Common use of Governance Board Clause in Contracts

Governance Board. The Governance Board shall be comprised of one representative appointed by Australia and two representatives appointed by Timor-Leste. The representatives on the Governance Board shall not have any direct financial or other commercial interest in the operation of the Greater Sunrise Special Regime that would create any reasonable perception of, or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on the Governance Board. The Governance Board shall have the following powers and functions: providing strategic oversight over the Greater Sunrise Special Regime; establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; reporting requirements of the Designated Authority in accordance with Article 6(3)(b) of this Annex; and engaging an independent qualified firm to conduct an annual audit in accordance with international auditing standards so as to provide a high level of assurance over the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; making decisions on Strategic Issues referred to it under Article 6(4) of this Annex, in accordance with paragraphs 5 and 6 of this Article; approving amendments to the Interim Petroleum Mining Code and any regulations thereunder; approving the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; other than as necessary for Strategic Issues, meet three times a year with the Designated Authority and receive reports under Article 6(3)(b) of this Annex; and conferring any additional powers and functions on the Designated Authority. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and approval of the construction and operation of a Pipeline. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committee.

Governance Board. 1. The Governance Board shall be comprised of one representative appointed by Australia and two representatives appointed by Timor-Leste. The representatives on the Governance Board shall not have any direct financial or other commercial interest in the operation of the Greater Sunrise Special Regime that would create any reasonable perception of, or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on the Governance Board. 2. The Governance Board shall have the following powers and functions: : (a) providing strategic oversight over the Greater Sunrise Special Regime; ; (b) establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: : (i) issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; ; (ii) reporting requirements of the Designated Authority in accordance with Article 6(3)(b) of this Annex; and and (iii) engaging an independent qualified firm to conduct an annual audit in accordance with international auditing standards so as to provide a high level of assurance over the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; ; (c) making decisions on Strategic Issues referred to it under Article 6(4) of this Annex, in accordance with paragraphs 5 and 6 of this Article; ; (d) approving amendments to the Interim Petroleum Mining Code and any regulations thereunder; ; (e) approving the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; ; (f) other than as necessary for Strategic Issues, meet three times a year with the Designated Authority and receive reports under Article 6(3)(b) of this Annex; and and (g) conferring any additional powers and functions on the Designated Authority. 3. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: : (a) assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; ; (b) approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; ; (c) approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and and (d) approval of the construction and operation of a Pipeline. 4. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. 5. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. 6. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. 7. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committee.

Governance Board. The A Governance Board consisting of staff, parents, and community members will govern the school (the “WCA Governance Board”). The WCA Governance Board will determine and oversee the mission and strategic plan, coordinate public relations strategies, establish policies as well as, oversee and approve the budget of the school subject to the terms of this Agreement and specific authorization by AASD. No individual member of a Charter School Governance Board has the right or authorization to individually exercise the rights listed below. The WCA Governance Board will convene a parent advisory council, which shall meet on a regular basis, and the selection process for which shall be comprised of one representative appointed determined by Australia and two representatives appointed by Timor-Leste. The representatives on the WCA Governance Board shall not have any direct financial or other commercial interest in the operation of the Greater Sunrise Special Regime that would create any reasonable perception of, or actual, conflict of interest, and they shall disclose details of any material personal interest in connection consistent with their position on the Governance BoardWis. Stat. §118.40(8)(e). The Governance Board shall have has the following powers rights, subject to the terms and functions: providing strategic oversight over the Greater Sunrise Special Regime; establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; reporting requirements of the Designated Authority in accordance with Article 6(3)(b) limitations of this Annex; and engaging an independent qualified firm Charter Agreement, necessary pursuant to conduct an annual audit in accordance with international auditing standards so as state law to provide a high level of assurance over carry out the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; making decisions on Strategic Issues referred to it under Article 6(4) terms of this AnnexCharter Agreement, including: 1) to determine and oversee the mission and strategic plan; 2) to set the educational philosophy of WCA; 3) to establish and oversee curriculum; 4) to establish and oversee school guidelines and policies not to exceed its authority granted