 Regulation
i - Applicability |
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- These regulations shall govern the financial administration
of the Indian Ocean Tuna Commission.
- The financial rules and procedures of FAO shall
apply to the activities of the Commission for matters
not covered by these Regulations.
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| Regulation
II - The Financial Period |
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The financial period shall be one calendar year.
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| Regulation
III - The Budget |
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- The Budget Estimates shall be prepared by the Secretary
of the Commission and shall be circulated to all Members
of the Commission not less than 60 days before each
regular session.
- The Budget Estimates shall cover income and expenditures
for the financial period to which they relate, and
shall be presented in United States dollars.
- The Budget Estimates shall reflect the programme
of work for the financial period elaborated by appropriate
information and data, and shall include the programme
of work and such other information, annexes or explanatory
statements as may be requested by the Commission.
- The Budget shall comprise:
(a) The Administrative Budget referred to in paragraph
5 relating to the regular contributions of Members
of the Commission payable under Article XIII.1 of
the Agreement for the Establishment of the Indian
Ocean Tuna Commission and expenditures chargeable
to the budget of the Commission under Article VIII,
paragraphs 3 and 4: The Administrative Budget shall
reflect in an appropriate manner the expenses to be
borne by FAO under Article VIII, paragraph 3;
(b) The Special Budgets relating to funds made available
during the financial period from donations and other
forms of assistance received from organizations, individuals
and other sources under Article XIII, paragraph 6.
- The Administrative Budget for the financial period
shall consist of provisions for:
- Administrative Expenditures, including an
amount to cover the OrganizationÕs costs equal to
4.5% of the total Budget of the Commission.
- Expenditure for the activities of the Commission.
Estimates under this chapter may be presented in a
single total only but detailed estimates for each
particular project will be prepared and approved as
"supplementary details" of the Administrative
Budget.
- Contingencies.
- The Administrative Budget shall be adopted by the
Commission with such amendments as the Commission
may deem necessary.
- Special Budgets may be adopted by the Commission
in exceptional circumstances as appropriate.
- The Administrative Budget of the Commission shall
be submitted to the Finance Committee of the Organization
for its information.
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| Regulation
IV - Appropriations |
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- After the budgets have been adopted the appropriations
therein shall constitute be the authority for the
Commission to incur obligations and make payments
for the purposes for which the appropriations were
voted and up to the amounts so voted.
- In cases of emergency, the Commission is authorized
to accept additional contributions from a Member
or Members of the Commission or grants from other
sources and incur expenditure against them for emergency
action for which the said contributions or grants
were specifically provided. Such contributions
or grants and expenditure relating thereto will be
reported in detail to the next session of the Commission.
- Any unliquidated prior year obligation shall be
cancelled or where an obligation remains a valid charge,
transferred against current appropriations.
- Transfers between provisions as per Regulation 3.5
may be effected by the Commission on the recommendation
of the Secretary of the Commission.
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| Regulation
V - Provision of Funds |
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- The appropriations of the Administrative Budget
shall be financed by contributions from Members of
the Commission determined and payable in accordance
with Article XIII paragraphs 1, 3 and 4 of the Agreement.
Pending receipt of annual contributions, the Commission
is authorized to finance budgeted expenditure from
the uncommitted balance of the Administrative Budget.
- Before the beginning of each calendar year
the Secretary shall inform the Commission's
Members of their obligations in respect of annual
contributions to the budget.
- Contributions shall be due and payable in full
within 30 days of the receipt of the communication
of the Secretary referred to in Regulation V.2
above, or as of the first days of the calendar year
to which they relate, whichever is later. As
of 1 January of the following calendar year, the unpaid
balance of such contributions shall be considered
to be one year in arrears.
- The annual contributions to the Administrative
Budget shall be assessed in United States dollars
and shall be calculated in accordance with the scheme
annexed to these Regulations and forming an integral
part thereof. The contributions shall be paid in US
dollars unless otherwise determined by the Commission.
- Any new Member of the Commission shall pay a contribution
to the budget in accordance with the provisions of
Article XIII, paragraph 3 of the Agreement for the
financial period in which the membership becomes effective,
such contribution beginning with the quarter in which
membership is acquired.
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| Regulation
VI - Funds |
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- All contributions, donations and other forms of
assistance received shall be placed in a Trust Fund
administered by the Director-General in conformity
with the Financial Regulations of FAO.
- With respect to the Trust Fund referred to in Regulation
VI.1, the Organization shall maintain accounts:
2.1 A General Account to which shall be credited receipts
of all contributions paid under Article XIII, paragraph
1 and from which shall be met all expenditure
chargeable against the sums allocated to the annual
Administrative Budget.
2.2 Such additional accounts as may be necessary to
which shall be credited the additional contributions
under Regulation IV.2 and from which shall be met
all expenditures relating thereto.
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| Regulation
VII |
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These Regulations may be amended by the Commission in
accordance with Article VI, paragraph 7.
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