03/01/90
12:18
ODA UNITED NATIONS/COMMONWEALTH.
NO. 789
P002
RESOLUTION NO. 23
ADMISSION OF HONG KONG TO MEMBERSHIP IN
THE ASIAN DEVELOPMENT BANK
WHEREAS, the United Kingdom has by an application dated 5th March 1969 applied on behalf of Hong Kong, for whose International relations the United Kingdom is responsible, for Hong Kong's admission to membership in the Asian Development Bank in accordance with Article 3 paragraph 3 of the Articles; and
WHEREAS, the United Kingdom, in a letter to the Bank dated 5th March 1969 and in accordance with the sald Article 3 paragraph 3, has undertaken responsibility for the obligations which may be incurred by Hong Kong by reason of Hong Kong's membership in the Bank and enjoyment of the benefits of such membership; and
WHEREAS, Hong Kong is an Associate Member of the United Nations Economic Commission for Asia and the Far East eligible for membership in the Bank in accordance with the provisions of Article 3 of the Articles;
NOW, THEREFORE, the Board of Governors hereby
RESOLVES:
That Hang Kong be admitted to membership in the Bank under the following terms and conditions:
1. DEFINITIONS
7.
As used in this Resolution:
(a) United Kingdom" means the Government of the United Kingdom.
(b) "Hong Kong" means the Government of Hong Kong.
(c) "Articles" means the Articles of Agreement of the Asian Develop-
ment Bank.
(d)
"Bank" means the Asian Development Bank.
(e)
"Dollars" or "$" means United States dollars of the weight and fineness in effect on 31 January 1966.
(f) "Subscription" means the capital stock of the Bank subscribed by
A member.
(g)
"Member" means member of the Bank.
SUBSCRIPTION
Hong Kong shall subscribe to 800 shares of the capital stock of the Bank at the par value of $10,000 per share, of which 400 shares shall be paid-in shares and 400 shares shall be callable shares,
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