GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The term “Special Funds resources” shall refer to the resources of any Special Fund and shall include: (i) funds accepted by the Bank for inclusion in any Special Fund; (ii) funds received in respect of loans or guarantees, and the proceeds of any equity investments, financed from the resources of any Special Fund which, under the rules and regulations of the Bank governing that Special Fund, are received by such Special Fund; (iii) income derived from investment of Special Funds resources; and (iv) any other resources placed at the disposal of any Special Fund.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) funds accepted by the Bank for inclusion in any Special Fund;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) funds received in respect of loans or guarantees, and the proceeds of any equity investments, financed from the resources of any Special Fund which, under the rules and regulations of the Bank governing that Special Fund, are received by such Special Fund;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) income derived from investment of Special Funds resources; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) any other resources placed at the disposal of any Special Fund.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Board of Governors shall determine at least annually what part of the net income of the Bank shall be allocated, after making provision for reserves, to retained earnings or other purposes and what part, if any, shall be distributed to the members. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a Super Majority vote as provided in Article 28.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The distribution referred to in the preceding paragraph shall be made in proportion to the number of shares held by each member, and payments shall be made in such manner and in such currency as the Board of Governors shall determine.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 Members shall not impose any restrictions on currencies, including the receipt, holding, use or transfer by the Bank or by any recipient from the Bank, for payments in any country.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Whenever it shall become necessary under this Agreement to value any currency in terms of another or determine whether any currency is convertible, such valuation or determination shall be made by the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 In the Bank’s ordinary operations, in cases of arrears or default on loans made, participated in, or guaranteed by the Bank, and in cases of losses on equity investment or other types of financing under sub-paragraph 2 (vi) of Article 11, the Bank shall take such action as it deems appropriate. The Bank shall maintain appropriate provisions against possible losses.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Losses arising in the Bank’s ordinary operations shall be charged: (i) first, to the provisions referred to in paragraph 1 above; (ii) second, to net income; (iii) third, against reserves and retained earnings; (iv) fourth, against unimpaired paid-in capital; and (v) last, against an appropriate amount of the uncalled subscribed callable capital which shall be called in accordance with the provisions of paragraph 3 of Article 6.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) first, to the provisions referred to in paragraph 1 above;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) third, against reserves and retained earnings;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) fourth, against unimpaired paid-in capital; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (v)
(v) last, against an appropriate amount of the uncalled subscribed callable capital which shall be called in accordance with the provisions of paragraph 3 of Article 6.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 Each member shall be represented on the Board of Governors and shall appoint one Governor and one Alternate Governor. Each Governor and Alternate Governor shall serve at the pleasure of the appointing member. No Alternate Governor may vote except in the absence of his principal.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 Governors and Alternate Governors shall serve as such without remuneration from the Bank, but the Bank may pay them reasonable expenses incurred in attending meetings.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 All the powers of the Bank shall be vested in the Board of Governors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The Board of Governors may delegate to the Board of Directors any or all 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) elect the Directors of the Bank and determine the expenses to be paid for Directors and Alternate Directors and remuneration, if any, pursuant to paragraph 6 of Article 25; (vi) elect the President, suspend or remove him from office, and determine his remuneration and other conditions of service; (vii) approve, after reviewing the auditors’ report, the general balance sheet and the statement of profit and loss of the Bank; (viii) determine the reserves and the allocation and distribution of the net profits of the Bank; (ix) amend this Agreement; (x) decide to terminate the operations of the Bank and to distribute its assets; and (xi) exercise such other powers as are expressly assigned to the Board of Governors in this Agreement.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) admit new members and determine the conditions of their admission;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) increase or decrease the authorized capital stock of the Bank;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) decide appeals from interpretations or applications of this Agreement given by the Board of Directors;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (v)
(v) elect the Directors of the Bank and determine the expenses to be paid for Directors and Alternate Directors and remuneration, if any, pursuant to paragraph 6 of Article 25;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (vi)
(vi) elect the President, suspend or remove him from office, and determine his remuneration and other conditions of service;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (vii)
(vii) approve, after reviewing the auditors’ report, the general balance sheet and the statement of profit and loss of the Bank;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (viii)
(viii) determine the reserves and the allocation and distribution of the net profits of the Bank;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (x)
(x) decide to terminate the operations of the Bank and to distribute its assets; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (xi)