herein; 5) to oversee and approve the school budget not to exceed its authority granted herein; 6) to coordinate public relations strategies; 7) to make recommendations related to employment decisions within the current supervision and evaluation process for AASD employees; 8) to ensure compliance with this Agreement not to exceed its authority granted herein; 9) to appoint the requisite number of WCA members to its committees, in accordance with paragraphs 5 WCA bylaws; 10) to receive and 6 disburse funds, subject to Section 13 of this ArticleAgreement; 11) to secure appropriate insurance, which it has done pursuant to Section 18 of this Agreement; 12) to enter contracts for technical or financial assistance, academic support, curriculum review or other services, which it has done and is subject to Section 13 of this Agreement; 13) to incur debt in reasonable anticipation of funds, subject to Section 13 of this Agreement; 14) to pledge, assign or encumber its assets to be used for loans, subject to Sections 13, 18 and 19 of this Agreement; 15) to solicit and accept gifts or grants for school purposes, subject to Sections 13 and 18 of this Agreement; 16) to acquire real property for its use, subject to Sections 13, 18 and 19 of this Agreement; approving amendments and 17) to sue and be sued in its own name, subject to limitations under this Agreement and state law. 18) Such other matters as the WCA may deem necessary or appropriate with regard to the Interim Petroleum Mining Code and any regulations thereunder; approving operations or affairs of WCA, but not to exceed the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; other than as necessary for Strategic Issues, meet three times a year with authority granted by the Designated Authority and receive reports AASD under Article 6(3)(b) the terms of this Annex; Agreement and conferring any additional powers state and functions on the Designated Authority. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and approval of the construction and operation of a Pipeline. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committeefederal law.

Governance Board. The A Governance Board shall be comprised consisting of one representative appointed by Australia staff, parents, and two representatives appointed by Timor-Lestecommunity members will govern the school (RSA Governance Board”). The representatives on the RSA Governance Board shall not have any direct financial or other commercial interest in will determine and oversee the operation mission and strategic plan, coordinate public relations strategies, establish policies as well as, oversee and approve the budget of the Greater Sunrise Special Regime that would create any reasonable perception of, school subject to the terms of this Agreement and specific authorization by AASD. No individual member of a Charter School Governance Board has the right or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on authorization to individually exercise the Governance Boardrights listed below. The Governance Board shall have has the following powers rights, subject to the terms and functions: providing strategic oversight over the Greater Sunrise Special Regime; establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; reporting requirements of the Designated Authority in accordance with Article 6(3)(b) limitations of this Annex; and engaging an independent qualified firm Charter Agreement, necessary pursuant to conduct an annual audit in accordance with international auditing standards so as state law to provide a high level of assurance over carry out the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; making decisions on Strategic Issues referred to it under Article 6(4) terms of this AnnexCharter Agreement, including: 1) to determine and oversee the mission and strategic plan; 2) to set the educational philosophy of RSA 3) to establish and oversee curriculum; 4) to establish and oversee school guidelines and policies not to exceed its authority granted herein; 5) to oversee and approve the school budget not to exceed its authority granted herein; 6) to coordinate public relations strategies; 7) to make recommendations related to employment decisions within the current supervision and evaluation process for AASD employees; 8) to ensure compliance with this Agreement not to exceed its authority granted herein; 9) to appoint the requisite number of RSA Charter Board members to its committees, in accordance with paragraphs 5 RSA bylaws; 10) to receive and 6 disburse funds, subject to Section 13 of this ArticleAgreement; 11) to secure appropriate insurance, which it has done pursuant to Section 18 of this Agreement; 12) to enter contracts for technical or financial assistance, academic support, curriculum review or other services, which it has done and is subject to Section 13 of this Agreement; 13) to incur debt in reasonable anticipation of funds, subject to Section 13 of this Agreement; 14) to pledge, assign or encumber its assets to be used for loans, subject to Sections 13, 18 and 19 of this Agreement; 15) to solicit and accept gifts or grants for school purposes, subject to Sections 13 and 18 of this Agreement; 16) to acquire real property for its use, subject to Sections 13, 18 and 19 of this Agreement; approving amendments and 17) to sue and be sued in its own name, subject to limitations under this Agreement and state law. 18) Such other matters as RSA may deem necessary or appropriate with regard to the Interim Petroleum Mining Code and any regulations thereunder; approving operations or affairs of RSA but not to exceed the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; other than as necessary for Strategic Issues, meet three times a year with authority granted by the Designated Authority and receive reports AASD under Article 6(3)(b) the terms of this Annex; Agreement and conferring any additional powers state and functions on the Designated Authority. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and approval of the construction and operation of a Pipeline. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committeefederal law.

