Statuut van het Vestigingsfonds van de Raad van Europa

A Council of Europe Resettlement Fund (hereinafter called “the Fund”) shall be established.
The Fund shall be attached to the Council of Europe and administered under its supreme authority.

The purpose of the Fund is to help in solving the problems with which European countries are or may be faced as a result of the presence of surplus elements of population, including national refugees, by providing or guaranteeing loans to finance:
(a) absorption programmes approved by a Member of the Fund in accordance with Article VI of the present Articles of Agreement, designed to create new opportunities of employment for such persons;
(b) resettlement programmes approved by a Member of the Fund providing for loans to or expenditure for the benefit of persons residing in Europe who seek resettlement in a European or extra-European country and who shall undertake to repay the amount of such loans or expenditure insofar as they are financed by the Fund.

Member Governments of the Council of Europe may become members of the Fund in accordance with the provisions of Article IV, Section 2 (a) (i). Other Governments admitted to membership by the Fund may become members of the Fund upon such special conditions as the Fund may prescribe in each case, in accordance with the provisions of Article IV, Section 2 (a) (ii).

Section 1. - Participating Certificates
The Fund shall issue for subscription by its members participating certificates, expressed in terms of a single currency by way of common denominator. Members shall pay their subscriptions in their national currency, at the official rate of exchange in effect at the time of subscription.
Section 2. - Subscriptions
(a) Each Member shall subscribe a certain number of participating certificates: (i) The number of participating certificates placed at the disposal of each Member State of the Council of Europe is fixed in accordance with the table appended to the present Articles of Agreement. Each member of the Fund shall subscribe as many participating certificates as it wishes, but shall not initially take up less than one quarter of such certificates placed at its disposal.
(ii) The number of participating certificates to be allocated to other Members shall be fixed by agreement with the Governing Body of the Fund in accordance with Article IX para. (e) of the present Articles of Agreement.
(i) The number of participating certificates placed at the disposal of each Member State of the Council of Europe is fixed in accordance with the table appended to the present Articles of Agreement. Each member of the Fund shall subscribe as many participating certificates as it wishes, but shall not initially take up less than one quarter of such certificates placed at its disposal.
(ii) The number of participating certificates to be allocated to other Members shall be fixed by agreement with the Governing Body of the Fund in accordance with Article IX para. (e) of the present Articles of Agreement.
(b) Each member shall pay in at least twenty-five per cent (25 %) of the subscription price of the participating certificates subscribed by it promptly upon becoming a member; and the balance shall be paid in accordance with Article IX, para. (c).
Section 3. - Maintenance of Value of Subscriptions
Whenever the par value of a member's currency is reduced or the foreign exchange value of such currency has depreciated to a significant extent, the Member shall pay to the Fund within a reasonable time an additional amount of its own currency sufficient to maintain the value, as of the time of subscription, of the subscription by the member of participating certificates of the Fund.
Section 4. - Limitation of Liability
No Member shall be liable to third parties for any obligation of the Fund.

Section 1. - Decisions reserved to Members
The Governing Body, representing the Members of the Fund, shall have sole authority:
(a) to determine the single currency (by way of common denominator) and the nominal value of the participating certificates;
(b) to determine the terms upon which the Fund will accept contributions or borrow funds and the rights to be granted, including their rights in respect of the Fund's assets, to contributors or lenders to the Fund;
(c) to fix the dates on which calls are to be made upon the unpaid balance of participating certificates subscribed, according to the requirements of the Fund for carrying out its stated aims;
(d) to determine the operating policies of the Fund;
(e) to authorise Governments other than Member Governments of the Council of Europe to join the Fund, to lay down conditions for their admission and to determine the number of participating certificates to be subscribed by such Governments;
(f) to appoint the Governor, revoke his appointment and accept his resignation;
(g) to recommend the international or other legislative measures to be adopted by Members, in order to define such matters as the special arrangements governing assets or property held by the Fund in their territory or in the territory of third States and the obligations of Members arising from special operations of the Fund;
(h) to amend these Articles, without, however, making any change in their stated aims;
(i) to interpret these Articles of Agreement;
(j) to suspend permanently the operations of the Fund and to distribute its assets;
(k) to draw up Rules of Procedure and to designate its Chairman;
(l) to nominate the three auditors who shall constitute the Auditing Board.
Section 2. - Voting
(a) The decisions reserved to Members of the Fund shall be taken by votes cast either orally at meetings or in writing between meetings.
(b) Each Member of the Fund shall have one vote for each participating certificate held by it.

