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Law of International organization
WHO,IMF
World Health Organization (WHO),
• World Health Organization (WHO), is a
specialized agency within article 57 of the United
Nations established in 1948 to further international
cooperation for improved public health condition.
• The organization started it work on 7th April on
1948 .For that reason 7th April is celebrated
worldwide as the world health day.
• At present WHO has 194 member state . The 193
members belongs to UN and another one is the
Cook island .
Principles of World Health Organization
• The constitution of Who are based on this basic
principles…..
• Health is a state of complete physical, mental and social
well-being and not merely the absence of disease or
infirmity.
• The enjoyment of the highest attainable standard of
health is one of the fundamental rights of every human
being without distinction of race, religion, political
belief, economic or social condition.
• Any member state shall achieve promotion and
protection of health for their every citizen
• Equal development in different countries in the
promotion of health and control of disease.
Continue……
• Development of child health is of basic importance.
• The benefits of medical, psychological land related
knowledge is essential to the fullest attainment of health
will be extended to every people.
• Dissemination of knowledge and Information and active
co-operation on the part of the public are of the utmost
importance in the improvement of the health of the
people.
• Responsibility of the Government for the health of their
peoples which can be fulfilled only by the provision of
adequate health and social measures.
Objects of WHO
• Article 1 of the constitution of WHO
• “The objective of the World Health Organization
hereinafter called the Organization shall be the
attainment by all peoples of the highest possible
level of health.”
Functions of WHO
• According to Article 2 of Constitution of WHO ,In
order to achieve its objective, the Organization
shall……
• Work as a director and coordinator of the of the
international health work.
• Establish and maintain effective collaboration with
the United Nations, specialized agencies,
governmental health administrations, professional
groups and such other organizations .
• Assist Governments in strengthening health services
at national level also.
Continue…..
• Furnish appropriate technical assistance when necessary
to Governments of any member state .
• Provide health services and facilities to special groups,
such as the peoples of trust territories.
• Establish and maintain such administrative and
technical services including epidemiological and
statistical services.
• Stimulate and advance work to eradicate epidemic,
endemic and other diseases;
• Promote, in co-operation with other specialized
agencies where necessary, the prevention of accidental
injuries.
Continue……
• Promote the improvement of nutrition, housing,
sanitation, recreation, economic or working conditions
and other aspects of environmental hygiene.
• Promote co-operation among scientific and professional
groups which contribute to the advancement of health.
• Promote maternal and child health and welfare.
• Foster activities in the field of mental health.
• promote and conduct research in the field of health.
• promote improved standards of teaching and training in
the health, medical and related professions.
Continue…..
• Provide information, counsel and assistance in the field
of health;
• Assist in developing an informed public opinion among
all peoples on matters of health.
• Assist to standardize diagnostic procedures as
necessary;
• Develop, establish and promote international standards
with respect to food, biological, pharmaceutical and
similar products;
• generally to take all necessary action to attain the
objective of the Organization.
Management Structure
• According to Article 9 of the WHO Constitution
“The work of the Organization shall be carried out
by………
• The World Health Assembly (hereinafter called the
Health Assembly)
• The Executive Board (herein after called the Board)
and
• The Secretariat.
Continue…..
The World Health assembly
• Article 10 - The Health Assembly shall be composed of
delegates representing Members state.
• Article 11 – Each state shall represented by maximum
three delegates among whom one will be the chief
delegate .They will be chosen from the person who are
mostly qualified in health field.
• Article 13 -The Health Assembly shall meet in regular
annual session and in such special sessions as may be
necessary. Special sessions shall be convened at the
request of the Board or of a majority of the Member.
Continue…….
The functions of the Health Assembly shall be:
• to determine the policies of the Organization.
• to appoint the Director-General.
• to review and approve reports and activities of the
Board and of the Director-General .
• To establish committee to conduct the work of the
organization.
• To supervise the financial matters of the
organization.
Continue……
• Article 19- It shall adopt any convention or
agreement related to any matter within the
competence of the organization. Two thirds of the
member will be necessary for the adoption of such
convention or agreements.
• Article 23 - The Health Assembly shall have
authority to make recommendations to Members
with respect to any matter within the competence of
the Organization.
Continue…..
The Executive Board…..
• Article 24 -The Board shall consist of thirty-four
persons designated by as many Members. The
Health Assembly, taking into account an equitable
geo-graphical distribution, shall elect the Members
entitled to designate a person to serve on the Board.
• Article 25 – These Members shall be elected for
three years and may be re-elected.
