Agreement on procedure for forming and budget implementation of the Shanghai Cooperation Organization

of May 29, 2003

State members of the Shanghai Cooperation Organization (далееШОС or the Organization) - the Republic of Kazakhstan, People's Republic of China, the Kyrgyz Republic, the Russian Federation, the Republic of Tajikistan and the Republic of Uzbekistan which further are referred to as with the Parties

being guided by Article 12 of the Charter of the Shanghai Cooperation Organization of June 7, 2002,

agreed as follows:

Article 1

For the purposes of this agreement the following basic concepts are used:

advance payments - approved by Council of Heads of Government (Prime Ministers) of state members of SCO (further - SGP) according to the sizes of contributions of the amount, the organization activities which are one-timely transferred by state members into the budget SCO and returned to state members in case of the termination or their exit from it;

the budget (regular) - form of education and use of the money intended for financial provision of tasks and functions of permanent bodies of SCO. It is created for the corresponding fiscal year of contributions of state members and other receipts;

fiscal (financial) year - the period from January 1 to December 31 inclusive;

fees (equity) - the sums determined (added) for state members of SCO for financing of the expenses connected with activities of permanent bodies of SCO in this financial year;

internal audit - control of forming of expenses, identification of variations from planned targets and standard rates, the analysis of the reasons of variations, search of reserves of financial and economic activities and providing the Executive secretary of SCO with necessary information (further - the Executive secretary);

external audit - the check of financial and economic activities of SCO performed by person(s) or institute appointed SGP;

the obligation - the introduction in contractual relations or other types of transactions involving the financial responsibility of SCO for which the corresponding permission was got;

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