International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 99 : increase in subscription of Nicaragua to capital stock of Bank

 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 99 Increase in Subscription of Nicaragua 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 Nicaragua to 22 shares of the capital stock of the Bank in addition to the eight shares of said capital stock heretofore subscribed by Nicaragua, upon the following conditions: (a) That the subscription price per share shall be $100,000 in terms of United States dollars of the weight and fineness in effect on July 1, 1944; (b) That Nicaragua’s subscription shall be received by the Bank on or before October 22, 1956, provided, however, that if extraordinary circumstances are deemed by the Executive Directors to warrant an extension of the date on or before which the subscription shall be received, the Executive Directors may extend such date; (c) That before such subscription shall accepted by the Bank, (i) Nicaragua shall have taken all action which may be necessary to authorize such subscription, and (ii) Nicaragua shall have paid to the Bank, on account of the subscription price of each such additional share, two percent in gold or United States dollars and eighteen percent in currency of Nicaragua. (Adopted on August 21, 1956)