• Article 26 – The Board shall meet at least twice a
year and shall determine the place of each meeting.
Continue…..
• According to Article 28 ,the functions of the Board shall
be…….
• to give effect to the decisions and policies of the Health
Assembly.
• to act as the executive organ of the Health Assembly.
• to advise the Health Assembly on matters assigned to the
Organization by conventions, agreements and regulations.
• to submit advice or proposals to the Health Assembly on its
own initiative.
• to prepare the agenda of meetings of the Health Assembly.
• to study all questions within its competence.
Continue…….
• The Secretariat
• Article 30- The Secretariat shall comprise the
Director-General and such technical and
administrative staff as the Organization may require.
• Article 31-The Director-General shall be appointed
by the Health Assembly on the nomination of the
Board on such terms as the Health Assembly may
deter-mine. The Director-General, subject to the
authority of the Board, shall be the chief technical
and administrative officer of the Organization.
Continue…….
• Article 32 -The Director-General shall be ex-officio
Secretary of the Health Assembly, of the Board, of
all commissions and committees of the Organization
and of conferences convened by it.
• Article 34 – The Director-General shall prepare and
submit to the Board the financial statements and
budget estimates of the Organization.
• Article 35 – The Director-General shall appoint the
staff of the Secretariat in accordance with staff
regulations established by the Health Assembly.
International Monetary Fund
• The International Monetary Fund (IMF) was created,
with the International Bank for Reconstruction and
Development (IBRD), at the United Nations Monetary
and Financial Conference (known as Bretton Woods
Conference) held in July 1944 at Bretton Woods, New
Hampshire, United States of America (USA).It came
into being in 1945.
• The IMF was created primarily to ensure the stability of
international monetary and financial system, and
thereby to promote healthy world economy.
• Now , IT has 189 member state.
History of IMF
• The establishment of International Monetary Fund is a
great landmark in the history of international monetary
cooperation.
• After First World War, commercial rivalry rose among
the major countries of the world. The breakdown of
gold standard caused a great panic and confusion.UK,
USA and France tried to settle their exchange stability
rate by tripartite agreement but failed to do that during
second world war.
• During that time there was almost destruction and
devastation in most of the countries. Exchange rates
started fluctuating which adversely affected the
economy.
Continue……..
• At that time, dire need was felt for the establishment of a
monetary institution. The British put forward a plan called
‘Keynes Plan’ while USA forwarded another plan named
‘White Plan’. An international conference was he
• 730 delegates from the 44 allied nations participated at
Bretton-wood in July 1944 . The meeting lasted for 22 days
(from July 1 to 22, 1944), and the main issue was regulation
of the post-war international monetary and financial order.
• During the Bretton Woods Conference, agreements were
signed to establish the International Monetary Fund (IMF),
International Bank for Reconstruction and Development
(IBRD or World Bank), and the General Agreement on
Tariffs and Trade (GATT).
Continue……
• The International Monetary Fund came into
existence on December 27, 1945, when 29
countries signed the treaty called Articles of
Agreement.
Purposes of IMF
• According to article 1 of the articles of agreements, the
purposes of IMF are …..
• To promote international monetary cooperation through
a permanent institution which provides the machinery
for consultation and collaboration on international
monetary problems.
• To facilitate the expansion and balanced growth of
international trade, and to contribute thereby to the
promotion and maintenance of high levels of
employment and real income and to the development of
the productive Resources of all members as primary
objectives of economic policy.
Continue……
• To promote exchange stability, to maintain orderly
exchange arrangements among members, and to avoid
competitive exchange depreciation.
• To assist in the establishment of a multilateral sys-tem
of payments in respect of current transactions between
members and in the elimination of foreign exchange
restrictions which hamper the growth of world trade.
• To give confidence to members by making the Fund's
resources available to them under adequate safeguards,
thus providing them with opportunity to correct
maladjustments in their balance of payments without
resorting to measures destructive of national or
international prosperity.
Continue…….
• International Monetary Co-operation:
• The foremost objective of the Fund was to establish
monetary co-operation amongst the various member
countries. IMF provides the machinery for consultation and
collaboration on international monetary problems. During
the Second World War, IMF had played a vital role to
promote monetary co-operation amongst the different
countries of the World.
• To Promote Exchange Stability:
• Before the Second World War, great instability was
prevailing in the foreign exchange rates of different countries
which had adversely affected the international trade. Thus,
IMF has the objective to promote exchange stability and to
avoid the bad effects of depreciation on exchange rates.
