OpenLegislation

Article 23 Finances

United Kingdom

Original text. Later amendments are not shown.

1.

[Budget]

(a)

The Union shall have a budget.

(b)

The budget of the Union shall include the income and expenses proper to the Union and its contribution to the budget of expenses common to the Unions administered by the Organisation.

(c)

Expenses not attributable exclusively to the Union but also to one or more other Unions administered by the Organisation shall be considered to be expenses common to the Unions. The share of the Union in such common expenses shall be in proportion to the interest the Union has in them.

2.

[Coordination with Budgets of Other Unions] The budget of the Union shall be established with due regard to the requirements of coordination with the budgets of the other Unions administered by the Organisation.

3.

[Sources of Financing of the Budget] The budget of the Union shall be financed from the following sources:

  1. (i)

    fees relating to international registrations;

  2. (ii)

    charges due for other services rendered by the International Bureau in relation to the Union;

  3. (iii)

    sale f, or royalties on, the publications of the International Bureau concerning the Union;

  4. (iv)

    gifts, bequests and subventions;

  5. (v)

    rents, interests and other miscellaneous income.

4.

[Fixing of Fees and Charges; Level of the Budget]

(a)

The amounts of the fees referred to in paragraph (3)(i) shall be fixed by the Assembly on the proposal of the Director General. Charges referred to in paragraph 3(ii) shall be established by the Director General and shall be provisionally applied subject to approval by the Assembly at its next session.

(b)

The amounts of the fees referred to in paragraph (3)(i) shall be so fixed that the revenues of the Union from fees and other sources shall be at least sufficient to cover all the expenses of the International Bureau concerning the Union.

(c)

If the budget is not adopted before the beginning of a new financial period, it shall be at the same level as the budget of the previous year, as provided in the financial regulations.

5.

[Working Capital Fund] The Union shall have a working capital fund which shall be constituted by the excess receipts and, if such excess does not suffice, by a single payment made by each member of the Union. If the fund becomes insufficient, the Assembly shall decide to increase it. The proportion and the terms of payment shall be fixed by the Assembly on the proposal of the Director General.

6.

[Advances by Host State]

(a)

In the headquarters agreement concluded with the State on the territory of which the Organisation has its headquarters, it shall be provided that, whenever the working capital fund is insufficient, such State shall grant advances. The amount of those advances and the conditions on which they are granted shall be the subject of separate agreements, in each case, between such State and the Organisation.

(b)

The State referred to in subparagraph (a) and the Organisation shall each have the right to denounce the obligation to grant advances, by written notification. Denunciation shall take effect three years after the end of the year in which it has been notified.

7.

[Auditing of Accounts] The auditing of the accounts shall be effected by one or more of the States members of the Union or by external auditors, as provided in the financial regulations. They shall be designated, with their agreement, by the Assembly.