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Arbitration (International Investment Disputes) Act 1966

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SECTION 2E+W+S+N.I.The Administrative Council

Article 4E+W+S+N.I.

(1) The Administrative Council shall be composed of one representative of each Contracting State. An alternate may act as representative in case of his principal’s absence from a meeting or inability to act.

(2) In the absence of a contrary designation, each governor and alternate governor of the Bank appointed by a Contracting State shall be ex officio its representative and its alternate respectively.

Article 5E+W+S+N.I.

The President of the Bank shall be ex officio Chairman of the Administrative Council (hereinafter called the Chairman) but shall have no vote. During his absence or inability to act and during any vacancy in the office of President of the Bank, the person for the time being acting as President shall act as Chairman of the Administrative Council.

Article 6E+W+S+N.I.

(1)Without prejudice to the powers and functions vested in it by other provisions of this Convention, the Administrative Council shall

(a)adopt the administrative and financial regulations of the Centre;

(b)adopt the rules of procedure for the institution of conciliation and arbitration proceedings;

(c)adopt the rules of procedure for conciliation and arbitration proceedings (hereinafter called the Conciliation Rules and the Arbitration Rules);

(d)approve arrangements with the Bank for the use of the Bank’s administrative facilities and services;

(e)determine the conditions of service of the Secretary-General and of any Deputy Secretary-General;

(f)adopt the annual budget of revenues and expenditures of the Centre;

(g)approve the annual report on the operation of the Centre.

The decisions referred to in sub-paragraphs (a), (b), (c) and (f) above shall be adopted by a majority of two-thirds of the members of the Administrative Council.

(2)The Administrative Council may appoint such committees as it considers necessary.

(3)The Administrative Council shall also exercise such other powers and perform such other functions as it shall determine to be necessary for the implementation of the provisions of this Convention.

Article 7E+W+S+N.I.

(1) The Administrative Council shall hold an annual meeting and such other meetings as may be determined by the Council, or convened by the Chairman, or convened by the Secretary-General at the request of not less than five members of the Council.

(2) Each member of the Administrative Council shall have one vote and, except as otherwise herein provided, all matters before the Council shall be decided by a majority of the votes cast.

(3) A quorum for any meeting of the Administrative Council shall be a majority of its members.

(4) The Administrative Council may establish, by a majority of two-thirds of its members, a procedure whereby the Chairman may seek a vote of the Council without convening a meeting of the Council. The vote shall be considered valid only if the majority of the members of the Council cast their votes within the time limit fixed by the said procedure.

Article 8E+W+S+N.I.

Members of the Administrative Council and the Chairman shall serve without remuneration from the Centre.

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