CELEX: 11957E/PRO/BEI/09
Language: en
Date: 1957-03-25 00:00:00
Title: TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY, PROTOCOL ON THE STATUTE OF THE EUROPEAN INVESTMENT BANK, ARTICLE 9

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11957E/PRO/BEI/09

TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY, PROTOCOL ON THE STATUTE OF THE EUROPEAN INVESTMENT BANK, ARTICLE 9  

++++Article 9  1 . The Board of Governors shall consist of the Ministers designated by the Member States .  2 . The Board of Governors shall lay down general directives for the credit policy of the Bank , with particular reference to the objectives to be pursued as progress is made in the attainment of the common market .  The Board of Governors shall ensure that these directives are implemented .  3 . The Board of Governors shall in addition :   ( a ) decide whether to increase the subscribed capital in accordance with Article 4 ( 3 ) and Article 5 ( 2 ) ; (*)   ( b ) exercise the powers provided in Article 6 in respect of special loans ;   ( c ) exercise the powers provided in Articles 11 and 13 in respect of the appointment and the compulsory retirement of the members of the Board of Directors and of the Management Committee , and those powers provided in the second subparagraph of Article 13 ( 1 ) ; (*)   ( d ) authorise the derogation provided for in Article 18 ( 1 ) ;   ( e ) approve the annual report of the Board of Directors ;   ( f ) approve the annual balance sheet and profit and loss account ;   ( g ) exercise the powers and functions provided in Articles 4 , 7 , 14 , 17 , 26 and 27 ; (**)   ( h ) approve the rules of procedure of the Bank .  4 . Within the framework of this Treaty and this Statute , the Board of Governors shall be competent to take , acting unanimously , any decisions concerning the suspension of the operations of the Bank and , should the event arise , its liquidation .  (*) Subparagraphs ( a ) and ( c ) as amended by Article 4 of Protocol No 1 annexed to the Act of Accession .  (**) Subparagraph ( g ) as amended by Article 3 of the Treaty amending the Protocol on the Statute of the Bank .