Common Contracts
1 similar Operational Management Agreement contracts
ContractOperational Management Agreement • August 14th, 2006
Petroleum Fund of Timor-Leste — Operational Management Agreement This Agreement is made on October, 12th 2005 between the Minister for Planning and Finance (“Minister”) representing the government and the Banking & Payments Authority (“Central Bank”), hereinto referred to as the “Parties”, pursuant to Articles 11.3 and 12.4 of Law No. 09/2005 on the Petroleum Fund (“Law”). Whereas the Minister will exercise the key functions and competencies of the Government, which has been assigned overall responsibility for the management of the Petroleum Fund (“Fund”) and the Banking and Payments Authority has been assigned the responsibility of the operational management of the Fund; Whereas the requirement established by law that the Minister shall enter into an agreement with the Central Bank forthe operational management of the Fund; It is therefore agreed between the parties 1. The Central Bank shall undertake the operational management of the Fund and shall be accountable for its operational
