Destination of resources when the Trust Sample Clauses

Destination of resources when the Trust. Fund is wound up (a) the Manager may not undertake any new activities other than those necessary for the orderly realisation, conservation and preservation of the Trust Fund’s resources and the fulfilment of the contractual obligations in respect of the Trust Fund; (b) the Manager shall establish appropriate financial statements, which shall be subject to the audit procedure referred to in Article 11. These audited financial statements shall then be submitted to the Operational Committee for approval; (c) the Chair of the Trust Fund Board shall submit the Board’s proposal concerning the winding-up of the Trust Fund to the Commission for a decision; (d) the Trust Fund Board shall discuss possible uses of the funds available and not yet committed at the time of the winding-up. Any remaining funds shall be returned, on a pro rata basis, to the general budget of the Union, as general revenue, to the EDF; and to the donors.
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Destination of resources when the Trust. Fund is wound up

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