Governance Board. 1. The Governance Board shall be comprised of one representative appointed by Australia and two representatives appointed by Timor-LesteLeste and one representative appointed by Australia. The representatives on the Governance Board shall not have any direct financial or other commercial interest in the operation of the Greater Sunrise Special Regime that would create any reasonable perception of, or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on the Governance Board. 2. The Governance Board shall have the following powers and functions: : (a) providing strategic oversight over the Greater Sunrise Special Regime; ; (b) establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: : (i) issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; ; (ii) reporting requirements of the Designated Authority in accordance with Article 6(3)(b) of this Annex; and and (iii) engaging an independent qualified firm to conduct an annual audit in accordance with international auditing standards so as to provide a high level of assurance over the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; ; (c) making decisions on Strategic Issues referred to it under Article 6(4) of this Annex, in accordance with paragraphs 5 and 6 of this Article; ; (d) approving amendments to the Interim Petroleum Mining Code and any regulations thereunder; ; (e) approving the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; ; (f) other than as necessary for Strategic Issues, meet three times a year with the Designated Authority and receive reports under Article 6(3)(b) of this Annex; and and (g) conferring any additional powers and functions on the Designated Authority. 3. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: : (a) assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; ; (b) approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; ; (c) approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and and (d) approval of the construction and operation of a Pipeline. 4. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. 5. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. 6. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. 7. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committee.

Governance Board. The A Governance Board shall be comprised consisting of one representative appointed by Australia staff, parents, and two representatives appointed by Timor-Lestecommunity members will govern the school (the “Xxxxxxx Xxxxxx Elementary Charter School Governance Board”). The representatives on the Xxxxxx Elementary Governance Board shall not have any direct financial or other commercial interest in will determine and oversee the operation mission and strategic plan, coordinate public relations strategies, establish policies as well as, oversee and approve the budget of the Greater Sunrise Special Regime that would create any reasonable perception of, school subject to the terms of this Agreement and specific authorization by AASD. No individual member of a Charter School Governance Board has the right or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on authorization to individually exercise the Governance Boardrights listed below. The Governance Board shall have has the following powers rights, subject to the terms and functions: providing strategic oversight over the Greater Sunrise Special Regime; establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; reporting requirements of the Designated Authority in accordance with Article 6(3)(b) limitations of this Annex; and engaging an independent qualified firm Charter Agreement, necessary pursuant to conduct an annual audit in accordance with international auditing standards so as state law to provide a high level of assurance over carry out the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; making decisions on Strategic Issues referred to it under Article 6(4) terms of this AnnexCharter Agreement including: 1) To determine and oversee the mission and strategic plan; 2) To set the educational philosophy of Xxxxxx Elementary as set forth in Appendix A; 3) To establish and oversee curriculum; 4) To establish and oversee school guidelines and policies not to exceed its authority granted herein; 5) To oversee and approve the school budget not to exceed its authority granted herein; 6) To coordinate public relations strategies; 7) To make recommendations related to employment decisions within the current supervision and evaluation process for AASD employees; 8) To ensure compliance with this Agreement not to exceed its authority granted herein; 9) To appoint the requisite number of 2 members to its committees, in accordance with paragraphs 5 Xxxxxx Elementary bylaws (See Appendix B for the current bylaws); 10) to receive and 6 disburse funds, subject to Section 13 of this ArticleAgreement; 11) to secure appropriate insurance, which it has done pursuant to Section 18 of this Agreement; 12) to enter contracts for technical or financial assistance, academic support, curriculum review or other services, which it has done and is subject to Section 13 of this Agreement; 13) to incur debt in reasonable anticipation of funds, subject to Section 13 of this Agreement; 14) to pledge, assign or encumber its assets to be used for loans, subject to Sections 13, 18 and 19 of this Agreement; 15) to solicit and accept gifts or grants for school purposes, subject to Sections 13 and 18 of this Agreement; 16) to acquire real property for its use, subject to Sections 13, 18 and 19 of this Agreement; approving amendments and 17) to sue and be sued in its own name, subject to limitations under this Agreement and state law. 18) Such other matters as the Xxxxxx Elementary Board may deem necessary or appropriate with regard to the Interim Petroleum Mining Code and any regulations thereunder; approving operations or affairs of Xxxxxx Elementary, but not to exceed the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; other than as necessary for Strategic Issues, meet three times a year with authority granted by the Designated Authority and receive reports AASD under Article 6(3)(b) the terms of this Annex; Agreement and conferring any additional powers state and functions on the Designated Authority. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and approval of the construction and operation of a Pipeline. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committeefederal law.

