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International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 121 : increase in subscription of the Philippines to capital stock of Bank (English)

On February 7, 1958, International Bank for Reconstruction and Development (IBRD) Board of Governors adopted resolution number one hundred and twenty-one. It was resolved that the Board of Governors shall authorize the acceptance by the Bank of the subscription of the Philippines to 350 shares of the capital stock of the Bank in addition to the 150 shares of said capital stock subscribed by the Philippines, upon the following conditions: (i) the subscription price per share shall be $100,000 in terms of United States dollars of the weight and fineness in effect on July 1, 1944; (ii) the Philippines' subscription shall be received by the Bank on or before April 7, 1958, provided, however, that if extraordinary circumstances are deemed by the Executive Directors to warrant an extension of this date, the Executive Directors may extend it; and (iii) before such subscription shall be accepted by the Bank, (i) the Philippines shall have taken all action which may be necessary to authorize such subscription and shall have furnished to the Bank such information thereon as the Bank may request, and (ii) the Philippines shall have paid to the Bank, on account of the subscription price of such additional shares, two percent in gold or United States dollars and eighteen percent in currency of the Philippines.

Details

  • Document Date

    1958/02/07

  • Document Type

    Board Report

  • Report Number

    83592

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Philippines,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2014/02/18

  • Disclosure Status

    Disclosed

  • Doc Name

    International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 121 : increase in subscription of the Philippines to capital stock of Bank

  • Keywords

    capital stock;subscription price;extraordinary circumstances;

Downloads

COMPLETE REPORT

Official version of document (may contain signatures, etc)

Citation

International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 121 : increase in subscription of the Philippines to capital stock of Bank (English). IBRD Board of Governors Resolution ; no. 121 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/804461468294584439/International-Bank-for-Reconstruction-and-Development-IBRD-Board-of-Governors-resolution-no-121-increase-in-subscription-of-the-Philippines-to-capital-stock-of-Bank