The objectives of the 1992 International Sugar Agreement (hereinafter referred to as "this Agreement") are, in the light of the terms of resolution 93 (IV) adopted by the United Nations Conference on Trade and Development:

(a)

Increase international cooperation on issues that directly or indirectly relate to sugar in the world;

(b)

Provide a framework for intergovernmental consultations on sugar and ways to improve the global sugar economy;

(c)

To facilitate the trade in sugar through the collection and dissemination of information on the world sugar market and other sweeteners;

(d)

Encourage increased demand for sugar, especially for new uses.

For the purposes of this Agreement:

1.

The term "Organization" means the International Sugar Organization referred to in Article 3.

2.

The term "Council" means the International Sugar Council referred to in paragraph 3 of Article 3.

3.

"Member" means a Party to this Agreement.

4.

"Special vote" means a vote requiring at least two-thirds of the votes cast by the Members present and voting, provided that these votes are expressed by at least two-thirds of the Members present and voting.

5.

"Voting by simple majority" means a vote requiring more than half of the total number of votes cast by the Members present and voting, provided that these votes are expressed by at least half of the Members present and Voters.

6.

"Year" means the calendar year.

7.

The term "sugar" means sugar in all its recognized commercial forms, extracted from sugarcane or sugar beet, including edible molasses and whimsy molasses, syrups and all other forms of liquid sugar, but Not the back-product molasses or the non-centrifuged, non-centrifuged sugars produced by primitive methods.

8.

The term "entry into force" means the date on which the Agreement enters into force on a provisional or final basis, in accordance with the provisions of Article 40.

9.

The term "free market" means the total net imports of the world market, with the exception of those resulting from the application of special arrangements such as those defined in Chapter IX of the 1977 International Agreement on Sugar.

10.

The term "world market" means the international sugar market and includes both sugar traded on the free market and sugar traded under special arrangements such as those defined in Chapter IX of the Agreement Of 1977 international sugar.

1. The International Sugar Organization, established by the 1968 International Sugar Agreement and maintained by the International Sugar Agreements of 1973, 1977, 1984 and 1987 ¹ , shall remain in existence to ensure the implementation of this Agreement and to monitor its implementation, and shall have the composition, powers and functions defined in this Agreement.

2. The Organization shall have its seat in London, unless the Council, by a special vote, decides otherwise.

The Organization shall carry out its functions through the International Sugar Council, its Administrative Committee, its Executive Director and its staff.

Each Party to this Agreement shall be a Member of the Organization.

Any reference in this Agreement to a "government" or "governments" shall be deemed to be the case for the European Economic Community and for any other intergovernmental organization with responsibilities in the negotiation, the conclusion And the implementation of international agreements, in particular commodity agreements. Accordingly, any mention in this Agreement of the signature, ratification, acceptance or approval, or notification of provisional application, or accession is, in the case of such organizations Intergovernmental organizations, which shall also be deemed to be relevant for signature, ratification, acceptance or approval, or for notification of provisional application, or accession, by such intergovernmental organizations.

The Organization has international legal personality.

2. The Organization may enter into contracts, acquire and dispose of movable and immovable property and may be a party to legal proceedings.

The status, privileges and immunities of the Organization in the United Kingdom shall continue to be governed by the Headquarters Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Organization And signed in London on 29 May 1969 with the amendments which may be necessary to ensure the proper functioning of this Agreement.

4. If the seat of the Organization is transferred to a country which is a Member of the Organization, that Member shall, as soon as possible, enter into an agreement with the Organization which shall be approved by the Council concerning the status, privileges and immunities Of the Organization, its Executive Director, its staff and experts, as well as representatives of the Members who are in that country to carry out their functions.

5. Unless other tax provisions are taken under the agreement envisaged in paragraph 4 of this article and pending the conclusion of this agreement, the new Host Member:

(a)

Exempt from all taxes the emoluments paid by the Organization to its staff, the exemption not necessarily applicable to its own nationals; and

(b)

Exempts the assets, income and other assets of the Organization from all taxes.

