GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Bank shall not accept Special Funds or other loans or assistance that may in any way prejudice, deflect or otherwise alter its purpose or functions.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 The Bank, its President, Vice-President(s), officers and staff shall in their decisions take into account only considerations relevant to the Bank’s purpose, functions and operations, as set out in this Agreement. Such considerations shall be weighed impartially in order to achieve and carry out the purpose and functions of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 The President, Vice-President(s), officers and staff of the Bank, in the discharge of their offices, shall owe their duty entirely to the Bank and to no other authority. Each member of the Bank shall respect the international character of this duty and shall refrain from all attempts to influence any of them in the discharge of their duties.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The principal office of the Bank shall be located in London.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 The Bank may establish agencies or branch offices in the territory of any member of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 Each member shall designate its central bank, or such other institution as may be agreed upon with the Bank, as a depository for all the Bank’s holdings of its currency as well as other assets of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Each member shall designate an appropriate official entity with which the Bank may communicate in connection with any matter arising under this Agreement.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Bank shall publish an annual report containing an audited statement of its accounts and shall circulate to members at intervals of three (3) months or less a summary statement of its financial position and a profit and loss statement showing the results of its operations. The financial accounts shall be kept in ECU.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 The Bank shall report annually on the environmental impact of its activities and may publish such other reports as it deems desirable to advance its purpose.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 Copies of all reports, statements and publications made under this Article shall be distributed to members.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 The Board of Governors shall determine at least annually what part of the Bank’s net income, after making provision for reserves and, if necessary, against possible losses under paragraph 1 of Article 17 of this Agreement, shall be allocated to surplus or other purposes and what part, if any, shall be distributed. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a majority of not less than two thirds of the Governors, representing not less than two thirds of the total voting power of the members. No such allocation, and no distributions, shall be made until the general reserve amounts to at least ten (10) per cent of the authorized capital stock.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Any distribution referred to in the preceding paragraph shall be made in proportion to the number of paid-in shares held by each member; provided that in calculating such number account shall be taken only of payments received in cash and promissory notes encashed in respect of such shares on or before the end of the relevant financial year.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 Payments to each member shall be made in such manner as the Board of Governors shall determine. Such payments and their use by the receiving country shall be without restriction by any member.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 Any member may withdraw from the Bank at any time by transmitting a notice in writing to the Bank at its principal office.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Withdrawal by a member shall become effective, and its membership shall cease, on the date specified in its notice but in no event less than six (6) months after such notice is received by the Bank. However, at any time before the withdrawal becomes finally effective, the member may notify the Bank in writing of the cancellation of its notice of intention to withdraw.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 If a member fails to fulfil any of its obligations to the Bank, the Bank may suspend its membership by decision of a majority of not less than two thirds of the total voting power of the members. The member so suspended shall automatically cease to be a member one year from the date of its suspension unless a decision is taken by not less than the same majority to restore the member to good standing.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 While under suspension, a member shall not be entitled to exercise any rights under this Agreement, except the right of withdrawal, but shall remain subject to all its obligations.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 After the date on which a member ceases to be a member, such former member shall remain liable for its direct obligations to the Bank and for its contingent liabilities to the Bank so long as any part of the loans, equity investments or guarantees contracted before it ceased to be a member are outstanding; but it shall cease to incur such liabilities with respect to loans, equity investments and guarantees entered into thereafter by the Bank and to share either in the income or the expenses of the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 At the time a member ceases to be a member, the Bank shall arrange for the repurchase of such former member’s shares as a part of the settlement of accounts with such former member in accordance with the provisions of this Article. For this purpose, the repurchase price of the shares shall be the value shown by the books of the Bank on the date of cessation of membership, with the original purchase price of each share being its maximum value.