Rządowy projekt ustawy o ratyfikacji Poprawki do Umowy o Międzynarodowym Funduszu Walutowym dotyczącej reformy Rady Wykonawczej, przyjętej przez Radę Gubernatorów Międzynarodowego Funduszu Walutowego Rezolucją Nr 66-2 w dniu 15 grudnia 2010 r.

following general principles supplemented by such other principles as the Fund may adopt from time
to time:

(i) A participant shall be subject to designation if its balance of payments and gross reserve
position is sufficiently strong, but this will not preclude the possibility that a participant with
a strong reserve position will be designated even though it has a moderate balance of
payments deficit. Participants shall be designated in such manner as will promote over time a
balanced distribution of holdings of special drawing rights among them.

(ii) Participants shall be subject to designation in order to promote reconstitution under
Section 6(a) of this Article, to reduce negative balances in holdings of special drawing rights,
or to offset the effect of failures to fulfill the expectation in Section 3(a) of this Article.

(iii) In designating participants, the Fund normally shall give priority to those that need to
acquire special drawing rights to meet the objectives of designation under (ii) above.

(b) In order to promote over time a balanced distribution of holdings of special drawing rights under
(a)(i) above, the Fund shall apply the rules for designation in Schedule F or such rules as may be
adopted under (c) below.

(c) The rules for designation may be reviewed at any time and new rules shall be adopted if
necessary. Unless new rules are adopted, the rules in force at the time of the review shall continue to
apply.

Section 6. Reconstitution
(a) Participants that use their special drawing rights shall reconstitute their holdings of them in
accordance with the rules for reconstitution in Schedule G or such rules as may be adopted under (b)
below.

(b) The rules for reconstitution may be reviewed at any time and new rules shall be adopted if
necessary. Unless new rules are adopted or a decision is made to abrogate rules for reconstitution, the
rules in force at the time of review shall continue to apply. A seventy percent majority of the total
voting power shall be required for decisions to adopt, modify, or abrogate the rules for reconstitution.

Section 7. Exchange rates
(a) Except as otherwise provided in (b) below, the exchange rates for transactions between
participants under Section 2(a) and (b) of this Article shall be such that participants using special
drawing rights shall receive the same value whatever currencies might be provided and whichever
participants provide those currencies, and the Fund shall adopt regulations to give effect to this
principle.

(b) The Fund, by an eighty-five percent majority of the total voting power, may adopt policies under
which in exceptional circumstances the Fund, by a seventy percent majority of the total voting power,
may authorize participants entering into transactions under Section 2(b) of this Article to agree on
exchange rates other than those applicable under (a) above.

(c) The Fund shall consult a participant on the procedure for determining rates of exchange for its
currency.

(d) For the purpose of this provision the term participant includes a terminating participant.

Article XX
Special Drawing Rights Department Interest and Charges

Section 1. Interest

Interest at the same rate for all holders shall be paid by the Fund to each holder on the amount of its
holdings of special drawing rights. The Fund shall pay the amount due to each holder whether or not
sufficient charges are received to meet the payment of interest.

Section 2. Charges
Charges at the same rate for all participants shall be paid to the Fund by each participant on the
amount of its net cumulative allocation of special drawing rights plus any negative balance of the
participant or unpaid charges.

Section 3. Rate of interest and charges
The Fund shall determine the rate of interest by a seventy percent majority of the total voting power.
The rate of charges shall be equal to the rate of interest.

Section 4. Assessments
When it is decided under Article XVI, Section 2 that reimbursement shall be made, the Fund shall levy
assessments for this purpose at the same rate for all participants on their net cumulative allocations.

Section 5. Payment of interest, charges, and assessments
Interest, charges, and assessments shall be paid in special drawing rights. A participant that needs
special drawing rights to pay any charge or assessment shall be obligated and entitled to obtain them,
for currency acceptable to the Fund, in a transaction with the Fund conducted through the General
Resources Account. If sufficient special drawing rights cannot be obtained in this way, the participant
shall be obligated and entitled to obtain them with a freely usable currency from a participant which
the Fund shall specify. Special drawing rights acquired by a participant after the date for payment shall
be applied against its unpaid charges and cancelled.

Article XXI
Administration of the General Department and the Special Drawing Rights Department

(a) The General Department and the Special Drawing Rights Department shall be administered in
accordance with the provisions of Article XII, subject to the following provisions:

(i) For meetings of or decisions by the Board of Governors on matters pertaining exclusively
to the Special Drawing Rights Department only requests by, or the presence and the votes of,
Governors appointed by members that are participants shall be counted for the purpose of
calling meetings and determining whether a quorum exists or whether a decision is made by
the required majority.

