Contents
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VII. Administrative and financial matters
A.
Audited accounts
B.
Sale of contributions
C.
Change of assessment (1973)
D.
Allocation of cash surplus
E. Working capital fund: Level of fund and
reimbursement of withdrawal in 1974
F. Emoluments of the director-general
G. Integration of the credit union in FAO
H.
Status of contributions
I. Assessment of new member nations
J. Payment of contributions - Chad and
Dominican Republic
385. The Conference noted that during the 1974-75 biennium $800 000 of Regular Programme funds had been applied towards absorption of a deficit which had arisen on the UNDP Agency Coat Account in that biennium. The Conference was informed that such deficit had arisen because expenditure on the Regular Programme as well as on Agency Coat budgets had increased substantially in 1973 because of inflation and adverse exchange rate developments and that whilst it had not been possible to achieve economies in such a way that deficits in individual programmes could be avoided, the Organization had, on an overall basis managed to live within available resources. Attention was drawn to the useful work carried out by the Finance Committee in examining the Audited Accounts and it was suggested that this practice continue. With respect to the Auditor's comments on the Management Information System, the hope wee expressed that improvements could be made to allow the system to be a useful management tool.
386. The Conference accordingly approved such use of $800 000 of Regular Programme funds in the 1974-75 biennium.
387. The Conference adopted the following Resolution:
AUDITED ACCOUNTS
THE CONFERENCE,
Having considered the reports of the Sixty-Fourth and Sixty-Seventh Sessions of the Council,
Having examined the following audited accounts and the External Auditor's Reports thereon:
| Regular Programme 1972-73 | C 75/5 |
| United Nations Development Programme 1973 and 1974 | C 75/6 C 75/8 |
| World Food Programme 1973 and 1974 | C 75/7 C 75/9 |
Adopts the above audited accounts
(Adopted 26 November 1975)
Study on the basis of the FAO scale of contributions
Scale of contributions 1976-77
Scale of Contributions 1974-75
Study on the basis of the FAO scale of contributions
388. The Conference reviewed the study, undertaken by the Finance Committee at the request of the Seventeenth Session of the Conference of the basis of the FAO Scale of Contributions. It noted that the Council had generally concurred with the Committee's findings that the UN Scale of Assessments should govern the FAO Scale of Contributions. The Conference expressed its appreciation of the very thorough and detailed study made by the Committee.
389. The Conference considered the criteria on which the UN Scale was based and that these were founded on the principle that expenses should be apportioned amongst Member States broadly according to their relative capacity to pay. This was determined on the basis of various indicators which included national income per head of population, the ability of individual Members to secure foreign exchange and the proportion of their foreign earnings devoted to the servicing of external debts, as well as the adverse effects of catastrophic national disasters. The UN Scale also incorporated systematic downward adjustments which afforded relief to those Members with per capita income below US $1 500 per annum, with the greatest proportional relief, up to 60 percent, being given to those countries with the lowest per capita income. Further downward adjustments were also made as appropriate, in the case of the less developed of the developing countries.
390. In this connexion, it was recognized that the UN Committee on Contributions, in developing the Scale for submission to the General Assembly, followed specific directives of the General Assembly which the Assembly amended from time to time as found appropriate.
391. A number of delegates reaffirmed the decision of the Eighth Conference Session (1955) that "the United Nations Committee on Contributions is the most qualified body for assessing Member Governments' ability to pay as well as all the other factors entering into the computation of an equitable scale of contributions". Moreover, they stressed that the harmonization of scales of assessments of Organizations within the UN System, as was about to be achieved by all the major agencies, was desirable in order to avoid, inter alia, the duplication of the work of the UN Committee on Contributions as well as the various Secretariats. This policy of harmonization had been urged by the UN General Assembly on several occasions and any breakaway from it by FAO would have undesirable repercussions throughout the UN System.
