ARTICLE VII - Amendments

(as amended through April 16, 2020)

1. This Agreement may be amended by vote of three-fifths of the Governors exercising eighty-five percent of the total voting power. [8]
   
   
2. Notwithstanding paragraph (a) above, the affirmative vote of all Governors is required in the case of any amendment modifying:
   
   
   1. the right to withdraw from the Corporation provided in Article V, Section 1;
      
      
   2. the pre-emptive right secured by Article II, Section 2 (d);
      
      
   3. the limitation on liability provided in Article II, Section 4.
      
      
3. Any proposal to amend this Agreement, whether emanating from a member, a Governor or the Board of Directors, shall be communicated to the Chairman of the Board of Governors who shall bring the proposal before the Board of Governors. When an amendment has been duly adopted, the Corporation shall so certify by formal communication addressed to all members. Amendments shall enter into force for all members three months after the date of the formal communication unless the Board of Governors shall specify a shorter period.

[8] Amended April 28, 1993. Original Text:
(a) This Agreement may be amended by vote of three-fifths of the Governors exercising four-fifths of the total voting power.