Publication: Magyar Közlöny
Issue: MK-2005-106 (Year: 2005, Number: 106)
Era: 2004-2010
Section: 2. melléklet a 63/2005. (VII. 29.) GKM rendelethez
Paragraph Index: 331

2. Working Capital Fund (a) A Working Capital Fund shall be established, the amount of which is to be fixed by the Assembly. Advance contributions of Members and any other receipts which the Assembly decides may be so used, shall be paid into the Working Capital Fund. When required, amounts therefrom shall be transferred to the General Fund. (b) The purpose of the Working Capital Fund shall be to advance moneys to the General Fund to finance budgetary expenditure pending receipt of contributions and, with prior authorization of the Executive Council for each particular case, to meet unforeseen needs and exceptional circumstances. (c) In addition to its first membership contribution made pursuant to regulation 6, in an amount to be determined by the Assembly, each Member shall make an advance contribution to be transferred to the Working Capital Fund. The moneys so derived from new Members shall, unless the Assembly decides otherwise, be considered as an increase to the level of the Working Capital Fund. Advance contributions made by a Member to the Fund shall be carried to the credit of that Member in the Fund. (d) When the amount of the Working Capital Fund, as determined by the Assembly, exceeds, in the opinion of the Assembly, the amount required for the purposes stated in paragraph 2(b) of this regulation, any excess of credits due to Members shall be released immediately from the Working Capital Fund and applied, first, to contributions in arrears; secondly, to current contributions; thirdly, refunded or applied against future contributions, at the option of the Member concerned. (e) Advances made from the Working Capital Fund to finance budgetary expenditure under the present regulation 10(2)(b) shall be reimbursed from the General Fund as soon as and to the extent that income is available for that purpose, but in any case within the next financial period. (f) If a Member withdraws its membership in the Organization, any credit it may have in the Working Capital Fund shall be used towards liquidation of any financial obligation such a Member may have to the Organization. Any residual balance shall be refunded to the withdrawing Member. (g) Income derived from the investment, as defined in regulation 12(1), of funds held in the Working Capital Fund shall be regarded as „miscellaneous income” of the Organization and shall accrue to the General Fund.

Source: https://magyarkozlony.hu/hivatalos-lapok/a84160c1b12538c19e475d54203fd08606588a93/dokumentumok/d318235256e8b3da7cedb306ad9ac064bb25ebe3/letoltes