By-Laws of the International Monetary Fund

Section 17.  Vacant Directorships

Whenever a new Executive Director must be elected because of a vacancy requiring an election, the Managing Director shall notify the members who elected the former Executive Director of the existence of the vacancy. He may convene a meeting of the Governors of these members exclusively for the purpose of electing a new Executive Director; or he may request nominations, and conduct ballots, by rapid means of communication. Successive ballots shall be cast until one candidate has a majority; and after each ballot, the candidate with the smallest number of votes shall be dropped from the next ballot.

If a member's voting rights have been suspended, that member shall not participate in the election of the new Executive Director.

When a new elective Executive Director is named, the office of Alternate shall be deemed to be vacant and an Alternate shall be named by the newly elected Executive Director.

Adopted March 16, 1946, amended June 13, 1978, and April 12, 1993

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