(xi) exercise such other powers as are expressly assigned to the Board of Governors in this Agreement.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The Board of Governors shall retain full power to exercise authority over any matter delegated to the Board of Directors under paragraph 2 of this Article.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Board of Governors shall hold an annual meeting and such other meetings as may be provided for by the Board of Governors or called by the Board of Directors. Meetings of the Board of Governors shall be called by the Board of Directors whenever requested by five (5) members of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 A majority 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The Board of Governors shall by regulation establish procedures whereby the Board of Directors may obtain a vote of the Governors on a specific question without a meeting and provide for electronic meetings of the Board of Governors in special circumstances.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The Board of Governors, and the Board of Directors to the extent authorized, may establish such subsidiary entities, and adopt such rules and regulations, as may be necessary or appropriate to conduct the business of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Board of Directors shall be composed of twelve (12) members who shall not be members of the Board of Governors, and of whom: (i) nine (9) shall be elected by the Governors representing regional members; and (ii) three (3) shall be elected by the Governors representing non-regional members. Directors shall be persons of high competence in economic and financial matters and shall be elected in accordance with Schedule B. Directors shall represent members whose Governors have elected them as well as members whose Governors assign their votes to them.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) nine (9) shall be elected by the Governors representing regional members; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) three (3) shall be elected by the Governors representing non-regional members.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
Directors shall be persons of high competence in economic and financial matters and shall be elected in accordance with Schedule B. Directors shall represent members whose Governors have elected them as well as members whose Governors assign their votes to them.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The Board of Governors shall, from time to time, review the size and composition of the Board of Directors, and may increase or decrease the size or revise the composition as appropriate, by a Super Majority vote as provided in Article 28.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 Each Director shall appoint an Alternate Director with full power to act for him when he is not present. The Board of Governors shall adopt rules enabling a Director elected by more than a specified number of members to appoint an additional Alternate Director.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 Directors and Alternate Directors shall be nationals of member countries. No two or more Directors may be of the same nationality nor may any two or more Alternate Directors be of the same nationality. Alternate Directors may participate in meetings of the Board but may vote only when the Alternate Director is acting in place of the Director.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 5
5 Directors shall hold office for a term of two (2) years and may be re-elected: (a) Directors shall continue in office until their successors shall have been chosen and assumed office. (b) If the office of a Director becomes vacant more than one hundred and eighty (180) days before the end of his term, a successor shall be chosen in accordance with Schedule 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. The Governors who elected a Director may similarly choose a successor if the office of a Director becomes vacant one hundred and eighty (180) days or less before the end of his term. (c) While the office of a Director remains vacant, an Alternate Director of the former Director shall exercise the powers of the latter, except that of appointing an Alternate Director.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (a)
(a) Directors shall continue in office until their successors shall have been chosen and assumed office.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (b)
(b) If the office of a Director becomes vacant more than one hundred and eighty (180) days before the end of his term, a successor shall be chosen in accordance with Schedule 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. The Governors who elected a Director may similarly choose a successor if the office of a Director becomes vacant one hundred and eighty (180) days or less before the end of his term.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (c)
(c) While the office of a Director remains vacant, an Alternate Director of the former Director shall exercise the powers of the latter, except that of appointing an Alternate Director.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 6
6 Directors and Alternate Directors shall serve without remuneration from the Bank, unless the Board of Governors shall decide otherwise, but the Bank may pay them reasonable expenses incurred in attending meetings.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
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) establish the policies of the Bank, and, by a majority representing not less than three-fourths of the total voting power of the members, take decisions on major operational and financial policies and on delegation of authority to the President under Bank policies; (iii) take decisions concerning operations of the Bank under paragraph 2 of Article 11, and, by a majority representing not less than three-fourths of the total voting power of the members, decide on the delegation of such authority to the President; (iv) supervise the management and the operation of the Bank on a regular basis, and establish an oversight mechanism for that purpose, in line with principles of transparency, openness, independence and accountability; (v) approve the strategy, annual plan and budget of the Bank; (vi) appoint such committees as deemed advisable; and (vii) submit the audited accounts for each financial year for approval of the Board of Governors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) prepare the work of the Board of Governors;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) establish the policies of the Bank, and, by a majority representing not less than three-fourths of the total voting power of the members, take decisions on major operational and financial policies and on delegation of authority to the President under Bank policies;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) take decisions concerning operations of the Bank under paragraph 2 of Article 11, and, by a majority representing not less than three-fourths of the total voting power of the members, decide on the delegation of such authority to the President;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) supervise the management and the operation of the Bank on a regular basis, and establish an oversight mechanism for that purpose, in line with principles of transparency, openness, independence and accountability;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (v)
