Islamic Development Bank Act 1975 · s 4

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s 4Power to subscribe to shares of the capital stock of the Bank

The Minister is hereby authorized to subscribe on behalf of the

Government—

(a)

to shares of the authorized capital stock of the Bank in accordance with paragraph 1 of Article 5 in such amount as will not exceed the equivalent of twenty million United

States dollars;

(b)

where the authorized capital stock of the Bank is increased at the request of the Board of Governors of the Bank in accordance with paragraph 4 of Article 5, to a proportion of the increase of stock as provided in that paragraph; and

(c)

where the shares of the Government have been increased at the request of the Government under paragraph 5 of

Article 5, to the amount of such increase.