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Art.9 |
Article 9 THE EXECUTIVE SECRETARIAT |
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Art.9.1 |
1.The Executive Secretariat is the executive organ of the Authority. |
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Art.9.2 |
2.The Executive Secretariat is run by an Executive Secretary who is appointed, upon recommendation by the Council of Ministers, to the Summit of Heads of State and Government for a period of four (4) years, renewable only once. Each member State has the right to present a candidate for the post of Executive Secretary. |
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Art.9.3 |
3.The Executive Secretary is the Chief Executive Officer of the Authority. He is assisted by a Deputy Executive Secretary appointed by the Council of Ministers for a term of four (4) years, renewable only once. The Deputy Executive Secretary is under the authority of the Executive Secretary. |
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Art.9.4 |
4.The Executive Secretary and/or the Deputy Executive Secretary may be removed from office by the Summit on the recommendation of the Council of Ministers. |
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Art.9.5 |
5.Subject to the overriding importance of securing for the Authority the services of persons possessing the highest qualifications and technical experience due regard shall be paid, on appointing officers to the offices of the Executive Secretariat, to the desirability of maintaining an equitable distribution of appointments to such posts among member States. |
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Art.9.6 |
6.In the exercise of his duties, the Executive Secretary shall be responsible to the superior organs of the Authority. The Deputy Executive Secretary and the other officials of the Secretariat shall be responsible to the Executive Secretary. |
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Art.9.7 |
7.The Executive Secretary shall be responsible for the administration of the Authority and all its organs. For this purpose, he shall specifically: |
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Art.9.7.a |
(a) undertake such works and studies with a view to achieving the objectives of the Authority, as may be assigned to him by the Council of Ministers and formulate such proposals as may assist in the harmonious development of the Authority; |
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Art.9.7.b |
(b) negotiate loans and receive gifts on behalf of the Authority with approval by the Council of Ministers. |
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Sect.4 |
Chapter IV FINANCIAL PROVISIONS |
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Art.10 |
Article 10 THE BUDGET OF THE AUTHORITY |
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Art.10.1 |
1.It is established for every year a balanced Budget of the Authority. |
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Art.10.2 |
2.All the expenses of the Authority, including those relating to the specialized organs of the Executive Secretary, are approved, for each fiscal year, by the Council of Ministers and are imputable to the Budget according to conditions and modalities which are defined in the financial regulations of the Authority. |
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Art.11 |
Article 11 CONTRIBUTIONS OF MEMBER STATES |
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Art.11.1 |
1.The operating Budget of the Executive Secretary of the Authority shall be financed by contributions equally shared among the member States. |
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Art.11.2 |
2.The member States pledge to pay regularly their annual contributions to the Budget of the Authority. |
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Art.12 |
Article 12 CURRENCIES OF PAYMENT OF CONTRIBUTIONS |
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Art.12.1 |
1.The contributions payable by each member State of the Authority under this Convention shall be paid in convertible currency. |
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Art.12.2 |
2.The Unit of Account in which the Budget of the Authority is established is that of the host country. |
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Art.12.3 |
3.Are considered as "convertible currencies" under this Article: currencies declared as such by the International Monetary Fund and other currencies which the Council shall consider as such. |
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Art.12.4 |
4.The exchange rate of the currencies of the member States of the Authority meant for the payments of their contributions under this Convention, shall be the official rate declared to the International Monetary Fund at the date of payment. In case the currency of a member State depreciates, the normal rate of buying and selling of the member State's Central Bank shall be applied. |
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Art.13 |
Article 13 FINANCIAL REGULATION |
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Art.13.1 |
1.The Council of Ministers shall establish the Financial Regulation with a view to implementing the provisions of this Chapter. |
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Art.14 |
Article 14 THE FINANCIAL CONTROLLER AND THE EXTERNAL AUDITOR |
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Art.14.1 |
1.A Financial Controller shall be appointed by the Council of Ministers to whom he shall be answerable. He shall be directly responsible as far as the financial management of the Secretariat is concerned. |
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Art.14.2 |
2.An External Auditor of the Authority is appointed on the recommendation of the host country to the Council of Ministers and may be removed from office, when need be, by the Council. |
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Art.14.3 |
3.The rules governing the terms and conditions of service of the Financial Controller and the powers of the External Auditor are as laid down in the Financial Regulation. |
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Sect.5 |
Chapter V SETTLEMENT OF DISPUTES |
