Document ID: chunk:federal_register_of_legislation:C1968A00130:body:0:p4
Version: federal_register_of_legislation:C1968A00130
Segment Type: other
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Character Range: 7592–10412

out of the Consolidated Revenue Fund to enable the Commonwealth to carry out its obligations as a participant in the Special Drawing Account, he may direct that that amount shall be paid out of the Consolidated Revenue Fund, which is, to the necessary extent, hereby appropriated accordingly.".

Regulations.
10. Section 11 of the Principal Act is amended—
     (a) by inserting after the word "Agreement" (first occurring) the words "(other than Article IX)"; and
     (b) by inserting after the word "Agreement" (second occurring) the words "(other than Article VII)".

Fourth Schedule.
11. The Principal Act is amended by adding at the end thereof the following Schedule:—

                      FOURTH SCHEDULE Section 3.

Resolution of the Board of Governors of the International Monetary Fund No. 23-5

Whereas the Executive Directors have completed their work relating to the establishment in the International Monetary Fund of a new facility based on special drawing rights in order to meet the need, as and when it arises, for a supplement to existing reserve assets, and on improvements in the present rules and practices of the Fund, pursuant to Resolution No. 22-8 of the Board of Governors of the International Monetary Fund at its Twenty-Second Annual Meeting in Rio de Janeiro; and
Whereas the Executive Directors have prepared a Report setting forth proposals for modifications in the Articles of Agreement of the International Monetary Fund for the purpose of establishing the new facility and giving effect to certain modifications in the present rules and practices of the Fund; and
Whereas the Chairman of the Board of Governors has requested the Secretary of the Fund to bring the proposals of the Executive Directors before the Board of Governors; and
Whereas the Report of the Executive Directors setting forth their proposals has been submitted to the Board of Governors by the Secretary of the Fund; and
Whereas the Executive Directors have requested the Board of Governors to vote on the following Resolution without meeting, pursuant to Section 13 of the By-Laws of the Fund;
Now, Therefore, the Board of Governors, noting the said Report of the Executive-Directors, hereby RESOLVES that:
     1. The Proposed Amendment to the Articles of Agreement of the International Monetary Fund set forth in the attachment to this Resolution is approved.
     2. The Secretary of the Fund is directed to ask, by letter or telegram, all members of the Fund whether they accept, in accordance with the provisions of Article XVII, the Proposed Amendment to the Articles of Agreement as set forth in the attachment to this Resolution.
     3. The circular letter or telegram to be sent to all members in accordance with 2 above shall specify that the Proposed Amendment to the Articles of Agreement set forth