|
Art.3 |
Article 3 |
|
Art.3.1 |
1. The International Tropical Timber Organization established by the International Tropical Timber Agreement, 1983 shall continue in being for the purposes of administering the provisions and supervising the operation of this Agreement. |
|
Art.3.2 |
2. The Organization shall function through the Council established under article 6, the committees and other subsidiary bodies referred to in article 26 and the Executive Director and staff. |
|
Art.3.3 |
3. The headquarters of the Organization shall be in Yokohama, unless the Council, by special vote, decides otherwise. |
|
Art.3.4 |
4. The headquarters of the Organization shall at all times be located in the territory of a member. |
|
Art.7 |
Article 7 |
|
Art.7.1 |
1. The Council shall exercise all such powers and perform or arrange for the performance of all such functions as are necessary to carry out the provisions of this Agreement. |
|
Art.7.2 |
2. The Council shall, by special vote, adopt such rules and regulations as are necessary to carry out the provisions of this Agreement and as are consistent therewith, including its own rules of procedure and the financial rules and staff regulations of the Organization. Such financial rules shall, inter alia, govern the receipt and expenditure of funds under the Administrative Account, the Special Account and the Bali Partnership Fund. The Council may, in its rules of procedure, provide for a procedure whereby it may, without meeting, decide specific questions. |
|
Art.7.3 |
3. The Council shall keep such records as are required for the performance of its functions under this Agreement. |
|
Art.8 |
Article 8 |
|
Art.8.1 |
1. The Council shall elect for each calendar year a Chairman and a Vice Chairman, whose salaries shall not be paid by the Organization. |
|
Art.8.2 |
2. The Chairman and the Vice-Chairman shall be elected, one from among the representatives of producing members and the other from among the representatives of consuming members. These offices shall alternate each year between the two categories of members, provided, however, that this shall not prohibit the re-election of either or both, under exceptional circumstances, by special vote of the Council. |
|
Art.8.3 |
3. In the temporary absence of the Chairman, the Vice-Chairman shall act in his place. In the temporary absence of both the Chairman and the Vice Chairman, or in the absence of one or both of them for the rest of the term for which they were elected, the Council may elect new officers from among the representatives of the producing members and/or from among the representatives of the consuming members, as the case may be, on a temporary basis or for the rest of the term for which the predecessor or predecessors were elected. |
|
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.10 |
Article 10 |
|
Art.10.1 |
1. The producing members shall together hold 1,000 votes and the consuming members shall together hold 1,000 votes. |
|
Art.10.2 |
2. The votes of the producing members shall be distributed as follows: |
|
Art.10.2.a |
(a) Four hundred votes shall be distributed equally among the three producing regions of Africa, Asia-Pacific and Latin America. The votes thus allocated to each of these regions shall then be distributed equally among the producing members of that region; |
|
Art.10.2.b |
(b) Three hundred votes shall be distributed among the producing members in accordance with their respective shares of the total tropical forest resources of all producing members; and |
|
Art.10.2.c |
(c) Three hundred votes shall be distributed among the producing members in proportion to the average of the values of their respective net exports of tropical timber during the most recent three-year period for which definitive figures are available. |
|
Art.10.3 |
3. Notwithstanding the provisions of paragraph 2 of this article, the total votes allocated to the producing members from the African region, calculated in accordance with paragraph 2 of this article, shall be distributed equally among all producing members from the African region. If there are any remaining votes, each of these votes shall be allocated to a producing member from the African region: the first to the producing member which is allocated the highest number of votes calculated in accordance with paragraph 2 of this article, the second to the producing member which is allocated the second highest number of votes, and so on until all the remaining votes have been distributed. |
|
Art.10.4 |
