Article 44
The following is substituted for Article 4 of Protocol No 1 annexed to the Act of Accession: 'Article 4 The following is substituted for the first three subparagraphs of Article 11 (2) of the Protocol on the Statute of the Bank: "2. The Board of Directors shall consist of 25 Directors and 13 alternates. The Directors shall be appointed by the Board of Governors for five years as shown below: - three Directors nominated by the Federal Republic of Germany, - three Directors nominated by the French Republic, - three Directors nominated by the Italian Republic, - three Directors nominated by the United Kingdom of Great Britain and Northern Ireland, - two Directors nominated by the Kingdom of Spain, - one Director nominated by the Kingdom of Belgium, - one Director nominated by the Kingdom of Denmark, - one Director nominated by the Hellenic Republic, - one Director nominated by Ireland, - one Director nominated by the Grand Duchy of Luxembourg, - one Director nominated by the Kingdom of the Netherlands, - one Director nominated by the Republic of Austria, - one Director nominated by the Portuguese Republic, - one Director nominated by the Republic of Finland, - one Director nominated by the Kingdom of Sweden, - one Director nominated by the Commission. The alternates shall be appointed by the Board of Governors for five years as shown below: - two alternates nominated by the Federal Republic of Germany, - two alternates nominated by the French Republic, - two alternates nominated by the Italian Republic, - two alternates nominated by the United Kingdom of Great Britain and Northern Ireland, - one alternate nominated by common accord of the Kingdom of Spain and the Portuguese Republic, - one alternate nominated by common accord of the Benelux countries, - one alternate nominated by common accord of the Kingdom of Denmark, the Hellenic Republic and Ireland, - one alternate nominated by common accord of the Republic of Austria, the Republic of Finland and the Kingdom of Sweden, - one alternate nominated by the Commission." `.