FINANCIAL RULES
OF THE CUSTOMS CO-OPERATION COUNCIL
as amended and adopted by Decisions of the Council
No. 195, No. 246 and No. 255
Rule 1 The financial year
The financial year shall be from 1 July to 30 June.
ITIZT
Rule 2 Funds
(a) There shall be established a General Fund for the purpose of
accounting for the expenditure of the Council under its annual budget. The contributions paid by Members under Rule 5, paragraph (b), miscellaneous income, and any advances made from the Working Capital Fund to finance expenditure, shall be credited to the General Fund.
(b) There shall be established a Working Capital Fund in an
amount and for purposes to be determined by the Council. The source of monies of the Working Capital Fund shall be advances from Members, and these advances, made in accordance with the scale of assessments as determined by the Council for the apportionment of the expenses of the Council shall be carried to the credit of the Members which have made such advances and shall remain their property.
(c) Advances made from the Working Capital Fund to finance
budgetary appropriations during a financial year shall be reimbursed to the Fund as soon as and to the extent that income is available for that purpose.
(a) Income derived from investment of the Working Capital Fund
shall be credited to the Fund. Such income shall be allocated to Members in proportion to the amounts standing to their credit.
(e) Trust funds, reserve and special accounts may be established
by the Secretary General under the control of and for
Unless otherwise purposes defined by the Finance Committee. provided, such funds and accounts shall be administered in accordance with these Rules.
June 1987.
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