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.

(c) Upon liquidation of the Special Drawing Rights Department, interest and charges that accrued to
the date of liquidation and assessments levied before that date but not paid shall be paid in special
drawing rights. The Fund shall be obligated to redeem all special drawing rights held by holders, and
each participant shall be obligated to pay the Fund an amount equal to its net cumulative allocation of
special drawing rights and such other amounts as may be due and payable because of its participation
in the Special Drawing Rights Department.

(d) Liquidation of the Special Drawing Rights Department shall be administered in accordance with
the provisions of Schedule I.

Article XXVI
Withdrawal from Membership

Section 1. Right of members to withdraw
Any member may withdraw from the Fund at any time by transmitting a notice in writing to the Fund
at its principal office. Withdrawal shall become effective on the date such notice is received.

Section 2. Compulsory withdrawal
(a) If a member fails to fulfill any of its obligations under this Agreement, the Fund may declare the
member ineligible to use the general resources of the Fund. Nothing in this Section shall be deemed to
limit the provisions of Article V, Section 5 or Article VI, Section 1.

(b) If, after the expiration of a reasonable period the member persists in its failure to fulfill any of its
obligations under this Agreement, that member may be required to withdraw from membership in the
Fund by a decision of the Board of Governors carried by a majority of the Governors having eighty-
five percent of the total voting power.

(c) Regulations shall be adopted to ensure that before action is taken against any member under (a)
or (b) above, the member shall be informed in reasonable time of the complaint against it and given an
adequate opportunity for stating its case, both orally and in writing.

Section 3. Settlement of accounts with members withdrawing
When a member withdraws from the Fund, normal operations and transactions of the Fund in its
currency shall cease and settlement of all accounts between it and the Fund shall be made with
reasonable despatch by agreement between it and the Fund. If agreement is not reached promptly, the
provisions of Schedule J shall apply to the settlement of accounts.

Article XXVII
Emergency Provisions

Section 1. Temporary suspension
(a) In the event of an emergency or the development of unforeseen circumstances threatening the
activities of the Fund, 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 following
provisions:

(i) Article V, Sections 2, 3, 7, 8(a)(i) and (e);

(ii) Article VI, Section 2;

(iii) Article XI, Section 1;

(iv) Schedule C, paragraph 5.


(b) A suspension of the operation of a provision under (a) above may not be extended beyond one
year except by the Board of Governors which, by an eighty-five percent majority of the total voting
power, may extend a suspension for an additional period of not more than two years if it finds that the
emergency or unforeseen circumstances referred to in (a) above continue to exist.

(c) The Executive Board may, by a majority of the total voting power, terminate such suspension at
any time.

(d) The Fund may adopt rules with respect to the subject matter of a provision during the period in
which its operation is suspended.

Section 2. Liquidation of the Fund
(a) The Fund may not be liquidated except by decision of the Board of Governors. In an emergency,
if the Executive Board decides that liquidation of the Fund may be necessary, it may temporarily
suspend all operations and transactions, pending decision by the Board of Governors.

(b) If the Board of Governors decides to liquidate the Fund, the Fund shall forthwith cease to
engage in any activities except those incidental to the orderly collection and liquidation of its assets
and the settlement of its liabilities, and all obligations of members under this Agreement shall cease
except those set out in this Article, in Article XXIX(c), in Schedule J, paragraph 7, and in Schedule K.

(c) Liquidation shall be administered in accordance with the provisions of Schedule K.

Article XXVIII
Amendments

a) Any proposal to introduce modifications in this Agreement, whether emanating from a member, a
Governor, or the Executive Board, shall be communicated to the chairman of the Board of Governors
who shall bring the proposal before the Board of Governors. If the proposed amendment is approved
by the Board of Governors, the Fund shall, by circular letter or telegram, ask all members whether they
accept the proposed amendment. When three-fifths of the members, having eighty-five percent of the
total voting power, have accepted the proposed amendment, the Fund shall certify the fact by a formal
communication addressed to all members.

