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Art.17 |
ARTICLE 17 |
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Art.17.1 |
1. Each Contracting Party shall pay the expenses of its own delegation to all meetings held under this Convention. |
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Art.17.2 |
2. At its first meeting the Commission shall adopt a budget for its first financial year. At this meeting the Commission may also, as appropriate, adopt a budget for the second financial year. |
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Art.17.3 |
3. At each annual session the Commission shall adopt a budget for the following financial year and a budget estimate for the financial year following thereafter. A draft budget and draft budget estimate shall be submitted by the President of the Commission to the Contracting Parties not less than 40 days before the meeting of the Commission at which they are to be considered. |
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Art.17.4 |
4. The Commission shall determine the contributions due from each Contracting Party under the annual budgets according to the following formula: |
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Art.17.4.a |
(a) one-third of the budget shall be divided equally among the Contracting Parties, |
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Art.17.4.b |
(b) two-thirds of the budget shall be divided among the Contracting Parties in proportion of their nominal catches in the Convention Area, on the basis of the International Council for the Exploration of the Sea definitive catch statistics for the calendar year ending not more than 24 and not less than 18 months before the beginning of the budget year, |
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Art.17.4.c |
(c) however, the annual contribution of any Contracting Party which has a population of less than 300,000 inhabitants shall be limited to a maximum of 5% of the total budget. When this contribution is so limited, the remaining part of the budget shall be divided among the other Contracting Parties in accordance with sub-paragraph (a) and (b). This rule shall be effective for the first five budget years of the Commission and thereafter it shall be subject to annual review by the Commission which may change it by a decision adopted by a three-fourths majority of all Contracting Parties. |
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Art.17.5 |
5. The Commission shall notify each Contracting Party of the contribution due from that Party as determined under paragraph 4 and of the date as determined by the Commission by which this contribution shall be paid. |
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Art.17.6 |
6. The contribution of a Contracting Party which has acceded to this Convention during the course of a financial year shall, in respect of that year, be a part proportional to the number of complete months remaining in the year of the annual contribution calculated in accordance with paragraph 4. |
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Art.17.7 |
7. Contributions shall be payable in the currency of the country in which the Office of the Commission is located. |
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Art.17.8 |
8. A Contracting Party which has not paid by the date determined by the Commission its contributions for two years shall not enjoy the right of casting votes and of making objections under this Convention until it has fulfilled its obligations, unless, at the request of the Contracting Party concerned, the Commission decides otherwise. |
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Art.17.9 |
9. The Commission shall adopt rules for the conduct of its financial affairs. |
