Chapter

1972 Regular Election of Executive Directors

Author(s):
International Monetary Fund. Secretary's Department
Published Date:
October 1972
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Rules for the Conduct of the 1972 Regular Election of Executive Directors of the Fund

  • 1. Definitions: In these Rules, unless the context shall otherwise require :

    • (a) “Articles” means the Articles of Agreement of the Fund.

    • (b) “Board” means the Board of Governors of the Fund.

    • (c) “Chairman” means the Chairman of the Board or a Vice Chairman acting as Chairman.

    • (d) “Governor” includes the Alternate Governor or any temporary Alternate Governor when acting for the Governor.

    • (e) “Secretary” means the Secretary or any acting Secretary of the Fund.

    • (f) “Election” means the 1972 Regular Election of Executive Directors.

  • 2. Date of Election: The election shall be held during the 1972 Annual Meeting at a time to be fixed by the Board.

  • 3. Basic Rules—Schedule C: Subject to the adjustments set forth herein, the provisions of Schedule C of the Articles shall apply to the conduct of the election.

  • 4. Executive Directors to be Elected Under Article XII, Section 3(b)(iii):

    • (a) Twelve Executive Directors shall be elected under Article XII, Section 3(b)(iii).

    • (b) In view of the number of Executive Directors to be elected under Article XII, Section 3 (b) (iii) :

      • (i) 5½ per cent shall be substituted for “nineteen per cent” in paragraphs 2 and 5 of Schedule C.

      • (ii) 13 per cent shall be substituted for “twenty per cent” in paragraphs 3, 4, and 5 of Schedule C.

      • (iii) “Twelve directors” shall be substituted for “five directors” and “twelve persons” shall be substituted for “five persons” in paragraph 2 of Schedule C.

  • 5. Executive Directors to be Elected Under Article XII, Section 3(b)(iv): Three Executive Directors shall be elected under Article XII, Section 3(b) (iv), and

    • (a) The minimum percentage of the eligible votes required for election under this subparagraph shall be 28 per cent.

    • (b) The maximum percentage of eligible votes for any one nominee for the purposes of paragraph 13 below shall be 38 per cent.

  • 6. Nominations:

    • (a) Any person nominated by one or more Governors entitled to vote in the election shall be eligible for election as Executive Director.

    • (b) Each nomination shall be made on a Nomination Form furnished by the Secretary, signed by the Governor or Governors making the nomination, and deposited with the Secretary.

    • (c) A Governor may nominate only one person.

    • (d) Nominations may be made until 12 o’clock noon on the day before the day on which the election is scheduled to be held. The Secretary shall post and distribute a list of the persons nominated.

  • 7. Supervision of the Election: The Chairman shall appoint such tellers and other assistants and take such other action as he deems necessary for the conduct of the election.

  • 8. Ballots: One ballot form shall be furnished, before a ballot is taken, to each Governor entitled to vote. On any particular ballot only ballot forms distributed for that ballot shall be counted.

  • 9. Balloting—Order: The first ballot shall be simultaneous balloting of all the Governors entitled to participate in the election of Executive Directors under Article XII, Section 3(b)(iii), and all of the American Republics entitled to participate in the election of Executive Directors under Article XII, Section 3(b) (iv). The balloting for the Executive Directors elected under Article XII, Section 3(b) (iii), shall then be concluded before any further ballots are taken for the Executive Directors to be elected by the American Republics.

  • 10. Balloting—General: Each ballot shall be taken as follows :

    • (a) There shall be a call of members whose Governors are entitled to vote and each ballot, signed by the Governor, shall be deposited in the ballot box.

    • (b) When a ballot shall have been completed, the Chairman shall cause the ballots to be counted and shall announce the names of the persons elected before the end of the session at which the election is held. If a succeeding ballot is necessary, the Chairman shall announce the names of the nominees to be voted on and the members whose Governors are entitled to vote.

    • (c) If the tellers shall be of the opinion that any particular ballot form is not properly executed, they shall, if possible, afford the Governor concerned an opportunity to correct it before tallying the results; and such ballot form, if so corrected, shall be deemed valid.