For uses not inconsistent with its purpose, the Fund may accept contributions. It may also borrow funds.
The Fund is empowered to receive contributions offered for specific purposes which come within its stated aims.

Section 1. - Forms of Loans
Loans made by the Fund shall be in one of the following forms:
(i) loans to Member Governments of the Fund;
(ii) loans guaranteed by a Member Government of the Fund granted to any legal person approved by that Member;
(iii) loans guaranteed by a Member Government of the Fund and granted to migrants through the intermediary of the member or of any legal person approved by that member;
(iv) loans granted to any legal person approved by a Member Government of the Fund, when the Administrative Council is satisfied that the loan requested is covered by adequate guarantees and fulfils the requirements laid down in Section 3 below with regard to the loans mentioned in paragraphs (i), (ii) and (iii) of the present Section.1)Provision adopted at the third meeting of the Governing Body (Fonds/CD PV 3 (1957))
Section 2. - Guarantees
The Fund may grant its guarantee for transactions arising from the realisation of the aims set out in Article II, conditions to be determined for each particular case.
Section 3. - Obligations of Borrower or Guarantor
(a) The obligations of Member Governments of the Fund under loans granted pursuant to Section 1 (i) of this Article and the guarantees of Member Governments of the Fund under Section 1 (ii) and 1 (iii) of this Article must in each case be an unconditional promise: (i) to repay, within a specified period, a specified sum expressed in a specified currency, and
(ii) to pay interest and, where necessary, a commission in respect of the specified sum, at a specified rate, at specified intervals and beginning on a specified date.
(i) to repay, within a specified period, a specified sum expressed in a specified currency, and
(ii) to pay interest and, where necessary, a commission in respect of the specified sum, at a specified rate, at specified intervals and beginning on a specified date.
(b) In determining the currencies in which obligations of Member Governments of the Fund, whether borrowers or guarantors, shall be expressed, the Fund shall seek to maintain a balance in amounts and currencies between its assets, including such obligations, and the subscription prices paid by its members, including any payments pursuant to Article IV, Section 3.
Section 4. - Subrogation
In the loan contracts guaranteed in accordance with Section 1 (ii) and 1 (iii) of this Article, it shall be laid down that the guarantor, upon satisfying its obligation to the Fund under the guarantee, shall be subrogated to the corresponding claims of the Fund against the principal borrower or borrowers.
Section 5. - Supporting Statements by Members
In support of applications for loans to be granted in connection with resettlement or absorption programmes, the Fund shall receive a statement by a Member that:
(i) it approves the programmes;
(ii) it believes that the programme will result in the successful resettlement or absorption of persons resident in the European territory of the member;
(iii) it believes that the funds to be supplied by the Fund are not available upon reasonable terms from any other source.
Section 6. - Supporting Information
The Administrative Council referred to in Article X of these Regulations shall determine what information and pledges a borrower shall be required to furnish in support of its application.

Section 1. - Temporary Investments
Pending its first use of the funds subscribed by a State, the Fund may invest in Treasury Bills or other securities issued and guaranteed by that State.
In making investments the Administrative Council shall take expert advice.
Section 2. - Accumulation and investment of Surplus
The Fund's surplus resulting from an excess of receipts on account of interest and commissions, or any part thereof, may be accumulated and invested in a manner to be determined by the Administrative Council.

