GIPE-PUNE-OIIOI2 - DSpace@GIPE

42 THE RE-MAKING OF THE REICHSBANK
according to nationality but all the seven foreign ~embers
are to vote. The election is to be unanimous :minu~ one.
The ~om:missar for note-issue is elected by the General
Council from one of its foreign members. There is to
be a majority of 'nine votes of whom at least six are foreign.
In case a non-member of the General Council is elected,
his national on the General Council has to retire. As soon
as the commissar is elected he becomes a member of the
General ,Council for 4 years.
The commissar is to obtain every day froOm the Ditek ..
l:orium all facts and figures bearing on the notes and
note-covers. He is the authority in regard to the prepara-
1ion, issue, withdrawal and des~ruction of notes and responsible
likewise for the control of notes according to the
law. He has the right to attend the meetings of the
Direktorium.
The general assembly of' sha.re-holders is composed
of every registered share-holder. Only those who are
present in meetings have the right to vote. The number
'of, votes depends on the nominal value of the shares in the
possession qf each.
One share, one vote. But not more than 300, votes
can be combined in one person. Simple majority
decides, but in case of an equal division the deciding factor
1s the nominal value of the shares.
The report of the administration is presented to the
'general assembly every year. The balance sheet, profit
and loss account as well as distribution of profits are all ,
decided by it in accordance wrth t~e provisions of the law.
Jt has also to decide on the alterations in statutes suggested
by the DiTektorium with' the approval of the General
Council. ' It cannot, however, take the initiative in this