Document ID: chunk:federal_register_of_legislation:C2004A00768:clause:1_1
Version: federal_register_of_legislation:C2004A00768
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 1846–2503

1  Schedule 1 (section 1 of Article XV of the Articles of Agreement of the International Monetary Fund)
Repeal the section, substitute:

Section 1. Authority to allocate special drawing rights

(a) To meet the need, as and when it arises, for a supplement to existing reserve assets, the Fund is authorized to allocate special drawing rights in accordance with the provisions of Article XVIII to members that are participants in the Special Drawing Rights Department.

(b) In addition, the Fund shall allocate special drawing rights to members that are participants in the Special Drawing Rights Department in accordance with the provisions of Schedule M.