International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 120 : terms and conditions on which the United Kingdom of Libya shall be admitted to membership in the Bank

 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 120 Terms and Conditions on which the United Kingdom of Libya shall be Admitted to Membership in the Bank WHEREAS, the Board of Governors, on September 25, 1957, adopted Resolution No. 112 setting forth the terms and conditions on which the United Kingdom of Libya shall be admitted to membership in the Bank; and WHEREAS, the Government of the United Kingdom of Libya has requested that its subscription shall be increased to $5 million; and WHEREAS, pursuant to Section 20 of the By-Laws of the Bank, the Executive Directors have made recommendations to the Board of Governors regarding this request; NOW, THEREFORE, the Board of Governors hereby RESOLVES: THAT Section 2 of Resolution No. 112 be amended to read as follows: 2. Subscription: By accepting membership in the Bank, the United Kingdom of Libya shall subscribe to 50 shares of the capital stock of the Bank at a par value of $100,000 per share. (Adopted on January 24, 1958)