Section 18. Additional Directors
(a) At least six weeks before each regular election of Executive Directors, the Managing Director shall notify all members by rapid means of communication of the two members whose currencies held in the General Resources Account have been, on the average over the preceding two years, reduced below their quotas by the largest absolute amounts in terms of the special drawing right. He shall state whether either or both may appoint an Executive Director in accordance with Article XII, Section 3(c).
(b) The Executive Board shall prescribe a period within which a member that may appoint an Executive Director in accordance with Article XII, Section 3(c) shall notify the Managing Director whether it will appoint an Executive Director. The Managing Director shall inform each member that may appoint an Executive Director under Article XII, Section 3(c) of the period and shall inform all members promptly of the receipt of a notification under this (b).
(c) A member that is entitled to appoint an Executive Director in accordance with Article XII, Section 3(b)(i) and a member that may appoint an Executive Director in accordance with Article XII, Section 3(c) and notifies the Managing Director under (b) above that it will appoint an Executive Director shall not participate in the election of an Excutive Director.
Adopted March 16, 1946, amended June 13, 1978