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Uimhir 32 de 1988
AN tACHT UM AN nGNÍOMHAIREACHT ILTAOBHACH DO RÁTHÚ INFHEISTÍOCHTA, 1988
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Uimhir 32 de 1988
AN tACHT UM AN nGNÍOMHAIREACHT ILTAOBHACH DO RÁTHÚ INFHEISTÍOCHTA, 1988
[An tiontú oifigiúil]
Léiriú.
1.—San Acht seo—
ciallaíonn “an Ghníomhaireacht” an Ghníomhaireacht Iltaobhach do Ráthú Infheistíochta;
ciallaíonn “an Coinbhinsiún” an Coinbhinsiún (a bhfuil an téacs de leagtha amach sa Sceideal a ghabhann leis an Acht seo) lena ndéantar foráil maidir leis an nGníomhaireacht Iltaobhach do Ráthú Infheistíochta a bhunú agus a oibriú;
ciallaíonn “an tAire” an tAire Airgeadais.
Téarmaí an Choinbhinsiúin a fhormheas.
2.—Formheastar leis seo téarmaí an Choinbhinsiúin.
Forálacha airgeadais agus forálacha eile.
3.—(1) Tiocfaidh na fo-ailt ina dhiaidh seo den alt seo i ngníomh an lá a dtiocfaidh an Coinbhinsiún i bhfeidhm maidir le hÉirinn de réir théarmaí Alt (c) d'Airteagal 61 den Choinbhinsiún.
(2) Déanfar na híocaíochtaí seo a leanas, amhail mar is cuí agus nuair is cuí iad a dhéanamh thar ceann an Stáit, as an bPríomh-Chiste nó a thoradh fáis:—
(a) íocaíochtaí faoi Airteagail 6, 7 agus 8 den Choinbhinsiún i leith suibscríobh don Ghníomhaireacht; agus
(b) íocaíochtaí faoi Alt (e) d'Airteagal 39 den Choinbhinsiún.
(3) Féadfaidh an tAire cibé nótaí nó oibleagáidí eile neamhúsmhara agus doshannta dá bhforáiltear i mír (i) d'Airteagal 7 den Choinbhinsiún a bhunú agus a eisiúint chuig an nGníomhaireacht, i cibé foirm is iomchuí leis, agus is as an bPríomh-Chiste nó a thoradh fáis a dhéanfar aon íocaíochtaí i leith aon nótaí nó oibleagáidí den sórt sin arna mbunú agus arna n-eisiúint amhlaidh.
(4) Aon airgead a gheobhaidh an Stát ón nGníomhaireacht cuirfear é chun creidmheasa chuntas an Státchiste agus beidh sé mar chuid den Phríomh-Chiste agus beidh sé ar fáil ar bhealach ar bith a mbeidh an Ciste sin ar fáil.
(5) Gníomhóidh Banc Ceannais na hÉireann mar thaisclann le haghaidh sealbhán airgeadra an Stáit agus sócmhainní eile de chuid na Gníomhaireachta agus féadfaidh sé aon suim nó suimeanna a bheidh ag teastáil faoi chomhair íocaíochtaí faoin alt seo a airleacan don Aire Airgeadais, ach sin faoi réir cibé urrúis, ráta úis agus téarmaí agus coinníollacha eile ar a gcomhaontóidh an tAire agus an Banc.
(6) Déanfar príomhshuim agus ús aon airleacan a dhéanfar faoi fho-alt (5) den alt seo a mhuirearú ar an bPríomh-Chiste nó a thoradh fáis.
Aitheantas do chearta seachaíochta.
4.—Tabharfaidh an Stát aitheantas do chearta seachaíochta na Gníomhaireachta, mar atá siad leagtha amach in Airteagal 18 den Choinbhinsiún.
Forálacha eadrána a fhorfheidhmiú.
5.—(1) Na hoibleagáidí airgid a fhorchuirtear le dámhachtain faoi Alt (h) d'Airteagal 4 d'Iarscríbhinn II den Choinbhinsiún beidh siad, le cead ón Ard-Chúirt, infheidhmithe sa tslí chéanna a bheadh breithiúnas nó ordú ón Ard-Chúirt sa chéill chéanna agus, má thugtar cead amhlaidh, féadfar breithiúnas a thaifeadadh i leith an méid a bheidh dlite nó, de réir mar a bheidh, i leith an iarmhéid a bheidh gan íoc, faoin dámhachtain.
(2) I gcás go ndéanfar iarratas chun na hArd-Chúirte de bhun fho-alt (1) den alt seo, déanfaidh an Ard-Chúirt, in aon chás ina mbeidh bac curtha ar fhorfheidhmiú dámhachtana de réir Alt (i) d'Airteagal 4 d'Iarscríbhinn II den Choinbhinsiún, bac a chur ar fhorfheidhmiú na n-oibleagáidí airgid a forchuireadh leis an dámhachtain agus, in aon chás ina mbeidh iarratas déanta de réir an Ailt sin a dúradh a bhféadfaí, dá ngéillfí dó, bac a chur ar fhorfheidhmiú na dámhachtana dá bharr, féadfaidh sí bac a chur ar fhorfheidhmiú na n-oibleagáidí airgid a forchuireadh leis an dámhachtain.
Gearrtheideal.
6.—Féadfar an tAcht um an nGníomhaireacht Iltaobhach do Ráthú Infheistíochta, 1988, a ghairm den Acht seo.
AN SCEIDEAL
COINBHINSIÚN AG BUNÚ NA GNÍOMHAIREACHTA ILTAOBHAÍ DO RÁTHÚ INFHEISTÍOCHTA
Brollach
Tá na Stáit Chonarthacha
De bhrí gur gá comhar idirnáisiúnta le haghaidh forbartha eacnamaíochta a neartú agus ranníoc na hinfheistíochta coigríche i gcoitinne, agus go háirithe ranníoc na hinfheistíochta coigríche príobháidí, i leith na forbartha sin, a chothú;
Á aithint dóibh go ndéanfaí sreabhadh na hinfheistíochta coigríche go dtí tíortha forásacha a éascú agus a spreagadh tuilleadh trí imní i dtaobh fiontar neamhthráchtála a laghdú;
Ós mian leo feabhas a chur ar an sreabhadh caipitil agus teicneolaíochta go dtí tíortha forásacha chun críocha táirgiúla faoi réir coinníollacha a thagann lena riachtanais, lena mbeartais agus lena n-aidhmeanna forbartha, ar bhonn caighdeán cóir cobhsaí ó thaobh déileáil le hinfheistíocht choigríche;
Ós deimhin leo go bhféadfaidh an Ghníomhaireacht Iltaobhach do Ráthú Infheistíochta cion tábhachtach a dhéanamh chun infheistíocht choigríche a spreagadh a chomhlánóidh cláir náisiúnta agus réigiúnacha do ráthú infheistíochta agus árachóirí príobháideacha fiontair neamhthráchtála; agus
Á thuiscint dóibh gur chóir don Ghníomhaireacht sin, a mhéid is féidir, freastal dá hoibleagáidí gan dul i muinín a caipitil inghlaoite agus go gcabhrófaí leis an aidhm sin dá leanfaí ag cur feabhais ar choinníollacha infheistíochta,
Tar éis Comhaontú mar a leanas:
CAIBIDIL I
Bunú, Stádas, Cuspóir agus Mínithe
Airteagal 1. Bunú agus Stádas na Gníomhaireachta
(a) Bunaítear leis seo an Ghníomhaireacht Iltaobhach do Ráthú Infheistíochta (dá ngairtear an Ghníomhaireacht anseo ina dhiaidh seo).
(b) Is duine lán-dlítheanach an Ghníomhaireacht agus, go háirithe, beidh cumas inti:
(i) conradh a dhéanamh;
(ii) maoin shochorraithe agus maoin dhochorraithe a fháil agus a dhiúscairt; agus
(iii) imeachtaí dlí a thionscnamh.
Airteagal 2. Aidhm agus Cuspóirí
Is í aidhm na Gníomhaireachta an sreabhadh infheistíochtaí chun críocha táirgiúla i measc balltíortha, agus go háirithe go dtí balltíortha forásacha, a spreagadh, agus ar an gcaoi sin forlíonadh a dhéanamh ar ghníomhaíochtaí an Bhainc Idirnáisiúnta Athfhoirgníochta agus Forbartha (dá ngairtear an Banc anseo ina dhiaidh seo), na Corparáide Airgeadais Idirnáisiúnta agus foras airgeadais forbartha idirnáisiúnta eile.
Chun freastal dá haidhm, déanfaidh an Ghníomhaireacht:
(a) ráthaíochtaí a eisiúint, lena n-áirítear comhárachas agus athárachas, in aghaidh fiontar neamhthráchtála i leith infheistíochtaí i mballtír a shreabhann ó bhalltíortha eile;
(b) gníomhaíochtaí comhlántacha cuí a sheoladh chun an sreabhadh infheistíochtaí go dtí balltíortha forásacha, agus ina measc, a spreagadh; agus
(c) cibé cumhachtaí foghabhálacha eile a fheidhmiú is gá nó is inmhianaithe chun a haidhm a chur chun cinn.
Is faoi threoir fhorálacha an Airteagail seo a dhéanfaidh an Ghníomhaireacht gach cinneadh.
Airteagal 3. Mínithe
Chun críocha an Choinbhinsiúin seo:
(a) Ciallaíonn “ball” Stát a mbeidh an Coinbhinsiún seo tagtha i bhfeidhm ina leith de réir Airteagal 61.
(b) Ciallaíonn “tír ósta” nó “rialtas ósta” ball, rialtas an bhaill, nó aon údarás poiblí de chuid baill ar ina chríocha, mar a mhínítear sin in Airteagal 66, a bheidh infheistíocht le lonnú, is infheistíocht a bheidh ráthaithe nó athárachaithe, nó a mbreithnítear í le haghaidh ráthú nó athárachú, ag an nGníomhaireacht.
(c) Ciallaíonn “balltír fhorásach” ball atá liostaithe amhlaidh i Sceideal A a ghabhann leis an gCoinbhinsiún seo amhail mar a leasófar an Sceideal sin ó am go ham ag an gComhairle Rialtóirí dá dtagraítear in Airteagal 30 (dá ngairtear an Chomhairle anseo ina dhiaidh seo).
(d) Ciallaíonn “tromlach speisialta” vóta dearfach nach lú ná dhá thrian den chumhacht iomlán vótála, a fhreagraíonn do chion nach lú ná caoga a cúig faoin gcéad de scaireanna suibscríofa stoc caipitiúil na Gníomhaireachta.
(e) Ciallaíonn “airgeadra is inúsáidte go héasca” (i) aon airgeadra a bheidh sainithe amhlaidh ag an gCiste Airgeadaíochta Idirnáisiúnta ó am go ham agus (ii) aon airgeadra eile atá ar fáil go héasca agus inúsáidte go héifeachtach agus a bheidh sainithe chun críocha an Choinbhinsiúin seo ag an mBord Stiúrthóirí dá dtagraítear in Airteagal 30 (dá ngairtear an Bord anseo ina dhiaidh seo) tar éis dul i gcomhairle leis an gCiste Airgeadaíochta Idirnáisiúnta agus le cead na tíre ar léi an t-airgeadra sin.
CAIBIDIL II
Ballraíocht agus Caipiteal
Airteagal 4. Ballraíocht
(a) Beidh ballraíocht sa Ghníomhaireacht ar fáil ag baill uile an Bhainc agus ag an Eilvéis.
(b) Is iad na baill bhunaidh na Stáit atá liostaithe i Sceideal A a ghabhann leis an gCoinbhinsiún seo agus a thagann chun bheith ina bpáirtithe sa Choinbhinsiún seo ar nó roimh an 30 Deireadh Fómhair, 1987.
Airteagal 5. Caipiteal
(a) Billiún amháin de Chearta Tarraingthe Speisialta (CTS 1,000,000,000) a bheidh i stoc caipitiúil údaraithe na Gníomhaireachta. Beidh an stoc caipitiúil roinnte ina 100,000 scair a mbeidh parluach 10,000 CTS an ceann acu, agus a bheidh ar fáil le haghaidh suibscríofa ag baill. Déanfar oibleagáidí íocaíochta uile na mball i leith stoic chaipitiúil a shocrú ar bhonn mheánluach an CTS i ndollair na Stát Aontaithe don tréimhse ón 1 Eanáir, 1981 go dtí an 30 Meitheamh, 1985, agus is é an luach é sin 1.082 dollar na Stát Aontaithe in aghaidh an CTS.
(b) Méadófar an stoc caipitiúil an tráth a ligfear ball nua isteach sa mhéid nach leor na scaireanna a bheidh údaraithe an tráth sin faoi chomhair na scaireanna a bheidh le suibscríobh ag an mball sin de bhun Airteagal 6.
(c) Féadfaidh an Chomhairle tráth ar bith, trí thromlach speisialta, stoc caipitiúil na Gníomhaireachta a mhéadú.
Airteagal 6. Scaireanna a shuibscríobh
Déanfaidh gach ball bunaidh de chuid na Gníomhaireachta suibscríobh ar par le haghaidh an líon scaireanna de stoc caipitiúil atá os coinne a ainm i Sceideal A a ghabhann leis an gCoinbhinsiún seo. Déanfaidh gach ball eile suibscríobh le haghaidh cibé líon scaireanna de stoc caipitiúil ar cibé téarmaí agus coinníollacha a chinnfidh an Chomhairle, ach gan é sin a dhéanamh i gcás ar bith ar phraghas eisiúna is ísle ná par. Ní dhéanfaidh ball ar bith suibscríobh le haghaidh líon scaireanna is lú ná caoga. Féadfaidh an Chomhairle rialacha a fhorordú trína bhféadfaidh baill suibscríobh a dhéanamh le haghaidh scaireanna breise den stoc caipitiúil údaraithe.
Airteagal 7. Roinnt an Chaipitil Suibscríofa agus Glaonna air.
Is mar a leanas a íocfar suibscríobh tosaigh gach baill:
(i) Laistigh de nócha lá ón dáta a dtiocfaidh an Coinbhinsiún seo i bhfeidhm maidir leis an mball sin, déanfar deich faoin gcéad de phraghas gach scaire a íoc in airgead tirim mar a leagtar síos in Alt (a) d'Airteagal 8 agus íocfar deich faoin gcéad eile i bhfoirm nótaí gealltanais doshannta neamhúsmhara nó oibleagáidí dá samhail a bheidh le sóinseáil, de bhun cinneadh ón mBord, chun freastal d'oibleagáidí na Gníomhaireachta.
(ii) Beidh an fuílleach faoi réir a ghlaoite ag an nGníomhaireacht nuair is gá é chun freastal dá hoibleagáidí.
Airteagal 8. Suibscríobh Scaireanna a Íoc
(a) Is in airgeadraí is inúsáidte go héasca a íocfar suibscríobhanna ach amháin go bhféadfaidh balltíortha forásacha suas le fiche a cúig faoin gcéad den chion íoctha dá suibscríobhanna is iníoctha, in airgead tirim, faoi Airteagal 7 (i), a íoc ina n-airgeadraí féin.
(b) Aon ghlaonna a dhéanfar ar aon chion de shuibscríobhanna neamhíoctha is go haonfhoirmeach ar na scaireanna go léir a dhéanfar iad.
(c) Más rud é, maidir leis an méid a bheidh faighte ag an nGníomhaireacht de bhun glaoigh, nach leor é chun freastal do na hoibleagáidí ba chionsiocair leis an nglaoch, féadfaidh an Ghníomhaireacht glaonna eile a dhéanamh dá éis sin ar shuibscríobhanna neamhíoctha go dtí gur leor an méid comhiomlán a bheidh faighte aici chun freastal do na hoibleagáidí sin.
(d) Ní bhainfidh dliteanas maidir le scaireanna ach amháin leis an gcion neamhíoctha den phraghas eisiúna.
Airteagal 9. Luacháil Airgeadraí
Aon uair is gá, chun críocha an Choinbhinsiúin seo, luach airgeadra amháin a chinneadh i dtéarmaí airgeadra eile, is é a bheidh sa luach sin cibé luach a bheidh cinnte go réasúnach ag an nGníomhaireacht, tar éis dul i gcomhairle leis an gCiste Airgeadaíochta Idirnáisiúnta.
Airteagal 10. Aisíocaíochtaí
(a) Déanfaidh an Ghníomhaireacht, a luaithe is indéanta, méideanna a bheidh íoctha de bhun glaonna ar chaipiteal suibscríofa a thabhairt ar ais do bhaill más rud é, agus sa mhéid:
(i) gur chun íoc as éileamh de thoradh ráthaíochta nó conartha athárachais a rinneadh an glaoch agus go mbeidh an Ghníomhaireacht, dá éis sin, tar éis a híocaíocht a ghnóthú, go hiomlán nó go páirteach, in airgeadra is inúsáidte go héasca; nó
(ii) gur mar gheall ar mhainneachtain ag ball íocaíocht a dhéanamh a rinneadh an glaoch agus go mbeidh an ball sin tar éis an mhainneachtain sin a chur ina cheart, go hiomlán nó go páirteach, dá éis sin; nó
(iii) go gcinnfidh an Chomhairle, trí thromlach speisialta, gur féidir, de bharr staid airgeadais na Gníomhaireachta, na méideanna sin go léir nó aon chuid díobh a thabhairt ar ais as ioncaim na Gníomhaireachta.
(b) Aon aisíoc a dhéanfar faoin Airteagal seo le ball, is in airgeadra is inúsáidte go héasca a dhéanfar é agus sin sa chomhréir a bheidh idir na híocaíochtaí a rinne an ball sin agus an méid iomlán a íocadh de bhun glaonna a rinneadh roimh an aisíoc sin.
(c) Beidh coibhéis na méideanna a aisíocfar le ball faoin Airteagal seo ina cuid d'oibleagáidí caipitil inghlaoite an bhaill faoi Airteagal 7 (ii).
CAIBIDIL III
Oibríochtaí
Airteagal 11. Fiontair a bheidh cumhdaithe
(a) Faoi réir fhorálacha Ailt (b) agus (c) thíos, féadfaidh an Ghníomhaireacht infheistíochtaí cáilithe a ráthú in aghaidh caillteanais a thig de dheasca fiontar amháin nó níos mó de na cineálacha seo a leanas:
(i) Aistriú Airgeadra
aon srianta a thabharfar isteach, agus is inchurtha i leith an rialtais ósta, ar airgeadra an rialtais sin a aistriú, lasmuigh den tír ósta, isteach in airgeadra is inúsáidte go héasca nó in airgeadra eile a bhfuil glacadh ag sealbhóir na ráthaíochta leis, lena n-áirítear mainneachtain ar thaobh an rialtais ósta gníomhú, laistigh de thréimhse réasúnach ama, ar iarratas ón sealbhóir sin chun an t-aistriú sin a dhéanamh;
(ii) Díshealbhú agus Bearta dá Shamhail
aon ghníomh reachtaíochta, nó aon ghníomh nó neamhghníomh riaracháin, is inchurtha i leith an rialtais ósta agus arb é is éifeacht leis a úinéireacht nó a rialú ar a infheistíocht, nó tairbhe substaintiúil óna infheistíocht, a bhaint de shealbhóir ráthaíochta, cé is moite de bhearta neamh-idirdhealaitheacha a bhfuil feidhm ghinearálta leo agus a ghlacann rialtais de ghnáth chun gníomhaíocht eacnamaíochta ina gcuid críocha a rialáil;
(iii) Sárú Conartha
aon séanadh nó sárú ag an rialtas ósta ar chonradh le sealbhóir ráthaíochta, i gcás (a) nach bhfuil sealbhóir ráthaíochta in ann dul i muinín fóraim bhreithiúnaigh nó eadrána chun an t-éileamh faoi shéanadh nó sárú a chinneadh, nó (b) nach dtabharfar cinneadh ón bhfóram sin laistigh de cibé tréimhse réasúnach ama a bheidh forordaithe sna conarthaí ráthaíochta de bhun rialacháin na Gníomhaireachta, nó (c) nach féidir cinneadh den sórt sin a fhorfheidhmiú; agus
(iv) Cogadh agus Suaitheadh Sibhialta
aon ghníomh míleata nó suaitheadh sibhialta in aon chríoch de chuid na tíre ósta a mbeidh feidhm ag an gCoinbhinsiún seo ina leith mar a fhoráiltear in Airteagal 66.
(b) Ar comhiarratas a bheith déanta ag an infheisteoir agus ag an tír ósta, féadfaidh an Bord, trí thromlach speisialta, a cheadú go leathnófaí an cumhdach faoin Airteagal seo le go mbainfidh sé le fiontair neamhthráchtála sonracha seachas na fiontair dá dtagraítear in Alt (a) thuas, ach ní bhainfidh sé i gcás ar bith le fiontar díluachála nó dímheasa airgeadra.
(c) Ní chumhdófar caillteanais de dheasca na nithe seo a leanas:
(i) aon ghníomh nó neamhghníomh ag aon rialtas ósta ar chomhaontaigh sealbhóir na ráthaíochta leis nó a raibh sé freagrach as; agus
(ii) aon ghníomh nó neamhghníomh ag aon rialtas ósta nó aon teagmhas eile, a tharla sular cuireadh an conradh ráthaíochta i gcrích.
Airteagal 12. Infheistíochtaí Cáilitheacha
(a) Folóidh infheistíochtaí cáilitheacha leasanna cothromais, lena n-áirítear iasachtaí meántéarma nó fadtéarma arna ndéanamh nó arna ráthú ag sealbhóirí cothromais sa bhfiontar lena mbaineann, agus cibé cineálacha infheistíochta dírí a chinnfidh an Bord.
(b) Féadfaidh an Bord, trí thromlach speisialta, cáilitheacht a leathnú le go bhfolóidh sí aon chineál eile infheistíochta, meántéarma nó fadtéarma, ach amháin nach bhféadfaidh iasachtaí seachas iad siúd a luaitear in Alt (a) thuas a bheith ina n-iasachtaí cáilitheacha ach amháin má bhíonn baint acu le hinfheistíocht shonrach atá cumhdaithe nó le cumhdach ag an nGníomhaireacht.
