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(a) notes and coins in circulation in the territory of the withdrawing Government and any amount owing by the said Government to the Bank; (b) the withdrawing Government’s share in the General Reserve of the Bank in accordance with the imputed equity interest formula contained in paragraph (4) of Annex I to this Agreement; (c) such other considerations as the Council may consider. (1) The Council may by resolution adopted by a two-thirds majority of all of its members terminate the operations of the Bank. After such termination, the Bank shall forthwith cease all activities, except those incident to the orderly realization, conservation and preservation of its assets and settlement of its obligations. (2) No distribution of the assets of the Bank shall be made to Participating Governments until all liabilities to creditors, including currency in circulation net of Government debt, have been discharged or provided for and until the Council by resolution adopted by a two-thirds majority of its members, shall have decided to make such a distribution. (3) The net assets of the Bank remaining, after the settlement under paragraph (2) above, shall be distributed to Participating Governments in accordance with the imputed equity interest formula contained in paragraph (4) of Annex I to this Agreement.

53.

PART XIV - FINAL PROVISIONS

54.

(1)

This Agreement shall enter into effect: (a)

when it has been signed on behalf of all the Participating Governments; and when each Participating Government deposits with the Authority an instrument of acceptance stating - (i) that it has accepted this Agreement in accordance with its laws and has taken all steps necessary to enable the Bank to operate, in accordance with this Agreement, within its territory including the enactment of such laws as may be necessary to satisfy the provisions of this Agreement;

(b)

(ii)

that the Participating Government agrees that, in respect of its territory, the Bank shall exercise exclusive powers in respect of those matters enumerated in Articles 18 paragraph (1), 19 paragraph (1), 20, 21, 33, and 34 of this Agreement. (2) The Bank shall be deemed to have been established immediately upon the performance of the provisions of paragraph (1) hereof by all the Participating Governments.

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