Treaty on Global Currency Transactions Tax

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Treaty on Global Currency Transactions Tax

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PART IV STRUCTURE OF THE CTTO

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TITLE II GENERAL DEMOCRATIC ASSEMBLY

TITLE II GENERAL DEMOCRATIC ASSEMBLY

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ARTICLE 19

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§1 A General Democratic Assembly to this Treaty is hereby established.

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§2 Each State shall have one State representative and a number of representatives appointed by the States' parliament, composed on the basis of democratic elections [as the Council may determine]. This number of representatives from national parliament shall be one if the population of the State amounts to less than 10 million people, three if more than 10 million people but less than 100 million people and 5 if more than 100 million people.

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The representatives may be accompanied by alternates and advisers.

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Other States which have signed this conventions but not ratified may be observers in the Democratic Assembly;

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§3 The Democratic Assembly shall elect from a list presented by the chairman and vice chairman of the "Coalition of Non-Governmental Organisations's at the CTTO" a number of representatives from the civil society that equals [75 % or as will be agreed] of the representatives as meant in § 2.

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"A Coalition of Non-governmental organisations at the CTTO" is hereby established and represents the civil society.

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The chairman and the two vice chairman of the Coalition are appointed by the Bureau established under paragraph 5 on the basis of elections organised by the Bureau.

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§4 The Democratic Assembly shall:

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a. Determine the allocations of the global revenues of the CTTO for global common goods

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b. Consider and determine the budget for the CTTO.

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c. Consider and adopt, as appropriate, recommendations of the Preparatory Group established under art. 26;

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d. Consider the reports and activities of the Council and the Bureau and take appropriate action in regard thereto;

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e. Consider pursuant to article 15 and 21, any questions relating to co-operation and disputes;

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f. Perform any other function consistent with this Treaty.

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§5 a. The Democratic Assembly shall have a Bureau consisting of a President, two Vice-Presidents and [---] members elected by the Democratic Assembly for three-year terms.

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b. The Bureau shall have a representative character, taking into account, in particular, equitable geographical distribution and the adequate representation of the States and components of the civil society.

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c. The Bureau shall meet as often as necessary, but at least once a year. It shall assist the Democratic Assembly in the discharge of its responsibilities.

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§6 The Democratic Assembly may establish such subsidiary bodies as may be necessary, including an independent oversight mechanism for inspection, evaluation and investigation of the CTTO and the application of the CTT introduced by the Contracting States, in order to enhance its efficiency and economy.

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§7 The President of the Council or his representatives may participate, as appropriate, in meetings of the Democratic Assembly and of the Bureau.

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§8 The Democratic Assembly shall meet at the seat of the CTTO or at the United Nations in Geneva once a year and, when circumstances so require, hold special sessions. Except as otherwise specified in this Convention, special sessions shall be convened by the Bureau on its own initiative or at the request of the third of the Contracting States.

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§9 Each representative shall have one vote. Every effort shall be made to reach decisions by consensus in the Democratic Assembly and in the Bureau. If consensus cannot be reached, decisions shall be taken by a simple majority of representatives present and voting.

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§10 A Contracting State which is in arrears in the payment of its financial contributions toward the costs of the CTTO shall have no vote in the Democratic Assembly and in the Bureau if the amount of the contributions due from it for the preceding two full years. The Democratic Assembly may, nevertheless, permit such a Contracting State to vote in the Democratic Assembly and in the Bureau if it is satisfied that the failure to pay is due to conditions beyond the control of the Contracting State.

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§11 The Democratic Assembly shall adopt its own rules of procedure.

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§12 The official and working languages of the Democratic Assembly shall be those of the General Democratic Assembly of the United Nations.

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