Governance Board. The A Governance Board shall be comprised consisting of one representative appointed by Australia and two representatives appointed by Timor-Lestestaff, parents, and/or community members will govern the school (the “CCSA Governance Board”). The representatives on the CCSA Governance Board shall not have any direct financial or other commercial interest in will determine and oversee the operation mission and strategic plan, coordinate public relations strategies, and establish policies, as well as oversee and approve the budget of the Greater Sunrise Special Regime that would create any reasonable perception ofschool, subject to the terms of this Agreement except as prohibited by the AASD. No individual member of a charter school Governance Board has the right or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on authorization to individually exercise the Governance Boardrights listed below. The Governance Board shall have has the following powers rights, subject to the terms and functions: providing strategic oversight over the Greater Sunrise Special Regime; establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; reporting requirements of the Designated Authority in accordance with Article 6(3)(b) limitations of this Annex; and engaging an independent qualified firm Charter Agreement, necessary pursuant to conduct an annual audit in accordance with international auditing standards so as state law to provide a high level of assurance over carry out the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; making decisions on Strategic Issues referred to it under Article 6(4) terms of this AnnexCharter Agreement including: 1) To determine and oversee the mission and strategic plan; 2) To set the educational philosophy of Classical School as set forth in Appendix A; 3) To establish and oversee curriculum; 4) To establish and oversee school guidelines and policies not to exceed its authority granted herein; 5) To oversee and approve the school budget not to exceed its authority granted herein; 6) To coordinate public relations strategies; 7) To participate in interviews as appropriate and make recommendations related to employment decisions within the current supervision and evaluation process for AASD employees; 8) To ensure compliance with this Agreement not to exceed its authority granted herein; 9) To appoint the requisite number of CCSA members to its committees, in accordance with paragraphs 5 CCSA bylaws (See Appendix B for the current bylaws); 10) to receive and 6 disburse funds, subject to Section 13 of this ArticleAgreement; 11) to secure appropriate insurance, which it has done pursuant to Section 18 of this Agreement; 12) to enter contracts for technical or financial assistance, academic support, curriculum review or other services, which it has done and is subject to Section 13 of this Agreement; 13) to incur debt in reasonable anticipation of funds, subject to Section 13 of this Agreement; 14) to pledge, assign or encumber its assets to be used for loans, subject to Sections 13, 18 and 19 of this Agreement; 15) to solicit and accept gifts or grants for school purposes, subject to Sections 13 and 18 of this Agreement; 16) to acquire real property for its use, subject to Sections 13, 18 and 19 of this Agreement; approving amendments and 17) to xxx and be sued in its own name, subject to limitations under this Agreement and state law. 18) Such other matters as the CCSA may deem necessary or appropriate with regard to the Interim Petroleum Mining Code and any regulations thereunder; approving operations or affairs of Classical School, but not to exceed the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; other than as necessary for Strategic Issues, meet three times a year with authority granted by the Designated Authority and receive reports AASD under Article 6(3)(b) the terms of this Annex; Agreement and conferring any additional powers state and functions on the Designated Authority. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and approval of the construction and operation of a Pipeline. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committeefederal law.

