Artikel 31

(a). All the powers of the Agency shall be vested in the Council, except such powers as are, by the terms of this Convention, specifically conferred upon another organ of the Agency. The Council may delegate to the Board the exercise of any of its powers, except the power to:
(i) admit new members and determine the conditions of their admission;
(ii) suspend a member;
(iii) decide on any increase or decrease in the capital;
(iv) increase the limit of the aggregate amount of contingent liabilities pursuant to Section (a) of Article 22;
(v) designate a member as a developing member country pursuant to Section (c) of Article 3;
(vi) classify a new member as belonging to Category One or Category Two for voting purposes pursuant to Section (a) of Article 39 or reclassify an existing member for the same purposes;
(vii) determine the compensation of Directors and their Alternates;
(viii) cease operations and liquidate the Agency;
(ix) distribute assets to members upon liquidation; and
(x) amend this Convention, its Annexes and Schedules.
(b). The Council shall be composed of one Governor and one Alternate appointed by each member in such manner as it may determine. No Alternate may vote except in the absence of his principal. The Council shall select one of the Governors as Chairman.
(c). The Council shall hold an annual meeting and such other meetings as may be determined by the Council or called by the Board. The Board shall call a meeting of the Council whenever requested by five members or by members having twenty-five percent of the total voting power.