Continue…….
• To Eliminate Exchange Control
Another significant objective of IMF is to eliminate the
control over foreign exchange. During war period, almost
every country has fixed the exchange rate at a particular
level. This has adversely affected the international trade.
Hence, it becomes inevitable to remove the control over
exchange rate by boosting international trade.
• Establishment of Multilateral Trade and Payment:
IMF aimed at establishing and multilateral trade and
payment system in place of old bilateral trade by the
elimination of exchange restrictions which hampers the
growth of smooth trade relations in the world trade.
Continue……
• Growth of International Trade:
IMF is useful to promote international trade by removing all
obstacles and bottlenecks which had created unnecessarily
restrictions. In this way, a significant role has been assigned to
it so as to accelerate the growth of international trade by
maintaining equilibrium in the balance of payment.
• Balanced Economic Growth:
IMF helps the member countries to achieve the balanced
economic growth. It facilitates the expansion of balanced
growth by the promotion and maintenance of high level of
employment as the primary objective of economic policy. For
this purpose, IMF helps to exploit natural resources and to put
into productive channel.
Continue…….
• To remove the Disequilibrium in the Balance of Payment:
IMF helps the member nations to eliminate the disequilibrium
in the balance of payment by selling or lending foreign
currencies to the member countries. With its financial
assistance and guidance, International Monetary Fund helps to
lessen the degree of disequilibrium in the balance of payment
of its member nations.
• Expansion of Capital Investment in Under-develop
Countries:
IMF provides assistance to import capital from the rich
countries to the poor countries so that the poor or
underdeveloped country get a chance to expand their capital
investment on productive activities or social overheads which
in turn helps to raise standard of living and to achieve
prosperity among member countries.
Continue…….
• Generating of Higher Employment and Income:
IMF helps to expand the trade with the significant
measures of multilateral trade and balanced economic
growth. This in turn generate employment and income.
• To Develop Confidence:
Another objective was assigned to the IMF to create
confidence among member countries by coming up to
their rescue at the time of any crisis by providing
temporary monetary help. This will provide them an
opportunity to correct disequilibrium in the balance of
payments.
Continue…….
• Help during Emergency:
The fund will provide short-term monetary help to its
member countries during any type of emergency.
• 12. Shorten the Duration and Lessen the Degree:
In accordance with the above, it shortens the duration
and lessen the degree of disequilibrium in the
international balance of payment of member
countries.
Membership of IMF
• The fund has two types of members as stated
below:
• Original Members
All those countries whose representatives took part in
Bretton Woods Conference and who agreed to be the
member of the Fund prior to 31st December, 1945,
are called the original members of the Fund
• Ordinary Members.
All those who become its member subsequently are
called ordinary members.
Management structure of IMF
• Article XII – Structure of Fund
• section 1 -The Fund shall be constitute with Board of
Governors, Executive Directors, a Managing Director, and a
staff.
• Section 2 – Board of Director
• (a)All powers of the Fund shall be vested in the Board of
Governors, consisting of one governor and one alternate
appointed by each member in such manner as it may
determine. Each governor and each alternate shall serve for
five years, subject to the pleasure of the member appointing
him and may be reappointed. No alternate may vote except
in the absence of his principal. The Board shall, select one of
the governors as chairman.
Continue…….
• (c) The Board of Governors shall hold an annual
meeting and such other meetings as may be
provided for by the Board or called by the
Executive Directors. Meetings of the Board shall be
called by the Directors when-ever requested by five
members or by members having one-quarter of the
total voting power.
• (d)A quorum for any meeting of the Board-of
Governors shall be a majority of the governors
exercising not less than two-thirds of the total
voting power.
Continue…….
• Section 3- Executive Directors.
• (a)The Executive Directors shall be responsible for the
conduct of the general operations of the Fund, and for
this purpose shall exercise all the powers delegated to
them by the Board of Governors.
• (g)The Executive Directors shall function-in continuous
session at the principal office of the Fund and shall meet
as often as the business of the Fund may require.
• (h)A quorum for any meeting of the Executive Directors
shall be a majority of the directors representing not less
than one-half of the voting power.
• At present ,there are twenty four executive .directors
Continue……..
• Section 4-Managing Director and staff.
• (a) The Executive Directors shall select a Managing
Director who shall not be a governor or an
executive director. The Managing Director shall be
chairman of the Executive Directors, but shall have
no vote except a deciding vote in case of an equal
division, He may participate in meetings of the
Board of Governors, but shall not vote at such
meetings. The Managing Director shall cease to
hold office when the Executive Directors so decide.