6. If the headquarters of the Organization is transferred to a country that is not a Member of the Organization, the Council shall, before the transfer, obtain written assurance from the Government of that country that:

(a)

That it shall conclude as soon as possible with the Organization an agreement such as that referred to in paragraph 4 of this Article; and

(b)

Pending the conclusion of such an agreement, it shall grant the exemptions provided for in paragraph 5 of this Article.

7. The Council shall endeavour to conclude, before the transfer of the seat, the agreement referred to in paragraph 4 of this article with the Government of the country in which the seat of the Organization is to be transferred.

The supreme authority of the Organization is the International Sugar Council, which is composed of all Members of the Organization.

2. Each Member shall have a representative on the Council and, if he so wishes, one or more substitutes. Any Member may also add one or more councillors to his or her representative or to his alternates.

(1) The Council shall exercise all the powers and perform, or ensure the performance of, all the functions necessary for the implementation of the provisions of this Agreement and for the continuation of the liquidation of the Fund for the Financing of Stocks, Established under Article 49 of the International Sugar Agreement, 1977, as delegated by the Council of the said Agreement to the Council of the International Agreement of 1984 and the 1987 International Sugar Agreement ¹ , pursuant to article 8, paragraph 1, of the latter.

2. The Council shall adopt by a special vote the regulations necessary for the application of the provisions of this Agreement and compatible with them, in particular the rules of procedure of the Council and its committees, as well as the Rules of Procedure And the Staff Regulations of the Organization. The Council may, in its rules of procedure, provide for a procedure enabling it to take decisions on specific matters without meeting.

3. The Council shall collect and maintain the documentation required to carry out the functions conferred upon it by this Agreement and any other documentation it deems appropriate.

4. The Board shall publish an annual report and any other information it deems appropriate.

For each year, the Council shall elect from among the delegations a Chairman and a Vice-Chairperson, who may be re-elected and shall not be paid by the Organization.

2. In the absence of the President, his duties shall be borne by the Vice-President. In the event of a temporary absence of the President and the Vice-President, or in the event of a permanent absence of either or both, the Council may elect, among the delegations, new holders of such functions, temporary or permanent Depending on the case.

(3) Neither the President nor any other member of the Bureau chairing a meeting shall have the right to vote. They may, however, instruct another person to exercise the voting rights of the Member they represent.

As a general rule, the Council shall hold an ordinary session each year.

(2) In addition, the Council shall meet in extraordinary session if it so decides or if it is required:

(a)

By five Members;

(b)

By two or more Members holding together at least 250 votes under Article 11 and in accordance with the provisions of Article 25;

(c)

By the Administrative Committee.

3. The sessions of the Council shall be announced to Members at least 30 days in advance, except in emergencies, where the notice shall be at least 10 days.

The sessions shall be held at the headquarters of the Organization, unless the Council decides otherwise by a special vote. If a Member invites the Council to meet elsewhere than at the headquarters of the Organization and the Council so agrees, the Member shall bear the resulting additional costs.

For the purpose of exercising the right to vote under this Agreement, Members shall hold a total of 2000 votes in accordance with the provisions of Article 25.

(2) Where the voting rights of a Member are suspended under Article 26, paragraph 2, of this Agreement, its votes shall be distributed among the other Members on the basis of their shares as determined under Article 25. The same procedure shall be applied when the voting rights of the interested Member which are then included in the distribution are reinstated.

1. Each Member shall have, for the vote, the number of votes it holds under Article 11 and in accordance with the provisions of Article 25. He does not have the ability to divide those voices.

2. By written notification to the President, any Member may authorize any other Member to represent its interests and to use its votes at any meeting of the Council. A copy of these authorisations shall be subject to the examination of any Credentials Committee established pursuant to the rules of procedure of the Council.

