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9.
2.
years.
3.
The Auditor shall be eligible for reappointment for up to four successive
The External Auditor shall have the right to recommend to the Chairman
that he convenes a special session of the Council. In such cases, the Auditor
shall prepare the provisional agenda.
PART THREE : Operations
Article XIV : Authorization
1.
The Corporation is authorized to carry out its functions in the
territories of the member States in accordance with the provisions of the
present Agreement and its annexes A and B.
Article XV : Cessions to the Corporation
1..... Each Member Government shall secure a basic flow of business to the
Corporation by arranging for agreed cessions to be made by insurance and
reinsurance institutions in accordance with annex A to the present Agreement.
£
Article XVI :
.1.
Acceptances
The Corporation shall accept the agreed cessions in accordance with
annex A.
2.
The Corporation may accept in addition, subject to the limits and types of risks that the Council may determine, reinsurance treaties and facultative
reinsurance offers from any insurance or reinsurance institution.
Article XVII :
1.
Retrocessions
The Corporation shall retain as much volume of business placed with
it as its technical capacity and prudence will permit,
2.
!
Priority on retrocessions shall be given by the Corporation to
compensating those agreed cessions received from insurance and reinsurance
institutions under shares of treaties providing for reciprocal business
inflow from the foreign leading reinsurers.
3.
Remaining retrocessions shall be offered primarily to insurance and
reinsurance institutions ceding business to the Corporation and located in
the
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and only thereafter to reinsurers located elsewhere.
the
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