392. Other delegates, however, pointed to the special role and responsibilities of FAO in relation to developing countries and suggested that the FAO Scale of Contributions should reflect this. They also maintained that individual Member Nations might experience serious financial difficulties which made special consideration desirable in order to facilitate their participation in the Organization's activities. In this connexion various suggestions were made including the possibility of reducing the rates of assessment of those developing countries least able to meet the costs of their membership in FAO.
393. Notwithstanding various reservations regarding the criteria established for the development of the UN Scale of Assessments and their application, the Conference concurred that it would be appropriate to continue to derive the FAO Scale from that of the United Nations.
394. In order that the views expressed during its discussion might be taken into consideration in the appropriate body, and thus contribute to the application of the most equitable criteria, the Conference requested the Director-General to transmit the Verbatim Record of the debate on this important matter to the Chairman of the UN Committee on Contributions.
Scale of contributions 1976-77
395. The Conference considered the request of the Government of the Republic of South Viet-Nam that its assessment for the 1976-77 biennium be established at the minimum rate of 0.02 percent compared to 0.08 percent for 1974-75.
396. The Conference recalled that the FAO rate of assessment established by the Seventeenth Conference Session for the Republic of Viet-Nam for 1974-75 (0.08 percent) had been derived directly from the rate of assessment approved by the UN General Assembly. for the Republic of Viet-Nam's contributions to certain UN activities in which it participated.
397. It was noted that as the Republic of South Viet-Nam was not a member of the United Nations, a modification of its rate in the FAO Scale of Contributions for 1976-77 did not infringe on the principle that the FAO Scale of Contributions should be based on that in force in the United Nations. The Conference noted in this respect that in dealing with the requests of any country for changes in its assessment, the request should normally he' directed first to the UN Committee on Contributions and that once a rate of assessment has been established by the General Assembly then FAO would be able to take action, as it had in the case of Bangladesh.
398. The Conference, recognizing the difficulties facing the Republic of South Viet-Nam, agreed that its rate of assessment in the FAO Scale for 1976-77 should be 0.02 percent.
399. The Conference also considered the request of the Government of Laos in which, in addition to asking that it be exempted from paying its outstanding contributions for 1973 ($15 864) and 1975 ($10 670), it expressed the hope that this exemption be extended for the next five years.
400. The Conference, recognizing the difficulties facing Laos, requested the Director-General to approach the Government with a view to encouraging the formulation of a proposal to the next session of the Conference for the settlement of Laos' financial obligations over a period of years, a procedure which had been accepted by the Conference in other situations where Member Nations faced exceptional problems in meeting their commitments.
401. In view of the foregoing, the Conference adopted the following resolution:
SCALE OF CONTRIBUTIONS 1976-77
THE CONFERENCE,
Having noted the recommendations of the Sixty-Sixth Session of the Council and the request of the Republic of South Viet-Nam, regarding its rate of assessment,
Considering that the FAO Scale of Contributions; should be based on the United Nations Scale of Assessments,
1. Decides to adopt for use in 1976-77 the Scale of Contributions set out in Appendix E which is derived directly from the United Nations Scale of Assessments as in force in 1975, except as provided for in paragraph 2 below:
2. Further decides that given the special situation of the Republic of South Viet-Nam, it shall be assessed in the FAO Scale of Contributions for 1976-77 at a rate of 0.02 percent,
(Adopted 26 November 1975)
Scale of Contributions 1974-75
402. The e Conference recalled that the rate of assessment of Bangladesh for 1974-75 established by the Seventeenth Session of the Conference, 0.11 percent, had been derived directly from the rate of assessment approved by the UN General Assembly of 0.10 percent for Bangladesh contributions to certain, UN activities in which it participated.
403. The Conference noted that after Bangladesh had been admitted to UN membership on 17 September 1974, the UN General Assembly had adopted at its Thirtieth Session a rate of assessment for Bangladesh of 0.08 percent.