Governance Board. The A Governance Board shall be comprised consisting of one representative appointed by Australia staff, parents, and two representatives appointed by Timor-Lestecommunity members will govern the school (the “ATECH Governance Board”). The representatives on the ATECH Governance Board shall not have any direct financial or other commercial interest in will determine and oversee the operation mission and strategic plan, coordinate public relations strategies, establish policies as well as, oversee and approve the budget of the Greater Sunrise Special Regime that would create any reasonable perception of, school subject to the terms of this Agreement and specific authorization by AASD. No individual member of a Charter School Governance Board has the right or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on authorization to individually exercise the Governance Boardrights listed below. The Governance Board shall have has the following powers rights, subject to the terms and functions: providing strategic oversight over the Greater Sunrise Special Regime; establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; reporting requirements of the Designated Authority in accordance with Article 6(3)(b) limitations of this Annex; and engaging an independent qualified firm Charter Agreement, necessary pursuant to conduct an annual audit in accordance with international auditing standards so as state law to provide a high level of assurance over carry out the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; making decisions on Strategic Issues referred to it under Article 6(4) terms of this AnnexCharter Agreement, including: 1) to determine and oversee the mission and strategic plan; 2) to set the educational philosophy of ATECH; 3) to establish and oversee curriculum; 4) to establish and oversee school guidelines and policies not to exceed its authority granted herein; 5) to oversee and approve the school budget not to exceed its authority granted herein; 6) to coordinate public relations strategies; 7) to make recommendations related to employment decisions within the current supervision and evaluation process for AASD employees; 8) to ensure compliance with this Agreement not to exceed its authority granted herein; 9) to appoint the requisite number of ATECH members to its committees, in accordance with paragraphs 5 ATECH bylaws; 10) to receive and 6 disburse funds, subject to Section 13 of this ArticleAgreement; 11) to secure appropriate insurance, which it has done pursuant to Section 18 of this Agreement; 12) to enter contracts for technical or financial assistance, academic support, curriculum review or other services, which it has done and is subject to Section 13 of this Agreement; 13) to incur debt in reasonable anticipation of funds, subject to Section 13 of this Agreement; 14) to pledge, assign or encumber its assets to be used for loans, subject to Sections 13, 18 and 19 of this Agreement; 15) to solicit and accept gifts or grants for school purposes, subject to Sections 13 and 18 of this Agreement; 16) to acquire real property for its use, subject to Sections 13, 18 and 19 of this Agreement; approving amendments and 17) to sue and be sued in its own name, subject to limitations under this Agreement and state law. 18) such other matters as the ATECH may deem necessary or appropriate with regard to the Interim Petroleum Mining Code and any regulations thereunder; approving operations or affairs of ATECH, but not to exceed the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; other than as necessary for Strategic Issues, meet three times a year with authority granted by the Designated Authority and receive reports AASD under Article 6(3)(b) the terms of this Annex; Agreement and conferring any additional powers state and functions on the Designated Authority. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and approval of the construction and operation of a Pipeline. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committeefederal law.

Governance Board. 1. The Governance Board shall be comprised of one representative appointed by Australia and two representatives appointed by Timor-Leste. The representatives on the Governance Board shall not have any direct financial or other commercial interest in the operation of the Greater Sunrise Special Regime that would create any reasonable perception of, or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on the Governance Board. 2. The Governance Board shall have the following powers and functions: : (a) providing strategic oversight over the Greater Sunrise Special Regime; ; (b) establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: : (i) issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; ; (ii) reporting requirements of the Designated Authority in accordance with Article 6(3)(b) of this Annex; and and (iii) engaging an independent qualified firm to conduct an annual audit in accordance with international auditing standards so as to provide a high level of assurance over the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; ; (c) making decisions on Strategic Issues referred to it under Article 6(4) of this Annex, in accordance with paragraphs 5 and 6 of this Article; ; (d) approving amendments to the Interim Petroleum Mining Code and any regulations thereunder; ; (e) approving the final Petroleum Mining Code and any regulations thereunder, and any amendments thereto; ; (f) other than as necessary for Strategic Issues, meet three times a year with the Designated Authority and receive reports under Article 6(3)(b) of this Annex; and and (g) conferring any additional powers and functions on the Designated Authority. 3. Subject to paragraph 4 of this Article, the following is an exhaustive list of Strategic Issues: : (a) assessment and approval of a Development Plan pursuant to Article 9(2) of this Annex and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) of this Annex; ; (b) approval of the decision by the Designated Authority to enter into or terminate the Greater Sunrise Production Sharing Contract, or propose any material changes to that Contract as defined in that Contract; ; (c) approval of, and any material change to, a decommissioning plan, in accordance with Article 21 of this Annex; and and (d) approval of the construction and operation of a Pipeline. The Governance Board may add additional Strategic Issues to those listed in paragraph 3 of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations and relevant information provided by the Designated Authority and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committee.