(ii) For decisions by the Executive Board on matters pertaining exclusively to the Special
Drawing Rights Department only Executive Directors appointed or elected by at least one
member that is a participant shall be entitled to vote. Each of these Executive Directors shall
be entitled to cast the number of votes allotted to the member which is a participant that
appointed him or to the members that are participants whose votes counted towards his
election. Only the presence of Executive Directors appointed or elected by members that are
participants and the votes allotted to members that are participants shall be counted for the
purpose of determining whether a quorum exists or whether a decision is made by the
required majority. For the purposes of this provision, an agreement under Article XII,
Section 3(i)(ii) by a member that is a participant shall entitle an appointed Executive Director
to vote and cast the number of votes allotted to the member.

(iii) Questions of the general administration of the Fund, including reimbursement under
Article XVI, Section 2, and any question whether a matter pertains to both Departments or
exclusively to the Special Drawing Rights Department shall be decided as if they pertained
exclusively to the General Department. Decisions with respect to the method of valuation of
the special drawing right, the acceptance and holding of special drawing rights in the General

Resources Account of the General Department and the use of them, and other decisions
affecting the operations and transactions conducted through both the General Resources
Account of the General Department and the Special Drawing Rights Department shall be
made by the majorities required for decisions on matters pertaining exclusively to each
Department. A decision on a matter pertaining to the Special Drawing Rights Department
shall so indicate.

(b) In addition to the privileges and immunities that are accorded under Article IX of this
Agreement, no tax of any kind shall be levied on special drawing rights or on operations or
transactions in special drawing rights.

(c) A question of interpretation of the provisions of this Agreement on matters pertaining
exclusively to the Special Drawing Rights Department shall be submitted to the Executive Board
pursuant to Article XXIX(a) only on the request of a participant. In any case where the Executive
Board has given a decision on a question of interpretation pertaining exclusively to the Special
Drawing Rights Department only a participant may require that the question be referred to the Board
of Governors under Article XXIX(b). The Board of Governors shall decide whether a Governor
appointed by a member that is not a participant shall be entitled to vote in the Committee on
Interpretation on questions pertaining exclusively to the Special Drawing Rights Department.

(d) Whenever a disagreement arises between the Fund and a participant that has terminated its
participation in the Special Drawing Rights Department or between the Fund and any participant
during the liquidation of the Special Drawing Rights Department with respect to any matter arising
exclusively from participation in the Special Drawing Rights Department, the disagreement shall be
submitted to arbitration in accordance with the procedures in Article XXIX(c).

Article XXII
General Obligations of Participants

In addition to the obligations assumed with respect to special drawing rights under other articles of this
Agreement, each participant undertakes to collaborate with the Fund and with other participants in
order to facilitate the effective functioning of the Special Drawing Rights Department and the proper
use of special drawing rights in accordance with this Agreement and with the objective of making the
special drawing right the principal reserve asset in the international monetary system.

Article XXIII
Suspension of Operations and Transactions in Special Drawing Rights

Section 1. Emergency provisions
In the event of an emergency or the development of unforeseen circumstances threatening the
activities of the Fund with respect to the Special Drawing Rights Department, the Executive Board, by
an eighty-five percent majority of the total voting power, may suspend for a period of not more than
one year the operation of any of the provisions relating to operations and transactions in special
drawing rights, and the provisions of Article XXVII, Section l(b), (c), and (d) shall then apply.

Section 2. Failure to fulfill obligations
(a) If the Fund finds that a participant has failed to fulfill its obligations under Article XIX, Section
4, the right of the participant to use its special drawing rights shall be suspended unless the Fund
otherwise decides.

(b) If the Fund finds that a participant has failed to fulfill any other obligation with respect to
special drawing rights, the Fund may suspend the right of the participant to use special drawing rights
it acquires after the suspension.


(c) Regulations shall be adopted to ensure that before action is taken against any participant under
(a) or (b) above, the participant shall be informed immediately of the complaint against it and given an
adequate opportunity for stating its case, both orally and in writing. Whenever the participant is thus
informed of a complaint relating to (a) above, it shall not use special drawing rights pending the
disposition of the complaint.

(d) Suspension under (a) or (b) above or limitation under (c) above shall not affect a participant's
obligation to provide currency in accordance with Article XIX, Section 4.

(e) The Fund may at any time terminate a suspension under (a) or (b) above, provided that a
suspension imposed on a participant under (b) above for failure to fulfill the obligations under Article
XIX, Section 6(a) shall not be terminated until one hundred eighty days after the end of the first
calendar quarter during which the participant complies with the rules for reconstitution.

(f) The right of a participant to use its special drawing rights shall not be suspended because it has
become ineligible to use the Fund's general resources under Article V, Section 5, Article VI, Section 1,
or Article XXVI, Section 2(a). Article XXVI, Section 2 shall not apply because a participant has failed
to fulfill any obligations with respect to special drawing rights.

