(c) The Fund shall levy charges uniform for all members which shall be payable by any member on the average daily balances of its currency held by the Fund in excess of its quota. These charges shall be at the following rates:
- (I) On amounts not more than twenty-five per cent. in excess of the quota: no charge for the first three months; one-half per cent. per annum for the next nine months; and thereafter an increase in the charge of one-half per cent. for each subsequent year;
- (II) On amounts more than twenty-five per cent. and not more than fifty per cent. in excess of the quota: an additional one-half per cent. for the first year; and an additional one-half per cent. for each subsequent year;
- (III) On each additional bracket of twenty-five per cent. in excess of the quota: an additional one-half per cent. for the first year; and an additional one-half per cent. for each subsequent year.
(d) Whenever the Fund's holdings of a member's currency are such that the charge applicable to any bracket for any period has reached the rate of four per cent. per annum, the Fund and the member shall consider means by which the Fund's holdings of the currency can be reduced. Thereafter, the charges shall rise in accordance with the provisions of (c) above until they reach five per cent. and failing agreement, the Fund may then impose such charges as its deems appropriate.
(e) The rates referred to in (c) and (d) above may be changed by a three-fourths majority of the total voting power.
(f) All charges shall be paid in gold. If, however, the member's monetary reserves are less than one-half of its quota, it shall pay in gold only that proportion of the charges due which such reserves bear to one-half of its quota, and shall pay the balance in its own currency.
Article VI
Capital Transfers
Section 1. Use of the Fund's resources for capital transfers
(a) A member may not make net use of the Fund's resources to meet a large or sustained outflow of capital, and the Fund may request a member to
