Decision ID: 002963

In May 2004 the 1992 Fund Assembly agreed that the management fee payable by the Supplementary Fund to the 1992 Fund towards the running of the joint Secretariat of the 1971, 1992 and Supplementary Funds should initially be set at £150,000 per annum and that the Supplementary Fund should also pay costs relating solely to the Supplementary Fund, such as fees for the External Auditor’s audit, general consultancy and legal work, which for budgetary purposes was estimated at £50,000. The Assembly agreed that the first Supplementary Fund budget should include amounts enabling the Supplementary Fund to repay the 1992 Fund for the costs to finance the International Conference that adopted the Supplementary Fund Protocol and the costs involved in setting up the Supplementary Fund. The Assembly further agreed that, since it was likely that the Supplementary Fund Protocol would enter into force towards the end of 2004, the first financial year for the Supplementary Fund should cover any part of 2004 for which the Protocol would be in force and the entire calendar year 2005.