Article XXIV
Termination of Participation

Section 1. Right to terminate participation
(a) Any participant may terminate its participation in the Special Drawing Rights Department at any
time by transmitting a notice in writing to the Fund at its principal office. Termination shall become
effective on the date the notice is received.

(b) A participant that withdraws from membership in the Fund shall be deemed to have
simultaneously terminated its participation in the Special Drawing Rights Department.

Section 2. Settlement on termination
(a) When a participant terminates its participation in the Special Drawing Rights Department, all
operations and transactions by the terminating participant in special drawing rights shall cease except
as otherwise permitted under an agreement made pursuant to (c) below in order to facilitate a
settlement or as provided in Sections 3, 5, and 6 of this Article or in Schedule H. Interest and charges
that accrued to the date of termination and assessments levied before that date but not paid shall be
paid in special drawing rights.

(b) The Fund shall be obligated to redeem all special drawing rights held by the terminating
participant, and the terminating participant shall be obligated to pay to the Fund an amount equal to its
net cumulative allocation and any other amounts that may be due and payable because of its
participation in the Special Drawing Rights Department. These obligations shall be set off against each
other and the amount of special drawing rights held by the terminating participant that is used in the
setoff to extinguish its obligation to the fund shall be cancelled.

(c) A settlement shall be made with reasonable despatch by agreement between the terminating
participant and the Fund with respect to any obligation of the terminating participant or the Fund after
the setoff in (b) above. If agreement on a settlement is not reached promptly the provisions of
Schedule H shall apply.

Section 3. Interest and charges
After the date of termination the Fund shall pay interest on any outstanding balance of special drawing
rights held by a terminating participant, and the terminating participant shall pay charges on any
outstanding obligation owed to the Fund at the times and rates prescribed under Article XX. Payment
shall be made in special drawing rights. A terminating participant shall be entitled to obtain special

drawing rights with a freely usable currency to pay charges or assessments in a transaction with a
participant specified by the Fund or by agreement from any other holder, or to dispose of special
drawing rights received as interest in a transaction with any participant designated under Article XIX,
Section 5 or by agreement with any other holder.

Section 4. Settlement of obligation to the Fund
Currency received by the Fund from a terminating participant shall be used by the Fund to redeem
special drawing rights held by participants in proportion to the amount by which each participant's
holdings of special drawing rights exceed its net cumulative allocation at the time the currency is
received by the Fund. Special drawing rights so redeemed and special drawing rights obtained by a
terminating participant under the provisions of this Agreement to meet any installment due under an
agreement on settlement or under Schedule H and set off against that installment shall be cancelled.

Section 5. Settlement of obligation to a terminating participant
Whenever the Fund is required to redeem special drawing rights held by a terminating participant,
redemption shall be made with currency provided by participants specified by the Fund. These
participants shall be specified in accordance with the principles in Article XIX, Section 5. Each
specified participant shall provide at its option the currency of the terminating participant or a freely
usable currency to the Fund and shall receive an equivalent amount of special drawing rights.
However, a terminating participant may use its special drawing rights to obtain its own currency, a
freely usable currency, or any other asset from any holder, if the Fund so permits.

Section 6. General Resources Account transactions
In order to facilitate settlement with a terminating participant, the Fund may decide that a terminating
participant shall:

(i) use any special drawing rights held by it after the setoff in Section 2(b) of this Article,
when they are to be redeemed, in a transaction with the Fund conducted through the General
Resources Account to obtain its own currency or a freely usable currency at the option of the
Fund; or

(ii) obtain special drawing rights in a transaction with the Fund conducted through the
General Resources Account for a currency acceptable to the Fund to meet any charges or
installment due under an agreement or the provisions of Schedule H.

Article XXV
Liquidation of the Special Drawing Rights Department

(a) The Special Drawing Rights Department may not be liquidated except by decision of the Board
of Governors. In an emergency, if the Executive Board decides that liquidation of the Special Drawing
Rights Department may be necessary, it may temporarily suspend allocations or cancellations and all
operations and transactions in special drawing rights pending decision by the Board of Governors. A
decision by the Board of Governors to liquidate the Fund shall be a decision to liquidate both the
General Department and the Special Drawing Rights Department.

(b) If the Board of Governors decides to liquidate the Special Drawing Rights Department, all
allocations or cancellations and all operations and transactions in special drawing rights and the
activities of the Fund with respect to the Special Drawing Rights Department shall cease except those
incidental to the orderly discharge of the obligations of participants and of the Fund with respect to
special drawing rights, and all obligations of the Fund and of participants under this Agreement with
respect to special drawing rights shall cease except those set out in this Article, Article XX, Article
XXI(d), Article XXIV, Article XXIX(c), and Schedule H, or any agreement reached under Article
XXIV subject to paragraph 4 of Schedule H, and Schedule I.