Decisión nº: 002411

In October 1993 the 1971 Fund Assembly decided that a general review of the Financial Regulations applicable to the present Organisation should be made in conjunction with the elaboration of Financial Regulations to be applied by the Organisation established under the 1992 Protocol to the 1971 Fund Convention. The Assembly also decided that in view of the increased total amount of monthly salaries payable to Fund staff the amount up to which the Director was authorised to empower two other officers to sign jointly instructions for payment of salaries should be increased from £25,000 to £40,000, and further decided to empower the Director to authorise two other officers jointly to make payment up to £25,000 in respect of a particular claim already approved by the Director where a delay in payment would cause financial hardship for the victims concerned. The Assembly adopted amendments to Financial Regulation 6.2 to reflect these changes. The Assembly agreed that the current practice of joint investment of various funds was not detrimental to the contributors to those funds, who were generally the same, but considered it appropriate to clarify in the Financial Regulations that Major Claims Funds, the General Fund, Contributors’ Accounts, the Provident Fund and any special accounts could be merged for investment purposes, even if the contributors to these funds were not identical, any income being accrued to the respective Fund or account pro rata. The Assembly decided to include in the Financial Regulations a provision to this effect.