Term Type:
Following a unanimous decision taken by the members of the Commission at the Annual Meeting on 18 May 2003, the International foot-and-mouth disease Vaccine Bank (“the Bank”) shall cease to operate in accordance with Article XII of the Agreement, with effect from 30 June 2004. On 1 June 2004, the government of Australia deposited an Act of Denunciation with the depositary. In accordance with Article XI, paragraph 1, the Denunciation of Australia will become effective on 20 November 2005. Following the completion of the final annual accounts of the Bank on 31 January 2007 marked, the provisions contained in Article XII, paragraphs 2,3,4 and 5 for the winding-up of the Bank were deemed to be discharged. The depositary proposed a 90-day silence procedure ending 18 June 2007, following which the Agreement would be regarded as terminated unless any of the above Participating States indicated an objection. No objections having been received in this period, the Agreement was terminated as between the Participating States with effect 19 June, 2007. Foreign & Commonwealth Office, London.
