12.
(a) The repurchase price shall be the equity stock value of the
shares as certified by the Auditors at the date of termination of membership;
(b) The proceeds of these shares shall be placed by the Corporation
on, short terms fixed deposit. The interest earnings thereon
shall accrue to the benefit of the former member and shall be
paid at the time of final settlement of the repurchase of the
shares;
(c) The amount due under sub-paragraph (a) shall be withheld by the Corporation so long as the former member or any of its agencies remain liable in any capacity to the Corporation and such amount may at the option of the Corporation be applied on such liability
as it arises;
(d) Payment for the shares may be made from time to time to the
extent by which the amount due under sub-paragraph (a) exceeds the aggregate liabilities of the former member, until such time as
the full repurchase price has been settled.
Article XXIII :
1.
Temporary Suspension and Termination of Operations of the Corporation
The Council may temporarily suspend operations in respect of accepting
new business pending an opportunity for further consideration.
2.
Should the Corporation exhaust half of its subscribed share capital,
the Council shall meet in special session and shall recommend to the member
States termination of the Agreement and thereby termination of the operations
of the Corporation. Notwithstanding the provisions of the present paragraph,
the Council may by qualified majority vote recommend any other alternative
appropriate solution.
Article XXIV :
PART FOUR Interpretation and Arbitration
Interpretation
1.
Any question of interpretation or application of the provisions of
the present Agreement, or any other conflict arising between any member and
the Corporation, or between two or more members to the present. Ärreement, shall
De Sudillivõed to the Council for decision. The decision snall be taken by a