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Article 27 Overeenkomst tot oprichting van het Afrikaanse Ontwikkelingsfonds

Organization and management

(1) There shall be a Board of Directors composed of twelve directors.

(2) The State participants shall, pursuant to Schedule B, select six directors and six alternate directors.

(3) The Bank shall, pursuant to Schedule B, designate six directors and their alternates from the Board of Directors of the Bank.

(4) An alternate director of the Fund may attend all meetings of the Board of Directors but shall neither participate nor vote except in the absence of his principal.

(5) The Board of Directors shall invite the other directors of the Bank and their alternates to attend meetings of the Board of Directors as observers and any Bank director or, in his absence, his alternate may participate in the discussion of any proposed project designed to benefit the country which he represents in the Board of Directors of the Bank.

(6)

(a) A director designated by the Bank shall hold office until his successor shall have been designated pursuant to Schedule B and shall have assumed office. If a director designated by the Bank shall cease to be a director of the Bank he shall cease to be a director of the Fund.

(b) The term of office of directors selected by State participants shall be three years, but shall terminate whenever a general increase in subscriptions pursuant to Article 7 (1) becomes effective. Such directors shall be eligible for a further term or terms of office. They shall continue in office until their successors have been selected and have assumed office. If the office of such a director shall become vacant before the expiration of his term of office, the vacancy shall be filled by a new director selected by the State participant or participants whose votes his predecessor was entitled to cast. Such successor director shall hold office for the remainder of the term of office of his predecessor.

(c) While the office of a director remains vacant the alternate of the former director shall exercise the powers of the latter except that of appointing an alternate, other than a temporary alternate to represent him at meetings when he cannot be present.

(7) If a State shall become a State participant pursuant to Article 3 (3), or a State participant shall increase its subscription, or if for any other reason the voting rights of individual State participants should change between the times provided for the selection of directors representing State participants:

(i) There shall be no change in directors as a result thereof, provided that if a director shall cease to have any voting rights, his term of office and that of his alternate shall terminate forthwith.

(ii) Voting rights of State participants and of the directors selected by them shall be adjusted as of the effective date of the increase in subscription or the new subscription or other change in voting rights, as the case may be; and

(iii) If such a new State participant shall have voting rights, it may designate a director then representing one or more State participants to represent it and cast its votes until the next general selection of State participant directors.

(8) Directors and alternates shall serve as such without payment of remuneration or expenses by the Fund.

Regeling
Overeenkomst tot oprichting van het Afrikaanse Ontwikkelingsfonds
Soort
Verdrag
Geldend vanaf
04-07-2003
BWB-id
BWBV0003816
Versie
2003-07-04_0

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