  • 11. Balloting and Election of Executive Directors Under Article XII, Section 3(b)(iii):

    • (a) When on any ballot the number of nominees shall not exceed the number of Executive Directors to be elected, each nominee shall be deemed to be elected by the number of votes received by him on such ballot; provided, however, that if on such ballot the votes of any Governor shall be deemed under paragraph 4 of Schedule C to have raised the votes cast for any nominee above 13 per cent of the eligible votes, no nominee shall be deemed to have been elected who shall not have received on such ballot a minimum of 5½ per cent of the eligible votes and a succeeding ballot shall be taken for which any nominee not elected shall be eligible.

    • (b) If, as a result of the first ballot, the number of Executive Directors to be elected in accordance with paragraph 4 above shall not have been elected, a second and, if necessary, further ballots shall be taken. The Governors entitled to vote on such succeeding ballots shall be only (i) those Governors who voted on the preceding ballot for any nominee not elected, and (ii) those Governors whose votes for a nominee elected on the preceding ballot are deemed under paragraph 4 of Schedule C to have raised the votes cast for such nominee above 13 per cent of the eligible votes.

    • (c) The votes of a Governor shall not be deemed under paragraph 4 of Schedule C to have raised the total votes for a nominee above 13 per cent of the eligible votes if without the votes of such Governors such total would be more than 5½ per cent but not more than 13 per cent of the eligible votes.

    • (d) If on any ballot two or more Governors having an equal number of votes shall have voted for the same nominee and the votes of one or more, but not all, of such Governors could be deemed under paragraph 4 of Schedule C to have raised the total votes received by such nominee above 13 per cent of the eligible votes, the Chairman shall determine by lot the Governor or Governors, as the case may be, who shall be entitled to vote on the next ballot.

    • (e) If a Governor shall abstain from voting on any ballot taken under Article XII, Section 3(b) (iii), he shall not be entitled to vote on any subsequent ballot and his votes shall not be counted within the meaning of Article XII, Section 3(i), toward the election of any Executive Director. If at the time of any ballot a member shall not have a duly appointed Governor, such member shall be deemed to have abstained from voting on that ballot.

  • 12. Votes Cast for Nominee Not Elected Under Article XII, Section 3(b)(iii):

    Any member whose Governor has voted on the last ballot for a nominee not elected under Article XII, Section 3(b) (iii), may, before the effective date of the election, designate an Executive Director, who was elected under that provision, and he shall be deemed after the effective date of the election to have received that member’s votes in the election.

  • 13. Election of Executive Directors Under Article XII, Section 3(b)(iv): These Rules supplement paragraph 7 of Schedule C.

    • (a) Each Governor eligible to participate in the election shall cast for one person all the votes to which he is entitled.

    • (b) The three nominees receiving the greatest number of votes shall be elected, provided that no nominee shall be elected who receives less than 28 per cent of the eligible votes. The person elected with the least number of votes cast for the three elected nominees shall be deemed to have been elected by all the votes cast for him, all the votes not cast in the ballot through abstention from voting and all those cast for such other nominee or nominees as were not elected.

    • (c) When on any ballot two or more Executive Directors remain to be elected and there are the same number of nominees, each nominee shall be elected by the number of votes received by him; provided, that if the votes of any Governor shall be deemed to have raised the votes cast for any nominee above 38 per cent of the eligible votes, no nominee shall be elected on that ballot who shall not have received 28 per cent of the eligible votes and a succeeding ballot shall be taken for which any nominee not elected on the preceding ballot shall be eligible.

  • 14. Succeeding Ballots for Election of Executive Directors Under Article XII, Section 3(b)(iv):

    • (a) If, as a result of the first ballot, the number of Executive Directors to be elected in accordance with paragraph 5 above shall not have been elected, a second and, if necessary, further ballots shall be taken. The Governors entitled to vote on such succeeding ballots shall be only (i) those Governors who voted on the preceding ballot for any nominee not elected or who abstained from voting on the preceding ballot and (ii) those Governors whose votes for a nominee elected on the preceding ballot are deemed to have raised the votes cast for such nominee above 38 per cent of the eligible votes. In determining whether the votes cast by a Governor are to be deemed to have raised the total of any nominee above 38 per cent of the eligible votes, the 38 per cent shall be deemed to include, first, the votes of the Governor casting the largest number of votes for such nominee, then the votes of the Governor casting the next largest number of votes and so on until 38 per cent is reached.

    • (b) The votes of a Governor under subparagraph (a) above shall not be deemed to have raised the total votes for a nominee above 38 per cent of the eligible votes if without the votes of such Governor such total would be more than 28 per cent but not more than 38 per cent of the eligible votes.