(3) A Member authorized by another Member to use the votes held by the Member under Article 11 and in accordance with the provisions of Article 25 shall use those votes as authorized and in accordance with paragraph 2 of this Article.

The Council shall take all its decisions and make all its recommendations, in principle, by consensus. In the absence of consensus, all decisions and recommendations shall be adopted by a simple majority vote, unless this Agreement prescribes a special vote.

2. In the statement of votes necessary for the adoption of any decision of the Council, the votes of the Members who abstain are not taken into consideration and those Members shall not be considered to be "voting" for the purposes of definitions 4 or 5, If a Member invokes the provisions of paragraph 2 of Article 12 and its votes are used at a meeting of the Council, that Member shall be considered, for the purposes of paragraph 1 of this article, as present and voting.

3. Members shall be bound by all decisions taken by the Council in accordance with this Agreement.

The Council shall take all appropriate steps to consult or collaborate with the United Nations and its bodies, in particular the United Nations Conference on Trade and Development, and with The Food and Agriculture Organization of the United Nations and other specialized agencies of the United Nations and intergovernmental organizations as appropriate.

(2) The Council, having regard to the special role of the United Nations Conference on Trade and Development in the International Trade in Commodities, shall keep it, as appropriate, informed of its activities and programmes A job.

The Council may also take all appropriate measures to maintain effective contacts with international bodies of producers, traders and sugar manufacturers.

The Organization shall make the best use of the Common Fund mechanisms for commodities.

2. With regard to the implementation of any project pursuant to paragraph 1 of this article, the Organization shall not act as an enforcement agent and shall not assume any financial obligation under guarantees given by Members or by Other entities. Membership in the Organization shall not, for any Member, be responsible for borrowing or lending by any other Member or any other entity in connection with such projects.

The Council may invite any non-Member State to attend as an observer at any of its meetings.

(2) The Council may also invite to attend any of its meetings, as an observer, any organization referred to in paragraph 1 of Article 14.

The quorum required for any meeting of the Council shall be the presence of more than two-thirds of the Members, the Members thus present holding at least two-thirds of the total votes of all Members under Article 11 and Pursuant to the provisions of Article 25. If, on the day fixed for the opening of a session of the Council, the quorum is not attained, or if, during a session of the Council, the quorum is not attained in three consecutive meetings, the Council shall be convened seven days later; the quorum shall be Then, and for the remainder of the session, constituted by the presence of more than half of the Members, the Members thus present representing more than half of the total votes of all Members under Article 11 and in accordance with Provisions of Article 25. Any Member represented in accordance with paragraph 2 of Article 12 shall be considered to be present.

The Administrative Committee is composed of 18 Members. 10 Members are, in principle, Members paying the largest financial contributions each year, and 8 Members are elected from among the other Members of the Council.

2. If one or more of the ten Members paying the largest financial contributions each year do not wish to be automatically appointed to the Administrative Committee, this deficiency will be remedied by naming the largest contributor (s) Who agree to sit on the Committee. When these ten Members of the Administrative Committee have been appointed, the other eight Members of the Committee shall be elected from among the other Members of the Council.

3. The election of the 8 additional Members shall be held each year on the basis of the votes specified in Article 11 and in accordance with the provisions of Article 25. Members appointed to the Administrative Committee in accordance with the provisions of paragraphs 1 or 2 of this Article shall not take part in that election.

4. No Member shall sit on the Administrative Committee if he has not paid in full his contributions in accordance with Article 26.

5. Each Member of the Administrative Committee shall appoint a representative and may also appoint one or more alternates and advisers. In addition, all members of the Council may attend meetings of the Committee as observers and be invited to speak.

6. The Administrative Committee shall elect its Chairperson and Vice-Chairperson for each year. The President shall not have the right to vote; he shall be re-elected. In the absence of the President, his duties shall be exercised by the Vice-President.