4. For purposes of the calculation of the distribution of votes under paragraph 2 (b) of this article, "tropical forest resources" means productive closed broadleaved forests as defined by the Food and Agriculture Organization (FAO). |
|
Art.10.5 |
5. The votes of the consuming members shall be distributed as follows: each consuming member shall have 10 initial votes: the remaining votes shall be distributed among the consuming members in proportion to the average volume of their respective net imports of tropical timber during the three-year period commencing four calendar years prior to the distribution of votes. |
|
Art.10.6 |
6. The Council shall distribute the votes for each financial year at the beginning of its first session of that year in accordance with the provisions of this article. Such distribution shall remain in effect for the rest of that year, except as provided for in paragraph 7 of this article. |
|
Art.10.7 |
7. Whenever the membership of the Organization changes or when any member has its voting rights suspended or restored under any provision of this Agreement, the Council shall redistribute the votes within the affected category or categories of members in accordance with the provisions of this article. The Council shall, in that event, decide when such redistribution shall become effective. |
|
Art.10.8 |
8. There shall be no fractional votes. |
|
Art.12 |
Article 12 |
|
Art.12.1 |
1. The Council shall endeavour to take all decisions and to make all recommendations by consensus. If consensus cannot be reached, the Council shall take all decisions and make all recommendations by a simple distributed majority vote, unless this Agreement provides for a special vote. |
|
Art.12.2 |
2. Where a member avails itself of the provisions of article 11, paragraph 2, and its votes are cast at a meeting of the Council, such member shall, for the purposes of paragraph 1 of this article, be considered as present and voting. |
|
Art.14 |
Article 14 |
|
Art.14.1 |
1. The Council shall make arrangements as appropriate for consultations and cooperation with the United Nations and its organs, including the United Nations Conference on Trade and Development (UNCTAD) and the Commission on Sustainable Development (CSD), intergovernmental organizations, including the General Agreement on Tariffs and Trade (GATT) and the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), and non-governmental organizations. |
|
Art.14.2 |
2. The Organization shall, to the maximum extent possible, utilize the facilities, services and expertise of existing intergovernmental, governmental or non-governmental organizations, in order to avoid duplication of efforts in achieving the objectives of this Agreement and to enhance the complementarity and the efficiency of their activities. |
|
Art.15 |
Article 15 |
|
Art.15.1x |
The Council may invite any non-member Government or any of the organizations referred to in article 14, article 20 and article 29, interested in the activities of the Organization to attend as observers any of the meetings of the Council. |
|
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. 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 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 adversely 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. |
|
Sect.5 |
CHAPTER V. PRIVILEGES AND IMMUNITIES |
|
Art.17 |
Article 17 |
|
Art.17.1 |
1. The Organization shall have legal personality. It shall in particular have the capacity to contract, to acquire and dispose of movable and immovable property, and to institute legal proceedings. |
|
Art.17.2 |
2. The status, privileges and immunities of the Organization, of its Executive Director, its staff and experts, and of representatives of members while in the territory of Japan shall continue to be governed by the Headquarters Agreement between the Government of Japan and the International Tropical Timber Organization signed at Tokyo on 27 February 1988, with such amendments as may be necessary for the proper functioning of this Agreement. |
|
Art.17.3 |
3. The Organization may conclude, with one or more countries, agreements to be approved by the Council relating to such capacity, privileges and immunities as may be necessary for the proper functioning of this Agreement. |
|
Art.17.4 |
4. If the headquarters of the Organization is moved to another country, the member in question shall, as soon as possible, conclude with the Organization a headquarters agreement to be approved by the Council. Pending the conclusion of such an agreement, the Organization shall request the new host Government to grant, within the limits of its national legislation, exemption from taxation on remuneration paid by the Organization to its employees, and on the assets, income and other property of the Organization. |