404. It wee observed that if the rate of assessment for Bangladesh in the FAO Scale for 191475 had been derived directly from a UN rate of 0.08 percent instead of 0.10 percent, its FAO rate of assessment would have been 0.10 percent and not 0.13 percent.
405. The Conference decided that the Council, with the help of the Finance Committee, should examine, inter alia, the legal ant financial aspects of the matter, and should decide whether, in the circumstances, it would be appropriate for part of the contributions paid by Bangladesh for 1974 and 1975 to be refunded.
C. Change of assessment (1973)
406. The Conference, having considered the request of the Government of Pakistan with regard to its 1973 assessment, adopted the following Resolution:
CHANGE OF ASSESSMENT - 1973
THE CONFERENCE,
Noting the request of the Government of Pakistan to the effect that its assessed contribution for the year 1973 be reduced by the amount of contribution for that year payable by Bangladesh,
Noting also that the General Assembly of the United Nations at its Twenty-Eighth Session had adopted a Resolution whereby the contribution of Pakistan to the United Nations for 1973 had been reduced by the amount Bangladesh was called upon to contribute towards the 1973 expenses of the United Nations activities in which it participated,
Decides to reduce the amount of the contribution for 1973 assessed on Pakistan by $18 800, being the amount assessed on Bangladesh as its contribution for 1973.
(Adopted 26 November 1975)
407. The Conference noting that under Financial Regulation 6.1(b), its authority was needed to ensure that China, which had resumed its place in the Organization as of 1 April 1973, would have a share in the cash surplus of the 1972-73 biennium (not being included in the scale of contributions adopted by the Conference for that biennium), decided that there wee justification to allocate the 1972-73 cash surplus in a manner which would have the effect of reflecting the position that would have existed had China been included in the 1972-73 Scale of Contributions, for the period 1 April - 31 December 1973.
408. The Conference adopted the following Resolution:
ALLOCATION OF CASH SURPLUS
THE CONFERENCE,
Noting that Financial Regulation 6.1(b) provides that any cash surplus in the General Fund at the close of any financial period shall be allocated a non "Member Nations in accordance with the Scale of Contributions applicable to that period,
Noting that a cash surplus of $2 685 345 arose in the 1972-73 biennium, of which $2 595 290 was temporarily transferred to a Suspense Account established under Conference Resolution 6/73 to meet unbudgeted costs in 1974-75,
Noting that $1 487 250 of that surplus was due to the payment of its contribution for 1973 by a Nation having resumed its place in the Organization as of 1 April of that year,
Recognizing that had that Member Nation been included in the Scale of Contributions adopted for 1972-73, its rate of assessment and those of other Member Nations excluding the maximum and minimum contributors, would have been reduced,
1. Decides, notwithstanding Financial Regulation 6.1(b), to allocate among Member Nations included in the 1972-73 scale as well as the Member Nation which resumed its place in the Organization as of 1 April 1973, but excluding the maximum contributor and the minimum contributors, the sum of $1 487 250;
2. Further decides to allocate among Member Nations, according to Financial Regulation 6.1(b) the balance of the cash surplus remaining after allocation of the sum of $1 487 250 referred to above, except that the Member Nation which resumed its membership from 1 April 1973 shall also be allocated a share of that balance, proportionate to the part of the 1972-73 biennium, following the resumption of its place in the Organization.
(Adopted 26 November 1975)
E. Working capital fund: Level of fund and reimbursement of withdrawal in 1974
Authority for the director-general to undertake emergency action for the control of livestock diseases and to carry out initial control activities against the desert locust and other crop pests in emergencies
Increase in the level of the working capital fund
Authority to establish a new suspense account
Progress report on currency fluctuations
409. The Conference agreed to increase the existing authority to withdraw funds from the Norking Capital Fund for emergency action for the control of livestock diseases and to carry out initial control activities against the desert locust and other crop pests in emergencies, from $750 000 to $1 million.