7. The Administrative Committee normally meets three times a year.

8. The Administrative Committee shall meet at the headquarters of the Organization, unless it decides otherwise. If a Member invites the Committee to meet elsewhere than at the headquarters of the Organization and the Committee agrees, the Member shall bear the resulting additional costs.

The Members selected from among the Members paying the largest financial contributions each year shall, in accordance with the procedure referred to in Article 18, paragraphs 1 or 2, be appointed to the Administrative Committee.

2. The election of the eight additional Members of the Administrative Committee shall take place in the Council. Each eligible Member in accordance with the provisions of paragraphs 1, 2 and 3 of Article 18 shall relate to a single candidate all the votes available under Article 11 and in accordance with the provisions of Article 25. Any Member may refer to another candidate the votes which he or she is entitled to use under Article 12, paragraph 2. The eight candidates with the highest number of votes are elected.

3. If the exercise of the right to vote of a Member of the Administrative Committee is suspended under any of the relevant provisions of this Agreement, each Member who has voted in favour of that Member or who has given their votes In accordance with this Article may, during the period of suspension, give its votes to any other Member of the Committee.

4. If one of the Members who has been appointed to the Committee in accordance with the provisions of paragraphs 1 or 2 of Article 18 ceases to be a Member of the Organization, he shall be replaced by the next largest contributor who agrees to sit on the Committee and, if A vote shall be taken to elect an additional member of the Committee. If an elected Member ceases to be a Member of the Organization, an election shall be held to replace it. Any Member who has voted for the Member who has ceased to be a member of the Organization or has given its votes, and who does not vote in favour of the Member elected to fill the vacancy on the Committee, may give its votes to another Member of the Committee.

5. In special circumstances, and after consultation with the member of the Administrative Committee for which he has voted or has given his or her votes in accordance with the provisions of this Article, a Member may withdraw his votes to that member for The rest of the year. He may then assign these votes to another member of the Administrative Committee, but may not withdraw them for the remainder of the year. The member of the Administrative Committee to whom the votes were withdrawn shall retain its seat on the Committee for the remainder of the year. Any action taken pursuant to the provisions of this paragraph shall take effect after the Chairman of the Administrative Committee has been notified in writing.

The Council may, by special vote, delegate to the Administrative Committee all or part of its powers, with the exception of the following:

(a)

Choice of the headquarters of the Organization in accordance with article 3, paragraph 2;

(b)

Appointment of the Executive Director and any senior official in accordance with article 23;

(c)

The adoption of the administrative budget and the determination of contributions in accordance with article 25;

(d)

Any request made to the Secretary-General of the United Nations Conference on Trade and Development to convene a negotiating conference in accordance with article 35, paragraph 2;

(e)

Recommendation for amendment in accordance with Article 44;

(f)

Extension or termination of this Agreement under Article 45.

The Council may at any time revoke the delegation of any power to the Administrative Committee.

(1) Each Member of the Administrative Committee shall have, for the vote, the number of votes he has received pursuant to Article 19; he shall not divide those votes.

2. Any decision taken by the Administrative Committee shall require the same majority as if it were taken by the Council and shall be communicated to the Council.

(3) Any Member shall have the right to appeal to the Council, on such terms as the Council may define in its rules of procedure, any decision of the Administrative Committee.

For any meeting of the Administrative Committee, the quorum shall be the presence of more than half of the Members of the Committee, the Members thus present representing at least two-thirds of the total votes of all members of the Committee.

(1) The Council shall appoint the Executive Director by a special vote and shall determine its terms of engagement.

(2) The Executive Director shall be the chief executive officer of the Organization and shall be responsible for the performance of the tasks entrusted to him in the implementation of this Agreement.

(3) The Council shall, after consulting the Executive Director, also appoint any other senior official by a special vote, and shall determine its terms of engagement.

4. The Executive Director shall appoint the other staff members in accordance with the regulations and decisions of the Council.

The Council shall, in accordance with the provisions of Article 8, adopt the regulations defining the basic terms and conditions of employment and the basic rights, duties and obligations of all Members of the Secretariat.