(v) approve the strategy, annual plan and budget of the Bank;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (vi)
(vi) appoint such committees as deemed advisable; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (vii)
(vii) submit the audited accounts for each financial year for approval of the Board of Governors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Board of Directors shall meet as often as the business of the Bank may require, periodically throughout the year. The Board of Directors shall function on a non-resident basis except as otherwise decided by the Board of Governors by a Super Majority vote as provided in Article 28. Meetings may be called by the Chairman or whenever requested by three (3) Directors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The Board of Directors shall establish procedures whereby the Board can hold an electronic meeting or vote on a matter without holding a meeting.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The total voting power of each member shall consist of the sum of its basic votes, share votes and, in the case of a Founding Member, its Founding Member votes. (i) The basic votes of each member shall be the number of votes that results from the equal distribution among all the members of twelve (12) per cent of the aggregate sum of the basic votes, share votes and Founding Member votes of all the members. (ii) The number of the share votes of each member shall be equal to the number of shares of the capital stock of the Bank held by that member. (iii) Each Founding Member shall be allocated six hundred (600) Founding Member votes. In the event a member fails to pay any part of the amount due in respect of its obligations in relation to paid-in shares under Article 6, the number of share votes to be exercised by the member shall, as long as such failure continues, be reduced proportionately, by the percentage which the amount due and unpaid represents of the total par value of paid-in shares subscribed to by that member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) The basic votes of each member shall be the number of votes that results from the equal distribution among all the members of twelve (12) per cent of the aggregate sum of the basic votes, share votes and Founding Member votes of all the members.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) The number of the share votes of each member shall be equal to the number of shares of the capital stock of the Bank held by that member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) Each Founding Member shall be allocated six hundred (600) Founding Member votes.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
In the event a member fails to pay any part of the amount due in respect of its obligations in relation to paid-in shares under Article 6, the number of share votes to be exercised by the member shall, as long as such failure continues, be reduced proportionately, by the percentage which the amount due and unpaid represents of the total par value of paid-in shares subscribed to by that member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 In voting in the Board of Governors, each Governor shall be entitled to cast the votes of the member he represents. (i) Except as otherwise expressly provided in this Agreement, all matters before the Board of Governors shall be decided by a majority of the votes cast. (ii) A Super Majority vote of the Board of Governors shall require an affirmative vote of two-thirds of the total number of Governors, representing not less than three-fourths of the total voting power of the members. (iii) A Special Majority vote of the Board of Governors shall require an affirmative vote of a majority of the total number of Governors, representing not less than a majority of the total voting power of the members.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) Except as otherwise expressly provided in this Agreement, all matters before the Board of Governors shall be decided by a majority of the votes cast.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) A Super Majority vote of the Board of Governors shall require an affirmative vote of two-thirds of the total number of Governors, representing not less than three-fourths of the total voting power of the members.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) A Special Majority vote of the Board of Governors shall require an affirmative vote of a majority of the total number of Governors, representing not less than a majority of the total voting power of the members.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 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 elected him are entitled and those to which any Governors who have assigned their votes to him, pursuant to Schedule B, are entitled. (i) A Director entitled to cast the votes of more than one member may cast the votes for those members separately. (ii) Except as otherwise expressly provided in this Agreement, all matters before the Board of Directors shall be decided by a majority of the votes cast.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) A Director entitled to cast the votes of more than one member may cast the votes for those members separately.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) Except as otherwise expressly provided in this Agreement, all matters before the Board of Directors shall be decided by a majority of the votes cast.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Board of Governors, through an open, transparent and merit-based process, shall elect a president of the Bank by a Super Majority vote as provided in Article 28. He shall be a national of a regional member country. The President, while holding office, shall not be a Governor or a Director or an Alternate for either.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The term of office of the President shall be five (5) years. He may be re-elected once. The President may be suspended or removed from office when the Board of Governors so decides by a Super Majority vote as provided in Article 28. (a) If the office of the President for any reason becomes vacant during his term, the Board of Governors shall appoint an Acting President for a temporary period or elect a new President, in accordance with paragraph 1 of this Article.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (a)
(a) If the office of the President for any reason becomes vacant during his term, the Board of Governors shall appoint an Acting President for a temporary period or elect a new President, in accordance with paragraph 1 of this Article.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The President shall be Chairman of the Board of Directors but shall have no vote, except a deciding vote in case of an equal division. He may participate in meetings of the Board of Governors but shall not vote.