(b) Notwithstanding (a) above, acceptance by all members is required in the case of any amendment
modifying:

(i) the right to withdraw from the Fund (Article XXVI, Section 1);

(ii) the provision that no change in a member's quota shall be made without its consent
(Article III, Section 2(d)); and

(iii) the provision that no change may be made in the par value of a member's currency
except on the proposal of that member (Schedule C, paragraph 6).

(c) Amendments shall enter into force for all members three months after the date of the formal
communication unless a shorter period is specified in the circular letter or telegram.

Article XXIX
Interpretation

(a) Any question of interpretation of the provisions of this Agreement arising between any member
and the Fund or between any members of the Fund shall be submitted to the Executive Board for its
decision. If the question particularly affects any member not entitled to appoint an Executive Director,
it shall be entitled to representation in accordance with Article XII, Section 3(j).


(b) In any case where the Executive Board has given a decision under (a) above, any member may
require, within three months from the date of the decision, that the question be referred to the Board of
Governors, whose decision shall be final. Any question referred to the Board of Governors shall be
considered by a Committee on Interpretation of the Board of Governors. Each Committee member
shall have one vote. The Board of Governors shall establish the membership, procedures, and voting
majorities of the Committee. A decision of the Committee shall be the decision of the Board of
Governors unless the Board of Governors, by an eighty-five percent majority of the total voting power,
decides otherwise. Pending the result of the reference to the Board of Governors the Fund may, so far
as it deems necessary, act on the basis of the decision of the Executive Board.

(c) Whenever a disagreement arises between the Fund and a member which has withdrawn, or
between the Fund and any member during liquidation of the Fund, such disagreement shall be
submitted to arbitration by a tribunal of three arbitrators, one appointed by the Fund, another by the
member or withdrawing member, and an umpire who, unless the parties otherwise agree, shall be
appointed by the President of the International Court of Justice or such other authority as may have
been prescribed by regulation adopted by the Fund. The umpire shall have full power to settle all
questions of procedure in any case where the parties are in disagreement with respect thereto.

Article XXX
Explanation of Terms

In interpreting the provisions of this Agreement the Fund and its members shall be guided by the
following provisions:
(a) The Fund's holdings of a member's currency in the General Resources Account shall include any
securities accepted by the Fund under Article III, Section 4.

(b) Stand-by arrangement means a decision of the Fund by which a member is assured that it will be
able to make purchases from the General Resources Account in accordance with the terms of the
decision during a specified period and up to a specified amount.

(c) Reserve tranche purchase means a purchase by a member of special drawing rights or the
currency of another member in exchange for its own currency which does not cause the Fund's
holdings of the member's currency in the General Resources Account to exceed its quota, provided that
for the purposes of this definition the Fund may exclude purchases and holdings under:

(i) policies on the use of its general resources for compensatory financing of export
fluctuations;

(ii) policies on the use of its general resources in connection with the financing of
contributions to international buffer stocks of primary products; and

(iii) other policies on the use of its general resources in respect of which the Fund decides, by
an eighty-five percent majority of the total voting power, that an exclusion shall be made.

(d) Payments for current transactions means payments which are not for the purpose of transferring
capital, and includes, without limitation:

(1) all payments due in connection with foreign trade, other current business, including
services, and normal short-term banking and credit facilities;

(2) payments due as interest on loans and as net income from other investments;

(3) payments of moderate amount for amortization of loans or for depreciation of direct
investments; and


(4) moderate remittances for family living expenses.

The Fund may, after consultation with the members concerned, determine whether certain specific
transactions are to be considered current transactions or capital transactions.

(e) Net cumulative allocation of special drawing rights means the total amount of special drawing
rights allocated to a participant less its share of special drawing rights that have been cancelled under
Article XVIII, Section 2(a).

(f) A freely usable currency means a member's currency that the Fund determines (i) is, in fact,
widely used to make payments for international transactions, and (ii) is widely traded in the principal
exchange markets.

(g) Members that were members on August 31, 1975 shall be deemed to include a member that
accepted membership after that date pursuant to a resolution of the Board of Governors adopted before
that date.

(h) Transactions of the Fund means exchanges of monetary assets by the Fund for other monetary
assets. Operations of the Fund means other uses or receipts of monetary assets by the Fund.

