(e) The Board of Governors may by regulation establish a procedure whereby the Executive Directors, when they deem such action to be in the best interests of the Bank, may obtain a vote of the Governors on a specific question without calling a meeting of the Board.
(f) The Board of Governors, and the Executive Directors to the extent authorized, may adopt such rules and regulations as may be necessary or appropriate to conduct the business of the Bank.
(g) Governors and alternates shall serve as such without compensation from the Bank, but the Bank shall pay them reasonable expenses incurred in attending meetings.
(h) The Board of Governors shall determine the remuneration to be paid to the Executive Directors and the salary and terms of the contract of service of the President.
Section 3. Voting
(a) Each member shall have two hundred and fifty votes plus one additional vote for each share of stock held.
(b) Except as otherwise specifically provided, all matters before the Bank dhall be decided by a majority of the votes cast.
Section 4. Executive Directors
(a) The Executive Directors shall be responsible for the conduct of the general operations of the Bank, and for this purpose, shall exercise all the powers delegated to them by the Board of Governors.
(b) There shall be twelve Executive Directors, who need not be governors, and of whom:
- (I) five shall be appointed, one by each of the five members having the largest number of shares;
- (II) seven shall be elected according to Schedule B by all the Governors other than those appointed by the five members referred to in (I) above.
For the purpose of this paragraph, "members" means governments of countries whose names are set forth in Schedule A, whether they are original members or become members in accordance with Article II, Section 1 (b). When governments of other countries become members, the Board of Governors may, by a four-fifths majority of the total voting power, increase the total number of Directors by increasing the number of Directors to be elected.
