Displaying 1 - 47 of 47

Paragraphs in "International Tropical Timber Agreement" coded as SECF

Label Provision
Art.9 Article 9
Art.9.1 1. As a general rule, the Council shall hold at least one regular session a year.
Art.9.2 2. The Council shall meet in special session whenever it so decides or at the request of:
Art.9.2.a (a) The Executive Director, in agreement with the Chairman of the Council; or
Art.9.2.b (b) A majority of producing members or a majority of consuming members; or
Art.9.2.c (c) Members holding at least 500 votes.
Art.9.3 3. Sessions of the Council shall be held at the headquarters of the Organization unless the Council, by special vote, decides otherwise. If on the invitation of any member the Council meets elsewhere than at the headquarters of the Organization, that member shall pay the additional cost of holding the meeting away from headquarters.
Art.9.4 4. Notice of any sessions and the agenda for such sessions shall be communicated to members by the Executive Director at least six weeks in advance, except in cases of emergency, when notice shall be communicated at least seven days in advance.
Art.16 Article 16
Art.16.1 1. The Council shall, by special vote, appoint the Executive Director.
Art.16.2 2. The terms and conditions of appointment of the Executive Director shall be determined by the Council.
Art.16.3 3. The Executive Director shall be the chief administrative officer of the Organization and shall be responsible to the Council for the administration and operation of this Agreement in accordance with decisions of the Council.
Art.16.4 4. The Executive Director shall appoint the staff in accordance with regulations to be established by the Council. At its first session, the Council shall, by special vote, decide the number of executive and professional staff the Executive Director may appoint. Any changes in the number of executive and professional staff shall be decided by the Council by special vote. The staff shall be responsible to the Executive Director.
Art.16.5 5. Neither the Executive Director nor any member of the staff shall have any financial interest in the tropical timber industry or trade, or associated commercial activities.
Art.16.6 6. In the performance of their duties, the Executive Director and staff shall not seek or receive instructions from any member or from any authority external to the Organization. They shall refrain from any action which might reflect on their positions as international officials ultimately responsible to the Council. Each member shall respect the exclusively international character of the responsibilities of the Executive Director and staff and shall not seek to influence them in the discharge of their responsibilities.
Art.18 Article 18
Art.18.1 1. There shall be established two accounts:
Art.18.1.a (a) The Administrative Account; and
Art.18.1.b (b) The Special Account.
Art.18.2 2. The Executive Director shall be responsible for the administration of these accounts and the Council shall make provision in its rules of procedure therefor.
Art.19 Article 19
Art.19.1 1. The expenses necessary for the administration of this Agreement shall be brought into the Administrative Account and shall be met by annual contributions paid by members in accordance with their respective constitutional or institutional procedures and assessed in accordance with paragraphs 3, 4 and 5 of this article.
Art.19.2 2. The expenses of delegations to the Council, the committees and any other subsidiary bodies of the Council referred to in article 24 shall be met by the members concerned. In cases where a member requests special services from the Organization, the Council shall require that member to pay the costs of such services.
Art.19.3 3. Before the end of each financial year, the Council shall approve the administrative budget of the Organization for the following financial year and shall assess the contribution of each member to that budget.
Art.19.4 4. The contribution of each member to the administrative budget for each financial year shall be in the proportion which the number of its votes at the time the administrative budget for that financial year is approved bears to the total votes of all the members. In assessing contributions, the votes of each member shall be calculated without regard to the suspension of any member's voting rights or any redistribution of votes resulting therefrom.
Art.19.5 5. The initial contribution of any member joining the Organization after the entry into force of this Agreement shall be assessed by the Council on the basis of the number of votes to be held by that member and the period remaining in the current financial year, but the assessment made upon other members from the current financial year shall not thereby be altered.
Art.19.6 6. Contributions to the first administrative budget shall become due on a date to be decided by the Council at its first session. Contributions to subsequent administrative budgets shall become due on the first day of each financial year. Contributions of members in respect of the financial year in which they join the Organization shall be due on the date on which they become members.
Art.19.7 7. If a member has not paid its full contribution to the administrative budget within four months after such contribution becomes due in accordance with paragraph 6 of this article, the Executive Director shall request that member to make payment as quickly as possible. If that member has still not paid its contribution within two months after such request, that member shall be requested to state the reasons for its inability to make payment. If at the expiry of seven months from the due date of contribution, that member has still not paid its contribution, its voting rights shall be suspended and an interest charge shall be levied on its late contribution at the central bank rate of the host country until such time as it has paid in full its contribution, unless the Council, by special vote, decides otherwise.
Art.19.8 8. A member whose rights have been suspended under paragraph 7 of this article shall remain liable to pay its contribution.
Art.20 Article 20
Art.20.1 1. There shall be established two sub-accounts under the Special Account:
Art.20.1.a (a) The Pre-Project Sub-Account; and
Art.20.1.b (b) The Project Sub-Account.
Art.20.2 2. The possible sources of finance for the Special Account shall be:
Art.20.2.a (a) The Second Account of the Common Fund for Commodities, when it becomes operational;
Art.20.2.b (b) Regional and international financial institutions; and
Art.20.2.c (c) Voluntary contributions.
Art.20.3 3. The resources of the Special Account shall be used only for approved projects or for pre-project activities.
Art.20.4 4. All expenditures under the Pre-Project Sub-Account shall be reimbursed from the Project Sub-Account if projects are subsequently approved and funded. If within six months of the entry into force of this Agreement the Council does not receive any funds for the Pre-Project Sub-Account, it shall review the situation and take appropriate action.
Art.20.5 5. All receipts pertaining to specific identifiable projects shall be brought into the Special Account. All expenditures incurred on such projects, including remuneration and travel expenses of consultants and experts, shall be charged to the Special Account.
Art.20.6 6. The Council shall, by special vote, establish terms and conditions on which it would, when and where appropriate, sponsor projects for loan financing, where a member or members have voluntarily assumed full obligations and responsibilities for such loans. The Organization shall have no obligations for such loans.
Art.20.7 7. The Council may nominate and sponsor any entity with the consent of that entity, including a member or members, to receive loans for the financing of approved projects and to undertake all the obligations involved, except that the Organization shall reserve to itself the right to monitor the use of resources and to follow up on the implementation of projects so financed. However, the Organization shall not be responsible for guarantees voluntarily provided by individual members or other entities.
Art.20.8 8. No member shall be responsible by reason of its membership in the Organization for any liability arising from borrowing or lending by any other member or entity in connection with projects.
Art.20.9 9. In the event that voluntary unearmarked funds are offered to the Organization, the Council may accept such funds. Such funds may be utilized for pre-project activities as well as for approved projects.
Art.20.10 10. The Executive Director shall endeavour to seek, on such terms and conditions as the Council may decide, adequate and assured finance for projects approved by the Council.
Art.20.11 11. Contributions for specified approved projects shall be used only for the projects for which they were originally intended, unless otherwise decided by the Council in agreement with the contributor. After the completion of a project, the Organization shall return to each contributor for specific projects the balance of any funds remaining pro rata to each contributor's share in the total of the contributions originally made available for financing that project, unless otherwise agreed to by the contributor.