Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Gold and Currency Subscribed to the Fund and Accounting by Members for Transactions with the Fund

Prepared by the Legal Department of the IMF
As updated as of February 29, 2016

< Previous DocumentNext Document >
ARTICLE III
Quotas and Subscriptions

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,

May 20, 1947

< Previous DocumentNext Document >