GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) The member shall advise the Bank at the time of subscription under paragraph 1 of this Article of the proportion of payments to be made in its own currency.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) Each payment of a member in its own currency under this paragraph 5 shall be in such amount as the Bank determines to be equivalent to the full value in terms of dollars of the portion of the subscription being paid. The initial payment shall be in such amount as the member considers appropriate hereunder but shall be subject to such adjustment, to be effected within ninety (90) days of the date on which such payment was due, as the Bank shall determine to be necessary to constitute the full dollar equivalent of such payment.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) Whenever in the opinion of the Bank, the foreign exchange value of a member’s currency has depreciated to a significant extent, that member shall pay to the Bank within a reasonable time an additional amount of its currency required to maintain the value of all such currency held by the Bank on account of its subscription.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) Whenever in the opinion of the Bank, the foreign exchange value of a member’s currency has appreciated to a significant extent, the Bank shall pay to that member within a reasonable time an amount of that currency required to adjust the value of all such currency held by the Bank on account of its subscription.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (v)
(v) The Bank may waive its rights to payment under sub-paragraph (iii) and the member may waive its rights to payment under sub-paragraph (iv).
Asian Infrastructure Investment Bank Agreement Act — A-12.8 6
6 The Bank shall accept from any member paying its subscription under sub-paragraph 5 (b) of this Article promissory notes or other obligations issued by the Government of the member, or by the depository designated by such member, in lieu of the amount to be paid in the currency of the member, provided such amount is not required by the Bank for the conduct of its operations. Such notes or obligations shall be non-negotiable, non-interest-bearing, and payable to the Bank at par value upon demand.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 Shares of stock initially subscribed by members shall be issued at par. Other shares shall be issued at par unless the Board of Governors by a Special Majority vote as provided in Article 28 decides in special circumstances to issue them on other terms.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Shares of stock shall not be pledged or encumbered in any manner whatsoever, and they shall be transferable only to the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The liability of the members on shares shall be limited to the unpaid portion of their issue price.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 No member shall be liable, by reason of its membership, for obligations of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
As used in this Agreement, the term “ordinary resources” of the Bank shall include the following: (i) authorized capital stock of the Bank, including both paid-in and callable shares, subscribed pursuant to Article 5; (ii) funds raised by the Bank by virtue of powers conferred by paragraph 1 of Article 16, to which the commitment to calls provided for in paragraph 3 of Article 6 is applicable; (iii) funds received in repayment of loans or guarantees made with the resources indicated in sub-paragraphs (i) and (ii) of this Article or as returns on equity investments and other types of financing approved under sub-paragraph 2 (vi) of Article 11 made with such resources; (iv) income derived from loans made from the aforementioned funds or from guarantees to which the commitment to calls set forth in paragraph 3 of Article 6 is applicable; and (v) any other funds or income received by the Bank which do not form part of its Special Funds resources referred to in Article 17 of this Agreement.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) authorized capital stock of the Bank, including both paid-in and callable shares, subscribed pursuant to Article 5;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) funds raised by the Bank by virtue of powers conferred by paragraph 1 of Article 16, to which the commitment to calls provided for in paragraph 3 of Article 6 is applicable;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) funds received in repayment of loans or guarantees made with the resources indicated in sub-paragraphs (i) and (ii) of this Article or as returns on equity investments and other types of financing approved under sub-paragraph 2 (vi) of Article 11 made with such resources;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) income derived from loans made from the aforementioned funds or from guarantees to which the commitment to calls set forth in paragraph 3 of Article 6 is applicable; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (v)
(v) any other funds or income received by the Bank which do not form part of its Special Funds resources referred to in Article 17 of this Agreement.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
The resources and facilities of the Bank shall be used exclusively to implement the purpose and functions set forth, respectively, in Articles 1 and 2, and in accordance with sound banking principles.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The operations of the Bank shall consist of: (i) ordinary operations financed from the ordinary resources of the Bank, referred to in Article 8; and (ii) special operations financed from the Special Funds resources referred to in Article 17. The two types of operations may separately finance elements of the same project or program.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) ordinary operations financed from the ordinary resources of the Bank, referred to in Article 8; and
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) special operations financed from the Special Funds resources referred to in Article 17.
