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2.
7
(b) Define guidelines for the investment policy of the funds of the
Corporation;
(c) Define guidelines for the acceptance, retention and retrocession
of reinsurance business by the Corporation;
(d) In consultation with the General Manager, adopt rules and
regulations for the staff of the Corporation;
(e) Take such other action as may be appropriate, to implement the
present Agreement.
The Council may delegate to the Management Board the authority to
perform any of its functions, except the following:
(a) To appoint the General Manager, the Assistant General Manager,
the Corporate Secretary and the External Auditors;
(b) To approve the annual Balance Sheet, the Revenue, and the Profit
and Loss Account, the Report of the Management Board, and the
Report of the Auditors;
(c) To decide on the allocation of the net profit, the establishment
of statutory reserves and transfers to and from these reserves;
(a) To increase or decrease the authorized stock capital;
(e) To terminate the operations of the Corporation;
(f) To recommend to the member States amendments to the present
Agreement or propose its termination.
Article VII : Qualified Majcrity Vote
1.
Notwithstanding the provisions of Article V, para. 11 of the present Agreement, a two-thirds majority of Members present and voting is required for adopting decisions on the following subjects:
(a) Recommendations to member States regarding amendments to this
Agreement or its termination;
(b) Termination of the operations of the Corporation;
(c) Increase of the authorized stock capital;
$
(a) Annointment
re the General Manacer and termination of his contract.