GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The President shall be the legal representative of the Bank. He shall be chief of the staff of the Bank and shall conduct, under the direction of the Board of Directors, the current business of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 One or more Vice-Presidents shall be appointed by the Board of Directors on the recommendation of the President, on the basis of an open, transparent and merit-based process. 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The President shall be responsible for the organization, appointment and dismissal of the officers and staff in accordance with regulations adopted by the Board of Directors, with the exception of Vice-Presidents to the extent provided in paragraph 1 above.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 In appointing officers and staff and recommending Vice-Presidents, the President shall, subject to the paramount importance of securing the highest standards of efficiency and technical competence, pay due regard to the recruitment of personnel on as wide a regional geographical basis as possible.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank shall not accept Special Funds, loans or assistance that may in any way prejudice, limit, deflect or otherwise alter its purpose or functions.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The Bank, its President, officers and staff shall not interfere in the political affairs of any member, nor shall they be influenced in their decisions by the political character of the member concerned. Only economic considerations shall be relevant to their decisions. Such considerations shall be weighed impartially in order to achieve and carry out the purpose and functions of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The President, officers and staff of the Bank, in the discharge of their offices, 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The principal office of the Bank shall be located in Beijing, People’s Republic of China.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The Bank may establish agencies or offices elsewhere.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 Each member shall designate an appropriate official entity with which the Bank may communicate in connection with any matter arising under this Agreement.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Each member shall designate its central bank, or such other institution as may be agreed upon with the Bank, as a depository with which the Bank may keep its holdings of currency of that member as well as other assets of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The Bank may hold its assets with such depositories as the Board of Directors shall determine.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The working language of the Bank shall be English, and the Bank shall rely on the English text of this Agreement for all decisions and for interpretations under Article 54.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Members shall furnish the Bank with such information it may reasonably request of them in order to facilitate the performance of its functions.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The Bank shall transmit to its members an annual report containing an audited statement of its accounts and shall publish such report. It shall also transmit quarterly to its members a summary statement of its financial position and a profit and loss statement showing the results of its operations.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The Bank shall establish a policy on the disclosure of information in order to promote transparency in its operations. The Bank may publish such reports as it deems desirable in the carrying out of its purpose and functions.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank shall work in close cooperation with all its members, and, in such manner as it may deem appropriate within the terms of this Agreement, with other international financial institutions, and international organizations concerned with the economic development of the region or the Bank’s operational areas.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The Bank may enter into arrangements with such organizations for purposes consistent with this Agreement, with the approval of the Board of Directors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 References in this Agreement to Article or Schedule refer to Articles and Schedules of this Agreement, unless otherwise specified.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 References in this Agreement to a specific gender shall be equally applicable to any gender.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 Any member may withdraw from the Bank at any time by delivering a notice in writing to the Bank at its principal office.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 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 the date that notice has been 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 A withdrawing member shall remain liable for all direct and contingent obligations to the Bank to which it was subject at the date of delivery of the withdrawal notice. If the withdrawal becomes finally effective, the member shall not incur any liability for obligations resulting from operations of the Bank effected after the date on which the withdrawal notice was received by the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 If a member fails to fulfill any of its obligations to the Bank, the Board of Governors may suspend such member by a Super Majority vote as provided in Article 28.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The member so suspended shall automatically cease to be a member one (1) year from the date of its suspension, unless the Board of Governors decides by a Super Majority vote as provided in Article 28 to restore the member to good standing.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 After the date on which a country ceases to be a member, it 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, guarantees, equity investments or other forms of financing under paragraph 2 (vi) of Article 11 (hereinafter, other financing) contracted before it ceased to be a member is outstanding, but it shall not incur liabilities with respect to loans, guarantees, equity investments or other financing entered into thereafter by the Bank nor share either in the income or the expenses of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 At the time a country ceases to be a member, the Bank shall arrange for the repurchase of such country’s shares by the Bank as a part of the settlement of accounts with such country in accordance with the provisions of paragraphs 3 and 4 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 the country ceases to be a member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 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 country concerned for its shares shall be withheld so long as that country, its central bank or any of its agencies, instrumentalities or political subdivisions remains liable, as borrower, guarantor or other contracting party with respect to equity investment or other financing, 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 contingent liability of the country for future calls on its subscription for shares in accordance with paragraph 3 of Article 6. In any event, no amount due to a member for its shares shall be paid until six (6) months after the date on which the country ceases to be a member. (ii) Payments for shares may be made from time to time, upon surrender of the corresponding stock certificates by the country concerned, 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, guarantees, equity investments and other financing referred to in sub-paragraph (i) of this paragraph, until the former member has received the full repurchase price. (iii) Payments shall be made in such available currencies as the Bank determines, taking into account its financial position. (iv) If losses are sustained by the Bank on any loans, guarantees, equity investments or other financing which were outstanding on the date when a country ceased to be a member and the amount of such losses exceeds the amount of the reserve provided against losses on that date, the country concerned 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 in accordance with paragraph 3 of Article 6, to the same 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) Any amount due to the country concerned for its shares shall be withheld so long as that country, its central bank or any of its agencies, instrumentalities or political subdivisions remains liable, as borrower, guarantor or other contracting party with respect to equity investment or other financing, 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 contingent liability of the country for future calls on its subscription for shares in accordance with paragraph 3 of Article 6. In any event, no amount due to a member for its shares shall be paid until six (6) months after the date on which the country ceases to be a member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) Payments for shares may be made from time to time, upon surrender of the corresponding stock certificates by the country concerned, 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, guarantees, equity investments and other financing referred to in sub-paragraph (i) of this paragraph, until the former member has received the full repurchase price.