(c) Ní thabharfar ráthaíochtaí ach amháin i leith infheistíochtaí a dtosófar ar iad a chur i bhfeidhm tar éis don Ghníomhaireacht an t-iarratas ar an ráthaíocht a chlárú. Féadfaidh na nithe seo a leanas a bheith ar áireamh sna hinfheistíochtaí sin:
(i) aon aistriú ar airgead eachtrach a dhéanfar chun infheistíocht láithreach a nuachóiriú, a leathnú nó a fhorbairt; agus
(ii) leas a bhaint as tuillimh ó infheistíochtaí láithreacha, ar tuillimh iad a bhféadfaí thairis sin iad a aistriú amach ón tír ósta.
(d) Le linn infheistíocht a bheith á ráthú aici, cinnteoidh an Ghníomhaireacht na nithe seo a leanas di féin:
(i) fóntas eacnamaíoch na hinfheistíochta agus a mhéid a d'fhéadfadh sí cabhrú le forbairt na tíre ósta;
(ii) go gcomhlíonann an infheistíocht dlíthe agus rialacháin na tíre ósta;
(iii) go bhfuil an infheistíocht ag teacht le haidhmeanna agus tosaíochtaí dearbhaithe na tíre ósta maidir le forbairt; agus
(iv) dálaí infheistíochta sa tír ósta, lena n-áirítear cóir chothrom fhéaráilte agus cosaint dhlíthiúil a bheith ar fáil don infheistíocht.
Airteagal 13. Infheisteoirí Cáilitheacha
(a) Féadfaidh aon duine nádúrtha agus aon duine dlítheanach a bheith cáilithe chun ráthaíocht na Gníomhaireachta a fháil ar na coinníollacha seo a leanas:
(i) gur náisiúnach de chuid baill seachas an tír ósta an duine nádúrtha sin;
(ii) go bhfuil an duine dlítheanach sin corpraithe agus gur i mball atá a phríomh-áit ghnó nó go bhfuil an chuid is mó dá chaipiteal ar úinéireacht ag ball nó baill nó ag náisiúnaigh den bhall nó de na baill sin, ar choinníoll nach í an tír ósta an ball sin in aon chás acu sin thuas; agus
(iii) go n-oibríonn an duine dlítheanach sin ar bhonn tráchtála, bíodh nó ná bíodh sé faoi úinéireacht phríobháideach.
(b) I gcás breis agus náisiúntacht amháin a bheith ag an infheisteoir, beidh, chun críocha Alt (a) thuas, tosaíocht ag náisiúntacht baill ar náisiúntacht Stáit nach ball, agus beidh tosaíocht ag náisiúntacht na tíre ósta ar náisiúntacht aon bhaill eile.
(c) Ar comhiarratas a bheith déanta ag an infheisteoir agus ag an tír ósta, féadfaidh an Bord, trí thromlach speisialta, cáilitheacht a leathnú le go bhfolóidh sí duine nádúrtha is náisiúnach de chuid na tire ósta nó duine dlítheanach atá corpraithe sa tír ósta nó a bhfuil an chuid is mó dá chaipiteal ar úinéireacht ag náisiúnaigh de chuid na tíre ósta, ar choinníoll gur ó áit lasmuigh den tír ósta a aistrítear na sócmhainní a infheistítear.
Airteagal 14. Tíortha Ósta Cáilitheacha
Ní ráthófar infheistíochtaí faoin gCaibidil seo ach amháin i gcás gur i gcríoch balltíre forásaí a dhéanfar iad.
Airteagal 15. Formheas na Tíre Ósta
Ní chuirfidh an Ghníomhaireacht aon chonradh ráthaíochta i gcrích sula mbeidh eisiúint na ráthaíochta ag an nGníomhaireacht, in aghaidh na bhfiontar a bheidh ainmnithe le haghaidh cumhdaigh, formheasta ag an tír ósta.
Airteagal 16. Téarmaí agus Coinníollacha
Déanfaidh an Ghníomhaireacht téarmaí agus coinníollacha gach conartha ráthaíochta a chinneadh faoi réir cibé rialacha agus rialacháin a eiseoidh an Bord, ar choinníoll nach gcumhdóidh an Ghníomhaireacht caillteanas iomlán na hinfheistíochta ráthaithe. Formheasfaidh an tUachtarán, faoi threoir an Bhoird, conarthaí ráthaíochta.
Airteagal 17. Éilimh a íoc
Déanfaidh an tUachtarán, faoi threoir an Bhoird, cinneadh i dtaobh éilimh a íoc le sealbhóir ráthaíochta de réir an chonartha ráthaíochta agus de réir cibé beartas a ghlacfaidh an Bord. Ceanglóidh conarthaí ráthaíochta ar shealbhóirí ráthaíochtaí cibé leigheasanna riaracháin is cuí sna himthosca a lorg sula ndéanfaidh an Ghníomhaireacht íocaíocht, ach na leigheasanna sin a bheith ar fáil go réidh acu faoi dhlíthe na tíre ósta. Féadfar a cheangal sna conarthaí sin tréimhsí réasúnacha ama áirithe a bheith caite idir tarlú teagmhas is cúis le héilimh agus íoc na n-éileamh.
Airteagal 18. Seachaíocht
(a) Ar cúiteamh a íoc, nó ar aontú ar chúiteamh a íoc, le sealbhóir ráthaíochta, seachófar chun na Gníomhaireachta cibé cearta nó éilimh i ndáil leis an infheistíocht ráthaithe a bhí ag sealbhóir na ráthaíochta i gcoinne na tíre ósta agus oibleagáideoirí eile. Beidh téarmaí agus coinníollacha na seachaíochta sin sa chonradh ráthaíochta.
(b) Tabharfaidh na baill uile aitheantas do chearta na Gníomhaireachta de bhun Alt (a) thuas.
(c) Aon mhéideanna in airgeadra na tíre ósta a gheobhaidh an Ghníomhaireacht mar sheachaí de bhun Alt (a) thuas tabharfaidh an tír ósta dóibh, maidir le húsáid agus comhshó, cóir atá chomh fabhrach céanna leis an gcóir a mbeadh teideal ag na cistí sin chuici i lámha shealbhóir na ráthaíochta. In aon chás, féadfaidh an Ghníomhaireacht na méideanna sin a úsáid chun a cuid caiteachas riaracháin agus costas eile a íoc. Féachfaidh an Ghníomhaireacht freisin le comhshocraíochtaí a dhéanamh le tíortha ósta maidir le húsáideanna eile a bhaint as na hairgeadraí sin, sa mhéid nach airgeadraí is inúsáidte go héasca iad.
Airteagal 19. Gaolmhaireacht le hEintitis Náisiúnta agus Réigiúnacha
Oibreoidh an Ghníomhaireacht i gcomhar le heintitis náisiúnta ball, agus le heintitis réigiúnacha a bhfuil an chuid is mó dá gcaipiteal ar úinéireacht ag baill, agus a sheolann gníomhaíochtaí atá ar aon dul le gníomhaíochtaí na Gníomhaireachta, agus féachfaidh sí le hoibríochtaí na n-eintiteas sin a chomhlánú, d'fhonn éifeachtúlacht a gcuid seirbhísí faoi seach a uasmhéadú agus d'fhonn an oiread agus is féidir leo a dhéanamh chun sreabhadh na hinfheistíochta coigríche a mhéadú. Chuige sin, féadfaidh an Ghníomhaireacht comhshocraíochtaí a dhéanamh le heintitis den sórt sin maidir le mionsonraí an chomhoibrithe sin, lena n-áirítear go háirithe módúlachtaí an athárachais agus an chomhárachais.
Airteagal 20. Eintitis Náisiúnta agus Réigiúnacha a Athárachú
(a) Féadfaidh an Ghníomhaireacht athárachas a eisiúint, maidir le hinfheistíocht shonrach, i gcoinne caillteanais de dheasca fiontar amháin nó níos mó de na fiontair neamhthráchtála a bheidh frithgheallta ag ball nó ag gníomhaireacht dá chuid nó ag gníomhaireacht réigiúnach do ráthú infheistíochta a bhfuil an chuid is mó dá caipiteal ar úinéireacht ag baill. Forordóidh an Bord ó am go ham, trí thromlach speisialta, uasmhéideanna an dliteanais theagmhasaigh a fhéadfaidh an Ghníomhaireacht a ghlacadh maidir le conarthaí athárachais. Maidir le hinfheistíochtaí sonracha a bheidh críochnaithe breis agus dhá mhí dhéag sula mbeidh an t-iarratas ar athárachas ag an nGníomhaireacht faighte, is é a bheidh san uasmhéid i dtosach báire deich faoin gcéad de dhliteanas teagmhasach comhiomlán na Gníomhaireachta faoin gCaibidil seo. Beidh feidhm, maidir le hoibríochtaí athárachais, ag na coinníollacha cáilitheachta a shonraítear in Airteagail 11 go 14, ach amháin nach gá na hinfheistíochtaí athárachaithe a chur i bhfeidhm i ndiaidh an iarratais ar athárachas.
(b) Leagfar amach i gconarthaí athárachais cearta agus oibleagáidí frithpháirteacha na Gníomhaireachta agus baill nó gníomhaireachta athárachaithe, faoi réir cibé rialacha agus rialacháin a eiseoidh an Bord. Formheasfaidh an Bord gach conradh athárachais a chumhdaíonn infheistíocht a bheidh déanta sula bhfaighfear an t-iarratas ar athárachas ag an nGníomhaireacht, d'fhonn fiontair a íoslaghdú, d'fhonn a chinntiú go bhfaighidh an Ghníomhaireacht préimheanna ar comhréir leis an bhfiontar ina rachaidh sí, agus d'fhonn a chinntiú go bhfuil an t-eintiteas athárachaithe faoi cheangal cuí infheistíocht nua a chur chun cinn i mballtíortha forásacha.
(c) Cinnteoidh an Ghníomhaireacht a mhéid is féidir go mbeidh aici féin nó ag an eintiteas athárachaithe a gcomhionann de chearta seachaíochta agus eadrána a bheadh ag an nGníomhaireacht dá mba í an príomh-ráthóir í. Ceanglófar sna téarmaí agus sna coinníollacha athárachais go lorgófar leigheasanna riaracháin, de réir Airteagal 17, sula ndéanfaidh an Ghníomhaireacht íocaíocht. Ní thiocfaidh seachaíocht in éifeacht maidir leis an tír ósta lena mbaineann go dtí go mbeidh an t-athárachú ag an nGníomhaireacht formheasta aici. Cuirfidh an Ghníomhaireacht forálacha ar áireamh sna conarthaí athárachais á cheangal ar an athárachaí na cearta nó na héilimh a bhaineann leis an infheistíocht athárachaithe a shaothrú go dúthrachtach cuí.
Airteagal 21. Comhoibriú le hÁrachóirí Príobháideacha agus le hAthárachóirí
(a) Féadfaidh an Ghníomhaireacht comhshocraíochtaí a dhéanamh le hárachóirí príobháideacha i mballtíortha chun cur lena hoibríochtaí féin agus chun na hárachóirí sin a spreagadh le cumhdach d'fhiontair neamhthráchtála a chur ar fáil i mballtíortha forásacha ar choinníollacha a bheidh ar aon dul leis na coinníollacha a chuireann an Ghníomhaireacht i bhfeidhm. Féadfar a áireamh sna comhshocraíochtaí sin go gcuirfidh an Ghníomhaireacht athárachas ar fáil faoi na coinníollacha agus na nósanna imeachta a shonraítear in Airteagal 20.
(b) Féadfaidh an Ghníomhaireacht athárachú a dhéanamh, go hiomlán nó go páirteach, le haon eintiteas athárachais iomchuí, ar aon ráthaíocht nó ráthaíochtaí a eiseoidh sí.
(c) Féachfaidh an Ghníomhaireacht go háirithe le hinfheistíochtaí a ráthú nach bhfuil cumhdach comparáideach ar fáil ar théarmaí réasúnacha dóibh ó árachóirí príobháideacha agus ó athárachóirí.
Airteagal 22. Teorainneacha le Ráthaíocht
(a) Mura gcinnfidh an Chomhairle a mhalairt trí thromlach speisialta, ní rachaidh méid comhiomlán na ndliteanas teagmhasach a fhéadfaidh an Ghníomhaireacht a ghlacadh faoin gCaibidil seo thar céad caoga faoin gcéad de mhéid chaipiteal suibscríofa neamhlaghdaithe na Gníomhaireachta agus dá cúlchistí, móide cibé cion dá cumhdach athárachais a chinnfidh an Bord. Déanfaidh an Bord athbhreithniú ó am go ham ar phróifíl fiontair phunann na Gníomhaireachta, ag féachaint dá bhfuil tarlaithe cheana maidir le héilimh, don méid éagsúlachta atá idir a cuid fiontar, dá cumhdach athárachais agus do thosca ábhartha eile, d'fhonn a fháil amach ar chóir a mholadh don Chomhairle athruithe a dhéanamh ar uasmhéid comhiomlán na ndliteanas teagmhasach. Ní mó, in imthosca ar bith, an t-uasmhéid arna chinneadh ag an gComhairle ná cúig oiread mhéid chaipiteal suibscríofa neamhlaghdaithe na Gníomhaireachta, a cúlchistí agus cibé cion dá cumhdach athárachais a mheasfar a bheith cuí.
(b) Gan dochar don teorainn ghinearálta le ráthaíocht dá dtagraítear in Alt (a) thuas, féadfaidh an Bord na méideanna seo a leanas a fhorordú:
(i) uasmhéideanna comhiomlána an dliteanais theagmhasaigh a fhéadfaidh an Ghníomhaireacht a ghlacadh faoin gCaibidil seo i leith na ráthaíochtaí go léir a eiseofar d'infheisteoirí de chuid gach ball ar leith. Le linn na huasmhéideanna sin a bheith á gcinneadh aige, beidh aird chuí ag an mBord ar scair an bhaill áirithe i gcaipiteal na Gníomhaireachta agus ar a riachtanaí atá sé teorainneacha níos flaithiúla a chur i bhfeidhm i leith infheistíochtaí a thionscnaíonn i mballtíortha forásacha; agus
(ii) uasmhéideanna comhiomlána an dliteanais theagmhasaigh a fhéadfaidh an Ghníomhaireacht a ghlacadh maidir le tosca éagsúlachta fiontair fearacht tionscadail ar leith, tíortha ósta ar leith agus cineálacha infheistíochta nó fiontair.
Airteagal 23. Tionscnamh Infheistíochta
(a) Déanfaidh an Ghníomhaireacht taighde, rachaidh sí i mbun gníomhaíochtaí chun sreabhadh infheistíochta a spreag adh agus scaipfidh sí faisnéis faoi dheiseanna infheistíochta i mballtíortha forásacha, d'fhonn an timpeallacht le haghaidh sreabhadh infheistíochta coigríche chun na dtíortha sin a fheabhsú. Féadfaidh an Ghníomhaireacht, ar bhall dá iarraidh sin, comhairle agus cabhair theicniúil a thabhairt chun dálaí infheistíochta i gcríocha an bhaill sin a fheabhsú. Agús na gníomhaíochtaí sin ar siúl aici:
(i) oibreoidh an Ghníomhaireacht faoi threoir chomhaontuithe infheistíochta iomchuí idir balltíortha;
(ii) féachfaidh an Ghníomhaireacht le deireadh a chur le bacainní, i mballtíortha forbartha agus forásacha araon, ar shreabhadh na hinfheistíochta chun balltíortha forásacha; agus
(iii) oibreoidh an Ghníomhaireacht i gcomhar le gníomhaireachtaí eile a ghabhann do thionscnamh na hinfheistíochta coigríche, agus go háirithe leis an gCorparáid Airgeadais Idirnáisiúnta.
(b) Ní mór don Ghníomhaireacht freisin:
(i) socrú síochánta ar dhíospóidí idir infheisteoirí agus tíortha ósta a chothú;
(ii) féachaint le comhaontuithe a dhéanamh le balltíortha forásacha, agus go háirithe le tíortha ósta ionchasacha, ar comhaontuithe iad a áiritheoidh go bhfaighidh an Ghníomhaireacht, maidir le hinfheistíocht arna ráthú aici, cóir atá ar a laghad chomh fabhrach céanna leis an gcóir ar ar aontaigh an ball lena mbaineann, i gcomhaontú a bhaineann le hinfheistíocht, le haghaidh na gníomhaireachta nó an Stáit ráthaíochta infheistíochta is mó fabhar, agus beidh na comhaontuithe sin le formheas trí thromlach speisialta den Bhord; agus
(iii) déanamh comhaontuithe, idir a baill, maidir le tionscnamh agus cosaint infheistíochtaí, a chur chun cinn agus a éascú.
(c) Beidh aird ar leith ag an nGníomhaireacht, ina cuid iarrachtaí tionscnaimh, ar a thábhachtaí atá sé sreabhadh na n-infheistíochtaí idir balltíortha forásacha a mhéadú.
Airteagal 24. Infheistíochtaí faoi Choimirce a Ráthú
I dteannta na n-oibríochtaí ráthaíochta a ghabhfaidh an Ghníomhaireacht de láimh faoin gCaibidil seo, féadfaidh an Ghníomhaireacht infheistíochtaí a ráthú faoi na comhshocraíochtaí coimircíochta dá bhforáiltear in Iarscríbhinn I a ghabhann leis an gCoinbhinsiún seo.
CAIBIDIL IV
Forálacha Airgeadais
Airteagal 25. Bainistíocht Airgeadais
Seolfaidh an Ghníomhaireacht a cuid gníomhaíochtaí i gcomhréir le cleachtais fhónta ghnó agus le cleachtais bhainistíochta airgeadais stuama d'fhonn go mbeidh ar a cumas, i ngach imthoisc, freastal dá hoibleagáidí airgeadais.
Airteagal 26. Préimheanna agus Táillí
Bunóidh an Ghníomhaireacht, agus athbhreithneoidh sí go tréimhsiúil, na rátaí préimheanna, táillí agus muirir eile, más ann, is infheidhme i leith gach cineál fiontair.
Airteagal 27. Glanioncam a Leithroinnt
(a) Gan dochar d'fhorálacha Alt (a) (iii) d'Airteagal 10, déanfaidh an Ghníomhaireacht glanioncam a leithroinnt chuig cúlchistí go dtí go mbeidh sna cúlchistí sin cúig oiread chaipiteal suibscríofa na Gníomhaireachta.
(b) Tar éis do chúlchistí na Gníomhaireachta an leibhéal a fhorordaítear in Alt (a) thuas a bhaint amach, cinnfidh an Chomhairle an ndéanfar, agus cá mhéad a dhéanfar, glanioncam na Gníomhaireachta a leithroinnt chuig cúlchistí, a dháileadh ar bhaill na Gníomhaireachta nó a úsáid ar shlí eile. Aon dáileadh a dhéanfar ar ghlanioncam chuig baill na Gníomhaireachta, déanfar é i gcomhréir le scair gach baill i gcaipiteal na Gníomhaireachta de réir cinnidh ón gComhairle ag gníomhú di trí thromlach speisialta.
Airteagal 28. Buiséad
Ullmhóidh an tUachtarán buiséad gach bliain d'ioncaim agus caiteachais na Gníomhaireachta agus beidh sé le formheas ag an mBord.
Airteagal 29. Cuntais
Foilseoidh an Ghníomhaireacht Tuarascáil Bhliantúil ina mbeidh ráitis ar a cuntais agus ar chuntais an Chiste Iontaobhais Coimircíochta dá dtagraítear in Iarscríbhinn I a ghabhann leis an gCoinbhinsiún seo, arna n-iniúchadh ag iniúchóirí neamhspleácha. Scaipfidh an Ghníomhaireacht ar a baill, ag eatraimh chuí, ráiteas achomair ar a staid airgeadais mar aon le ráiteas brabúis agus caillteanais a thaispeánfaidh torthaí a cuid oibríochtaí.
CAIBIDIL V
Eagrú agus Bainistí
Airteagal 30. Comhdhéanamh na Gníomhaireachta
Beidh ag an nGníomhaireacht Comhairle Rialtóirí, Bord Stiúrthóirí, Uachtarán agus foireann chun cibé dualgais a chomhlíonadh a chinnfidh an Ghníomhaireacht.
Airteagal 31. An Chomhairle
(a) Beidh cumhachtaí uile na Gníomhaireachta dílsithe don Chomhairle, ach amháin cibé cumhachtaí a thugtar go sonrach, le téarmaí an Choinbhinsiúin seo, d'organ eile de chuid na Gníomhaireachta. Féadfaidh an Chomhairle feidhmiú aon chumhachta dá cuid a tharmligean chun an Bhoird, cé is moite den chumhacht:
(i) chun baill nua a ligean isteach agus chun na coinníollacha chun iad a ligean isteach a chinneadh;
(ii) chun ball a fhionraí;
(iii) chun cinneadh ar aon mhéadú nó laghdú a dhéanamh ar an gcaipiteal;
(iv) chun an teorainn atá le méid comhiomlán na ndliteanas teagmhasach, de bhun Alt (a) d'Airteagal 22, a mhéadú;
(v) chun ball a ainmniú mar bhalltír fhorásach de bhun Alt (c) d'Airteagal 3;
(vi) chun ball nua a aicmiú mar thír a bhaineann le hEarnáil a hAon nó Earnáil a Dó chun críocha vótála de bhun Alt (a) d'Airteagal 39 nó chun ball láithreach a athaicmiú chun na gcríoch céanna;
(vii) chun cúiteamh do Stiúrthóirí agus dá Malartaigh a chinneadh;
(viii) chun scor d'oibríochtaí agus chun an Ghníomhaireacht a leachtú;
(ix) chun sócmhainní a dháileadh ar bhaill tráth leachtaithe; agus
(x) chun an Coinbhinsiún seo, agus na hIarscríbhinní agus na Sceidil a ghabhann leis, a leasú.