|
Art.17.5 |
5. The Headquarters Agreement shall be independent of this Agreement. It shall, however, terminate: |
|
Art.17.5.a |
(a) By agreement between the host Government and the Organization; |
|
Art.17.5.b |
(b) In the event of the headquarters of the Organization being moved from the country of the host Government; or |
|
Art.17.5.c |
(c) In the event of the Organization ceasing to exist. |
|
Sect.6 |
CHAPTER VI. FINANCE |
|
Art.18 |
Article 18 |
|
Art.18.1 |
1. There shall be established: |
|
Art.18.1.a |
(a) The Administrative Account; |
|
Art.18.1.b |
(b) The Special Account; |
|
Art.18.1.c |
(c) The Bali Partnership Fund; and |
|
Art.18.1.d |
(d) Such other accounts as the Council shall deem appropriate and necessary. |
|
Art.18.2 |
2. The Executive Director shall be responsible for the administration of these accounts and the Council shall make provision therefor in the financial rules of the Organization. |
|
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 26 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 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 quick |
|
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.21 |
Article 21 |
|
Art.21.1 |
1. A Fund for sustainable management of tropical timber producing forests is hereby established to assist producing members to make the investments necessary to achieve the objective of article 1 (d) of this Agreement. |
|
Art.21.2 |
2. The Fund shall be constituted by: |
|
Art.21.2.a |
(a) Contributions from donor members; |
|
Art.21.2.b |
(b) Fifty per cent of income earned as a result of activities related to the Special Account; |
|
Art.21.2.c |
(c) Resources from other private and public sources which the Organization may accept consistent with its financial rules. |
|
Art.21.3 |
3. Resources of the Fund shall be allocated by the Council only for pre projects and projects for the purpose set out in paragraph 1 of this article and approved in accordance with article 25. |
|
Art.21.4 |
4. In allocating resources of the Fund, the Council shall take into account: |
|
Art.21.4.a |
(a) The special needs of members whose forestry sectors' contribution to their economies is adversely affected by the implementation of the strategy for achieving the exports of tropical timber and timber products from sustainably managed sources by the year 2000; |
|
Art.21.4.b |
(b) The needs of members with significant forest areas who establish conservation programmes in timber producing forests. |
|
Art.21.5 |
5. The Council shall examine annually the adequacy of the resources available to the Fund and endeavour to obtain additional resources needed by producing members to achieve the purpose of the Fund. The ability of members to implement the strategy referred to in paragraph 4 (a) of this article will be influenced by the availability of resources. |
|
Art.21.6 |
6. The Council shall establish policies and financial rules for the operation of the Fund, including rules covering the settlement of accounts on termination or expiry of this Agreement. |
|
Art.22 |
Article 22 |
|
Art.22.1 |
1. Contributions to the Administrative Account shall be payable in freely usable currencies and shall be exempt from foreign-exchange restrictions. |
|
Art.22.2 |
2. Financial contributions to the Special Account and the Bali Partnership Fund shall be payable in freely usable currencies and shall be exempt from foreign-exchange restrictions. |
|
Art.22.3 |
3. The Council may also decide to accept other forms of contributions to the Special Account or the Bali Partnership Fund, including scientific and technical equipment or personnel, to meet the requirements of approved projects. |
|
Art.23 |
Article 23 |
|
Art.23.1 |
1. The Council shall appoint independent auditors for the purpose of auditing the accounts of the Organization. |
|
Art.23.2 |
2. Independently audited statements of the Administrative Account, of the Special Account and of the Bali Partnership Fund shall be made available to members as soon as possible after the close of each financial year, but not later than six months after that date, and be considered for approval by the Council at its next session, as appropriate. A summary of the audited accounts and balance sheet shall thereafter be published. |
|
Sect.7 |
CHAPTER VII. OPERATIONAL ACTIVITIES |
|
Art.24 |
Article 24 |
|
Art.24.1x |