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 The payment for shares repurchased by the Bank under this Article shall be governed by the following conditions: (i) any amount due to the former member for its shares shall be withheld so long as the former member, its central bank or any of its agencies or instrumentalities remains liable, as borrower or guarantor, to the Bank and such amount may, at the option of the Bank, be applied on any such liability as it matures. No amount shall be withheld on account of the liability of the former member resulting from its subscription for shares in accordance with paragraphs 4, 5 and 7 of Article 6 of this Agreement. In any event, no amount due to a member for its shares shall be paid until six (6) months after the date upon which the member ceases to be a member; (ii) payments for shares may be made from time to time, upon their surrender by the former member, to the extent by which the amount due as the repurchase price in accordance with paragraph 2 of this Article exceeds the aggregate amount of liabilities on loans, equity investments and guarantees in subparagraph (i) of this paragraph until the former member has received the full repurchase price; (iii) payments shall be made on such conditions and in such fully convertible currencies, or ECU, and on such dates, as the Bank determines; and (iv) if losses are sustained by the Bank on any guarantees, participations in loans, or loans which were outstanding on the date when the member ceased to be a member, or if a net loss is sustained by the Bank on equity investments held by it on such date, and the amount of such losses exceeds the amount of the reserves provided against losses on the date when the member ceased to be a member, such former member shall repay, upon demand, the amount by which the repurchase price of its shares would have been reduced if the losses had been taken into account when the repurchase price was determined. In addition, the former member shall remain liable on any call for unpaid subscriptions under paragraph 4 of Article 6 of this Agreement, to the extent that it would have been required to respond if the impairment of capital had occurred and the call had been made at the time the repurchase price of its shares was determined.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) any amount due to the former member for its shares shall be withheld so long as the former member, its central bank or any of its agencies or instrumentalities remains liable, as borrower or guarantor, to the Bank and such amount may, at the option of the Bank, be applied on any such liability as it matures. No amount shall be withheld on account of the liability of the former member resulting from its subscription for shares in accordance with paragraphs 4, 5 and 7 of Article 6 of this Agreement. In any event, no amount due to a member for its shares shall be paid until six (6) months after the date upon which the member ceases to be a member;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) payments for shares may be made from time to time, upon their surrender by the former member, to the extent by which the amount due as the repurchase price in accordance with paragraph 2 of this Article exceeds the aggregate amount of liabilities on loans, equity investments and guarantees in subparagraph (i) of this paragraph until the former member has received the full repurchase price;
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iii)
(iii) payments shall be made on such conditions and in such fully convertible currencies, or ECU, and on such dates, as the Bank determines; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (iv)
(iv) if losses are sustained by the Bank on any guarantees, participations in loans, or loans which were outstanding on the date when the member ceased to be a member, or if a net loss is sustained by the Bank on equity investments held by it on such date, and the amount of such losses exceeds the amount of the reserves provided against losses on the date when the member ceased to be a member, such former member shall repay, upon demand, the amount by which the repurchase price of its shares would have been reduced if the losses had been taken into account when the repurchase price was determined. In addition, the former member shall remain liable on any call for unpaid subscriptions under paragraph 4 of Article 6 of this Agreement, to the extent that it would have been required to respond if the impairment of capital had occurred and the call had been made at the time the repurchase price of its shares was determined.
European Bank for Reconstruction and Development Agreement Act — E-13.5 4
4 If the Bank terminates its operations pursuant to Article 41 of this Agreement within six (6) months of the date upon which any member ceases to be a member, all rights of such former member shall be determined in accordance with the provisions of Articles 41 to 43 of this Agreement.
European Bank for Reconstruction and Development Agreement Act — E-13.5
In an emergency, the Board of Directors may suspend temporarily operations in respect of new loans, guarantees, underwriting, technical assistance and equity investments pending an opportunity for further consideration and action by the Board of Governors.
