Article 36 Duration, extension and termination

1. This Agreement shall remain in force until 31 December 2026.

2. The Council of Members may extend this Agreement. The Council of Members shall notify the depositary of any such extension. Any member which does not accept any such extension of this Agreement shall inform the International Olive Council and shall cease to be a Contracting Party to this Agreement from the beginning of the period of extension.

3. If before 31 December 2026, or before the expiry of the extension as decided by the Council of Members, a new agreement has been negotiated by the Council of Members but has not yet entered into force either definitively or provisionally, this Agreement shall remain in force beyond its expiry date until the new agreement enters into force for a maximum duration of 12 months.

4. The Council of Members may decide on the termination of this Agreement by consensus. The obligations of the members shall continue until the date of termination as determined by the Council of Members.

5. Notwithstanding the expiry or termination of this Agreement, the International Olive Council shall continue in being for as long as may be necessary for the purpose of carrying out the liquidation of the International Olive Council, including the settlement of accounts, and shall have during that period such powers and functions as may be necessary for these purposes.

6. The Council of Members shall notify the depositary of any decision taken under this article.