BWBV0004446
Geldig vanaf 05-07-2002
Artikel 45
Overeenkomst tot oprichting van de Afrikaanse Ontwikkelingsbank, gedaan te Khartoem op 4 augustus 1963, zoals gewijzigd bij Resolutie 05-79 aangenomen door de Raad van Bestuur op 17 mei 1979
1. After the date on which a State ceases to be a member (hereinafter in this article called the “termination date”), the member shall remain liable for its direct obligations to the Bank and for its contingent liabilities to the Bank so long as any part of the loans for guarantees contracted before the termination date is outstanding; but it shall cease to incur liabilities with respect to loans and guarantees entered into thereafter by the Bank and to share either in the income or the expenses of the Bank.
2. At the time a State ceases to be a member, the Bank shall arrange for the repurchase of its shares as a part of the settlement of accounts with that State in accordance with the provisions of paragraphs 3. and 4. of this article. For this purpose, the repurchase price of the shares shall be the value shown by the books of the Bank on the termination date.
3. The payment for shares repurchased by the Bank under this article shall be governed by the following conditions:
a. Any amount due to the State concerned for its shares shall be withheld so long as that State, its central Bank or any of its agencies remains liable, as borrower or guarantor, to the Bank and such amount may, at the option of the Bank, be applied on any such liability as it matures. No amount shall be withheld on account of the liability of the State resulting from its subscription for shares in accordance with paragraph 4. of article 7 of this Agreement. In any event, no amount due to a member for its shares shall be paid until six months after the termination date.
b. Payments for shares may be made from time to time, upon their surrender by the Government of the State concerned, to the extent by which the amount due as the repurchase price in accordance with paragraph 2. of this article exceeds the aggregate amount of liabilities on loans and guarantees referred to in sub-paragraph a. of this paragraph until the former member has received the full repurchase price.
c. Payments shall be made in the currency of the State receiving payment or, if such currency is not available, in convertible currency.
d. If losses are sustained by the Bank on any guarantees or loans which were outstanding on the termination date and the amount of such losses exceeds the amount of the reserve provided against losses on that date, the State concerned shall repay, upon demand, the amount by which the repurchase price of its shares would have been reduced, if the losses had been taken into account when the repurchase price was determined. In addition, the former member shall remain liable on any call for unpaid subscriptions in accordance with paragraph 4. of article 7 of this Agreement, to the extent that it would have been required to respond if the impairment of capital had occurred and the call had been made at the time the repurchase price of its shares was determined.
4. If the Bank terminates its operations pursuant to article 47 of this Agreement within six months of the termination date, all rights of the State concerned shall be determined in accordance with the provisions of its articles 47 to 49.
2. At the time a State ceases to be a member, the Bank shall arrange for the repurchase of its shares as a part of the settlement of accounts with that State in accordance with the provisions of paragraphs 3. and 4. of this article. For this purpose, the repurchase price of the shares shall be the value shown by the books of the Bank on the termination date.
3. The payment for shares repurchased by the Bank under this article shall be governed by the following conditions:
a. Any amount due to the State concerned for its shares shall be withheld so long as that State, its central Bank or any of its agencies remains liable, as borrower or guarantor, to the Bank and such amount may, at the option of the Bank, be applied on any such liability as it matures. No amount shall be withheld on account of the liability of the State resulting from its subscription for shares in accordance with paragraph 4. of article 7 of this Agreement. In any event, no amount due to a member for its shares shall be paid until six months after the termination date.
b. Payments for shares may be made from time to time, upon their surrender by the Government of the State concerned, to the extent by which the amount due as the repurchase price in accordance with paragraph 2. of this article exceeds the aggregate amount of liabilities on loans and guarantees referred to in sub-paragraph a. of this paragraph until the former member has received the full repurchase price.
c. Payments shall be made in the currency of the State receiving payment or, if such currency is not available, in convertible currency.
d. If losses are sustained by the Bank on any guarantees or loans which were outstanding on the termination date and the amount of such losses exceeds the amount of the reserve provided against losses on that date, the State concerned shall repay, upon demand, the amount by which the repurchase price of its shares would have been reduced, if the losses had been taken into account when the repurchase price was determined. In addition, the former member shall remain liable on any call for unpaid subscriptions in accordance with paragraph 4. of article 7 of this Agreement, to the extent that it would have been required to respond if the impairment of capital had occurred and the call had been made at the time the repurchase price of its shares was determined.
4. If the Bank terminates its operations pursuant to article 47 of this Agreement within six months of the termination date, all rights of the State concerned shall be determined in accordance with the provisions of its articles 47 to 49.
- Citeren als
- Art. 45
- Geldig vanaf
- Status
- Geldend recht
- Identificatie
- BWBV0004446
- Officiële bron
- wetten.overheid.nl