(e) No distribution shall be made to members on account of their subscriptions to the capital stock of the Bank until
- (I) all liabilities to creditors have been discharged or provided for, and
- (II) a majority of the Governors, exercising a majority of the total voting power, have decided to make a distribution.
(f) After a decision to make a distribution has been taken under (e) above, the Executive Directors may by a two-thirds majority vote make successive distributions of the assets of the Bank to members until all of the assets have been distributed. This distribution shall be subject to the prior settlement of all outstanding claims of the Bank against each member.
(g) Before any distribution of assets is made, the Executive Directors shall fix the proportionate share of each member according to the ratio of its shareholding to the total outstanding shares of the Bank.
(h) The Executive Directors shall value the assets to be distributed as at the date of distribution and then proceed to distribute in the following manner:
- (I) There shall be paid to each member in its own obligations or those of its official agencies or legal entities within its territories, in so far as they are available for distribution, an amount equivalent in value to its proportionate share of the total amount to be distributed.
- (II) Any balance due to a member after payment has been made under (I) above shall be paid, in its own currency, in so far as it is held by the Bank, up to an amount equivalent in value to such balance.
- (III) Any balance due to a member after payment has been made under (I) and (II) above shall be paid, in gold or currency acceptable to the member, in so far as they are held by the Bank, up to an amount equivalent in value to such balance.
- (IV) Any remaining assets held by the Bank after payments have been made to members under (I), (II), and (III) above shall be distributed pro rata among the members.