European Bank for Reconstruction and Development Agreement Act — E-13.5
The Bank may terminate its operations by the 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. Upon such termination of operations the Bank shall forthwith cease all activities, except those incident to the orderly realization, conservation and preservation of its assets and settlement of its obligations.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 In the event of termination of the operations of the Bank, the liability of all members for uncalled subscriptions to the capital stock of the Bank shall continue until all claims of creditors, including all contingent claims, shall have been discharged.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Creditors on ordinary operations holding direct claims shall be paid first out of the assets of the Bank, secondly out of the payments to be made to the Bank in respect of unpaid paid-in shares, and then out of payments to be made to the Bank in respect of callable capital stock. Before making any payments to creditors holding direct claims, the Board of Directors shall make such arrangements as are necessary, in its judgment, to ensure a pro rata distribution among holders of direct and holders of contingent claims.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 No distribution under this Chapter shall be made to members on account of their subscriptions to the capital stock of the Bank until: (i) all liabilities to creditors have been discharged or provided for; and (ii) the Board of Governors has decided by a vote of not less than two thirds of the Governors, representing not less than three fourths of the total voting power of the members, to make a distribution.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) all liabilities to creditors have been discharged or provided for; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) the Board of Governors has decided by a vote of not less than two thirds of the Governors, representing not less than three fourths of the total voting power of the members, to make a distribution.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 Any distribution of the assets of the Bank to the members shall be in proportion to the capital stock held by each member and shall be effected at such times and under such conditions as the Bank shall deem fair and equitable. The shares of assets distributed need not be uniform as to type of assets. No member shall be entitled to receive its share in such a distribution of assets until it has settled all of its obligations to the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 Any member receiving assets distributed pursuant to this Article shall enjoy the same rights with respect to such assets as the Bank enjoyed prior to their distribution.
European Bank for Reconstruction and Development Agreement Act — E-13.5
To enable the Bank to fulfil its purpose and the functions with which it is entrusted, the status, immunities, privileges and exemptions set forth in this Chapter shall be accorded to the Bank in the territory of each member country.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
The Bank shall possess full legal personality and, in particular, the full legal capacity: (i) to contract; (ii) to acquire, and dispose of, immovable and movable property; and (iii) to institute legal proceedings.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) to acquire, and dispose of, immovable and movable property; and
European Bank for Reconstruction and Development Agreement Act — E-13.5
Actions may be brought against the Bank only in a court of competent jurisdiction in the territory of a country in which the Bank has an office, has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities. No actions shall, however, be brought by members or persons acting for or deriving claims from members. The property and assets of the Bank shall, wheresoever located and by whomsoever held, be immune from all forms of seizure, attachment or execution before the delivery of final judgment against the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5
Property and assets of the Bank, wheresoever located and by whomsoever held, shall be immune from search, requisition, confiscation, expropriation or any other form of taking or foreclosure by executive or legislative action.
European Bank for Reconstruction and Development Agreement Act — E-13.5
The archives of the Bank, and in general all documents belonging to it or held by it, shall be inviolable.
European Bank for Reconstruction and Development Agreement Act — E-13.5
To the extent necessary to carry out the purpose and functions of the Bank and subject to the provisions of this Agreement, all property and assets of the Bank shall be free from restrictions, regulations, controls and moratoria of any nature.
European Bank for Reconstruction and Development Agreement Act — E-13.5
The official communications of the Bank shall be accorded by each member the same treatment that it accords to the official communications of any other member.