6. Neither the Executive Director nor the other staff members shall have any financial interest in the sugar industry or trade.

7. In the performance of their duties under this Agreement, neither the Executive Director nor the other Staff Members shall seek or accept instructions from any Member or from any authority outside the Organization. They shall refrain from any action incompatible with their position as international officials responsible only to the Organization. Each Member shall respect the exclusively international character of the functions of the Executive Director and staff and shall not seek to influence them in the performance of their duties.

The expenses of the delegations to the Council, the Administrative Committee or any committee of the Council or of the Administrative Committee shall be borne by the Members concerned.

2. In order to cover the expenses required by the application of this Agreement, Members shall make an annual contribution as set out in Article 25. However, if a Member requests special services, the Council may request payment of such services.

Appropriate accounts shall be maintained for the administration of this Agreement.

For the purposes of this Article, Members shall hold 2000 votes.

2. A)

Each Member shall hold the number of votes specified in the Annex, adjusted as provided for in paragraph (d) below.

(b)

No Member has less than six votes.

(c)

There is no fractionation of votes. Numbers may be rounded during the calculations and to ensure that the total number of votes is allocated.

(d)

The votes indicated in the Annex which are not allocated at the time of entry into force of this Agreement shall be distributed among the Members other than those who have six votes as indicated in the Annex. Unassigned votes shall be divided according to the ratio between the number of votes cast in the Annex and the total number of votes of all Members with more than six votes.

3. The votes shall be reviewed annually in accordance with the following procedure:

(a)

Each year, including the year of entry into force of this Agreement, at the time of publication of Sugar directory By the International Sugar Organization, a composite tonnage base is calculated for each Member, which includes:

35 per cent of this Member's exports to the free market more

15 per cent of this Member's total exports under special arrangements plus

35 per cent of this Member's imports from the free market plus

15 per cent of this Member's total imports under special arrangements.

The data used to calculate the composite tonnage of each Member is, for each category mentioned above, the average of this category for the three highest years of the last four years covered by the most Recent of the Sugar directory Of the Organization. The share of each Member in the total composite tonnage bases of all Members shall be calculated by the Executive Director. All the above data are communicated to Members at the time the calculations are made.

(b)

For the second year after the entry into force of this Agreement and the following years, the votes of each Member shall be adjusted in accordance with the evolution of its share in the total composite tonnage of all Members in relation to The previous year.

(c)

Members who hold six votes shall only benefit from an upward adjustment under the provisions of subparagraph (b) above if their share of the total tonnage composite bases of all Members exceeds 0.3 per cent.

4. In the case of the accession of a Member or Members after the entry into force of this Agreement, the votes of that Member or Members shall be determined according to the Annex as adjusted in accordance with paragraphs 2 and 3 above. If the Members are not included in the Annex to this Agreement, the Council shall decide on the number of votes or to allocate them to it. After acceptance by the Member or Members not included in the Annex to the number of votes allocated to it by the Council, the votes of the existing Members shall be recalculated so that the total votes shall remain in 2000.

5. In the event of the withdrawal of one or more Members, the votes of those Members shall be distributed among the remaining Members in proportion to their share in the total votes of all the remaining Members so that the total votes of all Members From 2000.

6. Transitional arrangements:

(a)

The following provisions apply only to Members of the 1987 International Sugar Agreement ¹ As at 31 December 1992 and shall be limited to the first two calendar years following the entry into force of this Agreement (i.e. until 31 December 1994).

(b)

The total number of votes allocated to each Member in 1993 shall not exceed the number of votes held by that Member in 1992 under the 1987 International Sugar Agreement multiplied by 1.33 and, in 1994, the number of votes held by that Member In 1992 under the 1987 International Sugar Agreement multiplied by 1.66.

(c)

For the purpose of determining the amount of the contribution by vote, votes not allocated on the basis of the application of paragraph 6 (b) above shall not be apportioned among the other Members. Accordingly, the contribution per vote is determined on the basis of the total decrease of votes.