In order to achieve the objectives set out in article 1, the Organization shall undertake policy work and project activities in the areas of Economic Information and Market Intelligence, Reforestation and Forest Management and Forest Industry, in a balanced manner, to the extent possible integrating policy work and project activities. |
|
Art.25 |
Article 25 |
|
Art.25.1 |
1. Bearing in mind the needs of developing countries, members may submit pre-project and project proposals to the Council in the fields of research and development, market intelligence, further and increased wood processing in producing member countries, and reforestation and forest management. Pre projects and projects should contribute to the achievement of one or more of the objectives of this Agreement. |
|
Art.25.2 |
2. The Council, in approving pre-projects and projects, shall take into account: |
|
Art.25.2.a |
(a) Their relevance to the objectives of this Agreement; |
|
Art.25.2.b |
(b) Their environmental and social effects; |
|
Art.25.2.c |
(c) The desirability of maintaining an appropriate geographical balance; |
|
Art.25.2.d |
(d) The interests and characteristics of each of the developing producing regions; |
|
Art.25.2.e |
(e) The desirability of equitable distribution of resources among the fields referred to in paragraph 1 of this article; |
|
Art.25.2.f |
(f) Their cost-effectiveness; and |
|
Art.25.2.g |
(g) The need to avoid duplication of efforts. |
|
Art.25.3 |
3. The Council shall establish a schedule and procedure for submitting, appraising, and prioritizing pre-projects and projects seeking funding from the Organization, as well as for their implementation, monitoring and evaluation. The Council shall decide on the approval of pre-projects and projects for financing or sponsorship in accordance with article 20 or article 21. |
|
Art.25.4 |
4. The Executive Director may suspend disbursement of the Organization's funds to a pre-project or project if they are being used contrary to the project document or in cases of fraud, waste, neglect or mismanagement. The Executive Director will provide to the Council at its next session a report for its consideration. The Council shall take appropriate action. |
|
Art.25.5 |
5. The Council may, by special vote, terminate its sponsorship of any pre project or project. |
|
Art.26 |
Article 26 |
|
Art.26.1 |
1. The following are hereby established as Committees of the Organization: |
|
Art.26.1.a |
(a) Committee on Economic Information and Market Intelligence; |
|
Art.26.1.b |
(b) Committee on Reforestation and Forest Management; |
|
Art.26.1.c |
(c) Committee on Forest Industry; and |
|
Art.26.1.d |
(d) Committee on Finance and Administration. |
|
Art.26.2 |
2. The Council may, by special vote, establish such other committees and subsidiary bodies as it deems appropriate and necessary. |
|
Art.26.3 |
3. Participation in each of the committees shall be open to all members. The rules of procedure of the committees shall be decided by the Council. |
|
Art.26.4 |
4. The committees and subsidiary bodies referred to in paragraphs 1 and 2 of this article shall be responsible to, and work under the general direction of, the Council. Meetings of the committees and subsidiary bodies shall be convened by the Council. |
|
Art.28 |
Article 28 |
|
Art.28.1x |
The Organization shall take full advantage of the facilities of the Common Fund for Commodities. |
|
Sect.9 |
CHAPTER IX. STATISTICS, STUDIES AND INFORMATION |
|
Art.29 |
Article 29 |
|
Art.29.1 |
1. The Council shall establish close relationships with relevant intergovernmental, governmental and non-governmental organizations, in order to help ensure the availability of recent reliable data and information on the trade in tropical timber, as well as relevant information on non-tropical timber and on the management of timber producing forests. As deemed necessary for the operation of this Agreement, the Organization, in cooperation with such organizations, shall compile, collate and, where relevant, publish statistical information on production, supply, trade, stocks, consumption and market prices of timber, the extent of timber resources and the management of timber producing forests. |
|
Art.29.2 |
2. Members shall, to the fullest extent possible not inconsistent with their national legislation, furnish, within a reasonable time, statistics and information on timber, its trade and the activities aimed at achieving sustainable management of timber producing forests as well as other relevant information as requested by the Council. The Council shall decide on the type of information to be provided under this paragraph and on the format in which it is to be presented. |