Continue……
• (b) The Managing Director shall be chief of the
operating staff of the Fund and shall conduct,
under the direction of the Executive Directors,
the ordinary business of the Fund. Subject to the
general control of the Executive Directors, he
shall be responsible for the organization,
appointment' and dismissal of the staff of the
Fund.
• (c) The Managing Director and the staff of the
Fund, in the discharge of their functions, shall
owe their duty entirely to the Fund and to no
other authority.

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Who and imf

  • 1. Law of International organization WHO,IMF
  • 2. World Health Organization (WHO), • World Health Organization (WHO), is a specialized agency within article 57 of the United Nations established in 1948 to further international cooperation for improved public health condition. • The organization started it work on 7th April on 1948 .For that reason 7th April is celebrated worldwide as the world health day. • At present WHO has 194 member state . The 193 members belongs to UN and another one is the Cook island .
  • 3. Principles of World Health Organization • The constitution of Who are based on this basic principles….. • Health is a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity. • The enjoyment of the highest attainable standard of health is one of the fundamental rights of every human being without distinction of race, religion, political belief, economic or social condition. • Any member state shall achieve promotion and protection of health for their every citizen • Equal development in different countries in the promotion of health and control of disease.
  • 4. Continue…… • Development of child health is of basic importance. • The benefits of medical, psychological land related knowledge is essential to the fullest attainment of health will be extended to every people. • Dissemination of knowledge and Information and active co-operation on the part of the public are of the utmost importance in the improvement of the health of the people. • Responsibility of the Government for the health of their peoples which can be fulfilled only by the provision of adequate health and social measures.
  • 5. Objects of WHO • Article 1 of the constitution of WHO • “The objective of the World Health Organization hereinafter called the Organization shall be the attainment by all peoples of the highest possible level of health.”
  • 6. Functions of WHO • According to Article 2 of Constitution of WHO ,In order to achieve its objective, the Organization shall…… • Work as a director and coordinator of the of the international health work. • Establish and maintain effective collaboration with the United Nations, specialized agencies, governmental health administrations, professional groups and such other organizations . • Assist Governments in strengthening health services at national level also.
  • 7. Continue….. • Furnish appropriate technical assistance when necessary to Governments of any member state . • Provide health services and facilities to special groups, such as the peoples of trust territories. • Establish and maintain such administrative and technical services including epidemiological and statistical services. • Stimulate and advance work to eradicate epidemic, endemic and other diseases; • Promote, in co-operation with other specialized agencies where necessary, the prevention of accidental injuries.
  • 8. Continue…… • Promote the improvement of nutrition, housing, sanitation, recreation, economic or working conditions and other aspects of environmental hygiene. • Promote co-operation among scientific and professional groups which contribute to the advancement of health. • Promote maternal and child health and welfare. • Foster activities in the field of mental health. • promote and conduct research in the field of health. • promote improved standards of teaching and training in the health, medical and related professions.
  • 9. Continue….. • Provide information, counsel and assistance in the field of health; • Assist in developing an informed public opinion among all peoples on matters of health. • Assist to standardize diagnostic procedures as necessary; • Develop, establish and promote international standards with respect to food, biological, pharmaceutical and similar products; • generally to take all necessary action to attain the objective of the Organization.
  • 10. Management Structure • According to Article 9 of the WHO Constitution “The work of the Organization shall be carried out by……… • The World Health Assembly (hereinafter called the Health Assembly) • The Executive Board (herein after called the Board) and • The Secretariat.
  • 11. Continue….. The World Health assembly • Article 10 - The Health Assembly shall be composed of delegates representing Members state. • Article 11 – Each state shall represented by maximum three delegates among whom one will be the chief delegate .They will be chosen from the person who are mostly qualified in health field. • Article 13 -The Health Assembly shall meet in regular annual session and in such special sessions as may be necessary. Special sessions shall be convened at the request of the Board or of a majority of the Member.
  • 12. Continue……. The functions of the Health Assembly shall be: • to determine the policies of the Organization. • to appoint the Director-General. • to review and approve reports and activities of the Board and of the Director-General . • To establish committee to conduct the work of the organization. • To supervise the financial matters of the organization.
  • 13. Continue…… • Article 19- It shall adopt any convention or agreement related to any matter within the competence of the organization. Two thirds of the member will be necessary for the adoption of such convention or agreements. • Article 23 - The Health Assembly shall have authority to make recommendations to Members with respect to any matter within the competence of the Organization.
