INTERNATIONAL FINANCE CORPORATION ACT 1955 - SCHEDULE A - Subscriptions to capital stock of the International Finance Corporation

Commonwealth Consolidated Acts

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INTERNATIONAL FINANCE CORPORATION ACT 1955 - SCHEDULE A

- Subscriptions to capital stock of the International Finance Corporation

Country	Number of shares	Amount (in United States Dollars)
Australia	2,215	2,215,000
Austria	554	554,000
Belgium	2,492	2,492,000
Bolivia	78	78,000
Brazil	1163	1,163,000
Burma	166	166,000
Canada	3,600	3,600,000
Ceylon	166	166,000
Chile	388	388,000
China	6,646	6,646,000
Colombia	388	388,000
Costa Rica	22	22,000
Cuba	388	388,000
Denmark.	753	753,000
Dominican Republic	22	22,000
Ecuador	35	35,000
Egypt.	590	590,000
El Salvado	11	11,000
Ethiopia	33	33,000
Finland	421	421,000
France	5,815	5,815,000
Germany	3,655	3,655,000
Greece	277	277,000
Guatemala	22	22,000
Haiti	22	22,000
Honduras	11	11,000
Iceland	11	11,000
India	4,431	4,431,000
Indonesia	1218	1,218,000
Iran	372	372,000
Iraq	67	67,000
Israel	50	50,000
Italy	1994	1,994,000
Japan	2,769	2,769,000
Jordan	33	33,000
Lebanon	50	50,000
Luxembourg	111	111,000
Mexico	720	720,000
Netherlands	3,046	3,046,000
Nicaragua	9	9,000
Norway	554	554,000
Pakistan	1,108	1,108,000
Panama	2	2,000
Paraguay	16	16,000
Peru	194	194,000
Philippines	166	166,000
Sweden	1,108	1,108,000
Syria	72	72,000
Thailand	139	139,000
Turkey	476	476,000
Union of South Africa	1,108	1,108,000
United Kingdom	14,400	14,400,000
United States	35,168	35,168,000
Uruguay	116	116,000
Venezuela	116	116,000
Yugoslavia	443	443,000
Total	100,000	$100,000,000

SECOND SCHEDULE —Resolution No. 21

Section 3

Amendment of Articles of Agreement
WHEREAS the Articles of Agreement of the Corporation do not permit the Corporation to make investments of its funds in capital stock;
WHEREAS the Corporation would more effectively fulfil the purposes for which it has been established if it were empowered to make such investments;
WHEREAS, having regard to its nature and purposes, the Corporation has considered it appropriate to declare its policy that, if given such power, it would refrain from exercising the voting rights of a stockholder unless, in its opinion, it were necessary for it to exercise such rights;
WHEREAS the Board of Directors has made recommendations to the Board of Governors that the Articles of Agreement of the Corporation be amended to empower the Corporation to make investments of its funds in capital stock and to include, for the guidance of the Corporation, a provision regarding the exercise of voting rights;
NOW, THEREFORE, the Board of Governors hereby
RESOLVES:
THAT Section 2 of Article III of the Articles of Agreement of the Corporation is deleted and the following new Section substituted therefor:
"Section 2. Forms of Financing.
The Corporation may make investments of its funds in such form or forms as it may deem appropriate in the circumstances."
THAT sub-section (iv) of Section 3 of Article III of the Articles of Agreement of the Corporation is amended to read as follows:
"(iv) the Corporation shall not assume responsibility for managing any enterprise in which it has invested and shall not exercise voting rights for such purpose or for any other purpose which, in its opinion, properly is within the scope of managerial control;".

THIRD SCHEDULE —Resolution No. 56

Section 3

Borrowing from International Bank for Reconstruction and Development
WHEREAS the Board of Directors has communicated to the Chairman of the Board of Governors a proposal to amend the Articles of Agreement; and
WHEREAS the Chairman has brought the proposal before the Board of Governors:
NOW THEREFORE the Board of Governors resolves that, in accordance with the proposal of the Board of Directors, the Articles of Agreement are hereby amended as follows:
1. By deleting from Article IV, Section 6 the second sentence reading as follows: "The Corporation shall not lend to or borrow from the Bank."
2. By adding to Article III, Section 6 (i) a sentence reading as follows:
"if and so long as the Corporation shall be indebted on loans from or guaranteed by the Bank, the total amount outstanding of borrowings incurred or guarantees given by the Corporation shall not be increased if, at the time or as a result thereof, the aggregate amount of debt (including the guarantee of any debt) incurred by the Corporation from any source and then outstanding shall exceed an amount equal to four times its unimpaired subscribed capital and surplus;"

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