European Bank for Reconstruction and Development Agreement Act — E-13.5
All Governors, Directors, Alternates, officers and employees of the Bank and experts performing missions for the Bank shall be immune from legal process with respect to acts performed by them in their official capacity except when the Bank waives this immunity, and shall enjoy inviolability of all their official papers and documents. This immunity shall not apply, however, to civil liability in the case of damage arising from a road traffic accident caused by any such Governor, Director, Alternate, officer, employee or expert.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 All Governors, Directors, Alternates, officers and employees of the Bank and experts of the Bank performing missions for the Bank: (i) not being local nationals, shall be accorded the same immunities from immigration restrictions, alien registration requirements and national service obligations, and the same facilities as regards exchange regulations, as are accorded by members to the representatives, officials, and employees of comparable rank of other members; and (ii) shall be granted the same treatment in respect of travelling facilities as is accorded by members to representatives, officials and employees of comparable rank of other members.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) not being local nationals, shall be accorded the same immunities from immigration restrictions, alien registration requirements and national service obligations, and the same facilities as regards exchange regulations, as are accorded by members to the representatives, officials, and employees of comparable rank of other members; and
European Bank for Reconstruction and Development Agreement Act — E-13.5 (ii)
(ii) shall be granted the same treatment in respect of travelling facilities as is accorded by members to representatives, officials and employees of comparable rank of other members.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 The spouses and immediate dependants of those Directors, Alternate Directors, officers, employees and experts of the Bank who are resident in the country in which the principal office of the Bank is located shall be accorded opportunity to take employment in that country. The spouses and immediate dependants of those Directors, Alternate Directors, officers, employees and experts of the Bank who are resident in a country in which any agency or branch office of the Bank is located should, wherever possible, in accordance with the national law of that country, be accorded similar opportunity in that country. The Bank shall negotiate specific agreements implementing the provisions of this paragraph with the country in which the principal office of the Bank is located and, as appropriate, with the other countries concerned.
European Bank for Reconstruction and Development Agreement Act — E-13.5 1
1 Within the scope of its official activities the Bank, its assets, property, and income shall be exempt from all direct taxes.
European Bank for Reconstruction and Development Agreement Act — E-13.5 2
2 When purchases or services of substantial value and necessary for the exercise of the official activities of the Bank are made or used by the Bank and when the price of such purchases or services includes taxes or duties, the member that has levied the taxes or duties shall, if they are identifiable, take appropriate measures to grant exemption from such taxes or duties or to provide for their reimbursement.
European Bank for Reconstruction and Development Agreement Act — E-13.5 3
3 Goods imported by the Bank and necessary for the exercise of its official activities shall be exempt from all import duties and taxes, and from all import prohibitions and restrictions. Similarly goods exported by the Bank and necessary for the exercise of its official activities shall be exempt from all export duties and taxes, and from all export prohibitions and restrictions.
European Bank for Reconstruction and Development Agreement Act — E-13.5 4
4 Goods acquired or imported and exempted under this Article shall not be sold, hired out, lent or given away against payment or free of charge, except in accordance with conditions laid down by the members which have granted exemptions or reimbursements.
European Bank for Reconstruction and Development Agreement Act — E-13.5 5
5 The provisions of this Article shall not apply to taxes or duties which are no more than charges for public utility services.
European Bank for Reconstruction and Development Agreement Act — E-13.5 6
6 Directors, Alternate Directors, officers and employees of the Bank shall be subject to an internal effective tax for the benefit of the Bank on salaries and emoluments paid by the Bank, subject to conditions to be laid down and rules to be adopted by the Board of Governors within a period of one year from the date of entry into force of this Agreement. From the date on which this tax is applied, such salaries and emoluments shall be exempt from national income tax. The members may, however, take into account the salaries and emoluments thus exempt when assessing the amount of tax to be applied to income from other sources.
European Bank for Reconstruction and Development Agreement Act — E-13.5 7
7 Notwithstanding the provisions of paragraph 6 of this Article, a member may deposit, with its instrument of ratification, acceptance or approval, a declaration that such member retains for itself, its political subdivisions or its local authorities the right to tax salaries and emoluments paid by the Bank to citizens or nationals of such member. The Bank shall be exempt from any obligation for the payment, withholding or collection of such taxes. The Bank shall not make any reimbursement for such taxes.
European Bank for Reconstruction and Development Agreement Act — E-13.5 8
8 Paragraph 6 of this Article shall not apply to pensions and annuities paid by the Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 9
9 No tax of any kind shall be levied on any obligation or security issued by the Bank, including any dividend or interest thereon, by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the Bank, 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 Bank.
European Bank for Reconstruction and Development Agreement Act — E-13.5 (i)
(i) which discriminates against such obligation or security solely because it is issued by the Bank, or