(c) Regulations shall be adopted to ensure that before action is taken against any member under (a) or (b) above, the member shall be informed in reasonable time of the complaint against it and given an adequate opportunity for stating its case, both orally and in writing.
Section 3. Settlement of accounts with members withdrawing
When a member withdraws from the Fund, normal transactions of the Fund in its currency shall cease and settlement of all accounts between it and the Fund shall be made with reasonable despatch by agreement between it and the Fund. If agreement is not reached promptly, the provisions of Schedule D shall apply to the settlement of accounts.
Article XVI
Eemergency Provisions
Section 1. Temporary Suspension
(a) In the event of an emergency or the development of unforeseen circumstances threatening the operations of the Fund, the Executive Directors by unanimous vote may suspend for a period of not more than one hundred and twenty days the operation of any of the following provisions:
- (I) Article IV, Sections 3 and 4(b).
- (II) Article V, Sections 2, 3, 7, 8(a) and (e).
- (III) Article VI, Section 2.
- (IV) Article XI, Section 1.
(b) Simultaneously with any decision to suspend the operation of any of the foregoing provisions, the Executive Directors shall call a meeting of the Board of Governors for the earliest practicable date.
(c) The Executive Directors may not extend any suspension beyond one hundred and twenty days. Such suspension may be extended, however, for an additional period of not more than two hundred and forty days, if the Board of Governors by a four-fifths majority of the total voting power so decides, but it may not be further extended except by amendment to this Agreement pursuant to Article XVII.
(d) The Executive Directors may, by a majority of the total voting power, terminate such suspension at any time.
