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Article 35 Overeenkomst tot instelling van het Gemeenschappelijk Fonds voor Grondstoffen

SUSPENSION AND TERMINATION OF OPERATIONS AND SETTLEMENT OF OBLIGATIONS

1 The Executive Board shall make such arrangements as are necessary to ensure the orderly realization of the Fund's assets. Before making any payments to creditors holding direct claims, the Executive Board shall, by a Qualified Majority, make such reserves or arrangements as are necessary, in its sole judgement, to ensure a distribution to holders of contingent claims pro rata with creditors holding direct claims.

2 No distribution of assets shall be made in accordance with this chapter until:

a) All liabilities of the Account in question have been discharged or provided for; and

b) The Governing Council has decided to make a distribution by a Qualified Majority.

3 Following a decision of the Governing Council under paragraph 2 (b) of this article, the Executive Board shall make successive distributions of any remaining assets of the Account in question until all such assets have been distributed.

Regeling
Overeenkomst tot instelling van het Gemeenschappelijk Fonds voor Grondstoffen
Soort
Verdrag
Geldend vanaf
10-01-2016
BWB-id
BWBV0003602
Versie
2016-01-10_0

In de hele regeling · Officiële tekst op wetten.overheid.nl