By-laws for the Conduct of the Business of IFAD

These By-laws, adopted pursuant to Article 6.2 of the Agreement, are intended to be complementary to the Agreement and shall be construed accordingly.

In the event of a conflict between the provisions of these By-laws and the Agreement, the provisions of the Agreement shall prevail.

In the event of a conflict between these By-laws and any rules and regulations adopted pursuant to the Agreement, the By-laws shall prevail.