Doc 7515. Edition 3. ICAO FINANCIAL REGULATIONS

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Doc 7515. Edition 3

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ICAO FINANCIAL REGULATIONS

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Doc 7515/3 Approved by the Asembly and issued by authority of the Secretary General THE ICAO FINANCIAL REGULATIONS 3rd Edition effective 1 January 1959 The Financial Regolatiom repmdmed in this document incorporate amended Regulations 6.4, 7.2 and new Regulation 7.3 adopted by the Assembly at the Fourth Plenary Meeting of its EleventhSessionunderResola- tion All-10 on 2 June 1958. This document replaces DOC 7515 Revis dated Angost 1956. I November 1958 INTERNATIONAL CNUI AVIATION ORGANIZATION

Resolution All-10 of the Eleventh Session of the Assembly reads as follows All-10 Working Cauital Fund WHEREAS it having been decided that the existing method of ndministering the Working Capital Fund creates a serious unbalance in the equities of Contracting States THE ASSEMBLY RESOLVES 1 That the Working Capital Fund, with effect from 1 January 1959, be established at a level of 900,000 Canadian Funds and remain at that level unless and until altered by the Assembly, subject only to increases resulting from new States becoming members of the Organization. 2 That the equities of Contracting States be directly re- lated to the current General Fund scale of assessments totalling 1500 basic units and the consequent initial adjustments, both in the case of debits andcredits, be spread equally over a period of six years from 1 Janwy 1959, 3 That, with effect from 1 January 1959, the assessment of new member States to the Working Capital Fund, as well as to the General Fund, be based solely on the number of units determined by the Assembly. 4 That cash surpluses in the General Fund be credited to individual States according to the scale of assess- ments in the year, in respect of which the surplus arose and, on 1 January following the year inwhich the audit is completed, be released and applied to liquidate, in whole or in part Firstly, any arrears of contributions due by such States to the Working Capital Fund and

Secondly, any arrears of cantributions due to the General Fund and Thirdly, contributions assessed to States for the year following the year in which the audit is completed. 5 That cash deficits caused by arrears of contributions be made good by provision in the budget for the year following the year of audit, 6 That when arrears of more than two years standing, such period of two years being extendedup to the time of the adoption of the budget by the Assembly, are paid up by States in arrears, the payments be treated as income of the year in which the payments are received. 7 That the ICAO Financial Regulations Doc 7515, Revised be amended as follows Dhe amendments have been incorporated in the following text. 8 That the Council be authorized to approve any other transitional arrangement resulting from the introduc- tion of the new system.

THIE ICAO FINANCXAL REGULATIONS ARTICLE I AppLicabUity 1.1 These Regulations ehall gavern the financial adminiRtration of the International Civil Aviation Organhion. ARTICLE XI Mnance Committee of the Councfl 2.1 There h831 be a Finance Committee of the Cauncil which shall - a exercise fie frmctlom assigned to it by these Regulations b make such of the Organization as it deems neces- sary for enm-sing that the amaunts voted are properly spent and that the most efficient and economical mthodof carrying out the approved programme is observed and C deal with any related matter referred to it by the Council. 2.2 The proceedings of the Finance Committee shall be governed by Rules of Procedure established by the Councfl. ARTICLE m Financial Year 3.1 The financial. year shall be the period1 January to 31 December, bclusive. ARTICLE IV The Budget 4.1 The anllual budget estimates shall be submitted to the Assembly by the Council.

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