Article 26 Winding up

The winding up of the Organisation shall be decided by the Council in accordance with Article 9(10)(h).

Without undue delay and in any event within 10 days after adoption of the decision to wind up the Organisation, the Organisation shall notify the Commission about the decision.

Assets remaining after payment of the debts of the Organisation shall be apportioned among the members in proportion to their accumulated annual contribution to the Organisation. In accordance with Article 16(2), liabilities remaining after including the Organisation assets shall be apportioned among the members in proportion to their annual contribution to the Organisation and be limited to the value of each individual member's respective annual contribution agreed upon in the annual budget.

Without undue delay and in any event within 10 days of the closure of the winding up procedure, the Organisation shall notify the Commission thereof.

The Organisation shall cease to exist on the day on which the Commission publishes the appropriate notice in the Official Journal of the European Union.