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) Payments shall be made in such available currencies as the Bank determines, taking into account its financial position.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) If losses are sustained by the Bank on any loans, guarantees, equity investments or other financing which were outstanding on the date when a country ceased to be a member and the amount of such losses exceeds the amount of the reserve provided against losses on that date, the country concerned 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 in accordance with paragraph 3 of Article 6, to the same 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 If the Bank terminates its operations pursuant to Article 41 within six (6) months of the date upon which any country ceases to be a member, all rights of the country concerned shall be determined in accordance with the provisions of Articles 41 to 43. Such country shall be considered as still a member for purposes of such Articles but shall have no voting rights.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
In an emergency, the Board of Directors may temporarily suspend operations in respect of new loans, guarantees, equity investment and other forms of financing under sub-paragraph 2 (vi) of Article 11, pending an opportunity for further consideration and action by the Board of Governors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank may terminate its operations by a resolution of the Board of Governors approved by a Super Majority vote as provided in Article 28.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 After such termination, 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 In the event of termination of the operation of the Bank, the liability of all members for uncalled subscriptions to the capital stock of the Bank and in respect of the depreciation of their currencies shall continue until all claims of creditors, including all contingent claims, shall have been discharged.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 All creditors holding direct claims shall first be paid out of the assets of the Bank and then out of payments to the Bank or unpaid or callable subscriptions. 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 contingent claims.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 No distribution of assets 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 Super Majority vote as provided in Article 28, to make such distribution.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) all liabilities to creditors have been discharged or provided for; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) the Board of Governors has decided, by a Super Majority vote as provided in Article 28, to make such distribution.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 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 asset. 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 To enable the Bank to fulfill its purpose and carry out the functions entrusted to it, the status, immunities, privileges and exemptions set forth in this Chapter shall be accorded to the Bank in the territory of each member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Each member shall promptly take such action as is necessary to make effective in its own territory the provisions set forth in this Chapter and shall inform the Bank of the action which it has taken.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
The Bank shall possess full juridical personality and, in particular, the full legal capacity: (i) to contract; (ii) to acquire, and dispose of, immovable and movable property; (iii) to institute and respond to legal proceedings; and (iv) to take such other action as may be necessary or useful for its purpose and activities.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) to acquire, and dispose of, immovable and movable property;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) to institute and respond to legal proceedings; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) to take such other action as may be necessary or useful for its purpose and activities.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank shall enjoy immunity from every form of legal process, except in cases arising out of or in connection with the exercise of its powers to raise funds, through borrowings or other means, to guarantee obligations, or to buy and sell or underwrite the sale of securities, in which cases 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, or has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Notwithstanding the provisions of paragraph 1 of this Article, no action shall be brought against the Bank by any member, or by any agency or instrumentality of a member, or by any entity or person directly or indirectly acting for or deriving claims from a member or from any agency or instrumentality of a member. Members shall have recourse to such special procedures for the settlement of controversies between the Bank and its members as may be prescribed in this Agreement, in the by-laws and regulations of the Bank, or in the contracts entered into with the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The archives of the Bank, and, in general, all documents belonging to it, or held by it, shall be inviolable, wheresoever located and by whomsoever held.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
To the extent necessary to carry out the purpose and functions of the Bank effectively, 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
All Governors, Directors, Alternates, the President, Vice-Presidents and other officers and employees of the Bank, including experts and consultants performing missions or services for the Bank: (i) shall be immune from legal process with respect to acts performed by them in their official capacity, except when the Bank waives the immunity and shall enjoy inviolability of all their official papers, documents and records; (ii) where they are not local citizens or 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 (iii) 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) shall be immune from legal process with respect to acts performed by them in their official capacity, except when the Bank waives the immunity and shall enjoy inviolability of all their official papers, documents and records;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) where they are not local citizens or 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
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank, its assets, property, income and its operations and transactions pursuant to this Agreement, shall be exempt from all taxation and from all customs duties. The Bank shall also be exempt from any obligation for the payment, withholding or collection of any tax or duty.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 No tax of any kind shall be levied on or in respect of salaries, emoluments and expenses, as the case may be, paid by the Bank to Directors, Alternate Directors, the President, Vice-Presidents and other officers or employees of the Bank, including experts and consultants performing missions or services for the Bank, except where a member deposits with its instrument of ratification, acceptance, or approval a declaration that such member retains for itself and its political subdivisions the right to tax salaries, and emoluments , as the case may be, paid by the Bank to citizens or nationals of such member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 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.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) which discriminates against such obligation or security solely because it is issued by the Bank; or