|
Art.29.3 |
3. The Council shall arrange to have any relevant studies undertaken of the trends and of short- and long-term problems of the international timber markets and of the progress towards the achievement of sustainable management of timber producing forests. |
|
Art.30 |
Article 30 |
|
Art.30.1 |
1. The Council shall, within six months after the close of each calendar year, publish an annual report on its activities and such other information as it considers appropriate. |
|
Art.30.2 |
2. The Council shall annually review and assess: |
|
Art.30.2.a |
(a) The international timber situation; |
|
Art.30.2.b |
(b) Other factors, issues and developments considered relevant to achieve the objectives of this Agreement. |
|
Art.30.3 |
3. The review shall be carried out in the light of: |
|
Art.30.3.a |
(a) Information supplied by members in relation to national production, trade, supply, stocks, consumption and prices of timber; |
|
Art.30.3.b |
(b) Other statistical data and specific indicators provided by members as requested by the Council; |
|
Art.30.3.c |
(c) Information supplied by members on their progress towards the sustainable management of their timber producing forests; |
|
Art.30.3.d |
(d) Such other relevant information as may be available to the Council either directly or through the organizations in the United Nations system and intergovernmental, governmental or non-governmental organizations. |
|
Art.30.4 |
4. The Council shall promote the exchange of views among member countries regarding: |
|
Art.30.4.a |
(a) The status of sustainable management of timber producing forests and related matters in member countries; |
|
Art.30.4.b |
(b) Resource flows and requirements in relation to objectives, criteria and guidelines set by the Organization. |
|
Art.30.5 |
5. Upon request, the Council shall endeavour to enhance the technical capacity of member countries, in particular developing member countries, to obtain the data necessary for adequate information-sharing, including the provision of resources for training and facilities to members. |
|
Art.30.6 |
6. The results of the review shall be included in the reports of the Council's deliberations. |
|
Sect.10 |
CHAPTER X. MISCELLANEOUS |
|
Art.31 |
Article 31 |
|
Art.31.1x |
Any complaint that a member has failed to fulfil its obligations under this Agreement and any dispute concerning the interpretation or application of this Agreement shall be referred to the Council for decision. Decisions of the Council on these matters shall be final and binding. |
|
Art.33 |
Article 33 |
|
Art.33.1 |
1. Where it is necessary on account of exceptional circumstances or emergency or force majeure not expressly provided for in this Agreement, the Council may, by special vote, relieve a member of an obligation under this Agreement if it is satisfied by an explanation from that member regarding the reasons why the obligation cannot be met. |
|
Art.33.2 |
2. The Council, in granting relief to a member under paragraph 1 of this article, shall state explicitly the terms and conditions on which, and the period for which, the member is relieved of such obligation, and the reasons for which the relief is granted. |
|
Art.34 |
Article 34 |
|
Art.34.1 |
1. Developing importing members whose interests are adversely affected by measures taken under this Agreement may apply to the Council for appropriate differential and remedial measures. The Council shall consider taking appropriate measures in accordance with section III, paragraphs 3 and 4, of resolution 93 (IV) of the United Nations Conference on Trade and Development. |
|
Art.34.2 |
2. Members in the category of least developed countries as defined by the United Nations may apply to the Council for special measures in accordance with section III, paragraph 4, of resolution 93 (IV) and with paragraphs 56 and 57 of the Paris Declaration and Programme of Action for the Least Developed Countries for the 1990s. |
|
Art.35 |
Article 35 |
|
Art.35.1x |
The Council shall review the scope of this Agreement four years after its entry into force. |
|
Art.42 |
Article 42 |
|
Art.42.1 |
1. The Council may, by special vote, recommend an amendment of this Agreement to members. |
|
Art.42.2 |
2. The Council shall fix a date by which members shall notify the depositary of their acceptance of the amendment. |
|
Art.42.3 |