(b) Is iad a bheidh ar an gComhairle Rialtóir amháin agus Malartach amháin a bheidh ceaptha ag gach ball ar cibé caoi a chinnfidh sé féin. Ní cead d'aon Mhalartach vótáil ach amháin nuair a bheidh a phríomhaí as láthair. Roghnóidh an Chomhairle duine de na Rialtóirí mar Chathaoirleach.
(c) Tionólfaidh an Chomhairle cruinniú bliantúil agus cibé cruinnithe eile a chinnfidh an Chomhairle nó a ghairfidh an Bord. Gairfidh an Bord cruinniú den Chomhairle aon uair a iarrfaidh cúig bhall, nó baill a bhfuil fiche cúig faoin gcéad den chumhacht iomlán vótála acu, é.
Airteagal 32. An Bord
(a) Beidh an Bord freagrach in oibríochtaí ginearálta na Gníomhaireachta agus, i gcomhall na freagrachta sin, déanfaidh sé aon bheart is gá nó a cheadaítear faoin gCoinbhinsiún seo.
(b) Is iad a bheidh ar an mBord dhá Stiúrthóir déag ar a laghad. Féadfaidh an Chomhairle an líon Stiúrthóirí a choigeartú d'fhonn athruithe ar chomhaltas a chur i gcuntas. Féadfaidh gach Stiúrthóir Malartach a cheapadh a mbeidh cumhacht iomlán aige gníomhú thar a cheann i gcás nach mbeidh an Stiúrthóir i láthair nó i gcás nach mbeidh ar a chumas gníomhú. Is é Uachtarán an Bhainc a bheidh, ex officio, ina Chathaoirleach ar an mBord, ach ní bheidh aon vóta aige ach amháin vóta réitigh i gcás comhionannas vótaíochta.
(c) Cinnfidh an Chomhairle téarma oifige na Stiúrthóirí. Comhdhéanfaidh an Chomhairle an chéad Bhord ag a cruinniú tionscnaimh.
(d) Tiocfaidh an Bord le chéile nuair a ghairfidh an Cathaoirleach é ag gníomhú dó as a stuaim féin nó ar iarratas ó thriúr Stiúrthóir.
(e) Go dtí go gcinnfidh an Chomhairle gur chóir go mbeadh Bord cónaitheach, a fheidhmeodh i seisiún leanúnach, ag an nGníomhaireacht, ní bhfaighidh na Stiúrthóirí agus na Malartaigh cúiteamh ach amháin i leith an chostais a thabhaíonn siad ag freastal ar chruinnithe den Bhord agus ag comhlíonadh feidhmeanna oifigiúla eile thar ceann na Gníomhaireachta. Ar Bhord i seisiún leanúnach a bhunú, gheobhaidh na Stiúrthóirí agus na Malartaigh cibé luach saothair a chinnfidh an Chomhairle.
Airteagal 33. Uachtarán agus Foireann
(a) Seolfaidh an tUachtarán gnáthghnó na Gníomhaireachta faoi rialú ginearálta an Bhoird. Beidh sé freagrach in eagrú, ceapadh agus cur as oifig na foirne.
(b) Is é an Bord, ar ainmniú óna Chathaoirleach, a cheapfaidh an tUachtarán. Cinnfidh an Chomhairle tuarastal agus téarmaí chonradh seirbhíse an Uachtaráin.
(c) Ag comhlíonadh a bhfeidhmeanna dóibh, dlíonn an tUachtarán agus an fhoireann a ndualgas go léir don Ghníomhaireacht agus ní d'aon údarás eile. Tabharfaidh gach ball den Ghníomhaireacht d'aitheantas gur dualgas idirnáisiúnta an dualgas sin agus staonfaidh ó aon iarracht ar thionchar a imirt ar an Uachtarán nó ar an bhfoireann i gcomhlíonadh a ndualgas dóibh.
(d) Le linn don Uachtarán a bheith ag ceapadh na foirne, beidh aird chuí aige, faoi réir ró-thábhacht a bheith leis na caighdeáin is airde éifeachta agus cumais theicniúil a áirithiú, ar a thábhachtaí atá sé foireann a earcú ar an mbonn is fairsinge is féidir de thíortha.
(e) Coinneoidh an tUachtarán agus an fhoireann faisnéis a gheobhaidh siad, ag seoladh gníomhaíochtaí na Gníomhaireachta dóibh, faoi rún i gcónaí.
Airteagal 34. Toirmeasc ar Ghníomhaíocht Pholaitiúil
Ní chuirfidh an Ghníomhaireacht ná Uachtarán agus foireann na Gníomhaireachta isteach ar ghnóthaí polaitiúla aon bhaill. Gan dochar do cheart na Gníomhaireachta na himthosca go léir a bhaineann le hinfheistíocht a chur i gcuntas, ní rachaidh gné polaitiúil an bhaill nó na mball lena mbaineann i gcion orthu agus cinntí á ndéanamh acu. Déanfar nithe atá ábhartha ó thaobh cinneadh a dhéanamh a mheas go neamhchlaonta d'fhonn na cuspóirí atá leagtha amach in Airteagal 2 a bhaint amach.
Airteagal 35. Caidreamh le hEagraíochtaí Idirnáisiúnta
Oibreoidh an Ghníomhaireacht, faoi réir théarmaí an Choinbhinsiúin seo, i gcomhar leis na Náisiúin Aontaithe agus le heagraíochtaí idir-rialtasacha eile ar a bhfuil sainfhreagracht i réimsí gaolmhara, lena n-áirítear go háirithe an Banc agus an Chorparáid Airgeadais Idirnáisiúnta.
Airteagal 36. Suíomh na Príomh-Oifige
(a) Is i Washington, D.C., a bheidh príomh-oifig na Gníomhaireachta mura gcinnfidh an Chomhairle, trí thromlach speisialta, í a bhunú in áit éigin eile.
(b) Féadfaidh an Ghníomhaireacht oifigí eile a bhunú de réir mar is gá le haghaidh a cuid oibre.
Airteagal 37. Taisclanna do Shócmhainní
Ainmneoidh gach ball a bhanc ceannais mar thaisclann ina bhféadfaidh an Ghníomhaireacht sealbháin d'airgeadra an bhaill sin nó sócmhainní eile de chuid na Gníomhaireachta a choimeád nó, mura bhfuil banc ceannais aige, ainmneoidh sé chun na críche sin cibé foras eile lena mbeidh glacadh ag an nGníomhaireacht.
Airteagal 38. Bealach Teagmhála
(a) Ainmneoidh gach ball údarás iomchuí a bhféadfaidh an Ghníomhaireacht dul i dteagmháil leis i ndáil le haon ní a éireoidh faoin gCoinbhinsiún seo. Féadfaidh an Ghníomhaireacht glacadh leis gur ráitis ón mball aon ráitis ón údarás sin. Má iarrann ball amhlaidh rachaidh an Ghníomhaireacht i gcomhairle leis an mball sin maidir le nithe a ndéileáiltear leo in Airteagail 19 go 21 agus a bhaineann le heintitis nó árachóirí de chuid an bhaill sin.
(b) Aon uair is gá formheas a fháil ó aon bhall sula bhféadfaidh an Ghníomhaireacht aon bheart a dhéanamh, measfar formheas a bheith tugtha mura ndéanfaidh an ball agóid laistigh de cibé tréimhse réasúnach a shocróidh an Ghníomhaireacht an tráth a gcuirfidh sí in iúl don bhall go bhfuil beartaithe aici an beart sin a dhéanamh.
CAIBIDIL VI
Vótáil, Coigeartú Suibscríobhanna agus Ionadaíocht
Airteagal 39. Vótáil agus Coigeartú Suibscríobhanna
(a) D'fhonn foráil do chomhshocraíochtaí vótála a léireoidh go bhfuil leas comhionann sa Ghníomhaireacht ag an dá Earnáil Stát atá liostaithe i Sceideal A a ghabhann leis an gCoinbhinsiún seo, chomh maith leis an tábhacht atá le rannpháirteachas airgeadais gach baill, beidh ag gach ball 177 vóta ballraíochta móide vóta suibscríbh amháin in aghaidh gach scair stoic atá á sealbhú ag an mball sin.
(b) Más rud é, tráth ar bith laistigh de thrí bliana tar éis don Choinbhinsiún seo teacht i bhfeidhm, gur lú ná daichead faoin gcéad den chumhacht iomlán vótála suim chomhiomlán na vótaí ballraíochta agus suibscríbh de chuid ball a bhaineann le ceachtar den dá Earnáil Stát atá liostaithe i Sceideal A a ghabhann leis an gCoinbhinsiún seo, beidh ag na baill den Earnáil sin cibé uimhir de vótaí forlíontacha is gá chun go mbeidh cumhacht chomhiomlán vótála na hEarnála comhionann leis an gcéatadán sin den chumhacht iomlán vótála. Déanfar na vótaí forlíontacha sin a dháileadh i measc na mball den Earnáil sin sa chomhréir chéanna atá idir vótaí suibscríbh gach baill agus comhiomlán na vótaí suibscríbh san Earnáil. Beidh na vótaí forlíontacha sin faoi réir a gcoigeartaithe go huathoibríoch chun a áirithiú go gcothabhálfar an céatadán sin agus cealófar iad i ndeireadh na tréimhse trí bliana sin a luadh.
(c) Le linn an tríú bliain tar éis don Choinbhinsiún seo a theacht i bhfeidhm, déanfaidh an Chomhairle athbhreithniú ar leithroinnt na scaireanna agus beidh na prionsabail seo a leanas mar threoir aici le linn di cinneadh a dhéanamh:
(i) léireoidh vótaí na mball na suibscríobhanna a rinneadh iarbhír le caipiteal na Gníomhaireachta agus na vótaí ballraíochta mar atá leagtha amach in Alt (a) den Airteagal seo;
(ii) déanfar scaireanna a leithroinneadh ar thíortha nach mbeidh an Coinbhinsiún sínithe acu a chur ar fáil lena n-athleithroinnt ar cibé baill agus i cibé slí a fhágfaidh go bhféadfaidh comhionannas vótaíochta a bheith ann idir na hEarnálacha sin a luadh; agus
(iii) glacfaídh an Chomhairle bearta chun gur fusa do bhaill suibscríobh le scaireanna a leithroinnfear orthu.
(d) Laistigh den tréimhse trí bliana dá bhforáiltear in Alt (b) den Airteagal seo, is le tromlach speisialta a ghlacfar cinntí uile na Comhairle agus an Bhoird, ach amháin go ndéanfar cinntí dar gá tromlach níos airde faoin gCoinbhinsiún seo, a ghlacadh leis an tromlach níos airde sin.
(e) I gcás go méadófar stoc caipitiúil na Gníomhaireachta de bhun Alt (c) d'Airteagal 5, beidh gach ball a iarrann amhlaidh údaraithe chun cion den mhéadú a shuibscríobh a bheidh comhionann leis an gcionmhaireacht atá idir an stoc a bheidh suibscríofa aige go dtí sin agus stoc caipitiúil iomlán na Gníomhaireachta, ach ní bheidh aon bhall faoi oibleagáid aon chuid den chaipiteal méadaithe a shuibscríobh.
(f) Eiseoidh an Chomhairle rialacháin i dtaobh suibscríobhanna breise a dhéanamh faoi Alt (e) den Airteagal seo. Forordóidh na rialacháin sin teorainneacha ama réasúnacha maidir le baill do chur isteach iarratais chun suibscríobhanna den sórt sin a dhéanamh.
Airteagal 40. Vótáil sa Chomhairle
(a) Beidh gach Rialtóir i dteideal vótaí an bhaill dar ionadaí é a chaitheamh. Ach amháin mar a shonraítear a mhalairt sa Choinbhinsiún seo, is le tromlach na vótaí a chaithfear a ghlacfaidh an Chomhairle cinntí.
(b) Is é is córam d'aon chruinniú den Chomhairle tromlach na Rialtóirí a fheidhmeoidh cuid nach lú ná dhá thrian den chumhacht iomlán vótála.
(c) Féadfaidh an Chomhairle, le rialachán, nós imeachta a bhunú trína bhféadfaidh an Bord, aon uair is dóigh leis gurb é leas na Gníomhaireachta déanamh amhlaidh, cinneadh a lorg ón gComhairle ar cheist shonrach gan cruinniú den Chomhairle a ghairm.
Airteagal 41. Stiúrthóirí a Thoghadh
(a) Is de réir Sceideal B a thoghfar Stiúrthóirí.
(b) Fanfaidh Stiúrthóirí in oifig go dtí go dtoghfar a gcomharbaí. Má éiríonn oifig Stiúrthóra folamh breis agus nócha lá roimh dhéireadh a théarma, toghfar Stiúrthóir eile le haghaidh ha coda eile den téarma ag na Rialtóirí a thogh an Stiúrthóir roimhe sin. Chun toghadh a dhéanamh teastóidh tromlach na vótaí a chaithfear. Fad a bheidh an oifig folamh, feidhmeoidh Malartach an duine a bhí ina Stiúrthóir cumhachtaí an Stiúrthóra sin, ach amháin an chumhacht chun Malartach a cheapadh.
Airteagal 42. Vótáil sa Bhord
(a) Beidh gach Stiúrthóir i dteideal an líon vótaí a chaitheamh atá ag na baill ar áiríodh a vótaí chun a thofa. Is mar aonad a chaithfear na vótaí uile a bhfuil Stiúrthóir i dteideal iad a chaitheamh. Ach amháin mar a shonraítear a mhalairt sa Choinbhinsiún seo, is le tromlach na vótaí a chaithfear a ghlacfaidh an Bord cinntí.
(b) Is é is córam do chruinniú den Bhord tromlach na Rialtóirí a fheidhmeoidh cuid nach lú ná leath na cumhachta iomláine vótála.
(c) Féadfaidh an Bord, le rialachán, nós imeachta a bhunú trína bhféadfaidh a Chathaoirleach, aon uair is dóigh leis gurb é leas na Gníomhaireachta déanamh amhlaidh, cinneadh a lorg ón mBord ar cheist shonrach gan cruinniú den Bhord a ghairm.
CAIBIDIL VII
Pribhléidí agus Díolúintí
Airteagal 43. Cuspóirí na Caibidle
Ionas go bhféadfaidh an Ghníomhaireacht a feidhmeanna a chomhall, déanfar na díolúintí agus na pribhléidí atá leagtha amach sa Chaibidil seo a thabhairt don Ghníomhaireacht i gcríocha gach baill.
Airteagal 44. Próis Dlí
Ní cead caingne, ach amháin caingne a thagann faoi réim Airteagail 57 agus 58, a thabhairt i gcoinne na Gníomhaireachta ach amháin i gcúirt dlínse inniúla i gcríocha baill ina bhfuil oifig ag an nGníomhaireacht nó ina bhfuil gníomhaire ceaptha aici chun glacadh le seirbheáil nó fógra próise. Ní thabharfar caingean den sórt sin i gcoinne na Gníomhaireachta (i) ag baill nó ag daoine a bheidh ag gníomhú thar ceann ball nó ag gabháil éileamh uathu nó (ii) i leith cúrsaí pearsanra. Beidh ag maoin agus sócmhainní na Gníomhaireachta, cibé áit a mbeidh agus cibé duine ag a mbeidh an céanna, díolúine ó urghabháil, astú nó forghníomhú de gach cineál sula mbeidh an breithiúnas nó an dámhachtain chríochnaitheach tugtha i gcoinne na Gníomhaireachta.
Airteagal 45. Sócmhainní
(a) Beidh ag maoin agus sócmhainní na Gníomhaireachta, cibé áit a mbeidh agus cibé duine ag a mbeidh an céanna, díolúine ó chuardach, foréileamh, coigistiú, díshealbhú nó aon sórt eile urghabhála trí ghníomhú feidhmiúcháin nó gníomhú reachtach.
(b) A mhéid is gá sin chun a cuid oibríochtaí a sheoladh faoin gCoinbhinsiún seo, beidh maoin agus sócmhainní uile na Gníomhaireachta saor ó shrianta, rialacháin, rialuithe agus moratoria de chineál ar bith; ar choinníoll go mbeidh maoin agus sócmhainní a gheobhaidh an Ghníomhaireacht mar chomharba nó seachaí sealbhóra ráthaíochta, eintitis athárachaithe nó infheisteora atá árachaithe ag eintiteas athárachaithe, saor ó shrianta, rialacháin agus rialuithe infheidhme a bheidh i bhfeidhm, maidir le hiomlaoid eachtrach, i gcríocha an bhaill lena mbaineann, sa mhéid go raibh an sealbhóir, an t-eintiteas nó an t-infheisteoir ar seachaíodh an Ghníomhaireacht chuige i dteideal an chóir sin a fháil.
(c) Chun críocha na Caibidle seo, folóidh “sócmhainní” sócmhainní de chuid an Chiste Iontaobhais Coimircíochta dá dtagraítear in Iarscríbhinn I a ghabhann leis an gCoinbhinsiún seo agus sócmhainní eile a ndéanann an Ghníomhaireacht riaradh orthu chun a haidhm a chur chun cinn.
Airteagal 46. Cartlanna agus Cumarsáidí
(a) Beidh cartlanna na Gníomhaireachta dosháraithe, cibé áit a mbeidh siad.
(b) Gheobhaidh cumarsáidí oifigiúla na Gníomhaireachta an chóir chéanna ó gach ball a fhaigheann cumarsáidí oifigiúla an Bhainc.
Airteagal 47. Cánacha
(a) Beidh an Ghníomhaireacht, a sócmhainní, a maoin agus a hioncam, agus na hoibríochtaí agus na hidirbhearta dá cuid a údaraítear leis an gCoinbhinsiún seo, díolmhaithe ó gach cáin agus ó gach dleacht custam. Beidh díolúine freisin ag an nGníomhaireacht ó dhliteanas maidir le bailiú nó íoc aon chánach nó dleachta.
(b) Ach amháin i gcás náisiúnaigh áitiúla, ní thoibheofar aon cháin ar liúntais chaiteachais, nó i leith liúntas caiteachais, a íocfaidh an Ghníomhaireacht le Stiúrthóirí nó lena Malartaigh, ná ar thuarastail, liúntais chaiteachais nó díolaíochtaí eile, nó i leith an chéanna, a íocfaidh an Ghníomhaireacht le Cathaoirleach an Bhoird, le Stiúrthóirí, lena Malartaigh, leis an Uachtarán nó le foireann na Gníomhaireachta.
(c) Ní thoibheofar cánachas de chineál ar bith ar aon infheistíocht a ráthóidh nó a athárachóidh an Ghníomhaireacht (lena n-áirítear aon tuillimh uaithi) ná ar aon pholasaithe árachais a athárachóidh an Ghníomhaireacht (lena n-áirítear aon phréimheanna nó ioncaim eile uathu) cibé duine ag a mbeidh siad: (i) más cánachas é a dhéanann idirdhealú i gcoinne na hinfheistíochta sin nó an pholasaí árachais sin de bhrí amháin go bhfuil sí nó sé ráthaithe nó athárachaithe ag an nGníomhaireacht; nó (ii) más é an t-aon bhonn dlínsiúil a bheidh leis an gcánachas sin suíomh aon oifige nó áite gnó a bheidh á cothabháil ag an nGníomhaireacht.
Airteagal 48. Feidhmeannaigh de chuid na Gníomhaireachta
Maidir le gach Rialtóir, Stiúrthóir agus Malartach de chuid na Gníomhaireachta, agus maidir le hUachtarán agus foireann na Gníomhaireachta:
(i) beidh díolúine acu ó phróis dlí i leith gníomhartha a dhéanfaidh siad ina gcáil oifigiúil;
(ii) nuair nach náisiúnaigh áitiúla iad, tabharfar dóibh na díolúintí céanna ó shrianta inimirce, ceanglais chlár úcháin d'eachtrannaigh agus oibleagáidí seirbhíse náisiúnta, agus na saoráidí céanna i leith srianta iomlaoide, a thugann na baill lena mbaineann d'ionadaithe, d'fheidhmeannaigh agus d'fhostaithe comhchéime de cuid na mball eile; agus
(iii) tabharfar an chóir chéanna dóibh i leith saoráidí taistil a thugann na baill lena mbaineann d'ionadaithe, d'fheidhmeannaigh agus d'fhostaithe comhchéime de chuid na mball eile.
Airteagal 49. An Chaibidil seo a fheidhmiú
Déanfaidh gach ball cibé beart is gá ina chríocha féin chun éifeacht i dtéarmaí a dhlí féin a thabhairt do na prionsabail atá leagtha amach sa Chaibidil seo agus tabharfaidh sé mionchuntas don Ghníomhaireacht ar an mbeart a rinne sé.
Airteagal 50. Tarscaoileadh
Is chun leasa na Gníomhaireachta a thugtar na díolúintí, na heisceachtaí agus na pribhléidí a chuirtear ar fáil leis an gCaibidil seo agus féadfar iad a tharscaoileadh, a mhéid agus ar cibé coinníollacha a chinnfidh an Ghníomhaireacht, i gcásanna nach rachadh tarscaoileadh den sórt sin chun dochair dá leasanna. Tarscaoilfidh an Ghníomhaireacht díolúine aon duine dá foireann i gcásanna inarb é a tuairim go mbacfadh an díolúine cúrsa an cheartais agus gur féidir í a tharscaoileadh gan dochar do leasanna na Gníomhaireachta.
CAIBIDIL VIII
Éirí As, Ballraíocht a Fhionraí agus Scor d'Oibríochtaí
Airteagal 51. Éirí As
Féadfaidh aon bhall, tar éis trí bliana a bheith caite ón dáta ar ar tháinig an Coinbhinsiún seo i bhfeidhm maidir leis an mball sin, éirí as an nGníomhaireacht tráth ar bith trí fhógra i scríbhinn a thabhairt don Ghníomhaireacht ag a príomh-oifig. Cuirfidh an Ghníomhaireacht in iúl don Bhanc, mar thaisclann don Choinbhinsiún seo, go bhfuair sí an fógra sin. Tiocfaidh aon éirí-as in éifeacht nócha lá tar éis an dáta a bhfaighidh an Ghníomhaireacht an fógra sin. Féadfaidh ball fógra den sórt sin a tharraingt siar fad nach mbeidh sé tagtha in éifeacht.
