Decisión nº: 001212

In March 2001 the acting Chairman of the 1971 Fund Assembly attempted to open the 7th extraordinary session of the Assembly, but the Assembly failed to achieve a quorum. It was recalled that at its 4th extraordinary session the 1971 Fund Assembly had adopted 1971 Fund Resolution No.13 whereby, with effect from the first session of the Assembly which failed to achieve a quorum, various functions of the Assembly would be delegated to the Executive Committee. It was also recalled that if the Executive Committee failed to achieve a quorum the Administrative Council established under Resolution No.13 would assume the functions of the Assembly (and therefore also of the Executive Committee). It was noted that only seven of the 15 States previously elected to the Executive Committee remained Members of the 1971 Fund, and that since the quorum requirement for the Committee was ten States, it would no longer be possible for this Committee to achieve a quorum. In accordance with Resolution No.13, the items on the Assembly’s agenda were therefore dealt with by the Administrative Council (at its 4th session).