Asian Infrastructure Investment Bank Agreement Act — A-12.8
The two types of operations may separately finance elements of the same project or program.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The ordinary resources and the Special Funds resources of the Bank shall at all times and in all respects be held, used, committed, invested or otherwise disposed of entirely separately from each other. The financial statements of the Bank shall show the ordinary operations and special operations separately.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The ordinary resources of the Bank shall, under no circumstances, be charged with, or used to discharge, losses or liabilities arising out of special operations or other activities for which Special Funds resources were originally used or committed.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 Expenses appertaining directly to ordinary operations shall be charged to the ordinary resources of the Bank. Expenses appertaining directly to special operations shall be charged to the Special Funds resources. Any other expenses shall be charged as the Bank shall determine.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1 (a)
1 (a) The Bank may provide or facilitate financing to any member, or any agency, instrumentality or political subdivision thereof, or any entity or enterprise operating in the territory of a member, as well as to international or regional agencies or entities concerned with economic development of the region. (b) The Bank may, in special circumstances, provide assistance to a recipient not listed in sub-paragraph (a) above only if the Board of Governors, by a Super Majority vote as provided in Article 28: (i) shall have determined that such assistance is designed to serve the purpose and come within the functions of the Bank and is in the interest of the Bank’s membership; and (ii) shall have specified the types of assistance under paragraph 2 of this Article that may be provided to such recipient.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (b)
(b) The Bank may, in special circumstances, provide assistance to a recipient not listed in sub-paragraph (a) above only if the Board of Governors, by a Super Majority vote as provided in Article 28: (i) shall have determined that such assistance is designed to serve the purpose and come within the functions of the Bank and is in the interest of the Bank’s membership; and (ii) shall have specified the types of assistance under paragraph 2 of this Article that may be provided to such recipient.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The Bank may carry out its operations in any of the following ways: (i) by making, co-financing or participating in direct loans; (ii) by investment of funds in the equity capital of an institution or enterprise; (iii) by guaranteeing, whether as primary or secondary obligor, in whole or in part, loans for economic development; (iv) by deploying Special Funds resources in accordance with the agreements determining their use; (v) by providing technical assistance in accordance with Article 15; or (vi) through other types of financing as may be determined by the Board of Governors, by a Special Majority vote as provided in Article 28.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (i)
(i) by making, co-financing or participating in direct loans;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (ii)
(ii) by investment of funds in the equity capital of an institution or enterprise;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iii)
(iii) by guaranteeing, whether as primary or secondary obligor, in whole or in part, loans for economic development;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (iv)
(iv) by deploying Special Funds resources in accordance with the agreements determining their use;
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (v)
(v) by providing technical assistance in accordance with Article 15; or
Asian Infrastructure Investment Bank Agreement Act — A-12.8 (vi)
(vi) through other types of financing as may be determined by the Board of Governors, by a Special Majority vote as provided in Article 28.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The total amount outstanding of loans, equity investments, guarantees and other types of financing provided by the Bank in its ordinary operations under sub-paragraphs 2 (i), (ii), (iii) and (vi) of Article 11 shall not at any time be increased, if by such increase the total amount of its unimpaired subscribed capital, reserves and retained earnings included in its ordinary resources would be exceeded. Notwithstanding the provisions of the preceding sentence, the Board of Governors may, by a Super Majority vote as provided in Article 28, determine at any time that, based on the Bank’s financial position and financial standing, the limitation under this paragraph may be increased, up to 250% of the Bank’s unimpaired subscribed capital, reserves and retained earnings included in its ordinary resources.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The amount of the Bank’s disbursed equity investments shall not at any time exceed an amount corresponding to its total unimpaired paid-in subscribed capital and general reserves.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
