1, abbreviation

2. Entry into force

Step 3 explain

4. Australia's membership in the International Finance Corporation.

5. Share subscription

Step 6 stipulate

catalogue

The first directory

International Finance Corporation Agreement Terms

Second directory

Resolution 2 1

Third catalogue

Resolution 56

1955 international finance corporation act-full name

Authorize the IFC to accept bills of which Australia is a member and bills of IFC for related purposes.

1 partial abbreviation

1. This law may be called the International Finance Corporation Act 1955. * 1*

See the note in article 1 in this chapter.

Article 2 comes into force

This law shall come into force as of the date of royal approval. * 1*

See the note in article 1 in this chapter.

Section III Interpretation

Replace with No.36, 1966 S.3.

3. In this Law, "agreement" refers to the terms of the agreement of the international finance company listed in the first catalogue of this Law, which are amended according to the resolutions published in the second and third catalogues of this Law, that is, they are adopted as the contents of the resolutions according to the provisions of Article 7 of the above terms.

Section 4 Membership of Australian International Finance Corporation

Replace with No.36, 1966 S.3.

4. The membership of the Australian International Finance Corporation established under this agreement has been approved.

Section 5 Subscription of Capital Stock

5. According to paragraph 3 (a) of Article 2 of the Agreement, the funds required for providing the share capital of the International Finance Corporation subscribed by Australia (that is, the equivalent of 2210.5 million Australian dollars) shall be paid by the unified fiscal revenue fund. Funds should be allocated accordingly.

Section 6 provides that

6.*2*( 1) The Chief Executive may make provisions for the implementation or enforcement of the Agreement, especially Article 6 of the Agreement concerning legal status, immunity and privileges.

(2) Although the provisions made are inconsistent with laws or legally valid documents, they are still valid.

*2* Section 6 was revised according to IFC Section 3.

Act 1963。 Section 2 of the Act provides as follows:

This law shall come into force as of the date specified in the announcement. "

The date is not fixed in 1980 10 3 1, and the changes specified in section 3 are not included in this reprint. Section 3 is described below.

1955 International Finance Corporation Act-Directory 1

Replace the title with the number 69, 196 1.

catalogue

Modify the first directory according to no. 2 16, 1973 (modified according to No.20 1974) and S.3.

The first directory

third segment

After signing the agreement of this association, the government agrees to the following terms:

Quoted paragraph

The International Finance Corporation (hereinafter referred to as the "Company") shall establish and operate its business according to the following terms:

The purpose of the first article

The purpose of IFC is to promote economic development by encouraging the growth of productive private enterprises in member countries, especially in underdeveloped areas, and to supplement the activities of the International Bank for Reconstruction and Development (hereinafter referred to as the Bank). To achieve this goal, the company should:

(i) Cooperate with private investors to help productive private enterprises that can promote the economic development of member countries through investment, and provide funds for the establishment, improvement and expansion of these enterprises when the governments of the member countries concerned cannot obtain sufficient private capital on reasonable terms.

(ii) Seek and combine investment opportunities, domestic and foreign private capital and experienced management technology; and

(iii) Efforts should be made to encourage domestic and foreign private capital to make productive investments in Member States and create favorable conditions for this purpose.

All decisions of the company shall comply with the provisions of this clause.

Article 2 Members and Capital

Section 1 Membership

(a) The founding members of the Company shall be members of the World Bank listed in Appendix A and agree to become members of the Company on or before the date specified in Article 9, paragraph 2 (c).

(b) Other member countries of the bank may become members of the company according to the time and conditions stipulated by the company.

Section 2 Capital

(a) The total authorized capital of the joint venture company shall be USD 65,438+USD 0 billion.

(b) The total authorized capital is divided into 65,438+000,000 shares, each with a par value of 1 000 USD. Any shares not subscribed by the founding members for the first time may be further subscribed according to the provisions of Section 3 (d) of this Article.

(c) The Council may at any time increase the total authorized capital according to the following conditions:

(i) If it is decided by a majority vote that it is necessary to increase the issuance of shares so that members other than the founding members can subscribe for shares for the first time. However, the total amount of any statutory capital increased according to this article shall not exceed 65,438+00,000 shares;

(ii) In any other case, it must be passed by a three-fourths majority of the total voting rights.