Airteagal 52. Ballraíocht a fhionraí
(a) Má mhainníonn ball aon oibleagáid dá chuid faoin gCoinbhinsiún seo a chomhlíonadh, féadfaidh an Chomhairle, le tromlach dá baill a fheidhmeoidh tromlach den chumhacht iomlán vótála, ballraíocht an bhaill sin a fhionraí.
(b) Fad a bheidh sé ar fionraí ní bheidh aon chearta ag ball faoin gCoinbhinsiún seo, ach amháin an ceart éirí as agus na cearta eile dá bhforáiltear sa Chaibidil seo agus i gCaibidil IX, ach beidh sé fós faoi réir a chuid oibleagáidí uile.
(c) D'fhonn cáilitheacht le haghaidh ráthaíochta nó athárachais a bheidh le heisiúint faoi Chaibidil III nó Iarscríbhinn I a ghabhann leis an gCoinbhinsiún seo a chinneadh, ní dhéileálfar le ball a bheidh ar fionraí mar bhall den Ghníomhaireacht.
(d) Scoirfidh an ball a bheidh ar fionraí de bheith air sin ina bhall bliain amháin tar éis dháta a fhionraí mura gcinnfidh an Chomhairle an tréimhse fionraíochta a fhadú nó dea-stádas a thabhairt ar ais don bhall.
Airteagal 53. Cearta agus Dualgais Stát a scoirfidh de bheith ina mBaill
(a) Nuair a scoirfidh Stát de bheith ina bhall, leanfaidh sé de bheith faoi dhliteanas i leith a oibleagáidí go léir, lena n-áirítear a oibleagáidí teagmhasacha, faoin gCoinbhinsiún seo a bhí in éifeacht sular scoir sé de bheith ina bhall.
(b) Gan dochar d'Alt (a) thuas, déanfaidh an Ghníomhaireacht comhshocraíocht leis an Stát sin maidir le socrú a n-éileamh agus a n-oibleagáidí faoi seach. Formheasfaidh an Bord aon chomhshocraíocht den sórt sin.
Airteagal 54. Oibríochtaí a fhionraí
(a) Féadfaidh an Bord, aon uair is dóigh leis gur cóir déanamh amhlaidh, eisiúint ráthaíochtaí nua a fhionraí go ceann tréimhse sonraithe.
(b) I gcás éigeandála, féadfaidh an Bord gníomhaíochtaí uile na Gníomhaireachta a fhionraí go ceann tréimhse nach faide ná ré na héigeandála, ar choinníoll go ndéanfar na comh shocraíochtaí is gá chun leasanna na Gníomhaireachta agus leasanna tríú páirtithe a chosaint.
(c) Má chinntear ar oibríochtaí a fhionraí, ní bheidh aon éifeacht aige sin ar oibleagáidí na mball faoin gCoinbhinsiún seo ná ar oibleágáidí na Gníomhaireachta i leith sealbhóirí ráthaíochta nó polasaí athárachais ná i leith tríú páirtithe.
Airteagal 55. Leachtú
(a) Féadfaidh an Chomhairle a chinneadh, trí thromlach speisialta, scor d'oibríochtaí agus an Ghníomhaireacht a leachtú. Scoirfidh an Ghníomhaireacht air sin dá gníomhaíochtaí uile, ach amháin iad siúd a bhaineann le sócmhainní a réadú, a chothabháil agus a chaomhnú go hordúil agus le hoibleagáidí a shocrú. Go dtí go ndéanfar socrú críochnaitheach agus go ndáilfear sócmhainní, beidh an Ghníomhaireacht fós ar marthain agus ní bheidh aon laghdú ar chearta agus oibleagáidí uile ball faoin gCoinbhinsiún seo.
(b) Ní dhéanfar aon dáileadh sócmhainní ar bhaill go dtí go mbeidh na dliteanais uile i leith sealbhóirí ráthaíochtaí agus i leith creidiúnaithe eile urscaoilte nó go dtí go mbeidh foráil déanta chuige sin, agus go dtí go mbeidh sé cinnte ag an gComhairle dáileadh den sórt sin a dhéanamh.
(c) Faoi réir an méid sin roimhe seo, déanfaidh an Ghníomhaireacht na sócmhainní a bheidh fágtha aici a dháileadh ar bhaill i gcomhréir le scair gach baill sa chaipiteal suibscríofa. Déanfaidh an Ghníomhaireacht freisin aon sócmhainní a bheidh fágtha sa Chiste Iontaobhais Coimircíochta dá dtagraítear in Iarscríbhinn I a ghabhann leis an gCoinbhinsiún seo a dháileadh ar bhaill choimirceacha sa chomhréir a bheidh idir na hinfheistíochtaí a ndearna gach ball acu coimircíocht orthu agus na hinfheistíochtaí go léir atá faoi choimirce. Ní bheidh aon bhall i dteideal a scair de shócmhainní na Gníomhaireachta nó an Chiste Iontaobhais Coimircíochta a fháil mura mbeidh éilimh neamhíoctha uile na Gníomhaireachta i gcoinne an bhaill sin, íoctha aige. Is ag cibé tráthanna a chinnfidh an Chomhairle, agus i cibé modh is dóigh léi a bheith cóir agus cothrom, a dhéanfar gach dáileadh sócmhainní.
CAIBIDIL IX
Díospóidí a Shocrú
Airteagal 56. Léiriú agus Feidhmiú an Choinbhinsiúin
(a) Aon cheist a éireoidh idir aon bhall den Ghníomhaireacht agus an Ghníomhaireacht, nó idir baill den Ghníomhaireacht, maidir le léiriú nó feidhmiú fhorálacha an Choinbhinsiúin seo, cuirfear faoi bhráid an Bhoird í le cinneadh a dhéanamh uirthi. Aon bhall a ndéanann an cheist difear go háirithe dó agus nach bhfuil, thairis sin, náisiúnach dá chuid ag feidhmiú ar a shon ar an mBord, féadfaidh sé ionadaí a chur chun freastal ar aon chruinniú den Bhord ag a mbreithneofar an cheist sin.
(b) In aon chás ina mbeidh cinneadh tugtha ag an mBord faoi Alt (a) thuas, féadfaidh aon bhall a cheangal go gcuirfí an cheist faoi bhráid na Comhairle, agus is cinneadh críochnaitheach a bheidh ina cinneadhsan. Go dtí go mbeidh toradh ann ar cheist a cuireadh faoi bhráid na Comhairle féadfaidh an Ghníomhaireacht, a mhéid is dóigh léi is gá, gníomhú de réir chinneadh an Bhoird.
Airteagal 57. Díospóidí idir an Ghníomhaireacht agus Baill
(a) Gan dochar d'fhorálacha Airteagal 56 agus d'fhorálacha Alt (b) den Airteagal seo, déanfar aon díospóid idir an Ghníomhaireacht agus ball nó gníomhaireacht dá chuid, agus aon díospóid idir an Ghníomhaireacht agus tír (nó gníomhaireacht de chuid na tíre) atá scortha de bheith ina ball, a shocrú de réir an nós imeachta atá leagtha amach in Iarscríbhinn II a ghabhann leis an gCoinbhinsiún seo.
(b) Déanfar aon díospóidí maidir le héilimh de chuid na Gníomhaireachta ag gníomhú di mar sheachaí de chuid infheisteora a shocrú (i) de réir an nós imeachta atá leagtha amach in Iarscríbhinn II a ghabhann leis an gCoinbhinsiún seo, nó (ii) de réir chomhaontú a dhéanfar idir an Ghníomhaireacht agus an ball lena mbaineann maidir le modh malartach, nó modhanna malartacha, chun díospóidí den sórt sin a shocrú. Sa chás deiridh sin, beidh Iarscríbhinn II a ghabhann leis an gCoinbhinsiún seo mar bhonn do chomhaontú den sórt sin agus, i ngach cás, déanfaidh an Bord, le tromlach speisialta, comhaontú den sórt sin a fhormheas sula rachaidh an Ghníomhaireacht i mbun oibríochtaí i gcríocha an bhaill lena mbaineann.
Airteagal 58. Díospóidí a bhfuil Sealbhóirí ráthaíochta nó Athárachais páirteach iontu
Aon díospóid a éireoidh, faoi chonradh ráthaíochta nó athárachais, idir na páirtithe sa chonradh sin cuirfear chun eadrána í lena cinneadh go críochnaitheach de réir cibé rialacha a mbeidh foráil nó tagairt déanta dóibh sa chonradh ráthaíochta nó athárachais.
CAIBIDIL X
Leasuithe
Airteagal 59. Leasú ag an gComhairle
(a) Féadfar an Coinbhinsiún seo agus na hIarscríbhinní a ghabhann leis a leasú le vóta ó thrí chúigiú de na Rialtóirí a fheidhmeoidh ceithre chúigiú den chumhacht iomlán vótála, ar choinníoll:
(i) nach mór vóta dearfach ó na Rialtóirí go léir le haghaidh leasú ar bith a mhodhnóidh an ceart éirí as an nGníomhaireacht dá bhforáiltear in Airteagal 51 nó an teorainn le dliteanas dá bhforáiltear in Alt (d) d'Airteagal 8; agus
(ii) i gcás aon leasú a mhodhnóidh an chomhshocraíocht um páirtiú i gcaillteanais dá bhforáiltear in Airteagail 1 agus 3 d'Iarscríbhinn I a ghabhann leis an gCoinbhinsiún seo, agus a mbeidh de thoradh air go méadófar dliteanas aon bhaill faoin gcomhshocraíocht sin, nach mór vóta dearfach ó Rialtóir gach baill den sórt sin.
(b) Féadfaidh an Chomhairle, le tromlach speisialta, Sceidil A agus B a ghabhann leis an gCoinbhinsiún seo a leasú.
(c) Má dhéanann leasú difear d'aon fhoráil de chuid Iarscríbhinn I a ghabhann leis an gCoinbhinsiún seo, áireofar ar iomlán na vótaí na vótaí breise a bheidh leithroinnte faoi Airteagal 7 den Iarscríbhinn sin ar bhaill choimircíochta agus ar thíortha is tíortha ósta d'infheistíochtaí faoi choimirce.
Airteagal 60. Nós Imeachta
Aon mholadh chun an Coinbhinsiún seo a leasú, cibé acu an ó bhall, ó Rialtóir nó ó Stiúrthóir é, tabharfar do Chathaoirleach an Bhoird é agus cuirfidh seisean an moladh os comhair an Bhoird. Má thacaíonn an Bord leis an leasú a mholfar, cuirfear faoi bhráid na Comhairle é lena fhormheas de réir Airteagal 59. Nuair a bheidh leasú formheasta go cuí ag an gComhairle, deimhneoidh an Ghníomhaireacht an méid sin trí chumarsáid fhoirmiúil a bheidh dírithe chuig na baill uile. Tiocfaidh leasuithe i bhfeidhm i leith gach baill nócha lá tar éis dáta na cumarsáide foirmiúla mura sonróidh an Chomhairle dáta eile.
CAIBIDIL XI
Forálacha Críochnaitheacha
Airteagal 61. Teacht i bhfeidhm
(a) Beidh an Coinbhinsiún seo ar oscailt chun a shínithe thar ceann bhaill uile an Bhainc agus thar ceann na hEilvéise agus beidh sé faoi réir a dhaingnithe, a ghlactha nó a fhormheasa ag na Stáit shínitheacha de réir a nósanna imeachta bunreachtúla.
(b) Tiocfaidh an Coinbhinsiún seo i bhfeidhm an lá a mbeidh cúig ionstraim dhaingniúcháin, ghlachtha nó fhormheasa, ar a laghad, taiscthe thar ceann Stát sínitheach in Earnáil a hAon, agus cúig ionstraim déag den sórt sin, ar a laghad, taiscthe thar ceann Stát sínitheach in Earnáil a Dó; ar choinníoll nach lú iomlán na suibscríobhanna ó na Stáit sin ná trian de chaipiteal údaraithe na Gníomhaireachta mar a fhorordaítear in Airteagal 5.
(c) Maidir le gach Stát a thaiscfidh a ionstraim dhaingniúcháin, ghlactha nó fhormheasa tar éis don Choinbhinsiún seo teacht i bhfeidhm, tiocfaidh an Coinbhinsiún seo i bhfeidhm ina leith ar dháta an taiscthe sin.
(d) Mura mbeidh an Coinbhinsiún seo tagtha i bhfeidhm laistigh de dhá bhliain tar éis é a oscailt chun a shínithe, tionólfaidh Uachtarán an Bhainc comhdháil de thíortha leasmhara chun a chinneadh conas ba chóir gníomhú sa todhchaí.
Airteagal 62. Cruinniú Tionscnaimh
Ar an gCoinbhinsiún seo do theacht i bhfeidhm, gairfidh Uachtarán an Bhainc cruinniú tionscnaimh na Comhairle. Seolfar an cruinniú sin ag príomh-oifig na Gníomhaireachta laistigh de sheasca lá ón dáta ar ar tháinig an Coinbhinsiún seo i bhfeidhm nó a luaithe is féidir dá éis sin.
Airteagal 63. Taisclann
Déanfar ionstraimí daingniúcháin, glactha nó formheasa an Choinbhinsiúin seo, agus leasuithe ar an gcéanna, a thaisceadh leis an mBanc agus is é an Banc a ghníomhóidh mar thaisclann don Choinbhinsiún seo. Cuirfidh an taisclann cóipeanna deimhnithe den Choinbhinsiún seo chuig Stáit is baill den Bhanc agus chuig an Eilvéis.
Airteagal 64. Clárú
Cláróidh an taisclann an Coinbhinsiún seo le Rúnaíocht na Náisiún Aontaithe de réir Airteagal 102 de Chairt na Náisiún Aontaithe agus na Rialachán faoin gcéanna lenar ghlac an Comhthionól.
Airteagal 65. Fógra a thabhairt
Tabharfaidh an taisclann fógra do na Stáit sínitheacha go léir agus, ar an gCoinbhinsiún seo do theacht i bhfeidhm, don Ghníomhaireacht, i dtaobh na nithe seo a leanas:
(a) sínithe an Choinbhinsiúin seo;
(b) taisceadh ionstraimí daingniúcháin, glactha agus formheasa de réir Airteagal 63;
(c) an dáta a dtagann an Coinbhinsiún seo i bhfeidhm de réir Airteagal 61;
(d) eisiatachtaí ó fheidhm maidir le críocha de bhun Airteagal 66; agus
(e) ball d'éirí as an nGníomhaireacht de bhun Airteagal 51.
Airteagal 66. Feidhm maidir le Críocha
Beidh feidhm ag an gCoinbhinsiún seo maidir leis na críocha go léir atá faoi dhlínse baill, lena n-áirítear na críocha a bhfuil ball freagrach ina gcaidreamh idirnáisiúnta, seachas críocha a ndéanann an ball sin iad a eisiamh trí fhógra i scríbhinn a thabhairt do thaisclann an Choinbhinsiúin seo tráth daingnithe, glactha nó formheasa, nó tráth dá éis sin.
Airteagal 67. Athbhreithnithe Tréimhsiúla
(a) Déanfaidh an Chomhairle athbhreithnithe cuimsitheacha tréimhsiúla ar ghníomhaíochtaí na Gníomhaireachta agus ar na torthaí a bheidh gnóthaithe aici d'fhonn aon athruithe is gá a thabhairt isteach chun cur le cumas na Gníomhaireachta a cuid aidhmeanna a shaothrú.
(b) Déanfar an chéad athbhreithniú den sórt sin cúig bliana tar éis don Choinbhinsiún seo a theacht i bhfeidhm. Cinnfidh an Chomhairle dátaí na n-athbhreithnithe dá éis sin.
ARNA DHÉANAMH i Seoul, in aon chóip amháin a fhanfaidh i dtaisce i gcartlanna an Bhainc Idirnáisiúnta Athfhoirgníochta agus Forbartha, a léirigh trína shíniú anseo thíos go dtoilíonn sé na feidhmeanna a chuirtear de chúram air faoin gCoinbhinsiún seo a chomhlíonadh.
IARSCRÍBHINN I
Infheistíochtaí faoi Choimirce a Ráthú faoi Airteagal 24
Airteagal 1. Coimircíocht
(a) Féadfaidh aon bhall infheistíocht a choimirciú le haghaidh ráthaíochta ar infheistíocht í a bheidh le déanamh ag infheisteoir de náisiúntacht ar bith nó ag infheisteoirí de náisiúntachtaí ar bith nó de náisiúntachtaí éagsúla.
(b) Faoi réir fhorálacha Ailt (b) agus (c) d'Airteagal 3 den Iarscríbhinn seo, páirteoidh gach ball coimirceach leis na baill choimirceacha eile i gcaillteanais faoi ráthaíochtaí um infheistíochtaí faoi choimirce, nuair nach féidir agus a mhéid nach féidir na caillteanais sin a chumhdach as an gCiste Iontaobhais Coimircíochta dá dtagraítear in Airteagal 2 den Iarscríbhinn seo, sa chomhréir chéanna a bheidh idir uasmhéid an dliteanais theagmhasaigh faoi na ráthaíochtaí um infheistíochtaí atá faoi choimirce an bhaill sin agus uasmhéid iomlán an dliteanais theagmhasaigh faoi na ráthaíochtaí um infheistíochtaí atá faoi choimirce na mball uile.
(c) Le linn di cinneadh a dhéanamh maidir le heisiúint ráthaíochtaí faoin Iarscríbhinn seo, beidh aird chuí ag an nGníomhaireacht ar an dóchúlacht go mbeidh an ball coimirceach in ann freastal dá oibleagáidí faoin Iarscríbhinn seo agus tabharfaidh sí tosaíocht d'infheistíochtaí a bheidh faoi chomhchoimirce na dtíortha ósta lena mbaineann.
(d) Rachaidh an Ghníomhaireacht i gcomhairle go tréimhsiúil le baill choimirceacha maidir lena cuid oibríochtaí faoin Iarscríbhinn seo.
Airteagal 2. An Ciste Iontaobhais Coimircíochta
(a) Déanfar préimheanna agus ioncaim eile is inchurtha i leith ráthaíochtaí um infheistíochtaí faoi choimirce, lena n-áirítear ioncaim as na préimheanna agus na hioncaim sin a infheistiú, a choimeád i gcuntas ar leith ar a dtabharfar an Ciste Iontaobhais Coimircíochta.
(b) Is as an gCiste Iontaobhais Coimircíochta a íocfar na caiteachais riaracháin go léir agus gach íocaíocht ar éilimh is inchurtha i leith ráthaíochtaí a eisíodh faoin Iarscríbhinn seo.
(c) Déanfar sócmhainní an Chiste Iontaobhais Coimircíochta a shealbhú agus a riaradh le haghaidh chomhchuntas na mball coimirceach agus coimeádfar scartha agus ar leith ó shócmhainní na Gníomhaireachta iad.
Airteagal 3. Glaonna ar Bhaill Choimirceacha
(a) A mhéid a bheidh aon mhéid iníoctha ag an nGníomhaireacht mar gheall ar chaillteanas faoi ráthaíocht faoi choimirce agus nach féidir an méid sin a íoc as sócmhainní an Chiste Iontaobhais Coimircíochta, glaofaidh an Ghníomhaireacht ar gach ball coimirceach chun a scair den mhéid sin, arna chinneadh de réir Alt (b) d'Airteagal 1 den Iarscríbhinn seo, a íoc isteach sa Chiste sin.
(b) Ní dhlífear ar aon bhall aon mhéid a íoc ar ghlao de bhun fhorálacha an Airteagail seo más mó dá bharr sin iomlán na n-íocaíochtaí arna ndéanamh ag an mball sin ná méid iomlán na ráthaíochtaí a chumhdaíonn infheistíochtaí atá faoina choimirce.
(c) Ar dhul in éag d'aon ráthaíocht a chumhdaíonn infheistíocht atá faoi choimirce baill, déanfar dliteanas an bhaill sin a laghdú de mhéid is ionann agus méid na ráthaíochta sin; laghdófar an dliteanas sin freisin ar bhonn pro rata ar an nGníomhaireacht d'íoc aon éilimh a bhaineann le hinfheistíocht faoi choimirce agus thairis sin leanfaidh sé in éif eacht go dtí go mbeidh deireadh leis na ráthaíochtaí uile um infheistíochtaí faoi choimirce a bheidh amuigh tráth na híocaíochta sin.
(d) Más rud é nach ndlífidh ball coimirceach méid a íoc ar ghlao de bhun fhorálacha an Airteagail seo mar gheall ar an teorainn atá in Ailt (b) agus (c) thuas, nó má mhainníonn aon bhall coimirceach méid a íoc a bheidh dlite chun freagairt d'aon ghlao den sórt sin, déanfar an dliteanas i leith an méid sin a íoc a roinnt pro rata idir na baill choimirceacha eile. Beidh dliteanas na mball de bhun an Ailt seo faoi réir na teorann atá leagtha amach in Ailt (b) agus (c) thuas.
(e) Aon íocaíocht ag ball coimirceach de bhun glao de réir an Airteagail seo, déanfar go pras í in airgeadra is inúsáidte go héasca.
Airteagal 4. Luacháil Airgeadraí agus Aisíocaíochtaí
Na forálacha maidir le luacháil airgeadraí agus aisíocaíochtaí atá sa Choinbhinsiún seo ó thaobh suibscríobhanna caipitiúla de, cuirfear i bhfeidhm iad, mutatis mutandis, maidir le cistí arna n-íoc ag baill ar cuntas infheistíochtaí faoi choimirce.
Airteagal 5. Athárachas
(a) Féadfaidh an Ghníomhaireacht, faoi na coinníollacha atá leagtha amach in Airteagal 1 den Iarscríbhinn seo, athárachas a chur ar fáil do bhall, do ghníomhaireacht de chuid baill, do ghníomhaireacht réigiúnach mar a mhínítear sin in Alt (a) d'Airteagal 20 den Choinbhinsiún seo nó d'árachóir príobháideach i mballtír. Déanfar forálacha na hIarscríbhinne seo i dtaobh ráthaíochtaí, agus forálacha Airteagail 20 agus 21 den Choinbhinsiún seo, a chur i bhfeidhm mutatis mutandis maidir le hathárachas a chuirfear ar fáil faoin Alt seo.