410. The Conference stressed that an' withdrawals from the Fund under the Director-General 'a authority to undertake emergency action should be made on a reimbursable basis and that countries availing themselves of this provision should endeavour to reimburse the fund as soon as possible.
411. The Conference adopted the following Resolution:
AUTHORITY FOR THE DIRECTOR-GENERAL TO UNDERTAKE EMERGENCY ACTION FOR THE CONTROL OF LIVESTOCK DISEASES AND TO CARRY OUT INITIAL CONTROL ACTIVITIES AGAINST THE DESERT LOCUST AND OTHER CROP PESTS IN EMERGENCIES
THE CONFERENCE,
Recalling its Resolution 17/69, whereby it had authorized the Director-General to withdraw up to $750 000 from the Working Capital Fund,
(a) to finance initial emergency measures for the control of outbreak of livestock diseases under emergency circumstances which constitute a potential epizootic threat to livestock of other countries; and
(b) to finance initial control activities against the desert locust in emergencies, provided that not more than $500 000 may be withdrawn in any one biennium under either of the above headings,
Having examined the proposal endorsed by the Council that in the light of rising costs the authority to withdraw funds from the Working Capital Fund be increased to $1 million,
Concurring in the proposal likewise endorsed by the Council that the authority to withdraw funds for initial control activities against the desert locust in emergencies be extended to cover also other migratory or introduced crop pests creating a major potential threat,
1. Authorizes the Director-General with effect from 1 July 1976 to withdraw up to $1 million from the Working Capital Fund:
(a) to finance initial emergency measures for the control of outbreak of livestock diseases under emergency circumstances which constitute a potential epizootic threat to livestock of other countries;
(b) to finance initial control activities against locusts and other migratory or introduced crop pests creating a major potential threat; after consultation with the Chairman of the Finance Committee or another member of that Committee designated by him and in the light of the recommendations of the pertinent Advisory Panels of technical experts established under Conference Resolutions 35/65 and 17/69 provided that not more than $700 000 may be withdrawn in any one biennium under either of the above headings;
(Adopted 26 November 1975)
Increase in the level of the working capital fund
412. The Conference noted that withdrawals made from the Working Capital Fund during the last ten years had not been large at any time, but recognized that experience in past years might not necessarily set a pattern for the future. The Conference noted in this respect that in 1975 the rate of collection of contributions during the first nine months bad seriously deteriorated as compared with that in previous years and that the Working Capital Fund at its increased level would cover just one average month's expenditure under the proposed 1976-77 Programme of Work and Budget.
413. Although many Mender Nations questioned the need for an increase in the level of the Working Capital. Fund, the Conference agreed that the level of the Fund be increased from $4.5 million to $6.5 million as from 1 July 1976.
414. The Conference adopted the following Resolution:
INCREASE IN THE LEVEL OF THE WORKING CAPITAL FUND
THE CONFERENCE,
Recalling its Resolution 34/65, by which the level of the Working Capital Fund was fixed at $4.5 million,
Also recalling its Resolution 33/75, by which the Director-General was authorized to withdraw up to $1 million from the Working Capital Fund for financing initial emergency measures for the control of livestock diseases and desert locusts,
Conscious of the need to conserve an essential minimum relationship between the level of the Working Capital Fund and the level of the Budget, in order to safeguard the financial liquidity of the Organization,
Noting that the Council, at its Sixty-Seventh Session, concurred in the recommendations made by the Finance Committee at its Thirty-Fifth Session to the effect that the level of the Working Capital Fund be increased to $6.5 million,
Noting further that if Member Nations pay their contributions in good time, there will he a cash surplus in the 1974-75 biennium, which could be used to the extent necessary to fund such increase,
Decides that as from 1 July 1976 the authorized level of the Working Capital Fund shall be $6.5 million and that:
(a) Member Nations shall be reassessed in accordance with the provisions of Financial Regulation 6.2(b)(iv) and on the basis of the Scale of Contributions for 1976-77;
(b) such reassessment shall take place as from 1 July 1976 notwithstanding the provisions of Financial Regulation 6.2 (b) (v);
(c) such portion of each Member Nation's share in any 1974-75 cash surplus as needs to be withheld to bring up its advance to the Working Capital Fund after reassessment to the required level, shall be applied toward such advance as of 1 July 1976, notwithstanding the provisions of Financial Regulation 6.1(b);
(d) any excess credits on reassessment due to Member Nations shall be released on 1 January 1977, notwithstanding Financial Regulation 6.2(b) (vi);
(e) the balance of the 1972-73 cash surplus of $90 055 shall be withheld, notwithstanding Financial Regulation 6.1(b), until 1 January 1977, when it shall be released along with any excess credits due to Member Nations.