7. The provisions of paragraph 2 of Article 26, concerning the suspension of voting rights in the event of non-performance of obligations, shall not apply to this Article.

In the second half of each year, the Council shall adopt the administrative budget of the Organization for the following year and shall determine the amount of the contribution by votes of the Members required to finance the said budget, in the course of the two After taking into account the provisions of paragraph 6 of this article.

The contribution of each Member to the administrative budget shall be calculated by multiplying the contribution by voice by the number of votes it holds under this Article, namely:

(a)

For those who are Members at the time of final adoption of the administrative budget, the number of votes they hold;

(b)

For those who become Members after the adoption of the administrative budget, the number of votes they receive at the time of accession, adjusted according to the unexpired portion of the period of application of the budget or budgets; contributions Requested from other Members remain unchanged.

If this Agreement enters into force more than eight months before the beginning of its first full year, the Council shall, at its first session, adopt an administrative budget for the period up to the beginning of this first full year. In other cases, the first administrative budget covers both the initial and the first full years.

11. The Council may, by special vote, take such measures as it deems appropriate to mitigate the effects, on the amount of the contributions of Members, of any participation that may be reduced at the time of adoption of the administrative budget for the The first year of application of this Agreement or any significant decrease in such participation that may occur thereafter.

Members shall contribute to the administrative budget of each year in accordance with their constitutional procedure. Contributions to the administrative budget of each year shall be payable in freely convertible currencies and shall be payable on the first day of the year; Members' contributions for the year in which they become Members of The Organization is due on the date on which they become due.

(2) If a Member fails to pay its full contribution to the administrative budget within four months of the date on which its contribution is due under paragraph 1 of this article, the Executive Director shall To make the payment as soon as possible. If, at the end of a period of two months from the date of the request of the Executive Director, the Member in question has still not paid his contribution, his voting rights to the Council and the Administrative Committee shall be suspended until payment The full contribution.

(3) The Council may decide, through a special vote, that a Member who has not paid its contribution for two years shall cease to enjoy the rights granted to Members or cease to be taken into account for the purposes of the budget. This Member shall continue to pay its contribution and assume all other financial obligations under this Agreement. When it rules its arrears, it is restored to its rights. Any payment made by Members in arrears shall be deducted first from their arrears and not from their current contributions.

As soon as possible after the end of each year, the financial accounts of the Organization for that year, certified by an independent auditor, shall be submitted to the Council for approval and publication.

The Members undertake to take the necessary measures to fulfil the obligations imposed by this Agreement and to cooperate fully with a view to achieving its objectives.

Members shall ensure that working conditions are good in their sugar industry and shall endeavour, as far as possible, to improve the standard of living of agricultural workers and workers in the various branches of the Sugar production, as well as cane and sugar beet growers.

Members shall take due account of the ecological aspects at all stages of sugar production.

The financial obligations of each Member vis-à-vis the Organization and other Members shall be limited to its obligations concerning contributions to administrative budgets adopted by the Council in the context of this Agreement.

1. The Organization serves as a centre for the gathering and publication of statistical information and studies on production, prices, exports and imports, consumption and stocks of sugar (both for raw sugar and Refined sugar) and other sweeteners, as well as sugar and other sweetening taxes, worldwide.

(2) Members undertake to provide to the Organization, within such time limits as the rules of procedure may fix, all available statistics and information which, according to the rules of procedure, are necessary for the performance of the Of the functions conferred upon it by this Agreement. Where appropriate, the Organization shall use relevant information from other sources. The Organization does not publish any information that would identify the operations of individuals or companies that produce, process or dispose of sugar.

The Council shall establish a Committee on the Situation of the Market for Sugar, Consumption and Statistics, composed of all Members and chaired by the Executive Director.