(b) Féadfaidh an Ghníomhaireacht athárachas a fháil d'infheistíochtaí a bheidh ráthaithe aici faoin Iarscríbhinn seo agus is as an gCiste Iontaobhais Coimircíochta a íocfaidh sí as an athárachas sin. Féadfaidh an Bord a chinneadh an féidir, agus cá mhéid is féidir, oibleagáid na mball coimirceach maidir le páirtiú i gcaillteanais, de réir mar a luaitear in Alt (b) d'Airteagal 1 den Iarscríbhinn seo, a laghdú mar gheall ar an gcumhdach athárachais a bheidh faighte.
Airteagal 6. Prionsabail Oibríochta
Gan dochar d'fhorálacha na hIarscríbhinne seo, déanfar na forálacha maidir le hoibríochtaí ráthaíochta faoi Chaibidil III den Choinbhinsiún seo agus maidir le bainistí airgeadais faoi Chaibidil IV den Choinbhinsiún seo, a chur i bhfeidhm, mutatis mutandis, maidir le ráthaíochtaí um infheistíochtaí faoi choimirce ach amháin (i) go mbeidh na hinfheistíochtaí sin cáilithe le go ndéanfaí coimircíocht orthu má dhéantar iad i gcríocha aon bhaill, agus go háirithe i gcríocha aon bhaill fhorásaigh, agus más infheisteoir nó infheisteoirí atá cáilithe faoi Alt (a) d'Airteagal 1 den Iarscríbhinn seo a dhéanann iad, agus (ii) nach mbeidh an Ghníomhaireacht faoi dhliteanas, maidir lena sócmhainní féin, i leith aon ráthaíochta nó athárachais a eiseofar faoin Iarscríbhinn seo agus go mbeidh an méid sin foráilte go sainráite i ngach conradh ráthaíochta nó athárachais a chuirtear i gcrích de bhun na hIarscríbhinne seo.
Airteagal 7. Vótáil
Maidir le cinntí a bhaineann le hinfheistíochtaí faoi choimirce, beidh vóta breise amháin ag gach ball coimirceach in aghaidh coibhéis gach 10,000 Ceart Tarraingthe Speisialta den mhéid a ráthaíodh nó a athárachaíodh ar bhonn a choimircíochta agus beidh ag gach ball is ball ósta d'infheistíocht faoi choimirce vóta breise amháin in aghaidh coibhéis gach 10,000 Ceart Tarraingthe Speisialta den mhéid a ráthaíodh nó a athárachaíodh maidir le haon infheistíocht faoi choimirce ar ball ósta di é. Ní chaithfear na vótaí breise sin ach amháin i gcás cinntí a bhaineann le hinfheistíochtaí faoi choimirce agus thairis sin ní thabharfar aon aird orthu le linn cumhacht vótála ball a bheith á cinneadh.
IARSCRÍBHINN II
Socrú Díospóidí idir Ball agus an Ghníomhaireacht faoi Airteagal 57
Airteagal 1. Feidhm na hIarscríbhinne
Déanfar gach díospóid a thagann faoi réim Airteagal 57 den Choinbhinsiún seo a shocrú de réir an nós imeachta atá leagtha amach san Iarscríbhinn seo, ach amháin i gcásanna ina mbeidh comhaontú déanta ag an nGníomhaireacht le ball de bhun Alt (b) (ii) d'Airteagal 57.
Airteagal 2. Caibidlíocht
Féachfaidh na páirtithe i ndíospóid a thagann faoi réim na hIarscrí bhinne seo leis an díospóid sin a shocrú trí chaibidlíocht sula lorgóidh siad comhréiteach nó eadráin. Measfar deireadh a bheith tagtha le caibidlí má theipeann ar na páirtithe teacht ar shocrú laistigh de thréimhse céad is fiche lá ón dáta ar iarradh orthu dul i gcaibidlí.
Article 3. Comhréiteach
(a) Mura réiteofar an díospóid trí chaibidlíocht, féadfaidh ceachtar páirtí an díospóid a chur chun eadrána de réir fhorálacha Airteagal 4 den Iarscríbhinn seo, mura mbeidh na páirtithe tar éis a chinneadh, trí chomhthoiliú, go rachaidh siad ar dtús i muinín an nós imeachta comhréitigh dá bhforáiltear san Airteagal seo.
(b) Sa chomhaontú chun dul i muinín comhréitigh sonrófar ábhar na díospóide, éilimh na bpáirtithe ina leith sin agus, má tá fáil air, ainm an chomhréiteora ar ar chomhaontaigh na páirtithe. Cheal comhaontaithe maidir leis an gcomhréiteoir, féadfaidh na páirtithe, i gcomhpháirt, a iarraidh ar Ard-Rúnaí an Lárionaid Idirnáisiúnta chun Díospóidí Infheistíochta a Shocrú (dá ngairtear ICSID anseo feasta) nó ar Uachtarán na Cúirte Breithiúnais Idirnáisiúnta comhréiteoir a cheapadh. Tiocfaidh deireadh leis an nós imeachta comhréitigh mura mbeidh an comhréiteoir ceaptha laistigh de nócha lá tar éis an comhaontú a dhéanamh chun dul i muinín comhréitigh.
(c) Mura bhforálfar dá mhalairt san Iarscríbhinn seo nó mura gcomhaontófar ar a mhalairt idir na páirtithe, is é an comhréiteoir a chinnfidh na rialacha a bhainfidh leis an nós imeachta comhréitigh agus beidh mar threoir aige chuige sin na rialacha comhréitigh a glacadh de bhun an Choinbhinsiúin chun Díospóidí Infheistíochta idir Stáit agus Náisiúnaigh de chuid Stát Eile a Shocrú.
(d) Comhoibreoidh na páirtithe de mheon macánta leis an gcomhréiteoir agus go háirithe tabharfaidh siad dó an fhaisnéis agus na doiciméid go léir a chabhródh leis chun a fheidhmeanna a chomhlíonadh; breithneoidh siad go maith mion na moltaí a dhéanfaidh sé.
(e) Mura gcomhaontóidh na páirtithe ar a mhalairt déanfaidh an comhréiteoir, laistigh de thréimhse nach faide ná céad is ochtó lá ó dháta a cheaptha, tuarascáil a thabhairt do na páirtithe ina sonrófar na torthaí a bhí ar a chuid iarrachtaí agus ina leagfar amach na hábhair is ábhair chonspóide idir na páirtithe agus na moltaí atá aige chun iad a shocrú.
(f) Déanfaidh gach páirtí, laistigh de sheasca lá ón dáta a bhfuair sé an tuarascáil, a thuairimí faoin tuarascáil a chur in iúl i scríbhinn don pháirtí eile.
(g) Ní bheidh ceachtar páirtí i nós imeachta comhréitigh i dteideal dul i muinín eadrána mura rud é:
(i) go mbeidh mainnithe ag an gcomhréiteoir a thuarascáil a thabhairt laistigh den tréimhse a leagtar síos in Alt (e) thuas; nó
(ii) go mbeidh mainnithe ag na páirtithe glacadh leis na moltaí go léir atá sa tuarascáil laistigh de sheasca lá tar éis í a fháil; nó
(iii) go mbeidh mainnithe ag na páirtithe, tar éis a dtuairimí faoin tuarascáil a thabhairt ar aird dá chéile, comhaontú ar shocrú maidir leis na hábhair chonspóide go léir laistigh de sheasca lá tar éis dóibh tuarascáil an chomhréiteora a fháil; nó
(iv) go mbeidh mainnithe ag páirtí a thuairimí faoin tuarascáil a chur in iúl de réir mar a fhorordaítear in Alt (f) thuas.
(h) Mura gcomhaontóidh na páirtithe ar a mhalairt, is ar bhonn na rátaí is infheidhme maidir le comhréiteach ICSID a chinnfear táillí an chomhréiteora. Roinnfear go cothrom idir na páirtithe na táillí sin agus na costais eile a bhaineann leis na himeachtaí comhréitigh. Íocfaidh gach páirtí a chaiteachais féin.
Airteagal 4. Eadráin
(a) Tionscnófar imeachtaí eadrána trí bhíthin fógra ón bpáirtí a bheidh ag iarraidh eadrána (an t-éilitheoir) agus é dírithe chuig an bpáirtí nó na páirtithe eile sa díospóid (an freagróir). Sonrófar san fhógra an cineál díospóide atá ann, an faoiseamh atá á lorg agus ainm an eadránaí a bheidh ceaptha ag an éilitheoir. Déanfaidh an freagróir, laistigh de thríocha lá tar éis dó an fógra a fháil, fógra a thabhairt don éilitheoir ina mbeidh ainm an eadránaí a bheidh ceaptha aigesean. Déanfaidh an dá pháirtí, laistigh de thréimhse tríocha lá ón dáta ar ceapadh an dara eadránaí, tríú eadránaí a roghnú, agus gníomhóidh seisean mar Uachtarán an Bhinse Eadrána (an Binse).
(b) Mura mbeidh an Binse comhdhéanta laistigh de sheasca lá ó dháta an fhógra, déanfaidh Ard-Rúnaí ICSID, ar chomhiarratas ó na páirtithe, an t-eadránaí nach mbeidh ceaptha fós, nó an tUachtarán nach mbeidh roghnaithe fós, a cheapadh. Mura ndéanfar comhiarratas den sórt sin, nó má mhainníonn an tArd-Rúnaí an ceapachán a dhéanamh laistigh de thríocha lá ó dháta an iarratais, féadfaidh ceachtar páirtí a iarraidh ar Uachtarán na Cúirte Breithiúnais Idirnáisiúnta an ceapachán a dhéanamh.
(c) Ní bheidh sé de cheart ag aon pháirtí an t-eadránaí a bheidh ceaptha aige a athrú ón uair a bheidh tús curtha le héisteacht na díospóide. I gcás aon eadránaí (lena n-áirítear Uachtarán an Bhinse) d'éirí as, d'fháil bháis nó d'éirí éagumasaithe, ceapfar comharba sa chaoi chéanna inar ceapadh a réamhtheachtaí agus beidh ag an gcomharba sin na cumhachtaí céanna agus na dualgais chéanna a bhí ag an eadránaí arb é a chomharba é.
(d) Tiocfaidh an Binse le chéile den chéad uair cibé tráth agus i cibé áit a chinnfidh an tUachtarán. Dá éis sin, cinnfidh an Binse féin áit agus dátaí a chuid cruinnithe.
(e) Mura bhforálfar dá mhalairt san Iarscríbhinn seo nó mura gcomhaontófar ar a mhalairt idir na páirtithe, cinnfidh an Binse a nós imeachta féin agus beidh mar threoir aige chuige sin na rialacha eadrána a glacadh de bhun an Choinbhinsiúin chun Díospóidí Infheistíochta idir Stáit agus Náisiúnaigh de chuid Stát Eile a Shocrú.
(f) Is é an Binse a dhéanfaidh meastóireacht ar a inniúlacht féin ach amháin, i gcás ina dtabharfar agóid ar aird os comhair an Bhinse á rá go dtagann an díospóid faoi dhlínse an Bhoird nó na Comhairle faoi Airteagal 56 nó faoi dhlínse comhlachta bhreithiúnaigh nó eadrána a bheidh ainmnithe i gcomhaontú faoi Airteagal 1 den Iarscríbhinn seo agus gur deimhin leis an mBinse go bhfuil bun leis an agóid, go gcuirfidh an Binse an agóid faoi bhráid an Bhoird nó na Comhairle nó an chomhlachta ainmnithe, de réir mar a bheidh, agus cuirfear bac ar na himeachtaí eadrána go dtí go mbeidh cinneadh déanta faoin ábhar, agus beidh an cinneadh sin ina cheangal ar an mBinse.
(g) In aon díospóid a thagann faoi réim na hIarscríbhinne seo cuirfidh an Binse i bhfeidhm forálacha an Choinbhinsiúin seo, aon chomhaontú ábhartha idir na páirtithe sa díospóid, fodhlíthe agus rialacháin na Gníomhaireachta, rialacha infheidhme an dlí idirnáisiúnta, dlí inmheánach an bhaill lena mbaineann mar aon le forálacha infheidhme an chonartha infheistíochta, más ann. Gan dochar d'fhorálacha an Choinbhinsiúin seo féadfaidh an Binse díospóid a chinneadh ex aequo et bono má chomhaontaíonn an Ghníomhaireacht agus an ball lena mbaineann sin a dhéanamh. Ní ceadmhach don Bhinse cinneadh non liquet a dhéanamh ar fhoras tosta nó ar fhoras doiléire an dlí.
(h) Tabharfaidh an Binse éisteacht chóir do na páirtithe go léir. Déanfar cinntí uile an Bhinse trí vóta tromlaigh agus luafar iontu na cúiseanna ar a bhfuil siad bunaithe. Beidh dámhachtain an Bhinse i scríbhinn agus í sínithe ag beirt ar a laghad de na headránaithe agus cuirfear cóip di chuig gach páirtí. Is dámhachtain chríochnaitheach a bheidh sa dámhachtain agus beidh sí ina ceangal ar na páirtithe agus ní bheidh sí faoi réir achomhairc, neamhnithe nó athbhreithnithe.
(i) Má éiríonn aon díospóid idir na páirtithe maidir le brí nó réim aon dámhachtana, féadfaidh ceachtar páirtí, laistigh de sheasca lá tar éis an dámhachtain a bheith déanta, léiriú ar an dámhachtain a iarraidh trí iarratas a dhéanamh i scríbhinn chuig Uachtarán an Bhinse a rinne an dámhachtain. Déanfaidh an tUachtarán, más féidir, an iarraidh a chur faoi bhráid an Bhinse a rinne an dámhachtain agus tionólfaidh sé cruinniú den Bhinse sin laistigh de sheasca lá tar éis dó an t-iarratas a fháil. Mura féidir sin a dhéanamh, comhdhéanfar Binse nua de réir fhorálacha Ailt (a) go (d) thuas. Féadfaidh an Binse bac a chur ar an dámhachtain go dtí go ndéanfaidh sé cinneadh maidir leis an léiriú a iarradh.
(j) Tabharfaidh gach ball aitheantas do dhámhachtain arna déanamh de bhun an Airteagail seo mar dhámhachtain atá ina ceangal agus infhorfheidhmithe ina chríocha ionann is dá mba bhreithiúnas críochnaitheach í ó chúirt sa bhall sin. Beidh forghníomhú na dámhachtana faoi rialú na ndlíthe i dtaobh forghníomhú breithiúnas a bheidh i bhfeidhm sa Stát ar ina chríocha atáthar ag iarraidh an forghníomhú sin a dhéanamh agus ní thabharfaidh sé maolú ar an dlí a bheidh i bhfeidhm maidir le díolúine ó fhorghníomhú.
(k) Mura gcomhaontóidh na páirtithe ar a mhalairt, is ar bhonn na rátaí is infheidhme maidir le headráin ICSID a chinnfear na táillí agus an luach saothair is iníoctha leis na headránaithe. Íocfaidh gach páirtí a chostais féin i ndáil leis na himeachtaí eadrána. Roinnfear costais an Bhinse go comhionannach idir na páirtithe mura gcinnfidh an Binse ar a mhalairt. Is é an Binse a chinnfidh aon cheist i dtaobh costais an Bhinse a roinnt nó i dtaobh an nós imeachta chun na costais sin a íoc.
Airteagal 5. Próis a Sheirbheáil
Is i scríbhinn a sheirbheálfar aon fhógra nó próis i ndáil le haon imeacht faoin Iarscríbhinn seo. Déanfaidh an Ghníomhaireacht an tseirbheáil sin ar an údarás a bheidh ainmnithe ag an mball lena mbaineann de bhun Airteagal 38 den Choinbhinsiún seo agus déanfaidh an ball sin í ag príomh-oifig na Gníomhaireachta.
SCEIDEAL A
Ballraíocht agus Suibscríobhanna
EARNÁIL A hAON
Tír | Líon Scaireanna | Suibscríobh |
(milliún de CTS) | ||
An Astráil | 1,713 | 17.13 |
An Ostair | 775 | 7.75 |
An Bheilg | 2,030 | 20.30 |
Ceanada | 2,965 | 29.65 |
An Danmhairg | 718 | 7.18 |
An Fhionlainn | 600 | 6.00 |
An Fhrainc | 4,860 | 48.60 |
Poblacht Chónaidhme na Gearmáine | 5,071 | 50.71 |
An Íoslainn | 90 | 0.90 |
Éire | 369 | 3.69 |
An Iodáil | 2,820 | 28.20 |
An tSeapáin | 5,095 | 50.95 |
Lucsamburg | 116 | 1.16 |
An Ísiltír | 2,169 | 21.69 |
An Nua-Shéalainn | 513 | 5.13 |
An Iorua | 699 | 6.99 |
An Afraic Theas | 943 | 9.43 |
An tSualainn | 1,049 | 10.49 |
An Eilvéis | 1,500 | 15.00 |
An Ríocht Aontaithe | 4,860 | 48.60 |
Na Stáit Aontaithe | 20,519 | 205.19 |
59,473 | 594.73 |
Tír | Líon Scaireanna | Suibscríobh |
(milliún de CTS) | ||
An Afganastáin | 118 | 1.18 |
An Ailgéir | 649 | 6.49 |
Antigua agus Barbuda | 50 | 0.50 |
An Airgintín | 1,254 | 12.54 |
Na Bahámaí | 100 | 1.00 |
Bairéin | 77 | 0.77 |
An Bhainglaidéis | 340 | 3.40 |
Barbadós | 68 | 0.68 |
An Bheilís | 50 | 0.50 |
Beinin | 61 | 0.61 |
An Bhútáin | 50 | 0.50 |
An Bholaiv | 125 | 1.25 |
An Bhotsuáin | 50 | 0.50 |
An Bhrasaíl | 1,479 | 14.79 |
Burkina Faso | 61 | 0.61 |
Burma | 178 | 1.78 |
An Bhurúin | 74 | 0.74 |
Camarún | 107 | 1.07 |
Rinn Verde | 50 | 0.50 |
Poblacht na hAfraice Láir | 60 | 0.60 |
Sead | 60 | 0.60 |
An tSile | 485 | 4.85 |
An tSín | 3,138 | 31.38 |
An Cholóim | 437 | 4.37 |
Oileáin Chomóra | 50 | 0.50 |
Daon-Phoblacht an Chongo | 65 | 0.65 |
Cósta Ríce | 117 | 1.17 |
An Chipir | 104 | 1.04 |
Djibouti | 50 | 0.50 |
Doiminicea | 50 | 0.50 |
An Phoblacht Dhoiminiceach | 147 | 1.47 |
Eacuadór | 182 | 1.82 |
Poblacht Arabach na hÉigipte | 459 | 4.59 |
An tSalvadóir | 122 | 1.22 |
An Ghuine Mheán-Chriosach | 50 | 0.50 |
An Aetóip | 70 | 0.70 |
Fidsí | 71 | 0.71 |
An Ghabúin | 96 | 0.96 |
An Ghaimbia | 50 | 0.50 |
Gána | 245 | 2.45 |
An Ghréig | 280 | 2.80 |
Grenada | 50 | 0.50 |
Guatamala | 140 | 1.40 |
An Ghuine | 91 | 0.91 |
Guine Bhissau | 50 | 0.50 |
An Ghuáin | 84 | 0.84 |
Háití | 75 | 0.75 |
Hondúras | 101 | 1.01 |
An Ungáir | 564 | 5.64 |
An India | 3,048 | 30.48 |
An Indinéis | 1,049 | 10.49 |
Poblacht Ioslamach na hIaráine | 1,659 | 16.59 |
An Iaráic | 350 | 3.50 |
Iosrael | 474 | 4.74 |
An Cósta Eabhair | 176 | 1.76 |
Iamáice | 181 | 1.81 |
An Iordáin | 97 | 0.97 |
An Champúis Dhaonlathach | 93 | 0.93 |
An Chéinia | 172 | 1.72 |
Poblacht na Cóiré | 449 | 4.49 |
Cuáit | 930 | 9.30 |
Daon-Phoblacht Dhaonlathach Lao | 60 | 0.60 |
An Liobáin | 142 | 1.42 |
Leosóta | 50 | 0.50 |
An Libéir | 84 | 0.84 |
Iamahiriya Arabach na Libia | 549 | 5.49 |
Madagascar | 100 | 1.00 |
An Mhaláiv | 77 | 0.77 |
An Mhalaeisia | 579 | 5.79 |
Oileáin Mhaildíve | 50 | 0.50 |
Mailí | 81 | 0.81 |
Málta | 75 | 0.75 |
An Mháratáin | 63 | 0.63 |
Oileán Mhuirís | 87 | 0.87 |
Meicsiceo | 1,192 | 11.92 |
Maracó | 348 | 3.48 |
Mósaimbíc | 97 | 0.97 |
Neipeal | 69 | 0.69 |
Nicearagua | 102 | 1.02 |
An Nígir | 62 | 0.62 |
An Nigéir | 844 | 8.44 |
Oman | 94 | 0.94 |
An Phacastáin | 660 | 6.60 |
Panama | 131 | 1.31 |
Nua-Ghuine Phapua | 96 | 0.96 |
Paragua | 80 | 0.80 |
Peiriú | 373 | 3.73 |
Na hOileáin Fhilipíneacha | 484 | 4.84 |
An Phortaingéil | 382 | 3.82 |
Catar | 137 | 1.37 |
An Rómáin | 555 | 5.55 |
Ruanda | 75 | 0.75 |
San Críostóir agus Nevis | 50 | 0.50 |
San Lúicia | 50 | 0.50 |
San Uinseann | 50 | 0.50 |
Sao Tome agus Principe | 50 | 0.50 |
An Araib Shádach | 3,137 | 31.37 |
An tSeineagáil | 145 | 1.45 |
Na Séiséil | 50 | 0.50 |
Siarra Leon | 75 | 0.75 |
Singeapór | 154 | 1.54 |
Oileáin Sholamón | 50 | 0.50 |
An tSomáil | 78 | 0.78 |
An Spáinn | 1,285 | 12.85 |
Srí Lanca | 271 | 2.71 |
An tSúdáin | 206 | 2.06 |
Suranam | 82 | 0.82 |
Poblacht Arabach na Siria | 168 | 1.68 |
An tSuasalainn | 58 | 0.58 |
An Tansáin | 141 | 1.41 |
An Téalainn | 421 | 4.21 |
Tóga | 77 | 0.77 |
Oileán na Tríonóide agus Tobága | 203 | 2.03 |
An Túinéis | 156 | 1.56 |
An Tuirc | 462 | 4.62 |
Na hÉimíríochtaí Aontaithe Arabacha | 372 | 3.72 |
Uganda | 132 | 1.32 |
Uragua | 202 | 2.02 |
Vanuata | 50 | 0.50 |
Veiniséala | 1,427 | 14.27 |
Vítneam | 220 | 2.20 |
Samó Thiar | 50 | 0.50 |
Poblacht Arabach Éimin | 67 | 0.67 |
Daon-Phoblacht Dhaonlathach Éimin | 115 | 1.15 |
An Iúgslaiv | 635 | 6.35 |
An tSáir | 338 | 3.38 |
An tSaimbia | 318 | 3.18 |
An tSiombáib | 236 | 2.36 |
40,527 | 405.27 | |
An tIomlán | 100,000 | 1,000.00 |
* Na tíortha atá liostaithe faoi Earnáil a Dó is balltíortha forásacha iad chun críocha an Choinbhinsiúin seo.