  • 14. Continue….. The Executive Board….. • Article 24 -The Board shall consist of thirty-four persons designated by as many Members. The Health Assembly, taking into account an equitable geo-graphical distribution, shall elect the Members entitled to designate a person to serve on the Board. • Article 25 – These Members shall be elected for three years and may be re-elected. • Article 26 – The Board shall meet at least twice a year and shall determine the place of each meeting.
  • 15. Continue….. • According to Article 28 ,the functions of the Board shall be……. • to give effect to the decisions and policies of the Health Assembly. • to act as the executive organ of the Health Assembly. • to advise the Health Assembly on matters assigned to the Organization by conventions, agreements and regulations. • to submit advice or proposals to the Health Assembly on its own initiative. • to prepare the agenda of meetings of the Health Assembly. • to study all questions within its competence.
  • 16. Continue……. • The Secretariat • Article 30- The Secretariat shall comprise the Director-General and such technical and administrative staff as the Organization may require. • Article 31-The Director-General shall be appointed by the Health Assembly on the nomination of the Board on such terms as the Health Assembly may deter-mine. The Director-General, subject to the authority of the Board, shall be the chief technical and administrative officer of the Organization.
  • 17. Continue……. • Article 32 -The Director-General shall be ex-officio Secretary of the Health Assembly, of the Board, of all commissions and committees of the Organization and of conferences convened by it. • Article 34 – The Director-General shall prepare and submit to the Board the financial statements and budget estimates of the Organization. • Article 35 – The Director-General shall appoint the staff of the Secretariat in accordance with staff regulations established by the Health Assembly.
  • 18. International Monetary Fund • The International Monetary Fund (IMF) was created, with the International Bank for Reconstruction and Development (IBRD), at the United Nations Monetary and Financial Conference (known as Bretton Woods Conference) held in July 1944 at Bretton Woods, New Hampshire, United States of America (USA).It came into being in 1945. • The IMF was created primarily to ensure the stability of international monetary and financial system, and thereby to promote healthy world economy. • Now , IT has 189 member state.
  • 19. History of IMF • The establishment of International Monetary Fund is a great landmark in the history of international monetary cooperation. • After First World War, commercial rivalry rose among the major countries of the world. The breakdown of gold standard caused a great panic and confusion.UK, USA and France tried to settle their exchange stability rate by tripartite agreement but failed to do that during second world war. • During that time there was almost destruction and devastation in most of the countries. Exchange rates started fluctuating which adversely affected the economy.
  • 20. Continue…….. • At that time, dire need was felt for the establishment of a monetary institution. The British put forward a plan called ‘Keynes Plan’ while USA forwarded another plan named ‘White Plan’. An international conference was he • 730 delegates from the 44 allied nations participated at Bretton-wood in July 1944 . The meeting lasted for 22 days (from July 1 to 22, 1944), and the main issue was regulation of the post-war international monetary and financial order. • During the Bretton Woods Conference, agreements were signed to establish the International Monetary Fund (IMF), International Bank for Reconstruction and Development (IBRD or World Bank), and the General Agreement on Tariffs and Trade (GATT).
  • 21. Continue…… • The International Monetary Fund came into existence on December 27, 1945, when 29 countries signed the treaty called Articles of Agreement.
  • 22. Purposes of IMF • According to article 1 of the articles of agreements, the purposes of IMF are ….. • To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems. • To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive Resources of all members as primary objectives of economic policy.
  • 23. Continue…… • To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation. • To assist in the establishment of a multilateral sys-tem of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade. • To give confidence to members by making the Fund's resources available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity.
  • 24. Continue……. • International Monetary Co-operation: • The foremost objective of the Fund was to establish monetary co-operation amongst the various member countries. IMF provides the machinery for consultation and collaboration on international monetary problems. During the Second World War, IMF had played a vital role to promote monetary co-operation amongst the different countries of the World. • To Promote Exchange Stability: • Before the Second World War, great instability was prevailing in the foreign exchange rates of different countries which had adversely affected the international trade. Thus, IMF has the objective to promote exchange stability and to avoid the bad effects of depreciation on exchange rates.
  • 25. Continue……. • To Eliminate Exchange Control Another significant objective of IMF is to eliminate the control over foreign exchange. During war period, almost every country has fixed the exchange rate at a particular level. This has adversely affected the international trade. Hence, it becomes inevitable to remove the control over exchange rate by boosting international trade. • Establishment of Multilateral Trade and Payment: IMF aimed at establishing and multilateral trade and payment system in place of old bilateral trade by the elimination of exchange restrictions which hampers the growth of smooth trade relations in the world trade.