3. An amendment shall enter into force 90 days after the depositary has received notifications of acceptance from members constituting at least two thirds of the producing members and accounting for at least 75 per cent of the votes of the producing members, and from members constituting at least two thirds of the consuming members and accounting for at least 75 per cent of the votes of the consuming members. |
|
Art.42.4 |
4. After the depositary informs the Council that the requirements for entry into force of the amendment have been met, and notwithstanding the provisions of paragraph 2 of this article relating to the date fixed by the Council, a member may still notify the depositary of its acceptance of the amendment, provided that such notification is made before the entry into force of the amendment. |
|
Art.42.5 |
5. Any member which has not notified its acceptance of an amendment by the date on which such amendment enters into force shall cease to be a party to this Agreement as from that date, unless such member has satisfied the Council that its acceptance could not be obtained in time owing to difficulties in completing its constitutional or institutional procedures, and the Council decides to extend for that member the period for acceptance of the amendment. Such member shall not be bound by the amendment before it has notified its acceptance thereof. |
|
Art.42.6 |
6. If the requirements for the entry into force of the amendment have not been met by the date fixed by the Council in accordance with paragraph 2 of this article, the amendment shall be considered withdrawn. |
|
Art.44 |
Article 44 |
|
Art.44.1x |
If the Council decides that any member is in breach of its obligations under this Agreement and decides further that such breach significantly impairs the operation of this Agreement, it may, by special vote, exclude that member from this Agreement. The Council shall immediately so notify the depositary. Six months after the date of the Council's decision, that member shall cease to be a party to this Agreement. |
|
Art.45 |
Article 45 |
|
Art.45.1 |
1. The Council shall determine any settlement of accounts with a member which ceases to be a party to this Agreement owing to: |
|
Art.45.1.a |
(a) Non-acceptance of an amendment to this Agreement under article 42; |
|
Art.45.1.b |
(b) Withdrawal from this Agreement under article 43; or |
|
Art.45.1.c |
(c) Exclusion from this Agreement under article 44. |
|
Art.45.2 |
2. The Council shall retain any contribution paid to the Administrative Account, to the Special Account or to the Bali Partnership Fund by a member which ceases to be a party to this Agreement. |
|
Art.45.3 |
3. A member which has ceased to be a party to this Agreement shall not be entitled to any share of the proceeds of liquidation or the other assets of the Organization. Nor shall such member be liable for payment of any part of the deficit, if any, of the Organization upon termination of this Agreement. |
|
Art.46 |
Article 46 |
|
Art.46.1 |
1. This Agreement shall remain in force for a period of four years after its entry into force unless the Council, by special vote, decides to extend, renegotiate or terminate it in accordance with the provisions of this article. |
|
Art.46.2 |
2. The Council may, by special vote, decide to extend this Agreement for two periods of three years each. |
|
Art.46.3 |
3. If, before the expiry of the four-year period referred to in paragraph 1 of this article, or before the expiry of an extension period referred to in paragraph 2 of this article, as the case may be, a new agreement to replace this Agreement has been negotiated but has not yet entered into force either definitively or provisionally, the Council may, by special vote, extend this Agreement until the provisional or definitive entry into force of the new agreement. |
|
Art.46.4 |
4. If a new agreement is negotiated and enters into force during any period of extension of this Agreement under paragraph 2 or paragraph 3 of this article, this Agreement, as extended, shall terminate upon the entry into force of the new agreement. |
|
Art.46.5 |
5. The Council may at any time, by special vote, decide to terminate this Agreement with effect from such date as it may determine. |
|
Art.46.6 |
6. Notwithstanding the termination of this Agreement, the Council shall continue in being for a period not exceeding 18 months to carry out the liquidation of the Organization, including the settlement of accounts, and, subject to relevant decisions to be taken by special vote, shall have during that period such powers and functions as may be necessary for these purposes. |
|
Art.46.7 |
7. The Council shall notify the depositary of any decision taken under this article. |