SCEIDEAL B
Stiúrthóirí a Thoghadh
1. Is iad na Rialtóirí a ainmneoidh iarrthóirí le haghaidh oifig Stiúrthóra, ar choinníoll nach féidir le Rialtóir ach duine amháin a ainmniú.
2. Toghfar Stiúrthóirí trí vótáil na Rialtóirí.
3. Sa vótáil do na Stiúrthóirí, déanfaidh gach Rialtóir na vótaí uile a bhfuil an ball ar ionadaí dó é i dteideal a chaitheamh faoi Alt (a) d'Airteagal 40, a chaitheamh d'aon iarrthóir amháin.
4. Déanfar an ceathrú cuid d'uimhir na Stiúrthóirí a thoghadh ar leithligh, agus Stiúrthóir amháin á thoghadh ag gach Rialtóir de chuid na mball a bhfuil an líon is mó scaireanna acu. Mura mbeidh uimhir iomlán na Stiúrthóirí inroinnte ar cheathair is é an uimhir Stiúrthóirí a thoghfar ar an gcaoi sin an ceathrú cuid den chéad uimhir eile is ísle ná sin is inroinnte ar cheathair.
5. Déanfaidh na Rialtóirí eile an chuid eile de na Stiúrthóirí a thoghadh de réir fhorálacha mhíreanna 6 go 11 den Sceideal seo.
6. Más ionann an uimhir iarrthóirí a bheidh ainmnithe agus an uimhir Stiúrthóirí a bheidh fós le toghadh ar an gcaoi sin, toghfar na hiarrthóirí go léir sa chéad vótáil; ach ní thoghfar aon iarrthóir nó iarrthóirí a fuair níos lú ná an t-íoschéatadán de na vótaí go léir, arna chinneadh ag an gComhairle don toghchán sin, má tá aon iarrthóir ann a fuair níos mó ná an t-uaschéatadán de na vótaí go léir arna chinneadh ag an gComhairle.
7. Más mó an uimhir iarrthóirí a bheidh ainmnithe ná an uimhir Stiúrthóirí a bheidh fós le toghadh ar an gcaoi sin, toghfar na hiarrthóirí a gheobhaidh an líon is mó vótaí cé is moite d'aon iarrthóir a fuair níos lú ná an t-íoschéatadán de na vótaí go léir arna chinneadh ag an gComhairle.
8. Mura ndéanfar na Stiúrthóirí eile sin go léir a thoghadh sa chéad vótáil, déanfar an dara vótáil. Beidh an t-iarrthóir nó na hiarrthóirí nár toghadh sa chéad vótáil intofa arís.
9. Sa dara vótáil, ní vótálfaidh ach (i) na Rialtóirí sin a vótáil sa chéad vótáil d'iarrthóir nár toghadh agus (ii) na Rialtóirí sin a vótáil sa chéad vótáil d'iarrthóir tofa a raibh an t-uaschéatadán de na vótaí go léir, arna chinneadh ag an gComhairle, faighte aige cheana féin sular cuireadh a vótaí siúd i gcuntas.
10. Nuair a bheifear ag cinneadh cathain a fuair iarrthóir tofa níos mó ná an t-uaschéatadán de na vótaí, déanfar vótaí an Rialtóra is mó a chaith vótaí don iarrthóir sin a chomhaireamh i dtosach, ansin vótaí an Rialtóra a chaith an dara méid is mó, agus mar sin de go sroichfear an céatadán sin.
11. Mura mbeidh na Stiúrthóirí eile sin go léir tofa tar éis an dara vótáil, déanfar vótálacha eile de réir na bprionsabal céanna go dtí go mbeidh na Stiúrthóirí eile go léir tofa, ach nuair nach mbeidh ach Stiúrthóir amháin eile le toghadh, féadfar an Stiúrthóir sin a thoghadh le gnáth-thromlach na vótaí a bheidh fágtha agus measfar é a bheith tofa leis na vótaí sin go léir.
Number 32 of 1988
MULTILATERAL INVESTMENT GUARANTEE AGENCY ACT, 1988
ARRANGEMENT OF SECTIONS
Section | |
Number 32 of 1988
MULTILATERAL INVESTMENT GUARANTEE AGENCY ACT, 1988
Interpretation.
1.—In this Act—
“the Agency” means the Multilateral Investment Guarantee Agency;
“the Convention” means the Convention (the text of which is set out in the Schedule to this Act) providing for the establishment and operation of the Multilateral Investment Guarantee Agency;
“the Minister” means the Minister for Finance.
Approval of terms of Convention.
2.—The terms of the Convention are hereby approved.
Financial and other provisions.
3.—(1) The subsequent subsections of this section shall come into operation on the day on which the Convention enters into force for Ireland in accordance with the terms of Section (c) of Article 61 of the Convention.
(2) The following payments, as and when they become appropriate to be made on behalf of the State, shall be made out of the Central Fund or the growing produce thereof:—
(a) payments under Articles 6, 7 and 8 of the Convention in respect of subscription to the Agency; and
(b) payments under Section (e) of Article 39 of the Convention.
(3) The Minister may create and issue to the Agency, in such form as he thinks fit, such non-interest-bearing and non-negotiable notes or other obligations as are provided for in paragraph (i) of Article 7 of the Convention, and any payments in respect of any such notes or obligations so created and issued shall be made out of the Central Fund or the growing produce thereof.
(4) Any moneys received by the State from the Agency shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which that Fund is available.
(5) The Central Bank of Ireland shall act as a depository for the holdings of currency of the State and other assets of the Agency and may advance to the Minister for Finance any sum or sums required for payments under this section, subject to such security, rate of interest and other terms and conditions as are agreed between the Minister and the Bank.
(6) The principal and interest of any advances made under subsection (5) of this section shall be charged on the Central Fund or the growing produce thereof.
Recognition of subrogation rights.
4.—The subrogation rights of the Agency, as set out in Article 18 of the Convention, shall be recognised by the State.
Enforcement of arbitration provisions.
5.—(1) The pecuniary obligations imposed by an award under Section (h) of Article 4 of Annex II of the Convention shall, by leave of the High Court, be enforceable in the same manner as a judgment or order of the High Court to the same effect and, where leave is so given, judgment may be entered for the amount due or, as the case may be, the balance outstanding under the award.
(2) Where an application is made to the High Court pursuant to subsection (1) of this section, the High Court shall, in any case where enforcement of an award has been stayed in accordance with Section (i) of Article 4 of Annex II of the Convention, stay enforcement of the pecuniary obligations imposed by the award and may, in any case where an application has been made in accordance with the aforesaid Section which, if granted, might result in a stay on the enforcement of the award, stay enforcement of the pecuniary obligations imposed by the award.
Short title.
6.—This Act may be cited as the Multilateral Investment Guarantee Agency Act, 1988.
SCHEDULE
CONVENTION ESTABLISHING THE MULTILATERAL INVESTMENT GUARANTEE AGENCY
Preamble
The Contracting States
Considering the need to strengthen international cooperation for economic development and to foster the contribution to such development of foreign investment in general and private foreign investment in particular;
Recognising that the flow of foreign investment to developing countries would be facilitated and further encouraged by alleviating concerns related to non-commercial risks;
Desiring to enhance the flow to developing countries of capital and technology for productive purposes under conditions consistent with their development needs, policies and objectives, on the basis of fair and stable standards for the treatment of foreign investment;
Convinced that the Multilateral Investment Guarantee Agency can play an important role in the encouragement of foreign investment complementing national and regional investment guarantee programs and private insurers of non-commercial risk; and
Realising that such Agency should, to the extent possible, meet its obligations without resort to its callable capital and that such an objective would be served by continued improvement in investment conditions,
Have Agreed as follows:
CHAPTER I
Establishment, Status, Purpose and Definitions
Article 1. Establishment and Status of the Agency
(a) There is hereby established the Multilateral Investment Guarantee Agency (hereinafter called the Agency).
(b) The Agency shall possess full juridical personality and, in particular, the capacity to:
(i) contract;
(ii) acquire and dispose of movable and immovable property; and
(iii) institute legal proceedings.
Article 2. Objective and Purposes
The objective of the Agency shall be to encourage the flow of investments for productive purposes among member countries, and in particular to developing member countries, thus supplementing the activities of the International Bank for Reconstruction and Development (hereinafter referred to as the Bank), the International Finance Corporation and other international development finance institutions.
To serve its objective, the Agency shall:
(a) issue guarantees, including coinsurance and reinsurance, against non-commercial risks in respect of investments in a member country which flow from other member countries;
(b) carry out appropriate complementary activities to promote the flow of investments to and among developing member countries; and
(c) exercise such other incidental powers as shall be necessary or desirable in the furtherance of its objective.
The Agency shall be guided in all its decisions by the provisions of this Article.
Article 3. Definitions
For the purposes of this Convention:
(a) “Member” means a State with respect to which this Convention has entered into force in accordance with Article 61.
(b) “Host country” or “host government” means a member, its government, or any public authority of a member in whose territories, as defined in Article 66, an investment which has been guaranteed or reinsured, or is considered for guarantee or reinsurance, by the Agency is to be located.
(c) A “developing member country” means a member which is listed as such in Schedule A hereto as this Schedule may be amended from time to time by the Council of Governors referred to in Article 30 (hereinafter called the Council).
(d) A “special majority” means an affirmative vote of not less than two-thirds of the total voting power representing not less than fifty-five percent of the subscribed shares of the capital stock of the Agency.
(e) A “freely usable currency” means (i) any currency designated as such by the International Monetary Fund from time to time and (ii) any other freely available and effectively usable currency which the Board of Directors referred to in Article 30 (hereinafter called the Board) may designate for the purposes of this Convention after consultation with the International Monetary Fund and with the approval of the country of such currency.
CHAPTER II
Membership and Capital
Article 4. Membership
(a) Membership in the Agency shall be open to all members of the Bank and to Switzerland.
(b) Original members shall be the States which are listed in Schedule A hereto and become parties to this Convention on or before October 30, 1987.
Article 5. Capital
(a) The authorised capital stock of the Agency shall be one billion Special Drawing Rights (SDR 1,000,000,000). The capital stock shall be divided into 100,000 shares having a par value of SDR 10,000 each, which shall be available for subscription by members. All payment obligations of members with respect to capital stock shall be settled on the basis of the average value of the SDR in terms of United States dollars for the period January 1, 1981 to June 30, 1985, such value being 1.082 United States dollars per SDR.
(b) The capital stock shall increase on the admission of a new member to the extent that the then authorised shares are insufficient to provide the shares to be subscribed by such member pursuant to Article 6.
(c) The Council, by special majority, may at any time increase the capital stock of the Agency.
Article 6. Subscription of Shares
Each original member of the Agency shall subscribe at par to the number of shares of capital stock set forth opposite its name in Schedule A hereto. Each other member shall subscribe to such number of shares of capital stock on such terms and conditions as may be determined by the Council, but in no event at an issue price of less than par. No member shall subscribe to less than fifty shares. The Council may prescribe rules by which members may subscribe to additional shares of the authorised capital stock.
Article 7. Division and Calls of Subscribed Capital
The initial subscription of each member shall be paid as follows:
(i) Within ninety days from the date on which this Convention enters into force with respect to such member, ten percent of the price of each share shall be paid in cash as stipulated in Section (a) of Article 8 and an additional ten percent in the form of non-negotiable, non-interest-bearing promissory notes or similar obligations to be encashed pursuant to a decision of the Board in order to meet the Agency's obligations.
(ii) The remainder shall be subject to call by the Agency when required to meet its obligations.
Article 8. Payment of Subscription of Shares
(a) Payments of subscriptions shall be made in freely usable currencies except that payments by developing member countries may be made in their own currencies up to twenty-five percent of the paid-in cash portion of their subscriptions payable under Article 7 (i).
(b) Calls on any portion of unpaid subscriptions shall be uniform on all shares.
(c) If the amount received by the Agency on a call shall be insufficient to meet the obligations which have necessitated the call, the Agency may make further successive calls on unpaid subscriptions until the aggregate amount received by it shall be sufficient to meet such obligations.
(d) Liability on shares shall be limited to the unpaid portion of the issue price.
Article 9. Valuation of Currencies
Whenever it shall be necessary for the purposes of this Convention to determine the value of one currency in terms of another, such value shall be as reasonably determined by the Agency, after consultation with the International Monetary Fund.
Article 10. Refunds
(a) The Agency shall, as soon as practicable, return to members amounts paid on calls on subscribed capital if and to the extent that:
(i) the call shall have been made to pay a claim resulting from a guarantee or reinsurance contract and thereafter the Agency shall have recovered its payment, in whole or in part, in a freely usable currency; or
(ii) the call shall have been made because of a default in payment by a member and thereafter such member shall have made good such default in whole or in part; or
(iii) the Council, by special majority, determines that the financial position of the Agency permits all or part of such amounts to be returned out of the Agency's revenues.
(b) Any refund effected under this Article to a member shall be made in freely usable currency in the proportion of the payments made by that member to the total amount paid pursuant to calls made prior to such refund.
(c) The equivalent of amounts refunded under this Article to a member shall become part of the callable capital obligations of the member under Article 7 (ii).
CHAPTER III
Operations
Article 11. Covered Risks
(a) Subject to the provisions of Sections (b) and (c) below, the Agency may guarantee eligible investments against a loss resulting from one or more of the following types of risk:
(i) Currency Transfer
any introduction attributable to the host government of restrictions on the transfer outside the host country of its currency into a freely usable currency or another currency acceptable to the holder of the guarantee, including a failure of the host government to act within a reasonable period of time on an application by such holder for such transfer;
(ii) Expropriation and Similar Measures
any legislative action or administrative action or omission attributable to the host government which has the effect of depriving the holder of a guarantee of his ownership or control of, or a substantial benefit from, his investment, with the exception of non-discriminatory measures of general application which governments normally take for the purpose of regulating economic activity in their territories;
(iii) Breach of Contract
any repudiation or breach by the host government of a contract with the holder of a guarantee, when (a) the holder of a guarantee does not have recourse to a judicial or arbitral forum to determine the claim of repudiation or breach, or (b) a decision by such forum is not rendered within such reasonable period of time as shall be prescribed in the contracts of guarantee pursuant to the Agency's regulations, or (c) such a decision cannot be enforced; and
(iv) War and Civil Disturbance
any military action or civil disturbance in any territory of the host country to which this Convention shall be applicable as provided in Article 66.
(b) Upon the joint application of the investor and the host country, the Board, by special majority, may approve the extension of coverage under this Article to specific non-commercial risks other than those referred to in Section (a) above, but in no case to the risk of devaluation or depreciation of currency.
(c) Losses resulting from the following shall not be covered:
(i) any host government action or omission to which the holder of the guarantee has agreed or for which he has been responsible; and
(ii) any host government action or omission or any other event occurring before the conclusion of the contract of guarantee.
Article 12. Eligible Investments
(a) Eligible investments shall include equity interests, including medium- or long-term loans made or guaranteed by holders of equity in the enterprise concerned, and such forms of direct investment as may be determined by the Board.
(b) The Board, by special majority, may extend eligibility to any other medium- or long-term form of investment, except that loans other than those mentioned in Section (a) above may be eligible only if they are related to a specific investment covered or to be covered by the Agency.
(c) Guarantees shall be restricted to investments the implementation of which begins subsequent to the registration of the application for the guarantee by the Agency. Such investments may include:
(i) any transfer of foreign exchange made to modernise, expand, or develop an existing investment; and
(ii) the use of earnings from existing investments which could otherwise be transferred outside the host country.
(d) In guaranteeing an investment, the Agency shall satisfy itself as to:
(i) the economic soundness of the investment and its contribution to the development of the host country;
(ii) compliance of the investment with the host country's laws and regulations;
(iii) consistency of the investment with the declared development objectives and priorities of the host country; and
(iv) the investment conditions in the host country, including the availability of fair and equitable treatment and legal protection for the investment.
Article 13. Eligible Investors
(a) Any natural person and any juridical person may be eligible to receive the Agency's guarantee provided that:
(i) such natural person is a national of a member other than the host country;
(ii) such juridical person is incorporated and has its principal place of business in a member or the majority of its capital is owned by a member or members or nationals thereof, provided that such member is not the host country in any of the above cases; and
(iii) such juridical person, whether or not it is privately owned, operates on a commercial basis.
(b) In case the investor has more than one nationality, for the purposes of Section (a) above the nationality of a member shall prevail over the nationality of a non-member, and the nationality of the host country shall prevail over the nationality of any other member.
(c) Upon the joint application of the investor and the host country, the Board, by special majority, may extend eligibility to a natural person who is a national of the host country or a juridical person which is incorporated in the host country or the majority of whose capital is owned by its nationals, provided that the assets invested are transferred from outside the host country.
Article 14. Eligible Host Countries
Investments shall be guaranteed under this Chapter only if they are to be made in the territory of a developing member country.
Article 15. Host Country Approval
The Agency shall not conclude any contract of guarantee before the host government has approved the issuance of the guarantee by the Agency against the risks designated for cover.
Article 16. Terms and Conditions
The terms and conditions of each contract of guarantee shall be determined by the Agency subject to such rules and regulations as the Board shall issue, provided that the Agency shall not cover the total loss of the guaranteed investment. Contracts of guarantee shall be approved by the President under the direction of the Board.
Article 17. Payment of Claims
The President under the direction of the Board shall decide on the payment of claims to a holder of a guarantee in accordance with the contract of guarantee and such policies as the Board may adopt. Contracts of guarantee shall require holders of guarantees to seek, before a payment is made by the Agency, such administrative remedies as may be appropriate under the circumstances, provided that they are readily available to them under the laws of the host country. Such contracts may require the lapse of certain reasonable periods between the occurrence of events giving rise to claims and payments of claims.
Article 18. Subrogation
(a) Upon paying or agreeing to pay compensation to a holder of a guarantee, the Agency shall be subrogated to such rights or claims related to the guaranteed investment as the holder of a guarantee may have had against the host country and other obligors. The contract of guarantee shall provide the terms and conditions of such subrogation.
(b) The rights of the Agency pursuant to Section (a) above shall be recognised by all members.
(c) Amounts in the currency of the host country acquired by the Agency as subrogee pursuant to Section (a) above shall be accorded, with respect to use and conversion, treatment by the host country as favorable as the treatment to which such funds would be entitled in the hands of the holder of the guarantee. In any case, such amounts may be used by the Agency for the payment of its administrative expenditures and other costs. The Agency shall also seek to enter into arrangements with host countries on other uses of such currencies to the extent that they are not freely usable.
Article 19. Relationship to National and Regional Entities
The Agency shall cooperate with, and seek to complement the operations of, national entities of members and regional entities the majority of whose capital is owned by members, which carry out activities similar to those of the Agency, with a view to maximising both the efficiency of their respective services and their contribution to increased flows of foreign investment. To this end, the Agency may enter into arrangements with such entities on the details of such cooperation, including in particular the modalities of reinsurance and coinsurance.
Article 20. Reinsurance of National and Regional Entities
(a) The Agency may issue reinsurance in respect of a specific investment against a loss resulting from one or more of the non-commercial risks underwritten by a member or agency thereof or by a regional investment guarantee agency the majority of whose capital is owned by members. The Board, by special majority, shall from time to time prescribe maximum amounts of contingent liability which may be assumed by the Agency with respect to reinsurance contracts. In respect of specific investments which have been completed more than twelve months prior to receipt of the application for reinsurance by the Agency, the maximum amount shall initially be set at ten percent of the aggregate contingent liability of the Agency under this Chapter. The conditions of eligibility specified in Articles 11 to 14 shall apply to reinsurance operations, except that the reinsured investments need not be implemented subsequent to the application for reinsurance.
(b) The mutual rights and obligations of the Agency and a reinsured member or agency shall be stated in contracts of reinsurance subject to such rules and regulations as the Board shall issue. The Board shall approve each contract for reinsurance covering an investment which has been made prior to receipt of the application for reinsurance by the Agency, with a view to minimising risks, assuring that the Agency receives premiums commensurate with its risk, and assuring that the reinsured entity is appropriately committed toward promoting new investment in developing member countries.