Governance Board. The A Governance Board shall be comprised consisting of one representative appointed by Australia staff, parents, and two representatives appointed by Timor-Lestecommunity members will govern the school (the Appleton eSchool Governance Board”). The representatives on the Appleton eSchool Governance Board shall not have any direct financial or other commercial interest in will determine and oversee the operation mission and strategic plan, coordinate public relations strategies, establish policies as well as, oversee and approve the budget of the Greater Sunrise Special Regime that would create any reasonable perception of, school subject to the terms of this Agreement and specific authorization by AASD. No individual member of a Charter School Governance Board has the right or actual, conflict of interest, and they shall disclose details of any material personal interest in connection with their position on authorization to individually exercise the Governance Boardrights listed below. The Governance Board shall have has the following powers rights, subject to the terms and functions: providing strategic oversight over the Greater Sunrise Special Regime; establishing and overseeing an assurance and audit framework for revenue verification and offshore petroleum regulation and administration. This shall include: issuing an annual 'Statement of Expectation' to frame the operation and management of the Greater Sunrise Special Regime to guide the work of the Designated Authority; reporting requirements of the Designated Authority in accordance with Article 6(3)(b) limitations of this Annex; and engaging an independent qualified firm Charter Agreement, necessary pursuant to conduct an annual audit in accordance with international auditing standards so as state law to provide a high level of assurance over carry out the completeness and accuracy of revenues payable from Petroleum Activities in the Special Regime Area including monthly reporting, incorporating an explanation for variances between forecast and actual revenue; making decisions on Strategic Issues referred to it under Article 6(4) terms of this AnnexCharter Agreement including: 1) To determine and oversee the mission and strategic plan; 2) To set the educational philosophy of Appleton eSchool as set forth in Appendix A; 3) To establish and oversee curriculum; 4) To establish and oversee school guidelines and policies not to exceed its authority granted herein; 5) To oversee and approve the school budget not to exceed its authority granted herein; 6) To coordinate public relations strategies; 7) To make recommendations related to employment decisions within the current supervision and evaluation process for AASD employees; 8) To ensure compliance with this Agreement not to exceed its authority granted herein; 9) To appoint the requisite number of Appleton eSchool Governance Board members to its committees, in accordance with paragraphs 5 Appleton eSchool bylaws; 10) to receive and 6 disburse funds, subject to Section 13 of this Article; approving amendments Agreement; 11) to the Interim Petroleum Mining Code and any regulations thereunder; approving the final Petroleum Mining Code and any regulations thereundersecure appropriate insurance, and any amendments thereto; other than as necessary for Strategic Issues, meet three times a year with the Designated Authority and receive reports under Article 6(3)(b) which it has done pursuant to Section 18 of this Annex; Agreement; 12) to enter contracts for technical or financial assistance, academic support, curriculum review or other services, which it has done and conferring any additional powers and functions on the Designated Authority. Subject is subject to paragraph 4 Section 13 of this ArticleAgreement; 13) to incur debt in reasonable anticipation of funds, the following is an exhaustive list of Strategic Issues: assessment and approval of a Development Plan pursuant subject to Article 9(2) Section 13 of this Annex Agreement; 14) to pledge, assign or encumber its assets to be used for loans, subject to Sections 13, 18 and any material change to a Development Plan as defined in that Development Plan, pursuant to Article 9(4) 19 of this Annex; approval of the decision by the Designated Authority Agreement; 15) to enter into solicit and accept gifts or terminate the Greater Sunrise Production Sharing Contractgrants for school purposes, or propose any material changes subject to that Contract as defined in that Contract; approval of, Sections 13 and any material change to, a decommissioning plan, in accordance with Article 21 18 of this AnnexAgreement; 16) to acquire real property for its use, subject to Sections 13, 18 and 19 of this Agreement; and 17) to xxx and approval of be sued in its own name, subject to limitations under this Agreement and state law. 18) Such other matters as the construction and operation of a Pipeline. The Appleton eSchool Governance Board may add additional Strategic Issues deem necessary or appropriate with regard to those listed in paragraph 3 the operations or affairs of Appleton eSchool, but not to exceed the authority granted by the AASD under the terms of this Article. In making a decision on a Strategic Issue, the Governance Board shall give due consideration to all recommendations Agreement and relevant information provided by the Designated Authority state and relevant information provided by the Greater Sunrise Contractor. All decisions of the Governance Board shall be made by Consensus, within 30 days or such other period as may be agreed with both the Designated Authority and the Greater Sunrise Contractor, and be final and binding on the Designated Authority and the Greater Sunrise Contractor. For the purposes of this Treaty "Consensus" means the absence of formal objection to a proposed decision. If the Governance Board has exhausted every effort to reach Consensus on a Strategic Issue, either the Designated Authority or the Greater Sunrise Contractor may refer that issue to the Dispute Resolution Committee for resolution. Nothing in this paragraph limits the Governance Board's own right to refer any Strategic Issue to the Dispute Resolution Committeefederal law.