(Adopted 26 November 1975)
Authority to establish a new suspense account
415. The Conference noted that the Report to the UN General Assembly of its Working Group on Currency Instability indicated that the Group had not been able to recommend any protective measure or set of protective measures to meet the specific needs of the United Nations or Specialized Agencies, stemming from currency instability and inflation.
416. The Conference also noted the continuing wide fluctuations in the exchange rate of the Italian Lira to the US dollar in 1974-75. The Conference therefore agreed that the Director General should be authorized to establish a new Suspense Account in 1976-77 to help protect the Organization's programme against adverse effects of currency fluctuations in that biennium.
417. The Conference considered that the Suspense Account should not be wed for any purpose other than meeting additional costs arising from adverse movements in the exchange rate of the Italian Lira against the U.S. dollar, and to loan money to the Working Capital Fund to finance budgetary expenditure pending receipt of contributions to the budget were the Working Capital Fund to prove insufficient for this purpose.
418. The Conference adopted the following Resolution:
AUTHORITY TO ESTABLISH A NEW SUSPENSE ACCOUNT
THE CONFERENCE,
Aware of the possible impact on the Organization's Programmes of Work and Budget for 1976-77 of unbudgeted extra costs should there be adverse movements in currency exchange rates,
Having considered the recommendation of the Council at its Sixty-Seventh Session as regards measures to assist in the financing of unbudgeted extra coats as may have to be met during the 1976-77 biennium as a result of fluctuations of the lira exchange rate against the U.S. dollar,
Conscious of the need to ensure that adequate cash resources are available to the Organization to finance the Programme of Work approved by the Conference for 1976-77,
1. Decides to establish a Suspense Account as of 1 January 1976 to assist in protecting the Organization against the effects of adverse currency fluctuations;
2. Directs the Director-General to credit in 1976-77 savings on staff coats arising from favourable differences between the lira exchange rate wed in calculating the budget and the effective UN rate in the 1976-77 biennium to such Suspense Account, using an appropriate statistical formula for the purpose;
3. Authorizes the Director-General, after prior review by the Finance Committee, to charge additional staff costs arising from adverse differences between the firs exchange rate used in calculating the budget and the effective UN rate in the 1976-77 biennium to such Suspense Account using the same statistical formula referred to in paragraph 2 above;
Noting that if Member Nations pay their contributions in good time there will be a substantial cash surplus in the 197475 biennium which could be used, after having first increased the Working Capital Fund (Resolution 34/75), to fund the Suspense Account;
4. Therefore authorizes the Director-General, notwithstanding the provisions of Financial Regulation 6.1(b), to transfer from the balance of such cash surplus the funds necessary to bring the amount of the Suspense Account up to $2 million as at 1 January 1976, should currency savings, credited to the Account up to that date under paragraph 2 above, not have already provided that sum;
5. Further authorizes the Director-General in the event that an adequate cash surplus should not arise, notwithstanding Financial Regulation 6.1(a), to apply to the Suspense Account after having increased the Working Capital Fund under Resolution 34/75 and on the basis of the 1974-75 Scale of Contributions, any sums received in 1976-77 in payment of arrears of contributions due for previous biennia, up to a total amount of $2 million;
6. Also authorizes the Director-General to loan funds in the Suspense Account to the General Fund to finance budgetary expenditure pending receipt of contributions to the budget whenever the Working Fund is insufficient for this purpose, such loans to be repaid as soon as adequate contributions are received;
7. Further decides that at the end of 1977 the Suspense Account shall be closed and any unused portion transferred to the General Fund.
