MIGA Convention
Convention Establishing the Multilateral Investment Guarantee Agency
(Submitted to Governments by the Board of Governors of the International Bank for Reconstruction and Development)
Washington, D.C.
October 11, 1985
Contents
PREAMBLE
I. Establishment, Status, Purposes and Definitions
Article 1. Establishment and Status of the Agency
Article 2. Objective and Purposes
Article 3. Definitions
II. Membership and Capital
Article 4. Membership
Article 5. Capital
Article 6. Subscription of Shares
Article 7. Division and Calls of Subscribed Capital
Article 8. Payment of Subscription of Shares
Article 9. Valuation of Currencies
Article 10. Refunds
III. Operations
Article 11. Covered Risks
Article 12. Eligible Investments
Article 13. Eligible Investors
Article 14. Eligible Host Countries
Article 15. Host Country Approval
Article 16. Terms and Conditions
Article 17. Payment of Claims
Article 18. Subrogation
Article 19. Relationship to National and Regional Entities
Article 20. Reinsurance of National and Regional Entities
Article 21. Cooperation with Private Insurers and with Reinsurers
Article 22. Limits of Guarantee
Article 23. Investment Promotion
Article 24. Guarantees of Sponsored Investments
IV. Financial Provisions
Article 25. Financial Management
Article 26. Premiums and Fees
Article 27. Allocation of Net Income
Article 28. Budget
Article 29. Accounts
V. Organization and Management
Article 30. Structure of the Agency
Article 31. The Council
Article 32. The Board
Article 33. President and Staff
Article 34. Political Activity Prohibited
Article 35. Relations with International Organizations
Article 36. Location of Principal Office
Article 37. Depositories for Assets
Article 38. Channel of Communication
VI. Voting, Adjustments of Subscriptions and Representation
Article 39. Voting and Adjustments of Subscriptions
Article 40. Voting in the Council
Article 41. Election of Directors
Article 42. Voting in the Board
VII. Privileges and Immunities
Article 43. Purposes of Chapter
Article 44. Legal Process
Article 45. Assets
Article 46. Archives and Communications
Article 47. Taxes
Article 48. Officials of the Agency
Article 49. Application of the Chapter
Article 50. Waiver
VIII. Withdrawal, Suspension of Membership and Cessation of Operations
Article 51. Withdrawal
Article 52. Suspension of Membership
Article 53. Rights and Duties of States Ceasing to be Members
Article 54. Suspension of Operations
Article 55. Liquidation
IX. Settlement of Disputes
Article 56. Interpretation and Application of the Convention
Article 57. Disputes between the Agency and Members
Article 58. Disputes Involving Holders of a Guarantee or Reinsurance
X. Amendments
Article 59. Amendment by Council
Article 60. Procedure
XI. Final Provisions
Article 61. Entry into Force
Article 62. Inaugural Meeting
Article 63. Depository
Article 64. Registration
Article 65. Notification
Article 66. Territorial Application
Article 67. Periodic Reviews
ANNEX I. Guarantees of Sponsored Investments Under Article 24
Article 1. Sponsorship
Article 2. Sponsorship Trust Fund
Article 3. Calls on Sponsoring Members
Article 4. Valuation of Currencies and Refunds
Article 5. Reinsurance
Article 6. Operational Principles
Article 7. Voting
ANNEX II. Settlement of Disputes Between A Member and the Agency Under Article 57
Article 1. Application of the Annex
Article 2. Negotiation
Article 3. Conciliation
Article 4. Arbitration
Article 5. Service of Process
SCHEDULE A. Membership and Subscriptions
SCHEDULE B. Election of Directors
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