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(c) Ronald B. Mitchell and the IEA Database Project, 2002-2018 .
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1978: Convention On Future Multilateral Cooperation In The Northwest Atlantic Fisheries

Related Lineage is:
Provisions coded as containing the code: FINAD
  Provision  First Coders Codes  Second Coders Codes 
Art.16.1  1. Each Contracting Party shall pay the expenses of its own delegation to all meetings held pursuant to this Convention.     
Art.16.2  2. The General Council shall adopt an annual budget for the Organization.     
Art.16.3  3. The General Council shall establish the contributions due from each Contracting Party under the annual budget on the following basis:     
Art.16.3.a  (a) 10% of the budget shall be divided among the coastal States in proportion to their nominal catches in the Convention Area in the year ending two years before the beginning of the budget year;     
Art.16.3.b  (b) 30% of the budget shall be divided equally among all the Contracting Parties; and     
Art.16.3.c  (c) 60% of the budget shall be divided among all Contracting Parties in proportion to their nominal catches in the Convention Area in the year ending two years before the beginning of the budget year.     
Art.16.3.dx  The nominal catches referred to above shall be the reported catches of the species listed in Annex I, which forms an integral part of this Convention.  ATTACH   
Art.16.4  4. The Executive Secretary shall notify each Contracting Party of the contribution due from that Party as calculated under paragraph 3, and as soon as possible thereafter each Contracting Party shall pay to the Organization its contribution.     
Art.16.5  5. Contributions shall be payable in the currency of the country in which the headquarters of the Organization is located, except if otherwise authorized by the General Council.     
Art.16.6  6. Subject to paragraph 11, the General Council shall, at its first meeting, approve a budget for the balance of the first financial year in which the Organization functions and the Executive Secretary shall transmit to the Contracting Parties copies of that budget together with notices of their respective contributions.     
Art.16.7  7. For subsequent financial years, drafts of the annual budget shall be submitted by the Executive Secretary to each Contracting Party together with a schedule of contributions, not less than sixty days before the annual meeting of the Organization at which the budgets are to be considered.     
Art.16.8  8. A Contracting Party acceding to this Convention during the course of a financial year shall contribute in respect of that year a part of the contribution calculated in accordance with the provisions of this Article that is proportional to the number of complete months remaining in the year.     
Art.16.9  9. A Contracting Party which has not paid its contributions for two consecutive years shall not enjoy any right of casting votes and presenting objections under this Convention until it has fulfilled its obligations, unless the General Council decides otherwise.     
Art.16.10  10. The financial affairs of the Organization shall be audited annually by external auditors to be selected by the General Council.     
Art.16.11  11. If the Convention enters into force on 1 January 1979, the provisions of Annex II, which forms an integral part of this Convention, shall apply in place of the provisions of paragraph 6.  ATTACH  ATTACH 
Please cite as:
Data from Ronald B. Mitchell. 2002-2018. International Environmental Agreements Database Project (Version 2014.3).
Available at:
Date accessed: 13 December 2018