# Decision No 1219/2011/EU of the European Parliament and of the Council of 16 November 2011 concerning the subscription by the European Union to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD) as a result of the decision to increase this capital, Division (d)

Extent: E+W+S+N.I.

If documents satisfactory to the Bank providing for subscriptions in the aggregate amount of shares specified in paragraph 4(a) of this Resolution shall not have been deposited by the Effective Date, then the Board of Directors may, at its option, declare that the instruments of subscription already deposited by members and the subscriptions thereunder shall become effective immediately notwithstanding any other provision in this Resolution, provided that such action is considered by the Board of Directors to be in the best operational interests of the Bank, and provided further that the aggregate of instruments of subscription already deposited and expected to be deposited in the foreseeable future is, in the judgement of the Board of Directors, sufficiently close to the aggregate amount of shares specified in the said paragraph 4(a).

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Source: https://www.legislation.gov.uk/eudn/2011/1219/annex/division/1/division/2/division/d (the official version)
Page: https://openlegislation.uk/eu-decision-2011-1219/annex/division-1/division-2/division-d
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.