Common use of Functions and Powers Clause in Contracts

Functions and Powers. (a) Subject to the provisions of this Agreement, all the powers of the Agency shall be vested in the General Meeting. (b) In addition to the other functions and powers set out and conferred upon it by this Agreement, the General Meeting shall have the power to: (i) admit new Members and, in the case of Members other than African States, determine the conditions of their admission; (ii) determine the remuneration of the Directors; (iii) appoint and remove, on the recommendation of the Board of Directors, the Chief Executive Officer and determine his or her remuneration and terms and conditions of service; (iv) appoint the external auditors of the Agency and determine their mandate and remuneration; (v) consider, approve or reject the annual accounts of the Agency; (vi) subject always to sub-paragraphs 9.1(b) and (c) of this Agreement, determine and authorize, on the recommendation of the Board of Directors, the allocation and distribution of net income; (vii) suspend or terminate the operations of the Agency and determine the distribution of the assets of the Agency in the event of dissolution; (viii) consider and determine any matter which the Board of Directors may refer to it; (ix) generally provide guidance to the Board of Directors in the discharge of its functions; and (x) perform such other functions and exercise such other powers as may be incidental or conducive to the discharge of any of the functions or exercise of any of the powers provided under this Agreement.

Functions and Powers. (a) Subject to the provisions of this Agreement, all the powers of the Agency shall be vested in the General Meeting. (b) In addition to the other functions and powers set out and conferred upon it by this Agreement, the General Meeting shall have the power to: (i) admit new Members and, in the case of Members other than African States, determine the conditions of their admission; (ii) determine the remuneration of the Directors; (iii) appoint and remove, on the recommendation of the Board of Directors, the Chief Executive Officer and determine his or her remuneration and terms and conditions of service,; (iv) appoint the external auditors of the Agency and determine their mandate and remuneration; (v) consider, approve or reject the annual accounts of the Agency; (vi) subject always to sub-paragraphs 9.1(b1(b) and (c) of Article 9 of this Agreement, determine and authorize, on the recommendation of the Board of Directors, the allocation and distribution of net income; (vii) suspend or terminate the operations of the Agency and determine the distribution of the assets of the Agency in the event of dissolution; (viii) consider and determine any matter which the Board of Directors may refer to it; (ix) generally provide guidance to the Board of Directors in the discharge of its functions; and (x) perform such other functions and exercise such other powers as may be incidental or conducive to the discharge of any of the functions or exercise of any of the powers provided under this Agreement.