Displaying 1 - 51 of 51

Paragraphs in "International Tropical Timber Agreement" coded as FINPR

Label Provision
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.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.
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.28 Article 28
Art.28.1x The Organization shall take full advantage of the facilities of the Common Fund for Commodities.
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.