(c) The Agency shall, to the extent possible, assure that it or the reinsured entity shall have the rights of subrogation and arbitration equivalent to those the Agency would have if it were the primary guarantor. The terms and conditions of reinsurance shall require that administrative remedies are sought in accordance with Article 17 before a payment is made by the Agency. Subrogation shall be effective with respect to the host country concerned only after its approval of the reinsurance by the Agency. The Agency shall include in the contracts of reinsurance provisions requiring the reinsured to pursue with due diligence the rights or claims related to the reinsured investment.
Article 21. Cooperation with Private Insurers and with Reinsurers
(a) The Agency may enter into arrangements with private insurers in member countries to enhance its own operations and encourage such insurers to provide coverage of non-commercial risks in developing member countries on conditions similar to those applied by the Agency. Such arrangements may include the provision of reinsurance by the Agency under the conditions and procedures specified in Article 20.
(b) The Agency may reinsure with any appropriate reinsurance entity, in whole or in part, any guarantee or guarantees issued by it.
(c) The Agency will in particular seek to guarantee investments for which comparable coverage on reasonable terms is not available from private insurers and reinsurers.
Article 22. Limits of Guarantee
(a) Unless determined otherwise by the Council by special majority, the aggregate amount of contingent liabilities which may be assumed by the Agency under this Chapter shall not exceed one hundred and fifty percent of the amount of the Agency's unimpaired subscribed capital and its reserves plus such portion of its reinsurance cover as the Board may determine. The Board shall from time to time review the risk profile of the Agency's portfolio in the light of its experience with claims, degree of risk diversification, reinsurance cover and other relevant factors with a view to ascertaining whether changes in the maximum aggregate amount of contingent liabilities should be recommended to the Council. The maximum amount determined by the Council shall not under any circumstances exceed five times the amount of the Agency's unimpaired subscribed capital, its reserves and such portion of its reinsurance cover as may be deemed appropriate.
(b) Without prejudice to the general limit of guarantee referred to in Section (a) above, the Board may prescribe:
(i) maximum aggregate amounts of contingent liability which may be assumed by the Agency under this Chapter for all guarantees issued to investors of each individual member. In determining such maximum amounts, the Board shall give due consideration to the share of the respective member in the capital of the Agency and the need to apply more liberal limitations in respect of investments originating in developing member countries; and
(ii) maximum aggregate amounts of contingent liability which may be assumed by the Agency with respect to such risk diversification factors as individual projects, individual host countries and types of investment or risk.
Article 23. Investment Promotion
(a) The Agency shall carry out research, undertake activities to promote investment flows and disseminate information on investment opportunities in developing member countries, with a view to improving the environment for foreign investment flows to such countries. The Agency may, upon the request of a member, provide technical advice and assistance to improve the investment conditions in the territories of that member. In performing these activities, the Agency shall:
(i) be guided by relevant investment agreements among member countries;
(ii) seek to remove impediments, in both developed and developing member countries, to the flow of investment to developing member countries; and
(iii) coordinate with other agencies concerned with the promotion of foreign investment, and in particular the International Finance Corporation.
(b) The Agency also shall:
(i) encourage the amicable settlement of disputes between investors and host countries;
(ii) endeavour to conclude agreements with developing member countries, and in particular with prospective host countries, which will assure that the Agency, with respect to investment guaranteed by it, has treatment at least as favourable as that agreed by the member concerned for the most favoured investment guarantee agency or State in an agreement relating to investment, such agreements to be approved by special majority of the Board; and
(iii) promote and facilitate the conclusion of agreements, among its members, on the promotion and protection of investments.
(c) The Agency shall give particular attention in its promotional efforts to the importance of increasing the flow of investments among developing member countries.
Article 24. Guarantees of Sponsored Investments
In addition to the guarantee operations undertaken by the Agency under this Chapter, the Agency may guarantee investments under the sponsorship arrangements provided for in Annex I to this Convention.
CHAPTER IV
Financial Provisions
Article 25. Financial Management
The Agency shall carry out its activities in accordance with sound business and prudent financial management practices with a view to maintaining under all circumstances its ability to meet its financial obligations.
Article 26. Premiums and Fees
The Agency shall establish and periodically review the rates of premiums, fees and other charges, if any, applicable to each type of risk.
Article 27. Allocation of Net Income
(a) Without prejudice to the provisions of Section (a) (iii) of Article 10, the Agency shall allocate net income to reserves until such reserves reach five times the subscribed capital of the Agency.
(b) After the reserves of the Agency have reached the level prescribed in Section (a) above, the Council shall decide whether, and to what extent, the Agency's net income shall be allocated to reserves, be distributed to the Agency's members or be used otherwise. Any distribution of net income to the Agency's members shall be made in proportion to the share of each member in the capital of the Agency in accordance with a decision of the Council acting by special majority.
Article 28. Budget
The President shall prepare an annual budget of revenues and expenditures of the Agency for approval by the Board.
Article 29. Accounts
The Agency shall publish an Annual Report which shall include statements of its accounts and of the accounts of the Sponsorship Trust Fund referred to in Annex I to this Convention, as audited by independent auditors. The Agency shall circulate to members at appropriate intervals a summary statement of its financial position and a profit and loss statement showing the results of its operations.
CHAPTER V
Organisation and Management
Article 30. Structure of the Agency
The Agency shall have a Council of Governors, a Board of Directors, a President and staff to perform such duties as the Agency may determine.
Article 31. The Council
(a) All the powers of the Agency shall be vested in the Council, except such powers as are, by the terms of this Convention, specifically conferred upon another organ of the Agency. The Council may delegate to the Board the exercise of any of its powers, except the power to:
(i) admit new members and determine the conditions of their admission;
(ii) suspend a member;
(iii) decide on any increase or decrease in the capital;
(iv) increase the limit of the aggregate amount of contingent liabilities pursuant to Section (a) of Article 22;
(v) designate a member as a developing member country pursuant to Section (c) of Article 3;
(vi) classify a new member as belonging to Category One or Category Two for voting purposes pursuant to Section (a) of Article 39 or reclassify an existing member for the same purposes;
(vii) determine the compensation of Directors and their Alternates;
(viii) cease operations and liquidate the Agency;
(ix) distribute assets to members upon liquidation; and
(x) amend this Convention, its Annexes and Schedules.
(b) The Council shall be composed of one Governor and one Alternate appointed by each member in such manner as it may determine. No Alternate may vote except in the absence of his principal. The Council shall select one of the Governors as Chairman.
(c) The Council shall hold an annual meeting and such other meetings as may be determined by the Council or called by the Board. The Board shall call a meeting of the Council whenever requested by five members or by members having twenty-five percent of the total voting power.
Article 32. The Board
(a) The Board shall be responsible for the general operations of the Agency and shall take, in the fulfillment of this responsibility, any action required or permitted under this Convention.
(b) The Board shall consist of not less than twelve Directors. The number of Directors may be adjusted by the Council to take into account changes in membership. Each Director may appoint an Alternate with full power to act for him in case of the Director's absence or inability to act. The President of the Bank shall be ex officio Chairman of the Board, but shall have no vote except a deciding vote in case of an equal division.
(c) The Council shall determine the term of office of the Directors. The first Board shall be constituted by the Council at its inaugural meeting.
(d) The Board shall meet at the call of its Chairman acting on his own initiative or upon request of three Directors.
(e) Until such time as the Council may decide that the Agency shall have a resident Board which functions in continuous session, the Directors and Alternates shall receive compensation only for the cost of attendance at the meetings of the Board and the discharge of other official functions on behalf of the Agency. Upon the establishment of a Board in continuous session, the Directors and Alternates shall receive such remuneration as may be determined by the Council.
Article 33. President and Staff
(a) The President shall, under the general control of the Board, conduct the ordinary business of the Agency. He shall be responsible for the organisation, appointment and dismissal of the staff.
(b) The President shall be appointed by the Board on the nomination of its Chairman. The Council shall determine the salary and terms of the contract of service of the President.
(c) In the discharge of their offices, the President and the staff owe their duty entirely to the Agency and to no other authority. Each member of the Agency shall respect the international character of this duty and shall refrain from all attempts to influence the President or the staff in the discharge of their duties.
(d) In appointing the staff, the President shall, subject to the paramount importance of securing the highest standards of efficiency and of technical competence, pay due regard to the importance of recruiting personnel on as wide a geographical basis as possible.
(e) The President and staff shall maintain at all times the confidentiality of information obtained in carrying out the Agency's operations.
Article 34. Political Activity Prohibited
The Agency, its President and staff shall not interfere in the political affairs of any member. Without prejudice to the right of the Agency to take into account all the circumstances surrounding an investment, they shall not be influenced in their decisions by the political character of the member or members concerned. Considerations relevant to their decisions shall be weighed impartially in order to achieve the purposes stated in Article 2.
Article 35. Relations with International Organisations
The Agency shall, within the terms of this Convention, cooperate with the United Nations and with other inter-governmental organisations having specialised responsibilities in related fields, including in particular the Bank and the International Finance Corporation.
Article 36. Location of Principal Office
(a) The principal office of the Agency shall be located in Washington, D.C., unless the Council, by special majority, decides to establish it in another location.
(b) The Agency may establish other offices as may be necessary for its work.
Article 37. Depositories for Assets
Each member shall designate its central bank as a depository in which the Agency may keep holdings of such member's currency or other assets of the Agency or, if it has no central bank, it shall designate for such purpose such other institution as may be acceptable to the Agency.
Article 38. Channel of Communication
(a) Each member shall designate an appropriate authority with which the Agency may communicate in connection with any matter arising under this Convention. The Agency may rely on statements of such authority as being statements of the member. The Agency, upon the request of a member, shall consult with that member with respect to matters dealt with in Articles 19 to 21 and related to entities or insurers of that member.
(b) Whenever the approval of any member is required before any act may be done by the Agency, approval shall be deemed to have been given unless the member presents an objection within such reasonable period as the Agency may fix in notifying the member of the proposed act.
CHAPTER VI
Voting, Adjustments of Subscriptions and Representation
Article 39. Voting and Adjustments of Subscriptions
(a) In order to provide for voting arrangements that reflect the equal interest in the Agency of the two Categories of States listed in Schedule A of this Convention, as well as the importance of each member's financial participation, each member shall have 177 membership votes plus one subscription vote for each share of stock held by that member.
(b) If at any time within three years after the entry into force of this Convention the aggregate sum of membership and subscription votes of members which belong to either of the two Categories of States listed in Schedule A of this Convention is less than forty percent of the total voting power, members from such a Category shall have such number of supplementary votes as shall be necessary for the aggregate voting power of the Category to equal such a percentage of the total voting power. Such supplementary votes shall be distributed among the members of such Category in the proportion that the subscription votes of each bears to the aggregate of subscription votes of the Category. Such supplementary votes shall be subject to automatic adjustment to ensure that such percentage is maintained and shall be cancelled at the end of the above-mentioned three-year period.
(c) During the third year following the entry into force of this Convention, the Council shall review the allocation of shares and shall be guided in its 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 authorised 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 to cast the number of votes of the members whose votes counted towards his election. All the votes which a Director is entitled to cast shall be cast as a unit. Except as otherwise specified in this Convention, decisions of the Board shall be taken by a majority of the votes cast.
(b) A quorum for a meeting of the Board shall be constituted by a majority of the Directors exercising not less than one-half of the total voting power.
(c) The Board may by regulation establish a procedure whereby its Chairman, when he deems such action to be in the best interests of the Agency, may request a decision of the Board on a specific question without calling a meeting of the Board.
CHAPTER VII
Privileges and Immunities
Article 43. Purposes of Chapter
To enable the Agency to fulfil its functions, the immunities and privileges set forth in this Chapter shall be accorded to the Agency in the territories of each member.
Article 44. Legal Process
Actions other than those within the scope of Articles 57 and 58 may be brought against the Agency only in a court of competent jurisdiction in the territories of a member in which the Agency has an office or has appointed an agent for the purpose of accepting service or notice of process. No such action against the Agency shall be brought (i) by members or persons acting for or deriving claims from members or (ii) in respect of personnel matters. The property and assets of the Agency shall, wherever located and by whomsoever held, be immune from all forms of seizure, attachment or execution before the delivery of the final judgment or award against the Agency.
Article 45. Assets
(a) The property and assets of the Agency, wherever located and by whomsoever held, shall be immune from search, requisition, confiscation, expropriation or any other form of seizure by executive or legislative action.
(b) To the extent necessary to carry out its operations under this Convention, all property and assets of the Agency shall be free from restrictions, regulations, controls and moratoria of any nature; provided that property and assets acquired by the Agency as successor to or subrogee of a holder of a guarantee, a reinsured entity or an investor insured by a reinsured entity shall be free from applicable foreign exchange restrictions, regulations and controls in force in the territories of the member concerned to the extent that the holder, entity or investor to whom the Agency was subrogated was entitled to such treatment.
(c) For purposes of this Chapter, the term “assets” shall include the assets of the Sponsorship Trust Fund referred to in Annex I to this Convention and other assets administered by the Agency in furtherance of its objective.
Article 46. Archives and Communications
(a) The archives of the Agency shall be inviolable, wherever they may be.
(b) The official communications of the Agency shall be accorded by each member the same treatment that is accorded to the official communications of the Bank.
Article 47. Taxes
(a) The Agency, its assets, property and income, and its operations and transactions authorised by this Convention, shall be immune from all taxes and customs duties. The Agency shall also be immune from liability for the collection or payment of any tax or duty.
(b) Except in the case of local nationals, no tax shall be levied on or in respect of expense allowances paid by the Agency to Governors and their Alternates or on or in respect of salaries, expense allowances or other emoluments paid by the Agency to the Chairman of the Board, Directors, their Alternates, the President or staff of the Agency.
(c) No taxation of any kind shall be levied on any investment guaranteed or reinsured by the Agency (including any earnings therefrom) or any insurance policies reinsured by the Agency (including any premiums and other revenues therefrom) by whomsoever held: (i) which discriminates against such investment or insurance policy solely because it is guaranteed or reinsured by the Agency; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Agency.
Article 48. Officials of the Agency
All Governors, Directors, Alternates, the President and staff of the Agency:
(i) shall be immune from legal process with respect to acts performed by them in their official capacity;
(ii) not being local nationals, shall be accorded the same immunities from immigration restrictions, alien registration requirements and national service obligations, and the same facilities as regards exchange restrictions as are accorded by the members concerned to the representatives, officials and employees of comparable rank of other members; and
(iii) shall be granted the same treatment in respect of travelling facilities as is accorded by the members concerned to representatives, officials and employees of comparable rank of other members.
Article 49. Application of this Chapter
Each member shall take such action as is necessary in its own territories for the purpose of making effective in terms of its own law the principles set forth in this Chapter and shall inform the Agency of the detailed action which it has taken.
Article 50. Waiver
The immunities, exemptions and privileges provided in this Chapter are granted in the interests of the Agency and may be waived, to such extent and upon such conditions as the Agency may determine, in cases where such a waiver would not prejudice its interests. The Agency shall waive the immunity of any of its staff in cases where, in its opinion, the immunity would impede the course of justice and can be waived without prejudice to the interests of the Agency.
CHAPTER VIII
Withdrawal, Suspension of Membership and Cessation of Operations
Article 51. Withdrawal
Any member may, after the expiration of three years following the date upon which this Convention has entered into force with respect to such member, withdraw from the Agency at any time by giving notice in writing to the Agency at its principal office. The Agency shall notify the Bank, as depository of this Convention, of the receipt of such notice. Any withdrawal shall become effective ninety days following the date of the receipt of such notice by the Agency. A member may revoke such notice as long as it has not become effective.
Article 52. Suspension of Membership
(a) If a member fails to fulfill any of its obligations under this Convention, the Council may, by a majority of its members exercising a majority of the total voting power, suspend its membership.
(b) While under suspension a member shall have no rights under this Convention, except for the right of withdrawal and other rights provided in this Chapter and Chapter IX, but shall remain subject to all its obligations.
(c) For purposes of determining eligibility for guarantee or reinsurance to be issued under Chapter III or Annex I to this Convention, a suspended member shall not be treated as a member of the Agency.
(d) The suspended member shall automatically cease to be a member one year from the date of its suspension unless the Council decides to extend the period of suspension or to restore the member to good standing.
Article 53. Rights and Duties of States Ceasing to be Members
(a) When a State ceases to be a member, it shall remain liable for all its obligations, including its contingent obligations, under this Convention which shall have been in effect before the cessation of its membership.
(b) Without prejudice to Section (a) above, the Agency shall enter into an arrangement with such State for the settlement of their respective claims and obligations. Any such arrangement shall be approved by the Board.
Article 54. Suspension of Operations
(a) The Board may, whenever it deems it justified, suspend the issuance of new guarantees for a specified period.
(b) In an emergency, the Board may suspend all activities of the Agency for a period not exceeding the duration of such emergency, provided that necessary arrangements shall be made for the protection of the interests of the Agency and of third parties.
(c) The decision to suspend operations shall have no effect on the obligations of the members under this Convention or on the obligations of the Agency towards holders of a guarantee or reinsurance policy or towards third parties.
Article 55. Liquidation
(a) The Council, by special majority, may decide to cease operations and to liquidate the Agency. Thereupon the Agency shall forthwith cease all activities, except those incident to the orderly realisation, conservation and preservation of assets and settlement of obligations. Until final settlement and distribution of assets, the Agency shall remain in existence and all rights and obligations of members under this Convention shall continue unimpaired.
(b) No distribution of assets shall be made to members until all liabilities to holders of guarantees and other creditors shall have been discharged or provided for and until the Council shall have decided to make such distribution.
(c) Subject to the foregoing, the Agency shall distribute its remaining assets to members in proportion to each member's share in the subscribed capital. The Agency shall also distribute any remaining assets of the Sponsorship Trust Fund referred to in Annex I to this Convention to sponsoring members in the proportion which the investments sponsored by each bears to the total of sponsored investments. No member shall be entitled to its share in the assets of the Agency or the Sponsorship Trust Fund unless that member has settled all outstanding claims by the Agency against it. Every distribution of assets shall be made at such times as the Council shall determine and in such manner as it shall deem fair and equitable.
CHAPTER IX
Settlement of Disputes
Article 56. Interpretation and Application of the Convention
(a) Any question of interpretation or application of the provisions of this Convention arising between any member of the Agency and the Agency or among members of the Agency shall be submitted to the Board for its decision. Any member which is particularly affected by the question and which is not otherwise represented by a national in the Board may send a representative to attend any meeting of the Board at which such question is considered.
(b) In any case where the Board has given a decision under Section (a) above, any member may require that the question be referred to the Council, whose decision shall be final. Pending the result of the referral to the Council, the Agency may, so far as it deems necessary, act on the basis of the decision of the Board.
Article 57. Disputes between the Agency and Members
(a) Without prejudice to the provisions of Article 56 and of Section (b) of this Article, any dispute between the Agency and a member or an agency thereof and any dispute between the Agency and a country (or agency thereof) which has ceased to be a member, shall be settled in accordance with the procedure set out in Annex II to this Convention.
(b) Disputes concerning claims of the Agency acting as subrogee of an investor shall be settled in accordance with either (i) the procedure set out in Annex II to this Convention, or (ii) an agreement to be entered into between the Agency and the member concerned on an alternative method or methods for the settlement of such disputes. In the latter case, Annex II to this Convention shall serve as a basis for such an agreement which shall, in each case, be approved by the Board by special majority prior to the undertaking by the Agency of operations in the territories of the member concerned.
Article 58. Disputes Involving Holders of a Guarantee or Reinsurance
Any dispute arising under a contract of guarantee or reinsurance between the parties thereto shall be submitted to arbitration for final determination in accordance with such rules as shall be provided for or referred to in the contract of guarantee or reinsurance.
CHAPTER X
Amendments
Article 59. Amendment by Council
(a) This Convention and its Annexes may be amended by vote of three-fifths of the Governors exercising four-fifths of the total voting power, provided that:
(i) any amendment modifying the right to withdraw from the Agency provided in Article 51 or the limitation on liability provided in Section (d) of Article 8 shall require the affirmative vote of all Governors; and
(ii) any amendment modifying the loss-sharing arrangement provided in Articles 1 and 3 of Annex I to this Convention which will result in an increase in any member's liability thereunder shall require the affirmative vote of the Governor of each such member.
(b) Schedules A and B to this Convention may be amended by the Council by special majority.
(c) If an amendment affects any provision of Annex I to this Convention, total votes shall include the additional votes allotted under Article 7 of such Annex to sponsoring members and countries hosting sponsored investments.
Article 60. Procedure
Any proposal to amend this Convention, whether emanating from a member or a Governor or a Director, shall be communicated to the Chairman of the Board who shall bring the proposal before the Board. If the proposed amendment is recommended by the Board, it shall be submitted to the Council for approval in accordance with Article 59. When an amendment has been duly approved by the Council, the Agency shall so certify by formal communication addressed to all members. Amendments shall enter into force for all members ninety days after the date of the formal communication unless the Council shall specify a different date.
CHAPTER XI
Final Provisions
Article 61. Entry into Force
(a) This Convention shall be open for signature on behalf of all members of the Bank and Switzerland and shall be subject to ratification, acceptance or approval by the signatory States in accordance with their constitutional procedures.
(b) This Convention shall enter into force on the day when not less than five instruments of ratification, acceptance or approval shall have been deposited on behalf of signatory States in Category One, and not less than fifteen such instruments shall have been deposited on behalf of signatory States in Category Two; provided that total subscriptions of these States amount to not less than one-third of the authorised capital of the Agency as prescribed in Article 5.
(c) For each State which deposits its instrument of ratification, acceptance or approval after this Convention shall have entered into force, this Convention shall enter into force on the date of such deposit.
(d) If this Convention shall not have entered into force within two years after its opening for signature, the President of the Bank shall convene a conference of interested countries to determine the future course of action.
Article 62. Inaugural Meeting
Upon entry into force of this Convention, the President of the Bank shall call the inaugural meeting of the Council. This meeting shall be held at the principal office of the Agency within sixty days from the date on which this Convention has entered into force or as soon as practicable thereafter.
Article 63. Depository
Instruments of ratification, acceptance or approval of this Convention and amendments thereto shall be deposited with the Bank which shall act as the depository of this Convention. The depository shall transmit certified copies of this Convention to States members of the Bank and to Switzerland.