  • 26. Continue…… • Growth of International Trade: IMF is useful to promote international trade by removing all obstacles and bottlenecks which had created unnecessarily restrictions. In this way, a significant role has been assigned to it so as to accelerate the growth of international trade by maintaining equilibrium in the balance of payment. • Balanced Economic Growth: IMF helps the member countries to achieve the balanced economic growth. It facilitates the expansion of balanced growth by the promotion and maintenance of high level of employment as the primary objective of economic policy. For this purpose, IMF helps to exploit natural resources and to put into productive channel.
  • 27. Continue……. • To remove the Disequilibrium in the Balance of Payment: IMF helps the member nations to eliminate the disequilibrium in the balance of payment by selling or lending foreign currencies to the member countries. With its financial assistance and guidance, International Monetary Fund helps to lessen the degree of disequilibrium in the balance of payment of its member nations. • Expansion of Capital Investment in Under-develop Countries: IMF provides assistance to import capital from the rich countries to the poor countries so that the poor or underdeveloped country get a chance to expand their capital investment on productive activities or social overheads which in turn helps to raise standard of living and to achieve prosperity among member countries.
  • 28. Continue……. • Generating of Higher Employment and Income: IMF helps to expand the trade with the significant measures of multilateral trade and balanced economic growth. This in turn generate employment and income. • To Develop Confidence: Another objective was assigned to the IMF to create confidence among member countries by coming up to their rescue at the time of any crisis by providing temporary monetary help. This will provide them an opportunity to correct disequilibrium in the balance of payments.
  • 29. Continue……. • Help during Emergency: The fund will provide short-term monetary help to its member countries during any type of emergency. • 12. Shorten the Duration and Lessen the Degree: In accordance with the above, it shortens the duration and lessen the degree of disequilibrium in the international balance of payment of member countries.
  • 30. Membership of IMF • The fund has two types of members as stated below: • Original Members All those countries whose representatives took part in Bretton Woods Conference and who agreed to be the member of the Fund prior to 31st December, 1945, are called the original members of the Fund • Ordinary Members. All those who become its member subsequently are called ordinary members.
  • 31. Management structure of IMF • Article XII – Structure of Fund • section 1 -The Fund shall be constitute with Board of Governors, Executive Directors, a Managing Director, and a staff. • Section 2 – Board of Director • (a)All powers of the Fund shall be vested in the Board of Governors, consisting of one governor and one alternate appointed by each member in such manner as it may determine. Each governor and each alternate shall serve for five years, subject to the pleasure of the member appointing him and may be reappointed. No alternate may vote except in the absence of his principal. The Board shall, select one of the governors as chairman.
  • 32. Continue……. • (c) The Board of Governors shall hold an annual meeting and such other meetings as may be provided for by the Board or called by the Executive Directors. Meetings of the Board shall be called by the Directors when-ever requested by five members or by members having one-quarter of the total voting power. • (d)A quorum for any meeting of the Board-of Governors shall be a majority of the governors exercising not less than two-thirds of the total voting power.
  • 33. Continue……. • Section 3- Executive Directors. • (a)The Executive Directors shall be responsible for the conduct of the general operations of the Fund, and for this purpose shall exercise all the powers delegated to them by the Board of Governors. • (g)The Executive Directors shall function-in continuous session at the principal office of the Fund and shall meet as often as the business of the Fund may require. • (h)A quorum for any meeting of the Executive Directors shall be a majority of the directors representing not less than one-half of the voting power. • At present ,there are twenty four executive .directors
  • 34. Continue…….. • Section 4-Managing Director and staff. • (a) The Executive Directors shall select a Managing Director who shall not be a governor or an executive director. The Managing Director shall be chairman of the Executive Directors, but shall have no vote except a deciding vote in case of an equal division, He may participate in meetings of the Board of Governors, but shall not vote at such meetings. The Managing Director shall cease to hold office when the Executive Directors so decide.
  • 35. Continue…… • (b) The Managing Director shall be chief of the operating staff of the Fund and shall conduct, under the direction of the Executive Directors, the ordinary business of the Fund. Subject to the general control of the Executive Directors, he shall be responsible for the organization, appointment' and dismissal of the staff of the Fund. • (c) The Managing Director and the staff of the Fund, in the discharge of their functions, shall owe their duty entirely to the Fund and to no other authority.