(Adopted 26 November 1975)
Progress report on currency fluctuations
419. The Conference noted that the Organization had been obliged to incur considerable additional expenditures in the course of the biennium. In addition to programme and financial adjustments, mainly for preparation and follow-up of the World Food Conference, the Organization had been faced with considerable unbudgeted inflationary costs and additional cost increases, especially during 1975.
420. In consultation with the Programme and Finance Committees and the Council, the Director General had introduced measures to obtain programme savings. On the basis of estimates that could be made at the present time of total programme expenditures, cost increases and currency savings, it appeared that programme savings of about $3.2 million had already been achieved; it would be necessary to call upon the full amount of the currency savings, amounting to some $5.3 million. It would be necessary to use some $500 000 from this sum in order to reimburse the Working Capital Fund for advances toward the cost of preparation of the World Food Conference. This would leave a balance of $4.8 million available to cover unbudgeted inflationary costs and, on the basis of present indications, it appeared that it would be necessary to withdraw $1.2 million from the portion of the Suspense Account (totalling $2 million) assigned to cover unbudgeted inflationary costs.
421. The Conference noted that the Council had endorsed the proposed use of currency savings and the Suspense Account as outlined above, and authorized the Director-General:
(a) to use $500 000 of currency savings to reimburse the Working Capital Fund;
(b) to use all remaining currency savings accruing by 31 December 1975 to meet unbudgeted inflationary costs;
(c) to draw on the Suspense Account established in 1974-76 to cover the remaining unbudgeted inflationary costs.
F. Emoluments of the director-general
422. The Conference adopted the following Resolution:
SALARY OF THE DIRECTOR-GENERAL
THE CONFERENCE,
Having noted that the UN General Assembly decided to increase the salaries of Professional, Director and Assistant Director-General categories by 6 percent effective 1 January 1975, that the FAO Council had decided to adjust those salaries accordingly, and that the FAO Conference had not considered such a development at its session of November 1973,
Authorizes that the annual salary of the Director-General be retroactively adjusted from 1 January 1975 to the following amounts: net salary US $44 000, gross equivalent US $74 800, Post Adjustment for one class amounts to US $1 760 at dependency rate or US $1 173 at single rate.
(Adopted 26 November 1975)
G. Integration of the credit union in FAO
423. The Conference noted that the Finance Committee 31 and the Committee on Constitutional and Legal Matters , as well as the Council at its Sixty-Sixth and Silxty-Seventh Sessions had considered the question of the integration of the Credit Union in FAO.
424. The Conference endorsed the recommendations of the Council and adopted the following Resolution:
FAO CREDIT UNION
THE CONFERENCE,
Noting that a Credit Union has for some time made a considerable contribution to the general welfare of FAO staff members by providing them with a convenient means of saving and a source of credit,
Noting further that it was desirable for the legal status of the Credit Union to be clarified and that this could best be achieved by making the Credit Union an integral part of FAO,
Having examined the recommendations made by the Council at its Sixty-Sixth Session,
1. Decides that the Credit Union shall become an integral part of FAO provided that:
(a) the Credit Union's funds and net assets shall be placed in a special account to be administered separately from all other funds and assets administered by FAO;
(b) all costs incurred in the operation of the Credit Union and any financial liabilities, including bad debts and losses, arising out of the Credit Union's activities shall be chargeable to the Credit Union's funds and assets;
(c) the Statutes of the Credit Union contain provisions safeguarding the position of the Organization as set forth in the Annex to this Resolution;
Annex to Resolution 37/75
1. All amendments to the Statutes shall require the approval of the Director-General.
2. The Director-General shall be represented on the Board of Directors of the Credit Union. The Director-General's representative shall have the right of requiring deferment of the implementation of any decision taken by the Board of Directors when> in his opinion, such decision contravened regulations, rules, policies or procedures of the Organization. The Director-General would make a determination on the implementation of such decisions.
