two thirds of the Governors, representing not less than two thirds of the total voting power of the members. If the office of the President for any reason becomes vacant, the Board of Governors, in accordance with the provisions of paragraph 1 of this Article, shall elect a successor for up to four (4) years.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 The President shall not vote, except that he or she may cast a deciding vote in case of an equal division. He or she may participate in meetings of the Board of Governors and shall chair the meetings of the Board of Directors.
European Bank for Reconstruction and Development Agreement Act — E-13.5 4
4 The President shall be the legal representative of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 5
5 The President shall be chief of the staff of the Bank. He or she shall be responsible for the organisation, appointment and dismissal of the officers and staff in accordance with regulations to be adopted by the Board of Directors. In appointing officers and staff, he or she shall, subject to the paramount importance of efficiency and technical competence, pay due regard to recruitment on a wide geographical basis among members of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 6
6 The President shall conduct, under the direction of the Board of Directors, the current business of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 One or more Vice-Presidents shall be appointed by the Board of Directors on the recommendation of the President. A Vice-President shall hold office for such term, exercise such authority and perform such functions in the administration of the Bank, as may be determined by the Board of Directors. In the absence or incapacity of the President, a Vice-President shall exercise the authority and perform the functions of the President.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 A Vice-President may participate in meetings of the Board of Directors but shall have no vote at such meetings, except that he or she may cast the deciding vote when acting in place of the President.