(i) Transactions in special drawing rights means exchanges of special drawing rights for other
monetary assets. Operations in special drawing rights means other uses of special drawing rights.

Article XXXI
Final Provisions

Section 1. Entry into force
This Agreement shall enter into force when it has been signed on behalf of governments having sixty-
five percent of the total of the quotas set forth in Schedule A and when the instruments referred to in
Section 2(a) of this Article have been deposited on their behalf, but in no event shall this Agreement
enter into force before May 1, 1945.

Section 2. Signature
(a) Each government on whose behalf this Agreement is signed shall deposit with the Government
of the United States of America an instrument setting forth that it has accepted this Agreement in
accordance with its law and has taken all steps necessary to enable it to carry out all of its obligations
under this Agreement.

(b) Each country shall become a member of the Fund as from the date of the deposit on its behalf of
the instrument referred to in (a) above, except that no country shall become a member before this
Agreement enters into force under Section 1 of this Article.

(c) The Government of the United States of America shall inform the governments of all countries
whose names are set forth in Schedule A, and the governments of all countries whose membership is
approved in accordance with Article II, Section 2, of all signatures of this Agreement and of the
deposit of all instruments referred to in (a) above.

(d) At the time this Agreement is signed on its behalf, each government shall transmit to the
Government of the United States of America one one-hundredth of one percent of its total subscription
in gold or United States dollars for the purpose of meeting administrative expenses of the Fund. The
Government of the United States of America shall hold such funds in a special deposit account and
shall transmit them to the Board of Governors of the Fund when the initial meeting has been called. If
this Agreement has not come into force by December 31, 1945, the Government of the United States
of America shall return such funds to the governments that transmitted them.


(e) This Agreement shall remain open for signature at Washington on behalf of the governments of
the countries whose names are set forth in Schedule A until December 31, 1945.

(f) After December 31, 1945, this Agreement shall be open for signature on behalf of the
government of any country whose membership has been approved in accordance with Article II,
Section 2.

(g) By their signature of this Agreement, all governments accept it both on their own behalf and in
respect of all their colonies, overseas territories, all territories under their protection, suzerainty, or
authority, and all territories in respect of which they exercise a mandate.

(h) SubSection (d) above shall come into force with regard to each signatory government as from
the date of its signature.
[The signature and depositary clause reproduced below followed the text of Article XX in the original
Articles of Agreement]

Done at Washington, in a single copy which shall remain deposited in the archives of the Government
of the United States of America, which shall transmit certified copies to all governments whose names
are set forth in Schedule A and to all governments whose membership is approved in accordance with
Article II, Section 2.

Schedule A
Quotas

(In millions of United States dollars)

Australia ...........................................................200 India .................................................................400
Belgium.............................................................225 Iran .....................................................................25
Bolivia ............................................................... 10 Iraq .......................................................................8
Brazil ............................................................ 150 Liberia ...............................................................0,5
Canada...............................................................300 Luxembourg .......................................................10
Chile ...................................................................50 Mexico ..............................................………….90
China.................................................................550 Netherlands................................……...............275
Colombia.............................................................50 New Zealand.......................................................50
Costa Rica ............................................................5 Nicaragua .............................................................2
Cuba....................................................................50 Nowary... ............................................................50
Czechoslovakia ................................................125 Panama ..............................................................0,5
Denmark*............................................................. * Paraguay ..............................................................2
Dominican Republic…….....................................5 Peru ....................................................................25
Ecuador .............................................…………...5 Philippine Common wealth................................15
Egypt ..................................................................45 Poland ..............................................................125
El Salvador ........................................................2,5 Union of South Africa……..............................100
Ethiopia ................................................................6 Union of Soviet Socialist Republics...............1200
France. ..............................................................450 United Kingdom ............................................1300
Greece ................................................................40 United States…… .........................................2750
Guatemala ............................................................5 Uruguay ............................................................15
Haiti ................................................……………..5 Venezuela .........................................................15
Honduras......................................…………......2,5 Yugoslavia ......................................………….60
Iceland .................................................................1

*The quota of Denmark shall be determined by the Fund after the Danish Government has declared its
readiness to sign this Agreement but before signature takes place.