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Article 31 Overeenkomst tot instelling van het Gemeenschappelijk Fonds voor Grondstoffen

WITHDRAWAL AND SUSPENSION OF MEMBERSHIP

1 If a Member fails to fulfil any of its financial obligations to the Fund, the Governing Council may, except as provided for in article 34, paragraph 2, by a Qualified Majority, suspend its membership. The Member so suspended shall automatically cease to be a Member one year from the date of its suspension, unless the Governing Council decides to extend the suspension for a further period of one year.

2 When the Governing Council is satisfied that the suspended Member has fulfilled its financial obligations to the Fund, the Council shall restore the Member to good standing.

3 While under suspension, a Member shall not be entitled to exercise any rights under this Agreement, except the right of withdrawal and to arbitration during the termination of the Fund's operations, but shall remain subject to compliance with all its obligations under this Agreement.

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