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ARTICLE 15

ARTICLE 15

 

Change the wording of Article 17 as follows:

"1. Any Member of the Organization or Signatory may voluntarily at any time withdraw from the Organization by notice in writing to that effect given to the Depositary. Upon withdrawal of a Signatory from the Organization, corresponding notice to that effect shall be given by the Member of the Organization that appointed this Signatory.

The withdrawal of a Member of the Organization shall entail simultaneous withdrawal of any Signatory appointed by this Member.

2. Upon receipt, by the Depositary, of the withdrawal notice, the Member of the Organization that gave such notice and any Signatory appointed by it or a Signatory whose withdrawal is notified shall forfeit the right of representation and the right of vote in any body of the Organization and shall not assume any obligations after the date of receipt of such notice. However, upon withdrawal of any Signatory both the Organization and the Signatory shall remain liable for financial settlements. For any Member of the Organization and/or Signatory the said withdrawal shall become effective, and this Agreement and/or Operating Agreement invalid upon expiry of three months as from the date of receipt, by the Depositary, of written notice as set forth in paragraph 1.

3. Whenever a Signatory withdraws from the Organization, the Member of the Organization that appointed that Signatory shall, before the effective date of withdrawal, appoint a new Signatory as from this date or withdraw from the Organization. If a Member of the Organization fails to take the said measures before that date, it shall be considered to cease to be a Member as from the aforesaid date.

4. If for whatever reason a Member of the Organization wishes to appoint a new Signatory, such Member of the Organization shall give the Depositary written notice to that effect. The Operating Agreement shall become effective for the new Signatory and invalid for the former Signatory as soon as the new Signatory assumes the obligations that its predecessor failed to meet and signs the Operating Agreement."