The organisation, administration and supervision of the Fund shall be divided between the following:
- the Governing Body,
- the Administrative Council,
- the Governor,
- the Auditing Board,
as provided in the succeeding Articles.

Section 1. - Decisions reserved to the Administrative Council
The Administrative Council shall have all the necessary powers to administer the Fund. It shall take decisions for such purposes as the following:
(a) to determine from time to time what portion of the Fund's surplus, if any, shall be accumulated and invested pursuant to the provisions of Article VII, Section 2;
(b) to approve the operating budget of the Fund on the principle that operating expenses may not exceed receipts on account of interest and commissions;
(c) to give to the Governor specific or general directives;
(d) to establish Rules of Procedure for the Fund and, in particular, the terms on which loans shall be granted or guaranteed;
(e) to transmit each year to the Special Representative, for submission to the Committee of Ministers, the report of the Governor of the Fund.
Section 2. - Composition of the Administrative Council
(a) The Administrative Council shall consist of a Chairman appointed by the Governing Body, together with one representative of each Member of the Fund. Each representative on the Administrative Council shall have a number of votes equal to the number of participating certificates held by the Member he represents.
(b) The Administrative Council may invite representatives of the international and inter-governmental organisations concerned to participate without vote in its proceedings.
Section 3. - Term of office of members of the Administrative Council
Appointments of members of the Administrative Council shall continue until revoked by the Member of the Fund which has appointed him. Retiring members of the Council are always eligible for re-appointment or re-election.
Section 4. - Method of decision by the Administrative Council
(a) The Administrative Council shall be convened by its Chairman. It shall meet whenever the necessity arises and at least once each quarter;
(b) The decisions of the Administrative Council shall be taken by a majority of the votes cast by members present. Two-thirds of its members shall constitute a quorum, failing which the deliberations of the Council shall be invalid.
Section 5. - Committees of the Administrative Council
The Administrative Council may from time to time appoint Committees from among its members and delegate to such Committees powers to be specified in each particular case.
Section 6. - Compensation of members of the Administrative Council
Members of the Administrative Council shall serve without compensation from the Fund, but their reasonable expenses incurred in performing their functions as members of the Administrative Council shall be reimbursed by the Fund.

Section 1. - Functions of the Governor
The Governor shall conduct the current administration of the Fund under the instructions and supervision of the Administrative Council.
He shall represent the Fund in all its transactions. He shall not contract any financial obligations, in accordance with the terms of Articles V and VI of the Articles of Agreement, without the express authorisation of the Administrative Council.
He shall incur administrative expenses within the limits of the budgetary credits allocated to him.
He shall take all necessary steps to keep these expenses at a strict minimum. In particular, he shall avail himself of such services as may be offered by the Council of Europe, in dealing with financial matters he shall enlist the co-operation of the central banks of the Members and the Bank for International Settlements, and, in dealing with problems incidental to resettlement and absorption of surplus population, that of agencies and individuals experienced in the field.
He shall hold the property and assets of the Fund and shall keep adequate accounts.
Section 2. - Reports to the Administrative Council
The Governor shall submit to the Administrative Council regular reports on the position of the Fund and on proposed operations and shall supply it with any information it may request.
The Governor shall draw up a full annual report on all operations effected throughout the year.
This report shall be accompanied by the balance-sheet of the Fund and the operational accounts, together with the Auditors' Report on these documents.
Section 3. - Appointment and Salary of the Governor
The Governor shall be appointed for a period of 3 years and may be re-elected on the expiry of his term of office. The amount of his salary shall be fixed by the Administrative Council.

The Auditing Board shall annually inspect the Fund's accounts and verify that the operational accounts and balance-sheet are in order.
The auditors' report shall state whether the balance-sheet and operational accounts are in agreement with the books and whether they give a true and fair picture of the state of the Fund's affairs as at the end of each financial period.