The operations of the Bank shall be conducted in accordance with the principles set out below: 1 The Bank shall be guided by sound banking principles in its operations. 2 The operations of the Bank shall provide principally for the financing of specific projects or specific investment programs, for equity investment, and for technical assistance in accordance with Article 15. 3 The Bank shall not finance any undertaking in the territory of a member if that member objects to such financing. 4 The Bank shall ensure that each of its operations complies with the Bank’s operational and financial policies, including without limitation, policies addressing environmental and social impacts. 5 In considering an application for financing, the Bank shall pay due regard to the ability of the recipient to obtain financing or facilities elsewhere on terms and conditions that the Bank considers reasonable for the recipient, taking into account all pertinent factors. 6 In providing or guaranteeing financing, the Bank shall pay due regard to the prospects that the recipient and guarantor, if any, will be in a position to meet their obligations under the financing contract. 7 In providing or guaranteeing financing, the financial terms, such as rate of interest and other charges and the schedule for repayment of principal shall be such as are, in the opinion of the Bank, appropriate for the financing concerned and the risk to the Bank. 8 The Bank shall place no restriction upon the procurement of goods and services from any country from the proceeds of any financing undertaken in the ordinary or special operations of the Bank. 9 The Bank shall take the necessary measures to ensure that the proceeds of any financing provided, guaranteed or participated in by the Bank are used only for the purposes for which the financing was granted and with due attention to considerations of economy and efficiency. 10 The Bank shall pay due regard to the desirability of avoiding a disproportionate amount of its resources being used for the benefit of any member. 11 The Bank shall seek to maintain reasonable diversification in its investments in equity capital. In its equity investments, the Bank shall not assume responsibility for managing any entity or enterprise in which it has an investment and shall not seek a controlling interest in the entity or enterprise concerned, except where necessary to safeguard the investment of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank shall be guided by sound banking principles in its operations.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The operations of the Bank shall provide principally for the financing of specific projects or specific investment programs, for equity investment, and for technical assistance in accordance with Article 15.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The Bank shall not finance any undertaking in the territory of a member if that member objects to such financing.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The Bank shall ensure that each of its operations complies with the Bank’s operational and financial policies, including without limitation, policies addressing environmental and social impacts.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 5
5 In considering an application for financing, the Bank shall pay due regard to the ability of the recipient to obtain financing or facilities elsewhere on terms and conditions that the Bank considers reasonable for the recipient, taking into account all pertinent factors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 6
6 In providing or guaranteeing financing, the Bank shall pay due regard to the prospects that the recipient and guarantor, if any, will be in a position to meet their obligations under the financing contract.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 7
7 In providing or guaranteeing financing, the financial terms, such as rate of interest and other charges and the schedule for repayment of principal shall be such as are, in the opinion of the Bank, appropriate for the financing concerned and the risk to the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 8
8 The Bank shall place no restriction upon the procurement of goods and services from any country from the proceeds of any financing undertaken in the ordinary or special operations of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 9
9 The Bank shall take the necessary measures to ensure that the proceeds of any financing provided, guaranteed or participated in by the Bank are used only for the purposes for which the financing was granted and with due attention to considerations of economy and efficiency.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 10
10 The Bank shall pay due regard to the desirability of avoiding a disproportionate amount of its resources being used for the benefit of any member.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 11
11 The Bank shall seek to maintain reasonable diversification in its investments in equity capital. In its equity investments, the Bank shall not assume responsibility for managing any entity or enterprise in which it has an investment and shall not seek a controlling interest in the entity or enterprise concerned, except where necessary to safeguard the investment of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 In the case of loans made or participated in or loans guaranteed by the Bank, the contract shall establish, in conformity with the operating principles set forth in Article 13 and subject to the other provisions of this Agreement, the terms and conditions for the loan or the guarantee concerned. In setting such terms and conditions, the Bank shall take fully into account the need to safeguard its income and financial position.