Article Eleven: Suspension and Termination of the Fund’s Operations
11.01 The Ministerial Council may decide to suspend or terminate the operations of the Fund at any time by a four-fifths majority of its members representing Members contributing at least four- fifths of the contributions to the Fund. The proposal to suspend or terminate operations shall not be put to the vote in the same session in which it is submitted. 11.02 In the event of termination of the operations of the Fund, the liability of all Members for uncalled contributions to the Fund’s resources shall continue until all claims of creditors including all contingent claims, shall have been discharged. No distributions of assets shall be made to Members on account of their contri- butions to the Fund’s resources until all liabilities to creditors shall have been discharged or provided for. 11.03 The Governing Board shall undertake the consequential liqui- dation proceedings either by itself or through a committee of liquidators appointed by it. Distribution of assets of the Fund among Members shall be in proportion to the contribution made by each Member to the Fund, and shall be effected at such times and under such conditions as the Governing Board shall determine.
Article Twelve: Interpretation and Settlement of Disputes
12.01 Any question of interpretation of the provisions of this Agreement, or any dispute between the Members of the Fund or between an Executing National Agency and the Fund, shall be settled by the Governing Board and failing this by the Ministerial Council.
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