BWBV0005105
Geldig vanaf 08-08-1978
Artikel XIV
Statuut van het Vestigingsfonds van de Raad van Europa
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.
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.
- Citeren als
- Art. XIV
- Geldig vanaf
- Status
- Geldend recht
- Identificatie
- BWBV0005105
- Officiële bron
- wetten.overheid.nl