Decision ID: 002612

In October 1997 the 1992 Fund Assembly adopted a Resolution (1992 Fund Resolution No.5) addressing both the mandate and the composition of the 1992 Fund Executive Committee. The Assembly decided, contrary to its decision at its 1st extraordinary session, to allow a State to serve for more than two consecutive terms on the 1992 Fund Executive Committee, to the extent necessary to comply with the eligibility requirements in respect of the group of States with the largest oil receipts. The Assembly decided to include in the Resolution a provision to the effect that if a State that was being considered for election to the Executive Committee were to believe that it might be prevented from attending, such a State might wish to inform other delegations so as to enable the Assembly to elect another State. The Assembly considered that the Rules of Procedure of the 1992 Fund Executive Committee should correspond largely to those of the 1971 Fund Executive Committee, rather than those of the Assembly, and therefore decided to amend Rule 24 of the Assembly’s Rules of Procedure to facilitate this. It was also decided that, since the Executive Committee was a subsidiary body established by the Assembly, the Committee’s Rules of Procedure should be adopted by the Assembly, which it therefore did.

Date: 30.09.1997
Categories: Administrative matters, Procedural matters, Regulations and Rules, Resolutions adopted by the IOPC Funds' governing bodies
Subjects: Executive Committees, establishment and allocation of functions, Resolutions, Rules of Procedure, Rules of Procedure, 1992 Fund Resolutions, Establishment of the 1992 Fund Executive Committee and the allocation of its functions, Rules of Procedure of 1992 Fund Executive Committee