3. The Director-General shall have the right to order corrective action, within a period specified by him, if he considers that the Credit Union was conducting its affairs in a manner that adversely affected the interests of the Organization. In the absence of such corrective action, the Director-General shall be empowered to appoint a liquidator to wind up the affairs of the Credit Union.
4. The accounts of the Credit Union shall be subject to external and internal audit in the manner prescribed by the Financial Regulations of the Organization, and the audited accounts shall be submitted to the Director-General and be made available to the Finance Committee for such action as deemed appropriate.
(Adopted 26 November 1975)
425. The Conference noted from the Report of the Sixty-Seventh Council Session that a serious deterioration in the rate of collection of current contributions had taken place during the first nine months of 1975,, But that subsequently there had been a very substantial improvement. As a consequence it had not been necessary for the Director-General to seek a borrowing authority from the Council as previously envisaged by the Director-General and the Finance Committee.
426. Although the present situation no longer necessitated the borrowing of funds to overcome temporary cash shortages, the Conference, recognizing the need to avoid financial difficulties in future, appealed to all Member Nations to arrange for the early payment of assessments in 1976 and. 1977.
I. Assessment of new member nations
427. In accordance with the provisions of Article XVIII-3 of the Constitution, Rule XIX-3 GRO and Financial Regulation 5.8, the Conference decided that the contribution for 1975 to be paid by the newly admitted Member Nations (Bahamas, Cape Verde, Grenada, Papua New Guinea sod Surinam) would be $ 2 650 each and that the advance due from each of them to the Working Capital Fund in accordance with Financial Regulation 6.2 (b)(ii) would be $ 900, based on the present level of the Fund of $ 4.5 million.
J. Payment of contributions - Chad and Dominican Republic
428. The Conference considered the proposals of the Government of Chad and the Dominican Republic that they liquidate their outstanding contributions over a ten-year period in addition to paying each current contribution in the calendar year of assessment, commencing in 1975.
429. The Conference adopted the following resolutions:
PAYMENT OF CONTRIBUTIONS - CHAD
THE CONFERENCE,
Noting that the Government of Chad had made a proposal that it liquidate its arrears of contributions over a period of ten years in addition to paying each current contribution in the calendar year of assessment commencing in 1975,
Decides that:
1. Notwithstanding Financial Regulation 5.5 Chad's arrears of contributions totalling $ 37 640 shall be settled through the payment of ten equal annual instalments of $ 3 764;
2. The first installment together with the contribution assessed for 1975 shall be payable in 1975;
3. The annual payment of the instalments referred to above, together with the payment of each current contribution in the calendar year of assessment and any advances to the Working Capital Fund, shall be considered as fulfilment of Chard's financial obligations to the Organization.
(Adopted 8 November 1975)
PAYMENT OF CONTRIBUTIONS - DOMINICAN REPUBLIC
THE CONFERENCE,
Noting that the Government of the Dominican Republic had made a proposal that it liquidate its arrears of contributions over a period of ten years in addition to paying each current contribution in the calendar year of assessment commencing in 1975,
Decides that:
1. Notwithstanding Financial Regulation 5.5, the Dominican Republic's arrears of contributions totalling $ 99 352.00 shall be settled through the payment of ten equal annual instalments of $ 9 935.20;
2. The first installment together with the contribution assessed for 1975 shall be payable in 1975;
3. The annual payment of the installments referred to above, together with the payment of each current contribution in the calendar year of assessment and any advances to the Working Capital Fund, shall be considered as fulfillment of the Dominican Republic's financial obligations to the Organization.
(Adopted 8 November 1975)
Contents
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