2. The Committee continuously examines issues relating to the world economy of sugar and other sweeteners and communicates the outcome of its deliberations to Members. To this end, it normally meets twice a year. The Committee shall take into account, in its examination, all relevant information gathered by the Organization pursuant to article 32.

The Committee is responsible for the following tasks:

(a)

Establishment of sugar statistics and statistical analysis of production, consumption, stocks, international trade and sugar prices;

(b)

Analysis of market behaviour and the factors affecting it, particularly with regard to the participation of developing countries in world trade;

(c)

Analysis of the demand for sugar and the effects of the use of natural or artificial substitutes, in any form, on world sugar consumption and trade;

(d)

Consideration of other matters approved by the Council.

The Council shall consider each year a draft programme of work, together with estimates of the necessary resources, which shall be prepared by the Executive Director.

In order to achieve the objectives set out in Article 1, the Council may provide assistance both for research on the sugar economy and for the dissemination of the results obtained in this field. To this end, the Council may cooperate with international organisations and research organisations, provided that there is no additional financial obligation.

The Council may examine the possibility of negotiating a new international agreement on sugar, including a possible agreement that would contain economic provisions, report to Members and develop the recommendations it deems appropriate.

2. The Council may, as soon as it deems it appropriate, request the Secretary-General of the United Nations Conference on Trade and Development to convene a negotiating conference.

The Secretary-General of the United Nations shall be designated as the depositary of this Agreement.

This Agreement shall be open, at United Nations Headquarters, of 1 ^Er May to 31 December 1992, at the signature of any Government invited to the United Nations Conference on Sugar, 1992.

(1) This Agreement shall be subject to ratification, acceptance or approval by signatory governments in accordance with their constitutional procedure.

2. Instruments of ratification, acceptance or approval shall be deposited with the depositary on 31 December 1992 at the latest. The Council may, however, grant time limits to signatory governments that have not been able to deposit their instruments on that date.

1. A signatory government that intends to ratify, accept or approve this Agreement, or a government for which the Council has established conditions of accession but has not yet been able to deposit its instrument, may at any time Notify the depositary that it will apply this Agreement provisionally, either when it enters into force in accordance with Article 40, or, if it is already in force, at a specified date.

2. A government which has notified, in accordance with paragraph 1 of this Article, that it will apply this Agreement when it enters into force or, if it is already in force, on a specified date, is therefore a provisional Member until that date. Shall deposit its instrument of ratification, acceptance, approval or accession and thus become a Member.

1. This Agreement shall enter into force on a final basis on 1 ^Er January 1993, or at any later date if, on that date, instruments of ratification, acceptance, approval or accession have been deposited on behalf of governments holding 60 per cent of the votes according to the distribution set out in the schedule to the Agreement.

2. If, at 1 ^Er January 1993, this Agreement has not entered into force in accordance with paragraph 1 of this Article, it shall enter into force provisionally, if, on that date, instruments of ratification, acceptance or approval, or notifications Provisional application has been filed on behalf of governments fulfilling the percentage terms and conditions set out in paragraph 1 of this Article.

3. If, at 1 ^Er January 1993, the percentages required for the entry into force of this Agreement, in accordance with paragraph 1 or paragraph 2 of this Article, shall not be attained, the Secretary-General of the United Nations shall invite the Governments on whose behalf an instrument of ratification, acceptance or approval or notification of provisional application has been deposited, to decide whether this Agreement shall enter into force between them, on a final basis or in title And, in whole or in part, on the date they may fix. If the Agreement has entered into force provisionally in accordance with the provisions of this paragraph, it will subsequently enter into force on a final basis as soon as the conditions set out in paragraph 1 of this Article are fulfilled, without That it is necessary to make another decision.

4. For any Government on whose behalf an instrument of ratification, acceptance, approval or accession, or notification of provisional application, is deposited after the entry into force of this Agreement in accordance with paragraphs 1, 2 or 3 Of this Article, the instrument or notification shall take effect on the date of filing and, in respect of the notification of provisional application, in accordance with the provisions of paragraph 1 of Article 39.