(d) If the statutory capital is increased according to the provisions in item (ii) of paragraph (c) above, each member state shall have a reasonable opportunity to subscribe for a certain amount of increased share capital according to the conditions decided by the company, and the proportion shall be equivalent to the subscription ratio of the member state in the total capital of the company at that time. However, member States are not obliged to subscribe for any part of the increased share capital.

(e) If the issued shares are not subscribed initially or in accordance with paragraph (d) of this section, a three-fourths majority of the total voting rights is required.

(f) The shares of the company can only be subscribed and issued to member countries.

Section III Subscription

(a) The number of shares subscribed by each founding member is listed in the names of member countries in Annex A. The number of shares subscribed by other member countries is determined by the company.

(b) The shares subscribed by the founding members for the first time shall be issued at par value.

(c) The initial subscription amount of the founding member shall be paid in full within 30 days after the company starts to operate, or within 30 days after the founding member becomes a member according to Paragraph 3 (b) of Article 9, whichever is later; Or at a later date determined by the company. After the company requests payment, it shall pay in gold or US dollars according to the payment place designated by the company.

(d) Except for the initial subscription of the founding members, the price and terms of the shares shall be determined by the company.

Section 4 Limitation of Liability

Member States are not responsible for the debts of the company because they are member States.

Section 5 Restrictions on Share Transfer and Mortgage

The shares of the company shall not be mortgaged or bear any debts in any way, and can only be transferred to the company.

The third operation

Section 1

Companies can use their funds to invest in productive private enterprises in member countries. Enterprises have the interests of the government or other public institutions, and it is not excluded that companies invest there.

Section 2 Ways of Providing Funds

(a) the company's funds should not be invested in the form of equity. Under the above conditions, the company can use its own funds to invest in one or more forms as it thinks fit, including (but not limited to) investment types that give investors the right to share profits and subscribe for share capital or convert investment into share capital.

(b) The company itself shall not exercise any power to subscribe for share capital or convert investments into share capital.

Section III Operating Principles

The operation of the company shall follow the following principles:

(i) The company shall not provide financial assistance to places where it believes that sufficient private capital can be obtained under reasonable conditions;

(ii) If any member state objects to financing, the company shall not provide financing to enterprises in that member state;

(3) The company should not impose conditions that the funds it supports must be used in the territory of a specific country;

(4) The company is not responsible for the operation and management of the invested enterprises;

(v) After considering the needs of the enterprise, the risks undertaken by the company and the conditions obtained by private investors in providing similar subsidies under normal circumstances, the company may provide funds under the conditions it deems appropriate;

(vi) The company may try to circulate capital by selling its investment to private investors at any suitable time and on satisfactory terms;

(VII) The Company shall strive to maintain reasonable diversification of investment.

Section 4 Protection of Interests

This Agreement shall not prevent the Company from taking necessary actions and exercising necessary rights to protect its interests when any investment of the Company is actually or possibly in default, or when the enterprise invested by the Company is really or possibly unable to pay off its debts, or when other circumstances that the Company thinks may endanger the investment occur.

Section 5 Application of Certain Foreign Exchange Restrictions

In the territory of any member state, the company shall not fail to implement the foreign exchange restrictions, regulations and management measures generally implemented in the territory of that member state just because of any provisions of this agreement.

Section 6 Other businesses

In addition to the business specified otherwise in this agreement, the Company has the right to:

(i) Borrowing funds and providing collateral or other guarantees determined by them; However, before the company publicly sells its securities in the market of a member state, it shall obtain the approval of the member state and the member state whose securities are issued in its currency;

(ii) according to the company's decision, invest the funds not needed for loan business in bonds, and invest the funds held by the company for pension or similar purposes in securities, all of which are not subject to the restrictions stipulated in other sections of this article;

(3) Securities invested by guarantee companies for sale.

(4) buying and selling securities issued, guaranteed or invested by it;

(v) Exercising powers arising from its business, which are necessary or feasible to further realize its purposes.

Section 7 Currency Valuation

When it is necessary to use another currency to estimate the value of any currency according to this agreement, the estimate shall be reasonably determined by the company after consulting the International Monetary Fund.

Section 8 Description of Securities

All securities issued or guaranteed by the company shall clearly state on its face that the securities are not the debts of banks or any government, unless it is clearly stated on the securities.

Section 9 Prohibition of Political Activities

Companies and their officials should not interfere in the political affairs of any member state; All their decisions should not be influenced by the political nature of the Member States concerned. Their decision should only be based on economic considerations and should be weighed fairly to achieve the purpose stipulated in the cost agreement.