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Where the recipient of loans or guarantees of loans is not itself a member, the Bank may, when it deems it advisable, require that the member in whose territory the project concerned is to be carried out, or a public agency or any instrumentality of that member acceptable to the Bank, guarantee the repayment of the principal and the payment of interest and other charges on the loan in accordance with the terms thereof.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The amount of any equity investment shall not exceed such percentage of the equity capital of the entity or enterprise concerned as permitted under policies approved by the Board of Directors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The Bank may provide financing in its operations in the currency of the country concerned, in accordance with policies that minimize currency risk.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank may provide technical advice and assistance and other similar forms of assistance which serve its purpose and come within its functions.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Where expenditures incurred in furnishing such services are not reimbursable, the Bank shall charge such expenditures to the income of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
In addition to the powers specified elsewhere in this Agreement, the Bank shall have the powers set out below. 1 The Bank may raise funds, through borrowing or other means, in member countries or elsewhere, in accordance with the relevant legal provisions. 2 The Bank may buy and sell securities the Bank has issued or guaranteed or in which it has invested. 3 The Bank may guarantee securities in which it has invested in order to facilitate their sale. 4 The Bank may underwrite, or participate in the underwriting of, securities issued by any entity or enterprise for purposes consistent with the purpose of the Bank. 5 The Bank may invest or deposit funds not needed in its operations. 6 The Bank shall ensure that 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, unless it is in fact the obligation of a particular Government, in which case it shall so state. 7 The Bank may establish and administer funds held in trust for other parties, provided such trust funds are designed to serve the purpose and come within the functions of the Bank, under a trust fund framework which shall have been approved by the Board of Governors. 8 The Bank may establish subsidiary entities which are designed to serve the purpose and come within the functions of the Bank, only with the approval of the Board of Governors by a Special Majority vote as provided in Article 28. 9 The Bank may exercise such other powers and establish such rules and regulations as may be necessary or appropriate in furtherance of its purpose and functions, consistent with the provisions of this Agreement.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank may raise funds, through borrowing or other means, in member countries or elsewhere, in accordance with the relevant legal provisions.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 The Bank may buy and sell securities the Bank has issued or guaranteed or in which it has invested.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The Bank may guarantee securities in which it has invested in order to facilitate their sale.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 4
4 The Bank may underwrite, or participate in the underwriting of, securities issued by any entity or enterprise for purposes consistent with the purpose of the Bank.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 5
5 The Bank may invest or deposit funds not needed in its operations.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 6
6 The Bank shall ensure that 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, unless it is in fact the obligation of a particular Government, in which case it shall so state.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 7
7 The Bank may establish and administer funds held in trust for other parties, provided such trust funds are designed to serve the purpose and come within the functions of the Bank, under a trust fund framework which shall have been approved by the Board of Governors.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 8
8 The Bank may establish subsidiary entities which are designed to serve the purpose and come within the functions of the Bank, only with the approval of the Board of Governors by a Special Majority vote as provided in Article 28.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 9
9 The Bank may exercise such other powers and establish such rules and regulations as may be necessary or appropriate in furtherance of its purpose and functions, consistent with the provisions of this Agreement.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 1
1 The Bank may accept Special Funds which are designed to serve the purpose and come within the functions of the Bank; such Special Funds shall be resources of the Bank. The full cost of administering any Special Fund shall be charged to that Special Fund.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 2
2 Special Funds accepted by the Bank may be used on terms and conditions consistent with the purpose and functions of the Bank and with the agreement relating to such Funds.
Asian Infrastructure Investment Bank Agreement Act — A-12.8 3
3 The Bank shall adopt such special rules and regulations as may be required for the establishment, administration and use of each Special Fund. Such rules and regulations shall be consistent with the provisions of this Agreement, except for those provisions expressly applicable only to ordinary operations of the Bank.