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Agreement Revised

After the date of termination, the Fund shall pay interest on the outstanding special drawing rights that exist according to an outgoing participant and the resigning participant shall pay the fees for all outstanding obligations due to the Fund, at the times and rates set out in Article XX. Payment shall be made in special drawing rights. a participant resilises the right to obtain special drawing rights with a currency freely usable to pay fees or investments in a transaction with a participant designated by the Fund or by the agreement of another holder, or to have special drawing rights perceived as interest on a transaction with a participant designated in accordance with Article XIX; Section 5 or by appointment with another holder. 5. If a Member has reached an agreement with the Fund in accordance with Article 3, the Fund shall use the currencies of other Members allocated to it in accordance with point 2(d) to exchange the currency of that Member, which shall be granted to other Members which have concluded agreements with the Fund in accordance with point 3. Any amount so collected shall be cashed in the currency of the member over whom it has been distributed. 4. If, within the three-month period referred to in point 3, a Member has not reached an agreement with the Fund, the Fund shall use the currencies of other Members allocated to that Member in accordance with point 2(d) to exchange the currency of that Member which is allocated to other Members. Any currency which is granted to a Member which has not reached an agreement shall be used as far as possible to exchange its currency, which shall be granted to Members which have concluded agreements with the Fund in accordance with point 3. 4. Where the holdings of the Fund on the currency of an outgoing Member exceed its due amount and no agreement on the method of settlement is reached within six months of the date of withdrawal, the former Member shall be required to exchange that excess currency in a freely usable currency.

Repayment shall be made at the rates at which the Fund would sell those currencies at the time of payment of the Fund. The outgoing member shall complete the repayment within five years of the date of exit or within a longer period fixed by the Fund, but shall not be required to repay, in the course of half a year, more than one tenth of the excess assets of the Fund in its currency at the time of exit, as well as other acquisitions of the currency during the same period. If the outgoing member does not comply with this obligation, the Fund may liquidate, in an orderly manner, on any market, the amount of the currency that should have been repaid. 2. If the assets of the Fund in the currency of the outgoing member are not sufficient to pay the net amount due from the Fund, the balance shall be paid in a freely usable currency or by other agreed means. If the Fund and the outgoing member do not reach an agreement within six months of the date of withdrawal, the relevant currency of the Fund shall be paid to the outgoing member without delay. The balance due is payable in ten semi-annual instalments over the next five years. Each of these instalments shall be paid, at the choice of the Fund, either in the currency of the outgoing member acquired after withdrawal or in a freely usable currency. The currency that the Fund receives from a resigning participant shall be used by the Fund to reimburse the Special Drawing Rights held by the Participants in proportion to the amount for which the Special Drawing Rights of each Participant exceed its cumulative net allocation at the time of receipt of the currency from the Fund. . .

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