511 



Article 23 



1, Mciiibors of tlic Executive Coniuiiltee slinll hold oflice until the 

 end of tlie next regular session of the Assembly. 



2. Except to the extcJit that may bo necessary {or complying with 

 the rcquifcmcnts of Article 22, no State Member of the Assembly may 

 serve on tlic Executive Committee for more than two consecutive 

 terms. 



Article 24 



The Executive Committee shall meet at least once every calcuchir 

 year at thirty days' notice u])on convocation by thi> Director, either 

 on his own initiative or at the request of its Chairman or of at least 

 one-third of its members. It shall meet at such ])laces as miiy be 

 convenient. 



Article 25 



At least two-thirds of the members of the Executive Committee 

 shall constitute a quorum for its meetings. 



Article 26 



1. The functions of the Executive Committee shall be: 



(a) to elect its Chairman and adopt its own rules of proceilure, 

 except as otherwise provitled in this Convention; 



(b) to assume and exercise in ])lace of the Assembly the fol- 

 lowing functions: 



(i) making i>rovision for the appointment of such per- 

 sonnel, other than the Director, as may be necessary and 

 determining the ternis anil conditions of service of such 

 personnel ; 



(ii) ai^proving settlements of claims against the Fund and 

 taking all other steps envisaged in relation to such claims 

 in Article IS, paragra[ih 7; 



(iii) givmg instructions to the Director concerning the 

 administration of the Fund and su]iervising the projier 

 execution, by him of the Convention, of the decisions of the 

 Assembly and of the Committee's own decisions; and 



(c) to [lerform such other functions as are allocated to it by 

 the Assembly. 



2. The Executive Committee shall each year prejiare and publish 

 a report of the activities of the Fund during the previous calendar 

 year. 



Article 27 



Members of the Assembly who are not members of the P^xecutive 

 Committee shall have the right to attend its meetings as observers. 



Secretariat 



Article 28 



1. The Secretariat shall comprise the Director and such staff as 

 the administration of the Fund may require. 



