Document ID: chunk:federal_register_of_legislation:C2020C00320:schedule:1:p15
Version: federal_register_of_legislation:C2020C00320
Segment Type: schedule
Provision Reference: sch 1 (pt 15/31)
Character Range: 40323–43092

decision by the following principles:
 (i) the votes of members shall reflect actual subscriptions to the Agency's capital and the membership votes as set out in Section (a) of this Article;
 (ii) shares allocated to countries which shall not have signed the Convention shall be made available for reallocation to such members and in such manner as to make possible voting parity between the above‑mentioned Categories; and
 (iii) the Council will take measures that will facilitate members' ability to subscribe to shares allocated to them.

 (d)  Within the three‑year period provided for in Section (b) of this Article, all decisions of the Council and Board shall be taken by special majority, except that decisions requiring a higher majority under this Convention shall be taken by such higher majority.

 (e)  In case the capital stock of the Agency is increased pursuant to Section (c) of Article 5, each member which so requests shall be authorized to subscribe a proportion of the increase equivalent to the proportion which its stock theretofore subscribed bears to the total capital stock of the Agency, but no member shall be obligated to subscribe any part of the increased capital.

 (f)  The Council shall issue regulations regarding the making of additional subscriptions under Section (e) of this Article. Such regulations shall prescribe reasonable time limits for the submission by members of requests to make such subscriptions.

Article 40.   Voting in the Council

 (a)  Each Governor shall be entitled to cast the votes of the member he represents. Except as otherwise specified in this Convention, decisions of the Council shall be taken by a majority of the votes cast.

 (b)  A quorum for any meeting of the Council shall be constituted by a majority of the Governors exercising not less than two‑thirds of the total voting power.

 (c)  The Council may by regulation establish a procedure whereby the Board, when it deems such action to be in the best interests of the Agency, may request a decision of the Council on a specific question without calling a meeting of the Council.

Article 41.   Election of Directors

 (a)  Directors shall be elected in accordance with Schedule B.

 (b)  Directors shall continue in office until their successors are elected. If the office of a Director becomes vacant more than ninety days before the end of his term, another Director shall be elected for the remainder of the term by the Governors who elected the former Director. A majority of the votes cast shall be required for election. While the office remains vacant, the Alternate of the former Director shall exercise his powers, except that of appointing an Alternate.

Article 42.   Voting in the Board

 (a)  Each Director shall be entitled