Article 16 Payment of contributions

1. At its second session of the calendar year, the Council of Members shall determine the aggregate amount of the budget referred to in article 14 of this Agreement and the contribution to be paid by each member for the following calendar year. Such contribution shall be calculated on the basis of the participation shares of each member as established in article 11 of this Agreement.

2. The Council of Members shall assess the initial contribution of any member which becomes a Party to this Agreement after the entry into force of the latter. Such contribution shall be calculated on the basis of the participation shares assigned to the member concerned under article 11 of this Agreement as applied to the unexpired portion of the year in question. The amount of the contribution to be paid by the other members for that calendar year shall not be altered.

3. Contributions shall be payable in euros and shall fall due from the first day of the financial year, that is on 1 January of each year.

The contributions of members for the financial year during which they become members of the International Olive Council shall fall due on the date on which they become members.

4. If, four months after the date on which contributions fall due, a member has not settled its contribution in full, the executive secretariat shall write to the member concerned within seven days in order to request that member to make payment.

5. If, upon the expiry of a period of two months from the date of the request made by the executive secretariat, the member in question has not yet settled its contribution, the voting rights of that member in the Council of Members shall be suspended until such time as it has made full payment of its contribution.

The representatives of the member concerned shall likewise be suspended from holding elective office in the Council of Members as well as in committees and subcommittees and from participating in activities financed by the International Olive Council in the following year.

6. At its first regular session of the calendar year or the extraordinary session which follows the deadline for contributions, the Council of Members shall be informed if a member has not settled its contribution. The Council of Members, with the exception of the member in arrears, may, after hearing the latter and taking into account its specific situation such as conflicts, natural disasters or difficulties in accessing international financial services, take any other decision by consensus. The Council of Members may adapt the work programme of the executive secretariat in the light of the contributions effectively paid by the members.