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Article Comparison - International Natural Rubber Agreement

Article 67
Duration, extension and termination

1. This Agreement shall remain in force for a period of four years after its entry into force, unless extended under paragraph 3 or terminated under paragraph 4 or paragraph 5 of this Article.

2. Before the expiry of the four-year period referred to in paragraph 1 of this Article, the Council may, by special vote, decide to renegotiate this Agreement.

3. The Council may, by special vote, extend this Agreement by a period or periods not exceeding two years in all, commencing from the date of expiry of the four year period specified in paragraph 1 of this Article.

4. If a new international natural rubber agreement is negotiated and enters into force during any period of extension of this Agreement pursuant to paragraph 3 of this Article, this Agreement, as extended, shall terminate upon the entry into force of the new agreement.

5. The Council may at any time, by special vote, decide to terminate this Agreement with effect from such date as it may determine.

6. Notwithstanding the termination of this Agreement, the Council shall continue in being for a period not exceeding three years to carry out the liquidation of the Organization, including the settlement of accounts, and the disposal of assets in accordance with the provisions of Article 40 and subject to relevant decisions to be taken by special vote, and shall have during that period such powers and functions as may be necessary for these purposes.

7. The Council shall notify the depositary of any decision taken under this article.