- (III) when a member makes payments in any currency under (I) and (II) above, such payments shall be made in amounts equal in value to the member's liability under the call. This liability shall be a proportionate part of the subscribed capital stock of the Bank as authorized and defined in Section 2 of this Article.
Section 8. Time of payment of subscriptions
(a) The two per cent. payable on each share in gold or United States dollars under Section 7 (I) of this Article, shall be paid within sixty days of the date on which the Bank begins operations, provided that (I) any original member of the Bank whose metropolitan territory has suffered from enemy occupation or hostilities during the present war shall be granted the right to postpone payment of one-half per cent. until five years after that date; (II) an original member who cannot make such a payment because it has not recovered possession of its gold reserves which are still seized or immobilized as a result of the war may postpone all payment until such date as the Bank may decide.
(b) The remainder of the price of each share payable under Section 7 (I) of this Article shall be paid as and when called by the Bank, provided that
- (I) the Bank shall, within one year of its beginning operations, call not less than eight per cent. of the price of the share in addition to the payment of two per cent. referred to in (a) above;
- (II) not more than five per cent. of the price of the share shall be called in any period of three months.
Section 9. Maintenance of value of certain currency holdings of the Bank
(a) Whenever (I) the par value of a member's currency is reduced, or (II) the foreign exchange value of a member's currency has, in the opinion of the Bank, depreciated to a significant extent within that member's territories, the member shall pay to the Bank within a reasonable time an additional amount of its own currency sufficient to maintain the value, as of the time of initial subscription, of the amount of the currency of such member, which is held by the Bank and derived from currency originally paid in to the Bank by the member under Article II, Section 7 (I), from currency referred to in Article IV, Section 2 (b), or from any additional currency furnished under the provisions of the