The principal office of the Fund shall be at Strasbourg, France. The headquarters of the operational services shall be decided by the Administrative Council.

Section 1. - Suspension of Operations
Should the Governing Body decide upon the suspension of operations the Fund shall forthwith cease all activities except those incidental to the settlement of its obligations and the orderly realisation, conservation and preservation of its assets.
Section 2. - Withdrawal of Members
Any Member may withdraw from the Fund on giving notice of six months prior to the end of the current financial year. The conditions for this shall be laid down by the Governing Body.
Section 3. - Liquidation of the Fund
After all liabilities of the Fund, including satisfaction of rights upon distribution which may previously have been granted by the Fund upon accepting contributions under Article V, have been discharged or provided for, the Members of the Fund may adopt a plan for the distribution of assets which shall be based on the following principles.
(a) No member of the Fund against which the Fund has an unsatisfied claim shall be eligible to participate in the distribution under the plan until it has regularised its position.
(b) If the Fund's net assets permit, each Member of the Fund shall receive as a distributive share the amount it paid under Article IV in the same currency or, if that should not be possible, the equivalent as of the time of distribution in other currencies. Should the extent of the Fund's net assets not permit the full return of such distributed shares, any possible deficit shall be shared by all Members of the Fund in the same proportion.
(c) Any excess of the Fund's net assets over the aggregate total of such distributed shares shall be allotted to all Members of the Fund in proportion to the number of participating certificates held by each.
(d) To the extent that these distributed shares are paid to any Members of the Fund in the currencies of other Members of the Fund, the latter shall take the necessary steps to ensure, in accordance with the procedure provided for under their exchange regulations, transactions involving the amounts thus distributed.

Section 1. - Organisational meeting
As soon as the present Articles of Agreement have been adopted by virtue of a Resolution of the Committee of Ministers on the basis of a Partial Agreement, the Secretary General of the Council of Europe shall, in agreement with the Special Representative, call the first meeting of the Governing Body which shall take all necessary or desirable steps to organise the Fund in conformity with the present Articles of Agreement.
Section 2. - Notification of the beginning of operation
The Governor shall notify Members of the Fund of the date on which the Fund will be ready to begin its operations.
Section 3. - Membership
(a) Any Member of the Council of Europe who is not a member of the Fund may join the Fund by addressing a declaration to this effect to the Committee of Ministers. In this declaration the new Member Government shall signify its acceptance of the present Articles and Agreement and subscribe the number of participating certificates determined in agreement with the Governing Body, in accordance with Article IV of the present Articles of Agreement.
(b) Any Government which is not a Member of the Council of Europe and which, pursuant to Section 1, paragraph (e) of Article IX, has been allowed to join the Fund, may do so by depositing with the Secretary General of the Council an instrument to the effect that it accepts the present Articles of Agreement, that it subscribes the number of participating certificates determined in agreement with the Governing Body, that in accordance with Article IV of the present Articles of Agreement it has taken all necessary steps to ensure that it can fulfil all the obligations arising from the present Articles of Agreement and that it has fulfilled all the conditions for admission laid down by the Governing Body.
(c) The Secretary General of the Council of Europe shall notify the Governor and all the Members of the Fund of the reception of any declaration of accession by a new Member and the deposition of any instrument of accession made in application of the preceding paragraphs.
Section 4. - Interpretation of the present Articles of Agreement
Any decision of the Administrative Council involving the interpretation of the present Articles of Agreement may be referred to the Governing Body at the request of any Member; the decision of the Governing Body shall be final. Until such time as the Governing Body has made a ruling, the Fund may, to the extent it deems it necessary act on the basis of the decision of the Administrative Council.
Section 5. - Certified Copy
The Secretary General of the Council of Europe shall communicate a certified copy of the present Articles of Agreement to every Member of the Council and to every non-member Government which has joined the Fund.