Selected Decisions and Selected Documents of the IMF, Thirty- Third Issue -- Gold and Currency Subscribed to the Fund and Accounting by Members for Transactions with the Fund
Prepared by the Legal Department of the IMFAs updated with decisions adopted during the first quarter of 2009 (posted July 2009)
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| ARTICLE III | ||||
| Quotas and Subscriptions | ||||
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GOLD AND CURRENCY SUBSCRIBED TO THE FUND AND ACCOUNTING BY MEMBERS FOR TRANSACTIONS WITH THE FUND The following principles should be observed by members in reflecting their participation in the Fund in their accounts: 1. Gold and currency subscribed to the Fund are clearly within its unrestricted ownership. They do not belong in any way to the subscriber. 2. Although the accounting practices of a member are primarily its own concern, each member should prepare its accounts in such a way that misconceptions as to the ownership of the gold and currency subscribed to the Fund would be avoided. ... Decision No. 170-3, | ||||
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