Article 35 Settlement of accounts

International Agreement on Olive Oil and Table Olives · Date: 09.10.2015 · In force

1. The Council of Members shall determine any settlement of accounts which it finds equitable, taking into account all the commitments entailing legal consequences for the International Olive Council and which would have repercussions on the contribution of a member which has withdrawn from this Agreement or which has been excluded from the International Olive Council or has otherwise ceased to be a Party to this Agreement, as well as the time needed to ensure an adequate transition, in particular when such commitments have to be terminated.

Notwithstanding the provisions of the subparagraph above, such member shall be bound to pay any amounts due from it to the International Olive Council in respect of the period during which it was a member.

2. Upon termination of this Agreement, no member referred to in paragraph 1 of this article shall be entitled to any share of the proceeds of the liquidation or the other assets of the International Olive Council; nor shall it be burdened with any part of the deficit, if any, of the International Olive Council.

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National Database of Legislation of the Republic of Uzbekistan (lex.uz). Original on lex.uz: lex.uz/docs/5634139

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Cite as: Article 35 Settlement of accounts International Agreement on Olive Oil and Table Olives. neolex.uz/en/laws/law-5629885/35 (lex.uz/docs/5634139)