Article 64. Registration
The depository shall register this Convention with the Secretariat of the United Nations in accordance with Article 102 of the Charter of the United Nations and the Regulations thereunder adopted by the General Assembly.
Article 65. Notification
The depository shall notify all signatory States and, upon the entry into force of this Convention, the Agency of the following:
(a) signatures of this Convention;
(b) deposits of instruments of ratification, acceptance and approval in accordance with Article 63;
(c) the date on which this Convention enters into force in accordance with Article 61;
(d) exclusions from territorial application pursuant to Article 66; and
(e) withdrawal of a member from the Agency pursuant to Article 51.
Article 66. Territorial Application
This Convention shall apply to all territories under the jurisdiction of a member including the territories for whose international relations a member is responsible, except those which are excluded by such member by written notice to the depository of this Convention either at the time of ratification, acceptance or approval or subsequently.
Article 67. Periodic Reviews
(a) The Council shall periodically undertake comprehensive reviews of the activities of the Agency as well as the results achieved with a view to introducing any changes required to enhance the Agency's ability to serve its objectives.
(b) The first such review shall take place five years after the entry into force of this Convention. The dates of subsequent reviews shall be determined by the Council.
DONE at Seoul, in a single copy which shall remain deposited in the archives of the International Bank for Reconstruction and Development, which has indicated by its signature below its agreement to fulfil the functions with which it is charged under this Convention.
ANNEX I
Guarantees of Sponsored Investments Under Article 24
Article 1. Sponsorship
(a) Any member may sponsor for guarantee an investment to be made by an investor of any nationality or by investors of any or several nationalities.
(b) Subject to the provisions of Sections (b) and (c) of Article 3 of this Annex, each sponsoring member shall share with the other sponsoring members in losses under guarantees of sponsored investments, when and to the extent that such losses cannot be covered out of the Sponsorship Trust Fund referred to in Article 2 of this Annex, in the proportion which the amount of maximum contingent liability under the guarantees of investments sponsored by it bears to the total amount of maximum contingent liability under the guarantees of investments sponsored by all members.
(c) In its decision on the issuance of guarantees under this Annex, the Agency shall pay due regard to the prospects that the sponsoring member will be in a position to meet its obligations under this Annex and shall give priority to investments which are co-sponsored by the host countries concerned.
(d) The Agency shall periodically consult with sponsoring members with respect to its operations under this Annex.
Article 2. Sponsorship Trust Fund
(a) Premiums and other revenues attributable to guarantees of sponsored investments, including returns on the investment of such premiums and revenues, shall be held in a separate account which shall be called the Sponsorship Trust Fund.
(b) All administrative expenses and payments on claims attributable to guarantees issued under this Annex shall be paid out of the Sponsorship Trust Fund.
(c) The assets of the Sponsorship Trust Fund shall be held and administered for the joint account of sponsoring members and shall be kept separate and apart from the assets of the Agency.
Article 3. Calls on Sponsoring Members
(a) To the extent that any amount is payable by the Agency on account of a loss under a sponsored guarantee and such amount cannot be paid out of assets of the Sponsorship Trust Fund, the Agency shall call on each sponsoring member to pay into such Fund its share of such amount as shall be determined in accordance with Section (b) of Article 1 of this Annex.
(b) No member shall be liable to pay any amount on a call pursuant to the provisions of this Article if as a result total payments made by that member will exceed the total amount of guarantees covering investments sponsored by it.
(c) Upon the expiry of any guarantee covering an investment sponsored by a member, the liability of that member shall be decreased by an amount equivalent to the amount of such guarantee; such liability shall also be decreased on a pro rata basis upon payment by the Agency of any claim related to a sponsored investment and shall otherwise continue in effect until the expiry of all guarantees of sponsored investments outstanding at the time of such payment.
(d) If any sponsoring member shall not be liable for an amount of a call pursuant to the provisions of this Article because of the limitation contained in Sections (b) and (c) above, or if any sponsoring member shall default in payment of an amount due in response to any such call, the liability for payment of such amount shall be shared pro rata by the other sponsoring members. Liability of members pursuant to this Section shall be subject to the limitation set forth in Sections (b) and (c) above.
(e) Any payment by a sponsoring member pursuant to a call in accordance with this Article shall be made promptly and in freely usable currency.
Article 4. Valuation of Currencies and Refunds
The provisions on valuation of currencies and refunds contained in this Convention with respect to capital subscriptions shall be applied mutatis mutandis to funds paid by members on account of sponsored investments.
Article 5. Reinsurance
(a) The Agency may, under the conditions set forth in Article 1 of this Annex, provide reinsurance to a member, an agency thereof, a regional agency as defined in Section (a) of Article 20 of this Convention or a private insurer in a member country. The provisions of this Annex concerning guarantees and of Articles 20 and 21 of this Convention shall be applied mutatis mutandis to reinsurance provided under this Section.
(b) The Agency may obtain reinsurance for investments guaranteed by it under this Annex and shall meet the cost of such reinsurance out of the Sponsorship Trust Fund. The Board may decide whether and to what extent the loss-sharing obligation of sponsoring members referred to in Section (b) of Article 1 of this Annex may be reduced on account of the reinsurance cover obtained.
Article 6. Operational Principles
Without prejudice to the provisions of this Annex, the provisions with respect to guarantee operations under Chapter III of this Convention and to financial management under Chapter IV of this Convention shall be applied mutatis mutandis to guarantees of sponsored investments except that (i) such investments shall qualify for sponsorship if made in the territories of any member, and in particular of any developing member, by an investor or investors eligible under Section (a) of Article 1 of this Annex, and (ii) the Agency shall not be liable with respect to its own assets for any guarantee or reinsurance issued under this Annex and each contract of guarantee or reinsurance concluded pursuant to this Annex shall expressly so provide.
Article 7. Voting
For decisions relating to sponsored investments, each sponsoring member shall have one additional vote for each 10,000 Special Drawing Rights equivalent of the amount guaranteed or reinsured on the basis of its sponsorship, and each member hosting a sponsored investment shall have one additional vote for each 10,000 Special Drawing Rights equivalent of the amount guaranteed or reinsured with respect to any sponsored investment hosted by it. Such additional votes shall be cast only for decisions related to sponsored investments and shall otherwise be disregarded in determining the voting power of members.
ANNEX II
Settlement of Disputes Between a Member and the Agency Under Article 57
Article 1. Application of the Annex
All disputes within the scope of Article 57 of this Convention shall be settled in accordance with the procedure set out in this Annex, except in the cases where the Agency has entered into an agreement with a member pursuant to Section (b) (ii) of Article 57.
Article 2. Negotiation
The parties to a dispute within the scope of this Annex shall attempt to settle such dispute by negotiation before seeking conciliation or arbitration. Negotiations shall be deemed to have been exhausted if the parties fail to reach a settlement within a period of one hundred and twenty days from the date of the request to enter into negotiation.
Article 3. Conciliation
(a) If the dispute is not resolved through negotiation, either party may submit the dispute to arbitration in accordance with the provisions of Article 4 of this Annex, unless the parties, by mutual consent, have decided to resort first to the conciliation procedure provided for in this Article.
(b) The agreement for recourse to conciliation shall specify the matter in dispute, the claims of the parties in respect thereof and, if available, the name of the conciliator agreed upon by the parties. In the absence of agreement on the conciliator, the parties may jointly request either the Secretary-General of the International Centre for Settlement of Investment Disputes (hereinafter called ICSID) or the President of the International Court of Justice to appoint a conciliator. The conciliation procedure shall terminate if the conciliator has not been appointed within ninety days after the agreement for recourse to conciliation.
(c) Unless otherwise provided in this Annex or agreed upon by the parties, the conciliator shall determine the rules governing the conciliation procedure and shall be guided in this regard by the conciliation rules adopted pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States.
(d) The parties shall cooperate in good faith with the conciliator and shall, in particular, provide him with all information and documentation which would assist him in the discharge of his functions; they shall give their most serious consideration to his recommendations.
(e) Unless otherwise agreed upon by the parties, the conciliator shall, within a period not exceeding one hundred and eighty days from the date of his appointment, submit to the parties a report recording the results of his efforts and setting out the issues controversial between the parties and his proposals for their settlement.
(f) Each party shall, within sixty days from the date of the receipt of the report, express in writing its views on the report to the other party.
(g) Neither party to a conciliation proceeding shall be entitled to have recourse to arbitration unless:
(i) the conciliator shall have failed to submit his report within the period established in Section (e) above; or
(ii) the parties shall have failed to accept all of the proposals contained in the report within sixty days after its receipt; or
(iii) the parties, after an exchange of views on the report, shall have failed to agree on a settlement of all controversial issues within sixty days after receipt of the conciliator's report; or
(iv) a party shall have failed to express its views on the report as prescribed in Section (f) above.
(h) Unless the parties agree otherwise, the fees of the conciliator shall be determined on the basis of the rates applicable to ICSID conciliation. These fees and the other costs of the conciliation proceedings shall be borne equally by the parties. Each party shall defray its own expenses.
Article 4. Arbitration
(a) Arbitration proceedings shall be instituted by means of a notice by the party seeking arbitration (the claimant) addressed to the other party or parties to the dispute (the respondent). The notice shall specify the nature of the dispute, the relief sought and the name of the arbitrator appointed by the claimant. The respondent shall, within thirty days after the date of receipt of the notice, notify the claimant of the name of the arbitrator appointed by it. The two parties shall within a period of thirty days from the date of appointment of the second arbitrator, select a third arbitrator, who shall act as President of the Arbitral Tribunal (the Tribunal).
(b) If the Tribunal shall not have been constituted within sixty days from the date of the notice, the arbitrator not yet appointed or the President not yet selected shall be appointed, at the joint request of the parties, by the Secretary-General of ICSID. If there is no such joint request, or if the Secretary-General shall fail to make the appointment within thirty days of the request, either party may request the President of the International Court of Justice to make the appointment.
(c) No party shall have the right to change the arbitrator appointed by it once the hearing of the dispute has commenced. In case any arbitrator (including the President of the Tribunal) shall resign, die, or become incapacitated, a successor shall be appointed in the manner followed in the appointment of his predecessor and such successor shall have the same powers and duties of the arbitrator he succeeds.
(d) The Tribunal shall convene first at such time and place as shall be determined by the President. Thereafter, the Tribunal shall determine the place and dates of its meetings.
(e) Unless otherwise provided in this Annex or agreed upon by the parties, the Tribunal shall determine its procedure and shall be guided in this regard by the arbitration rules adopted pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States.
(f) The Tribunal shall be the judge of its own competence except that, if an objection is raised before the Tribunal to the effect that the dispute falls within the jurisdiction of the Board or the Council under Article 56 or within the jurisdiction of a judicial or arbitral body designated in an agreement under Article 1 of this Annex and the Tribunal is satisfied that the objection is genuine, the objection shall be referred by the Tribunal to the Board or the Council or the designated body, as the case may be, and the arbitration proceedings shall be stayed until a decision has been reached on the matter, which shall be binding upon the Tribunal.
(g) The Tribunal shall, in any dispute within the scope of this Annex, apply the provisions of this Convention, any relevant agreement between the parties to the dispute, the Agency's by-laws and regulations, the applicable rules of international law, the domestic law of the member concerned as well as the applicable provisions of the investment contract, if any. Without prejudice to the provisions of this Convention the Tribunal may decide a dispute ex aequo et bono if the Agency and the member concerned so agree. The Tribunal may not bring a finding of non liquet on the ground of silence or obscurity of the law.
(h) The Tribunal shall afford a fair hearing to all the parties. All decisions of the Tribunal shall be taken by a majority vote and shall state the reasons on which they are based. The award of the Tribunal shall be in writing, and shall be signed by at least two arbitrators and a copy thereof shall be transmitted to each party. The award shall be final and binding upon the parties and shall not be subject to appeal, annulment or revision.
(i) If any dispute shall arise between the parties as to the meaning or scope of an award, either party may, within sixty days after the award was rendered, request interpretation of the award by an application in writing to the President of the Tribunal which rendered the award. The President shall, if possible, submit the request to the Tribunal which rendered the award and shall convene such Tribunal within sixty days after receipt of the application. If this shall not be possible, a new Tribunal shall be constituted in accordance with the provisions of Sections (a) to (d) above. The Tribunal may stay enforcement of the award pending its decision on the requested interpretation.
(j) Each member shall recognise an award rendered pursuant to this Article as binding and enforceable within its territories as if it were a final judgment of a court in that member. Execution of the award shall be governed by the laws concerning the execution of judgments in force in the State in whose territories such execution is sought and shall not derogate from the law in force relating to immunity from execution.
(k) Unless the parties shall agree otherwise, the fees and remuneration payable to the arbitrators shall be determined on the basis of the rates applicable to ICSID arbitration. Each party shall defray its own costs associated with the arbitration proceedings. The costs of the Tribunal shall be borne by the parties in equal proportion unless the Tribunal decides otherwise. Any question concerning the division of the costs of the Tribunal or the procedure for payment of such costs shall be decided by the Tribunal.
Article 5. Service of Process
Service of any notice or process in connection with any proceeding under this Annex shall be made in writing. It shall be made by the Agency upon the authority designated by the member concerned pursuant to Article 38 of this Convention and by that member at the principal office of the Agency.
SCHEDULE A
Membership and Subscriptions
CATEGORY ONE
Country | Number of Shares | Subscription |
(millions of SDR) | ||
Australia | 1,713 | 17.13 |
Austria | 775 | 7.75 |
Belgium | 2,030 | 20.30 |
Canada | 2,965 | 29.65 |
Denmark | 718 | 7.18 |
Finland | 600 | 6.00 |
France | 4,860 | 48.60 |
Germany, Federal Republic of | 5,071 | 50.71 |
Iceland | 90 | 0.90 |
Ireland | 369 | 3.69 |
Italy | 2,820 | 28.20 |
Japan | 5,095 | 50.95 |
Luxembourg | 116 | 1.16 |
Netherlands | 2,169 | 21.69 |
New Zealand | 513 | 5.13 |
Norway | 699 | 6.99 |
South Africa | 943 | 9.43 |
Sweden | 1,049 | 10.49 |
Switzerland | 1,500 | 15.00 |
United Kingdom | 4,860 | 48.60 |
United States | 20,519 | 205.19 |
______ | ______ | |
59,473 | 594.73 |
Country | Number of Shares | Subscription |
(millions of SDR) | ||
Afghanistan | 118 | 1.18 |
Algeria | 649 | 6.49 |
Antigua and Barbuda | 50 | 0.50 |
Argentina | 1,254 | 12.54 |
Bahamas | 100 | 1.00 |
Bahrain | 77 | 0.77 |
Bangladesh | 340 | 3.40 |
Barbados | 68 | 0.68 |
Belize | 50 | 0.50 |
Benin | 61 | 0.61 |
Bhutan | 50 | 0.50 |
Bolivia | 125 | 1.25 |
Botswana | 50 | 0.50 |
Brazil | 1,479 | 14.79 |
Burkina Faso | 61 | 0.61 |
Burma | 178 | 1.78 |
Burundi | 74 | 0.74 |
Cameroon | 107 | 1.07 |
Cape Verde | 50 | 0.50 |
Central African Republic | 60 | 0.60 |
Chad | 60 | 0.60 |
Chile | 485 | 4.85 |
China | 3,138 | 31.38 |
Colombia | 437 | 4.37 |
Comoros | 50 | 0.50 |
Congo, People's Rep. of the | 65 | 0.65 |
Costa Rica | 117 | 1.17 |
Cyprus | 104 | 1.04 |
Djibouti | 50 | 0.50 |
Dominica | 50 | 0.50 |
Dominican Republic | 147 | 1.47 |
Ecuador | 182 | 1.82 |
Egypt, Arab Republic of | 459 | 4.59 |
El Salvador | 122 | 1.22 |
Equatorial Guinea | 50 | 0.50 |
Ethiopia | 70 | 0.70 |
Fiji | 71 | 0.71 |
Gabon | 96 | 0.96 |
Gambia, The | 50 | 0.50 |
Ghana | 245 | 2.45 |
Greece | 280 | 2.80 |
Grenada | 50 | 0.50 |
Guatemala | 140 | 1.40 |
Guinea | 91 | 0.91 |
Gineau-Bissau | 50 | 0.50 |
Guyana | 84 | 0.84 |
Haiti | 75 | 0.75 |
Honduras | 101 | 1.01 |
Hungary | 564 | 5.64 |
India | 3,048 | 30.48 |
Indonesia | 1,049 | 10.49 |
Iran, Islamic Republic of | 1,659 | 16.59 |
Iraq | 350 | 3.50 |
Israel | 474 | 4.74 |
Ivory Coast | 176 | 1.76 |
Jamaica | 181 | 1.81 |
Jordan | 97 | 0.97 |
Kampuchea, Democratic | 93 | 0.93 |
Kenya | 172 | 1.72 |
Korea, Republic of | 449 | 4.49 |
Kuwait | 930 | 9.30 |
Lao People's Dem. Rep. | 60 | 0.60 |
Lebanon | 142 | 1.42 |
Lesotho | 50 | 0.50 |
Liberia | 84 | 0.84 |
Libyan Arab Jamahiriya | 549 | 5.49 |
Madagascar | 100 | 1.00 |
Malawi | 77 | 0.77 |
Malaysia | 579 | 5.79 |
Maldives | 50 | 0.50 |
Mali | 81 | 0.81 |
Malta | 75 | 0.75 |
Mauritania | 63 | 0.63 |
Mauritius | 87 | 0.87 |
Mexico | 1,192 | 11.92 |
Morocco | 348 | 3.48 |
Mozambique | 97 | 0.97 |
Nepal | 69 | 0.69 |
Nicaragua | 102 | 1.02 |
Niger | 62 | 0.62 |
Nigeria | 844 | 8.44 |
Oman | 94 | 0.94 |
Pakistan | 660 | 6.60 |
Panama | 131 | 1.31 |
Papua New Guinea | 96 | 0.96 |
Paraguay | 80 | 0.80 |
Peru | 373 | 3.73 |
Philippines | 484 | 4.84 |
Portugal | 382 | 3.82 |
Qatar | 137 | 1.37 |
Romania | 555 | 5.55 |
Rwanda | 75 | 0.75 |
St. Christopher and Nevis | 50 | 0.50 |
St. Lucia | 50 | 0.50 |
St. Vincent | 50 | 0.50 |
Sao Tome and Principe | 50 | 0.50 |
Saudi Arabia | 3,137 | 31.37 |
Senegal | 145 | 1.45 |
Seychelles | 50 | 0.50 |
Sierra Leone | 75 | 0.75 |
Singapore | 154 | 1.54 |
Solomon Islands | 50 | 0.50 |
Somalia | 78 | 0.78 |
Spain | 1,285 | 12.85 |
Sri Lanka | 271 | 2.71 |
Sudan | 206 | 2.06 |
Suriname | 82 | 0.82 |
Syrian Arab Republic | 168 | 1.68 |
Swaziland | 58 | 0.58 |
Tanzania | 141 | 1.41 |
Thailand | 421 | 4.21 |
Togo | 77 | 0.77 |
Trinidad and Tobago | 203 | 2.03 |
Tunisia | 156 | 1.56 |
Turkey | 462 | 4.62 |
United Arab Emirates | 372 | 3.72 |
Uganda | 132 | 1.32 |
Uruguay | 202 | 2.02 |
Vanuata | 50 | 0.50 |
Venezuela | 1,427 | 14.27 |
Viet Nam | 220 | 2.20 |
Western Samoa | 50 | 0.50 |
Yemen Arab Republic | 67 | 0.67 |
Yemen, People's Dem. Rep. of | 115 | 1.15 |
Yugoslavia | 635 | 6.35 |
Zaire | 338 | 3.38 |
Zambia | 318 | 3.18 |
Zimbabwe | 236 | 2.36 |
40,527 | 405.27 | |
Total | 100,000 | 1,000.00 |
SCHEDULE B
Election of Directors
1. Candidates for the office of Director shall be nominated by the Governors, provided that a Governor may nominate only one person.
2. The election of Directors shall be by ballot of the Governors.
3. In balloting for the Directors, every Governor shall cast for one candidate all the votes which the member represented by him is entitled to cast under Section (a) of Article 40.
4. One-fourth of the number of Directors shall be elected separately, one by each of the Governors of members having the largest number of shares. If the total number of Directors is not divisible by four, the number of Directors so elected shall be one-fourth of the next lower number that is divisible by four.
5. The remaining Directors shall be elected by the other Governors in accordance with the provisions of paragraphs 6 to 11 of this Schedule.
6. If the number of candidates nominated equals the number of such remaining Directors to be elected, all the candidates shall be elected in the first ballot; except that a candidate or candidates having received less than the minimum percentage of total votes determined by the Council for such election shall not be elected if any candidate shall have received more than the maximum percentage of total votes determined by the Council.
7. If the number of candidates nominated exceeds the number of such remaining Directors to be elected, the candidates receiving the largest number of votes shall be elected with the exception of any candidate who has received less than the minimum percentage of the total votes determined by the Council.
8. If all of such remaining Directors are not elected in the first ballot, a second ballot shall be held. The candidate or candidates not elected in the first ballot shall again be eligible for election.
9. In the second ballot, voting shall be limited to (i) those Governors having voted in the first ballot for a candidate not elected and (ii) those Governors having voted in the first ballot for an elected candidate who had already received the maximum percentage of total votes determined by the Council before taking their votes into account.
10. In determining when an elected candidate has received more than the maximum percentage of the votes, the votes of the Governor casting the largest number of votes for such candidate shall be counted first, then the votes of the Governor casting the next largest number, and so on until such percentage is reached.
11. If not all the remaining Directors have been elected after the second ballot, further ballots shall be held on the same principles until all the remaining Directors are elected, provided that when only one Director remains to be elected, this Director may be elected by a simple majority of the remaining votes and shall be deemed to have been elected by all such votes.
*Countries listed under Category Two are developing member countries for the purposes of this Convention.