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Statute

Article 5 Management of the Association and of  its Executive Office


5.1 Administration of the Association is carried out by:
the Convention of the Association;
the Council of the Association;
the President of the Association
For the purpose of the President’s fulfilling his obligations charged with him there is founded an executive body of the Association.

5.2 The Convention is the superior body of the Association. All members of the Association  have the right to participate in the work of the Convention by way of delegating their representatives to it.

5.3 A successive Convention is to be summoned not less than one time per year and not later than July 1 of the current year.

5.4 An extraordinary Convention is summoned at the decision of the Council of the Association as well as on demand of not less than one third of the members of the Association. In order to have the extraordinary Convention summoned on demand of banks-members of the Association they must address a joint written application to the Head of the Council of the Association not later than 30 days before from the moment of receiving a written application of banks as to summoning the extraordinary Convention.

5.5 The Convention is regarded as competent if it records not less than a half of representatives of members of the Association. Decisions at the Convention are passed by a qualified majority of votes of the representatives of Association members attending the Convention on the following issues:
adoption of the Statute of the Association and introducing amendments thereto;
passing a resolution as to discontinuation of activity of the Association;
financing joint projects.
Resolutions of the Convention of the Association on all issues are passed by a simple majority of votes of the representatives of Association members attending the Convention.

5.6 The Convention is authorized to:
approve the Statute of the Association and introduce amendments thereto;
consider and approve reports of the Council, the President and those of the Auditing Committee of the Association;
approve resolutions of the Council as to members’ inclusion to and expulsion from it;
approve prime guidelines of activity of the Association and consider the issues proposed by its members;
ascertain the extent and deadlines of payment of entrance and membership fees;
elect for the period of four years the Head of the Council and the President of the Association;
determine quantitative membership and to elect for the period of four years members of the Council and those of the  Auditing Committee  along with updating its personal composition not less than by 30%;
delegate its certain authorities to the Council or the President of the Association.

5.7 Administration of the Association within the period between Conventions is to be effected by the Council of the Association.
The Council acts on the basis of the Statute and the Rules of Procedure of the Council to be approved by the latter.
Bank directors, Presidents of regional bank associations being members of the Association can be elected members of the Council of the Association. The President and the First Vice President are members of the Council of the Association by virtue of their position.
Members of the Council of the Association fulfill their obligations by way of performing honorary duties.
In case of withdrawal of a member of the Association from its membership prior to the termination of the period for which he was elected a new member is to be elected by the Convention. In case of self-removal of a Council member from the work of the Council, repeated non-participation in the Council’s sessions, this member of the Council can be prematurely re-elected by the Convention upon submission of the Head of the Council.

5.8 The Council of the Association:
summons the Convention of the Association, defines its agenda as well as the venue and time of its conduction;
introduces for the Convention’s consideration a draft of main guidelines of activities of the Association for the current year;
controls implementation of the Convention’s decisions as well as the implementation of main guidelines of activity of the Association approved by the Convention;
decides as to admission to membership of the Association or expulsion therefrom members on the basis and in accordance with the procedure stipulated in Clauses 3.3 and 3.4 of the Statute;
approves the Association and its executive body’s maintenance expenditure;
ascertains the extent of the Association President and Vice President’s salary;
approves the Regulation as to bonusing associates of the executive body of the Association and paying annualizing awards to them;
at the suggestion of the President the Association appoints Vice Presidents of the Association, defines current tasks and controls its implementation;
contributes to the activities of the Arbitrage Court of the Association;
defines the procedure of paying membership fees for the members of the Association that are admitted in a consultative capacity, approves the Sample Application for Admission to AUB.

5.9 Head of the Council of the Association:
represents the Association in agencies of State power and State administration, in public and international organization;
is a representative plenipotentiary of national banking communities and the Association in relations with foreign banks, their associations and other foreign organizations;
presides over conventions and sessions of the Council of the Association;
effects current control over the implementation by its executive body of decisions of conventions and those of the Council of the Association;
introduces proposals as to candidacies for the position of the President and members of the Council of the Association.

5.10 The President of the Association:
is in charge of the executive body of the Association;
has Resolutions of conventions and those of the Council of the Association fulfilled;
represents the Association’s executive body in agencies of State power and State administration, in public and international organizations as well as in its relations with foreign partners;
notifies the members of the Association as to the time and venue of conducting a Convention as well as its agenda not later than 30 days prior to the event;
disposes of finance and property of the Association;
sets up appropriate subdivisions of the executive body and appoints their administrators;
within the approved estimate of the salary fund defines the structure, staff quantity and salaries of the associates of the executive body of the Association;
decides as to employing, dismissing and bonusing associates of the executive body of the Association;
submits to the Council for approval candidacies for the position of Vice Presidents;
concludes on behalf of the Association  agreements and in his own name gives instructions as to acquiring tangibles;
establishes both current and other accounts with banks, signs with the first signature financial and settlements documents;
maintains contacts with bank associations abroad and their organizations;
makes proposals as to candidacies of the Head and judges of the Arbitrage Court of the Association.
The President of the Association reserves the right to delegate his authorities to Vice Presidents as well as other associates of the executive body of the Association.

5.11 The Executive Board of Administrators is the executive body of the Association, which maintains the Association’s current activities. The President governs the Executive Board of Administrators and he is elected by the Convention of the Association. The Executive Board of Administrators acts on the basis of “Provision on the Board of Executive Administrators” to be approved by the Council of the Association.


 
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