    • (c) If on any ballot two or more Governors having an equal number of votes shall have voted for the same nominee and the votes of one or more, but not all, of such Governors could be deemed under subparagraph (a) above to have raised the total votes received by such nominee above 38 per cent of the eligible votes the Chairman shall determine by lot the Governor or Governors, as the case may be, who shall be entitled to vote on the next ballot.

  • 15. Elimination of Nominees: If on any ballot two or more nominees shall receive the lowest number of votes, no nominee shall be dropped from the next succeeding ballot, but if the same situation is repeated on such succeeding ballot, the Chairman shall eliminate by lot one of the nominees from the following ballot.

  • 16. Announcement of Result: After the last ballot the Chairman shall cause to be distributed a statement setting forth the result of the election.

  • 17. Effective Date of Election of Executive Directors: The effective date of election shall be November 1, 1972. Incumbent elected Executive Directors shall serve through the day preceding such date.

  • 18. General: Any question arising in connection with the conduct of the election shall be resolved by the tellers, subject to appeal, at the request of any Governor, to the Chairman and from him to the Board. Whenever possible, any such question shall be put without identifying the members or Governors concerned.

As approved by Board of Governors Resolution No. 27-11, August 31, 1972

Statement of Results of Election, September 26, 1972

1. Candidates Elected Under Article XII, Section 3(b) (iii)

Members Whose VotesNumber of
Candidate ElectedCounted Toward Election 1Votes
Lindsay B. BrandAustralia6,900
New Zealand2,270
South Africa3,450
Swaziland330
Western Samoa270
13,220
Erik BrofossDenmark2,850
Finland2,150
Iceland480
Norway2,650
Sweden3,500
11,630
Robert BryceBarbados380
Canada11,250
Ireland1,460
Jamaica780
13,870
Nazih Ahmed DeifAfghanistan620
Bahrain350
Egypt2,130
Iraq1,340
Jordan480
Kuwait900
Lebanon340
Libyan Arab Republic490
Oman320
Pakistan2,600
Qatar450
Saudi Arabia1,590
Somalia440
Syrian Arab Republic750
United Arab Emirates400
Yemen Arab Republic350
13,550
Byanti KharmawanBurma850
Fiji380
Indonesia2,850
Khmer Republic500
Korea1,050
Laos380
Malaysia2,110
Nepal366
Philippines1,800
Singapore620
Thailand1,590
Viet-Nam870
13,366
Pieter LieftinckCyprus510
Israel1,550
Netherlands7,250
Yugoslavia2,320
11,630
S. B. Nicol-ColeBotswana300
Burundi440
Ethiopia520
Gambia, The320
Guinea490
Kenya730
Lesotho300
Liberia540
Malawi400
Nigeria1,600
Sierra Leone500
Sudan970
Tanzania670
Trinidad and Tobago880
Uganda650
Zambia1,010
10,320
Francesco Palamenghi-CrispiItaly10,250
Malta410
Portugal1,420
Spain4,200
16,280
P. S. N. PrasadBangladesh1,500
India9,650
Sri Lanka1,230
12,380
André van CampenhoutAustria2,950
Belgium6,750
Luxembourg450
Turkey1,760
11,910
Antoine YaméogoCameroon600
Central African Republic380
Chad380
Congo, People’s Republic
of the380
Dahomey380
Equatorial Guinea330
Gabon400
Ivory Coast770
Malagasy Republic510
Mali470
Mauritania380
Mauritius470
Niger380
Rwanda440
Senegal590
Togo400
Upper Volta380
Zaïre1,380
9,020
Mohammed YeganehAlgeria1,550
Ghana1,120
Greece1,630
Iran2,170
Morocco1,380
Tunisia730
Yemen, People’s Democratic
Republic of540
9,120

2. Candidates Elected Under Article XII, Section 3(b) (iv)

Guillermo BuesoCosta Rica570
El Salvador600
Guatemala610
Honduras500
Mexico3,950
Nicaragua520
Venezuela3,550
10,300
Alexandre KafkaBrazil4,650
Colombia1,820
Dominican Republic680
Guyana450
Haiti440
Panama610
Peru1,480
10,130
Carlos MassadArgentina4,650
Bolivia620
Chile1,830
Ecuador580
Paraguay440
Uruguay940
9,060
/s/ Wolfgang Schmitz/s/ Shehu Shagari
(Austria)(Nigeria)
TellerTeller

China did not participate in this election.

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