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International Finance Corporation (IFC) Board of Governors resolution ; no. 256 : Amendment to the articles of agreement and 2010 selective capital increase (English)

On March 9, 2012, the International Finance Corporation (IFC) Board of Governors adopted resolution number two hundred and fifty six. It was resolved that: (a) Article IV, Section 3(a) of the Articles of Agreement of the Corporation shall be amended to read as follows, "The voting power of each member shall be equal to the sum of its basic votes and share votes."; (b) the amendment shall enter into force for all members as of the date three months after the Corporation certifies, by formal communication addressed to all members, that three-fifths of the Governors exercising eighty-five percent of the total voting power, have accepted the amendment; (c) the authorized capital stock of the Corporation is hereby increased by $130 million in terms of United States dollars, by the creation of 130,000 additional shares; (d) in the absence of notice received by the Corporation from any member within 21 days of the date of the transmission of this Resolution to the Governors for voting; (e) the increase of authorized capital stock of the Corporation shall become effective when the amendment of this Resolution shall have entered into force; (f) the Board of Governors resolves that the Corporation is hereby authorized to accept additional subscriptions to shares of its capital stock upon conditions; (g) each subscription authorized shall have terms and conditions; and (h) the Board of Governors hereby resolves that IFC shareholding shall be reviewed every five years, starting in 2015.

Details

  • Document Date

    2012/03/09

  • Document Type

    Board Report

  • Report Number

    85035

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    World,

  • Region

    The World Region,

  • Disclosure Date

    2014/07/01

  • Disclosure Status

    Disclosed

  • Doc Name

    International Finance Corporation (IFC) Board of Governors resolution ; no. 256 : Amendment to the articles of agreement and 2010 selective capital increase

  • Keywords

    authorized capital;number of shares;share of capital;promissory note;currency or currencies;voting power;subscription price;Freely Convertible Currency;countries in transition;allocation of share;share of stock;basic vote;equal distribution;capital stock;formal communication;voting right;cash payment;

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COMPLETE REPORT

Official version of document (may contain signatures, etc)

Citation

International Finance Corporation (IFC) Board of Governors resolution ; no. 256 : Amendment to the articles of agreement and 2010 selective capital increase (English). IFC Board of Governors Resolution ; no. 256 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/664621468327002978/International-Finance-Corporation-IFC-Board-of-Governors-resolution-no-256-Amendment-to-the-articles-of-agreement-and-2010-selective-capital-increase

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