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 III FINANCIAL REGULATIONS

TITLE III FINANCIAL REGULATIONS

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ARTICLE 20

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§1 Except as otherwise specifically provided, all financial matters related to the Council, including subsidiary bodies, and the meetings of the Democratic Assembly including its Bureau shall be governed by this Treaty and the Financial Regulations and Rules adopted by the Democratic Assembly.

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§2 Expenses of the Council, including subsidiary bodies, and the Democratic Assembly including its Bureau shall be paid from the funds of the CTTO.

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§3 The expenses of the CTTO, including the Council and subsidiary bodies and the Democratic Assembly including its Bureau, as provided for in the budget decided by the Democratic Assembly, shall be provided by the following sources:

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a. Assessed contributions made by Contracting States for the period until the Review Conference is convened as meant in art. 24§ 1;

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b. Contributions from the Global Fund;

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§4 The contribution of Contracting States shall be assessed in accordance with agreed scale of assessment, based on the scale adopted by the United Nations for its regular budget and adjusted in accordance with the principles on which that scale is based.

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§5 Without prejudice to paragraph 3, the CTTO may receive and utilise, as additional funds, voluntary contributions from Governments, international organisations, individuals, corporations and other entities, in accordance with relevant criteria adopted by the Democratic Assembly.

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