Artikel VI

Section 1. - Forms of Loans
Loans made by the Fund shall be in one of the following forms:
(i) loans to Member Governments of the Fund;
(ii) loans guaranteed by a Member Government of the Fund granted to any legal person approved by that Member;
(iii) loans guaranteed by a Member Government of the Fund and granted to migrants through the intermediary of the member or of any legal person approved by that member;
(iv) loans granted to any legal person approved by a Member Government of the Fund, when the Administrative Council is satisfied that the loan requested is covered by adequate guarantees and fulfils the requirements laid down in Section 3 below with regard to the loans mentioned in paragraphs (i), (ii) and (iii) of the present Section.1)Provision adopted at the third meeting of the Governing Body (Fonds/CD PV 3 (1957))
Section 2. - Guarantees
The Fund may grant its guarantee for transactions arising from the realisation of the aims set out in Article II, conditions to be determined for each particular case.
Section 3. - Obligations of Borrower or Guarantor
(a) The obligations of Member Governments of the Fund under loans granted pursuant to Section 1 (i) of this Article and the guarantees of Member Governments of the Fund under Section 1 (ii) and 1 (iii) of this Article must in each case be an unconditional promise: (i) to repay, within a specified period, a specified sum expressed in a specified currency, and
(ii) to pay interest and, where necessary, a commission in respect of the specified sum, at a specified rate, at specified intervals and beginning on a specified date.
(i) to repay, within a specified period, a specified sum expressed in a specified currency, and
(ii) to pay interest and, where necessary, a commission in respect of the specified sum, at a specified rate, at specified intervals and beginning on a specified date.
(b) In determining the currencies in which obligations of Member Governments of the Fund, whether borrowers or guarantors, shall be expressed, the Fund shall seek to maintain a balance in amounts and currencies between its assets, including such obligations, and the subscription prices paid by its members, including any payments pursuant to Article IV, Section 3.
Section 4. - Subrogation
In the loan contracts guaranteed in accordance with Section 1 (ii) and 1 (iii) of this Article, it shall be laid down that the guarantor, upon satisfying its obligation to the Fund under the guarantee, shall be subrogated to the corresponding claims of the Fund against the principal borrower or borrowers.
Section 5. - Supporting Statements by Members
In support of applications for loans to be granted in connection with resettlement or absorption programmes, the Fund shall receive a statement by a Member that:
(i) it approves the programmes;
(ii) it believes that the programme will result in the successful resettlement or absorption of persons resident in the European territory of the member;
(iii) it believes that the funds to be supplied by the Fund are not available upon reasonable terms from any other source.
Section 6. - Supporting Information
The Administrative Council referred to in Article X of these Regulations shall determine what information and pledges a borrower shall be required to furnish in support of its application.