International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 356 : Increase in subscription of China to capital stock of Bank

 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 356 Increase in Subscription of China to Capital Stock of Bank RESOLVED: THAT, pursuant to Article II, Section 3(b) of the Articles of Agreement of the Bank, the Board of Governors hereby authorizes the acceptance by the Bank of the subscription of China to an additional 4,500 shares of the capital stock of the Bank, upon the following conditions; (a) That the subscription price per share shall be par; (b) That China’s subscription shall be received by the Bank on or before December 31, 1980 or such later date as the Executive Directors may determine; (c) That with respect to the subscription price of one-half of such shares, the 2% portion payable in gold or United States dollars and the 18% portion payable in the currency of member shall be left uncalled on the conditions set forth in Resolution No. 129 as governing subscriptions pursuant to Resolution No. 128 of the Board of Governors; and (d) That before such subscription shall be accepted by the Bank, the following action shall have been taken: (i) China shall have taken all action necessary to authorize such subscription and shall furnish to the Bank such information thereon as the Bank may request; and (ii) with respect to and on account of the subscription price of one-half of such shares, China shall pay to the Bank gold or United States dollars equal to 2% of such price, and an amount in its own currency equal to 18% of such price. (Adopted on September 3, 1980)