The Fund shall report annually on the restrictions in force under Section 2 of this Article. Each Member which maintains restrictions inconsistent with Sections 2, 3 or 4 of Article VIII shall consult the Fund annually with respect to their subsequent withholding. The Fund may, if it considers that such a measure is necessary in exceptional circumstances, recognize to any Member that the conditions are favourable to the withdrawal of a particular restriction or to the general lifting of restrictions inconsistent with the provisions of the other Articles of this Agreement. The member shall have a reasonable period of time to reply to such statements. Where the Fund finds that the Member retains restrictions inconsistent with the objectives of the Fund, the Member shall be subject to Article XXVI(2)(a). If a member leaves the Fund, the normal operations and operations of the Fund shall be suspended in its currency and payment of all accounts between the Fund and the Fund shall be made with appropriate dispatch, in agreement with the Fund. In the absence of an agreement without delay, the provisions of Annex J shall apply to the statement. The IFC By-Laws were drafted by the Bank`s Executive Directors and entered into force on 20 July 1956. The IFC government document was amended four times: September 21, 1961, September 1, 1965, April 28, 1993, and June 27, 2012. The articles of the International Monetary Fund Treaty were adopted at the United Nations Monetary and Financial Conference (Bretton Woods, New Hampshire) on 22 July 1944. They were initially accepted by 29 countries and have since been signed and ratified by a total of 190 Member States.
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