Upon Special Agreement

11. Notwithstanding 6, the Fund may, by a majority of 70% of the total votes, make uniform proportional changes to all nominal values if the special drawing right is the common denominator and the amendments do not affect the value of the special drawing right. However, the face value of a member`s currency is not changed under this provision if, within seven days of the Fund`s activity, the member indicates to the Fund that it does not wish to have the face value of its currency changed by such a measure. In the case of the sale of gold pursuant to this paragraph, an amount of the proceeds in the currencies received at the time of sale is held separately from the Fund`s general resources by 0.888,671 grams of fine gold on the General Resources and other assets of the Fund covered by point b). Assets that are still subject to the obligation to divest the fund after the termination of the agreements referred to in point b) are transferred to the special payment account. Interest at the same rate for all holders is paid by the Fund to each holder on the amount of its holdings in special drawing rights. The Fund pays the amount owed to each holder, whether or not sufficient fees have been received to cover the interest payment. As a result of the distributions covered in point (a) and b) of Calendar K, the Fund allocates its special drawing rights held on the general resource account to all participating members, in proportion to the amounts earned by each participant after the allocation covered at point 2 (b). In order to determine the amount owed to each member for the allocation of the remaining outstanding assets in each currency in accordance with Appendix K 2, point d), the Fund deducts the allocation of the special drawing rights established under this rule.

Secondly, 36 (1) also entrusts the Court of Justice with jurisdiction over cases specific to … existing treaties and conventions.” Many contracts will include a compromise clause providing for dispute resolution by the ICJ. Thus, Article 36, paragraph 2, of the United Nations Convention against the Illicit Trafficking of Narcotics and Psychotropic Substances provides for mediation and other means of dispute resolution, but also states that “such a dispute, which cannot be resolved… Is submitted to the International Court of Justice for decision, at the request of one of the States parties to the dispute. [2] Cases based on compromise clauses have not been as effective as those based on a particular agreement, since a state may have no interest in having the case reviewed by the Court of Justice and may refuse to convict a judgment. Since the 1970s, the application of these copromissory clauses has decreased. Many modern treaties define their own dispute resolution system, which is often based on forms of conciliation. In 1987, at the initiative of Mikhail Gorbachev, all the permanent members of the Security Council began negotiations on extending the mandatory jurisdiction of the ICJ. The content of these negotiations is not yet known and no agreement has been reached. See Richard B.

Images, “Judicial Procedures Relating to the Use of Force,” 28 to Lori Damrosch – David Scheffer, Law and Force in the New International Order (1991). 7. If, after the payment of the last payments to the participants, any participant who is not late does not have special drawing rights in the same proportion of his cumulative net allocation, the participants who hold a lower share to those who hold a larger share of these sums, in accordance with the rules adopted by the Fund, so that the share of their participation in the special drawing rights remains the same.