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Article Comparison - International Natural Rubber Agreement


Article 21
Financial accounts

1. For the operation and administration of this Agreement, there shall be established two accounts:

(a) the Buffer Stock Account; and

(b) the Administrative Account.

2. All the following receipts and expenditures in the creation, operation and maintenance of the buffer stock shall be brought into the Buffer Stock Account: contributions from members under Article 27, revenue from sales of or expenditure in respect of acquisition of buffer stocks; interest on deposits of the Buffer Stock Account; and costs relating to purchase and sales commissions, storage, transportation and handling, maintenance and rotation, and insurance. The Council may, however, by special vote, bring any other type of receipts or expenditures attributable to buffer stock transactions or operations into the Buffer Stock Account.

3. All other receipts and expenditures relating to the operation of this Agreement shall be brought into the Administrative Account. Such expenditures shall normally be met by contributions from members assessed in accordance with Article 24.

4. The Organization shall not be liable for the expenses of delegations or observers to the Council or to any committee established under Article 18.