Rules and Members of the Board of Directors

Article 1
The governing rules and regulations stated hereunder are based on the Agreement on The Republic of China-Central American Economic Development Fund (hereinafter called the Fund) signed by the Republic of China, Belize, the Republic of Costa Rica, the Republic of El Salvador, the Republic of Guatemala, the Republic of Honduras and the Republic of Nicaragua (hereinafter called the Member Countries) on July 3, 1998, in Taipei, the Republic of China.

Article 2
The Board of Directors shall have the power to make decisions on the following matters:

  • Appointment and removal of the Secretary of the Fund; (See paragraph (c) of Article V)
  • Approval of the rules and regulations for the management and investment of the Fund; (See paragraph (a) of Article IX)
  • Approval of the proposed budget and auditor's report of the Fund; (See Article VIII and paragraph (a) of Article IX)
  • Approval of proposed projects to be financed by earnings of the Fund; (See paragraph (c) of Article VI)
  • Dissolution of the Fund and disposal of the assets of the Fund; (See paragraph (b) of Article IX).
  • Approval of other matters to be determined by the Board of Directors. (See paragraph (9) of Article IV)

Article 3
The Board of Directors consists of a Director from each Member Country and a representative of the General Secretariat of the Central American Integration System. The Chairman of the Board shall be the Foreign Minister of the Republic of China and the ministers of foreign affairs of the Member Countries shall be the members of the Board. (See paragraph (a) of Article V)

Article 4
The Board shall meet every six months and more often if necessary. The Board meetings shall be convened by the Chairman of the Board. Any member of the Board may request the Chairman of the Board to convene a special meeting. The Chairman may appoint a representative to chair the meeting when he (she) is not able to attend. The forum of the meeting shall be at least five members of the Board.

Article 5
Unless otherwise designated by the relevant member of the Board of the Central American countries, the representative of each Central American country accredited to the Republic of China shall attend the Board meetings on behalf of the said relevant member of the Board. (See paragraph (d) of Article IX)

Article 6
All decisions made by the Board shall be unanimous. (See paragraph (c) of Article IX)

Article 7
The minutes of the Board meeting, including the Board Resolutions, shall be signed by the Chairman of the Board and shall be sent to all Directors within two weeks after the meeting.

Article 8
These governing rules and regulations, and any amendment thereto, shall become effective upon the approval by the Board.

  • Hits: 16081
  • Date:2010/12/15