The Governments of all States may accede to this Agreement on the terms and conditions which the Council determines. Upon accession, a State shall be deemed to be included in the Annex to this Agreement, with an indication of the number of votes available to it under those conditions of accession. Accession shall be made by the deposit of an instrument of accession with the depositary. The instruments of accession must indicate that the Government accepts all the conditions laid down by the Council.

(1) Any Member may withdraw from this Agreement at any time after the entry into force of this Agreement by notifying the depositary in writing. This Member shall simultaneously notify the Council, in writing, of the decision it has taken.

2. Withdrawal under this Article shall take effect 30 days after receipt of the notification by the depositary.

(1) The Council shall, under such conditions as it considers equitable, liquidating the accounts of a Member which has withdrawn from this Agreement or which has otherwise ceased to be a Party to this Agreement. The Organization shall retain the amounts already paid by the said Member. The Secretary-General is required to pay any amount owed to the Organization.

(2) At the end of this Agreement, a Member in the situation referred to in paragraph 1 of this Article shall not be entitled to any part of the proceeds of liquidation or other assets of the Organization; nor shall he have to cover any part thereof The potential deficit of the Organization.

The Council may, by special vote, recommend to Members an amendment to this Agreement. It may fix the date on which each Member notifies the depositary that it accepts the amendment. The amendment shall take effect 100 days after the depositary has received notifications of acceptance from Members holding at least two thirds of the total number of votes of all Members under Article 11 and in accordance with the provisions of Article 25, or at a later date than the Council may have fixed by a special vote. The Council may assign Members a period of time to inform the depositary that they accept the amendment; if the amendment has not entered into force on the expiry of that period, it shall be deemed to have been withdrawn. The Commission shall provide the depositary with the information necessary to determine whether the notifications of acceptance received are sufficient for the amendment to take effect.

(2) Any Member, on whose behalf it has not been made a notification of acceptance of an amendment on the date on which the amendment takes effect, ceases, as of that date, to be a Party to this Agreement, unless that Member has proved to the Council that it has May have accepted the amendment in due time as a result of difficulties encountered in completing its constitutional procedure, and the Council shall not decide to extend the acceptance period for that Member. This Member is not bound by the amendment until it has notified its acceptance of the amendment.

(1) This Agreement shall remain in force until 31 December 1995, unless it is extended under paragraph 2 of this article or has been terminated in accordance with paragraph 3 of that article.

(2) The Council may, by special vote, extend this Agreement beyond 31 December 1995, for successive periods not exceeding two years each time. ¹ Members who do not accept such an extension shall notify the Council in writing and shall cease to be a Party to this Agreement from the beginning of the extension period.

The Council may, at any time, by a special vote, decide to terminate this Agreement from the date and the conditions of its choice.

(4) At the end of this Agreement, the Organization shall continue to exist for as long as necessary to wind up its liquidation; it shall have the powers and perform the functions necessary for that purpose.

The Council shall notify the depositary of any decision taken under paragraph 2 or paragraph 3 of this Article.

1. If, in accordance with the 1987 International Sugar Agreement ¹ , the consequences of any action taken or to be taken, or its omission, shall be felt, for the purposes of the operation of the Agreement referred to above, for a subsequent year, those consequences shall have the same effect under this Agreement as if Provisions of the 1987 Agreement remained in force for these purposes.

2. The administrative budget of the Organization for 1993 will be provisionally approved by the Council of the International Sugar Agreement, 1987 at its last regular session of 1992, subject to final approval by the Council of the present Agreement at its first session in 1993.

In witness whereof, The undersigned, duly authorized to that effect, have signed this Agreement on the dates indicated.

Done at Geneva on 20 March, ninety-nine hundred and ninety-two.

The texts of this Agreement in Arabic, Chinese, English, French, Russian and Spanish are equally authentic.

(Suivent signatures)