Article 4 Organization and Management

Section 1 Company Structure

The company shall have a board of directors, a board of directors, a chairman, a general manager and other officials and staff to perform the duties stipulated by the company.

Section 2 Council

(a) All the powers of the Company shall be vested in the Council.

(b) If the member countries of the bank are also members of the company, the directors and deputy directors of the bank appointed by them shall serve as directors and deputy directors of the company at the same time according to their functions and powers. Except for the absence of directors, deputy directors have no voting rights. The Council shall elect a director as its chairman. If a member state ceases to be a member of the company, its appointed directors and deputy directors shall also stop performing their duties.

(c) The Council may authorize the Board of Directors to exercise any of its powers, except the following:

(i) Admission of new Member States and determination of their admission conditions;

(2) Increase or decrease of share capital.

(iii) Suspension of a Member State;

(iv) To rule on any objection arising from the interpretation of this Agreement by the Board of Directors;

(v) Cooperation arrangements with other international organizations (except temporary and informal administrative arrangements);

(6) Deciding to permanently stop the company's business and distribute the company's property;

(vii) Declaring dividends;

(8) Amend this Agreement.

(d) The board of directors shall convene an annual meeting, and may convene other meetings according to the regulations of the board of directors or the requirements of the board of directors.

(e) The annual meeting of the Council shall be held at the same time as the annual meeting of the Bank Council.

(f) The quorum of the board meeting is more than half of the directors, and their voting rights are not less than two thirds of the total voting rights.

(g) The company may decide to establish a procedure to enable the board of directors to vote on specific issues without convening a board meeting.

(h) If necessary or appropriate, the board of directors and the board of directors within the scope of authorization may handle the company's business through rules and regulations.

(1) The directors and deputy directors of the company are not paid.

Section 3 Voting

(a) Each member country will have 250 votes, plus one vote for each share held.

(b) Unless otherwise specified, all affairs of the company shall be decided by a majority vote.

Section 4 Board of Directors

(a) The board of directors is responsible for the daily business of the company, and to this end, the board of directors shall exercise all the powers granted by this agreement or entrusted by the board of directors.

(b) The board of directors of the Company is composed of the executive directors of the Bank according to their functions and powers, namely:

(i) Designated by a member state of the bank that is also a member state of the company; or

(ii) At least one bank member that is also a member of the company voted in the election.

The deputy executive director of each bank concurrently serves as the deputy director of the company according to his authority. If the member country that appointed the director or all the member countries that voted for the director are no longer members of the company, the director shall immediately stop holding office.

(c) A company director who is an executive director of a bank enjoys the voting rights of the member country that appointed him in the company. Any company director elected by the bank shall have the right to vote in the member countries of the association that elected him in the bank election. Each director has the right to vote as a whole.

(d) If the director is absent, the deputy director appointed by him has full authority to act on his behalf. When the directors are present, the deputy directors may attend the meeting as nonvoting delegates.

(e) The quorum of the board meeting shall be more than half of the directors who exercise at least half of the voting rights.

(f) Board meetings will be held from time to time according to the business needs of the company.

(g) The board of directors shall formulate articles of association to enable the member countries of the company that have no right to appoint executive directors of the bank to send representatives to attend any meeting of the board of directors of the company when discussing the requests of the member countries or matters that have special influence on the member countries.

Section 5 Chairman, General Manager and Employees

(a) The president of the bank is also the ex officio chairman of the board of directors of the company, but he has no right to vote unless the votes are equal. He can attend the meetings of the Council, but he has no right to vote at these meetings.

(b) The general manager of the company shall be nominated by the chairman and appointed by the board of directors. The general manager should be the person in charge of the company's senior management. Under the guidance of the board of directors and the supervision of the chairman, the general manager is responsible for the daily affairs of the company and the appointment, organization and dismissal of company officials and staff under its general control. The general manager can attend the board meeting, but can't vote at the meeting. According to the decision of the board of directors, including the chairman, the general manager stopped his post.

(c) The general manager, officials and employees of the company are fully responsible for the company and are not responsible for other authorities when performing their duties. Members of the company should respect the international nature of such duties and should not try to influence any of them when performing their duties.

(d) When appointing company officials and staff, the most important thing is whether they can meet the highest standards of work efficiency and technical ability, and attention should be paid to the importance of recruiting personnel on as wide a geographical basis as possible.