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Article I: Commission on Public Corporations
- The Parties hereby establish a Commission on Public Corporations (the
"Commission") to examine establishing Bosnia and Herzegovina Public Corporations
to operate joint public facilities, such as for the operation of utility,
energy, postal and communication facilities, for the benefit of both Entities.
- The Commission shall have five Members. Within fifteen days after this
Agreement enters into force, the Federation of Bosnia and Herzegovina shall
appoint two Members, and the Republika Srpska one Member. Persons appointed must
be familiar with the specific economic, political and legal characteristics
Bosnia and Herzegovina and be of high recognized moral standing. Recognizing
that the Commission will benefit from international expertise, the Parties
request the President of the European Bank for Reconstruction and Development to
appoint the remaining two Members and to designate one as the Chairman.
- The Commission shall in particular examine the appropriate internal
structure for such Corporations, the conditions necessary to ensure their
successful, permanent operation, and the best means of procuring long-term
investment capital.
Article II: Establishment of a Transportation
Corporation
- The Parties, recognizing an immediate need to establish a Public Corporation
to organize and operate transportation facilities, such as roads, railways and
ports, for their mutual benefit, hereby establish a Bosnia and Herzegovina
Transportation Corporation (the "Transportation Corporation") for such purpose.
- The Transportation Corporation shall have its headquarters in Sarajevo and
may have offices at other locations as it deems appropriate. It shall have
appropriate facilities and choose a professionally competent Board of Directors,
Officers and Staff, generally representative of the ethnic groups comprising
Bosnia and Herzegovina, to carry out its functions. The Commission shall choose
the Board of Directors, which shall in turn appoint the Officers and select the
Staff.
- The Transportation Corporation is authorized to construct, acquire, hold,
maintain and operate and dispose of real and personal property in accordance
with specific plans that it develops. It is also authorized to fix and collect
rates, fees, rentals and other charges for the use of facilities it operates;
enter into all contracts and agreements necessary for the performance of its
functions; and take other actions necessary to carry out these functions.
- The Transportation Corporation shall operate transportation facilities as
agreed by the Parties. The Parties shall, as part of their agreement, provide
the Corporation with necessary legal authority. The Parties shall meet within
fifteen days after this Agreement enters into force to consider which facilities
the Corporation will operate.
- Within thirty days after this Agreement enters into force, the Parties shall
agree on sums of money to be contributed to the Transportation Corporation for
its initial operating budget. The Parties may at any time transfer to the
Transportation Corporation additional funds or facilities that belong to them
and the rights thereto. The Parties shall decide the means by which the
Transportation Corporation will be authorized to raise additional capital.
Article III: Other Public Corporations
The Parties may decide, upon recommendation of the Commission, to use
establishment of the Transportation Corporation as a model for the establishment
of other joint public corporations, such as for the operation of utility,
energy, postal and communication facilities.
Article IV: Cooperation
The Commission, the Transportation Corporation and other Public Corporations
shall cooperate fully with all organizations involved in implementation of the
peace settlement, or which are otherwise authorized by the United Nations
Security Council, including the International Tribunal for the Former
Yugoslavia.
Article V: Ethics
Members of the Commission and Directors of the Transportation Corporation may
not have an employment or financial relationship with any enterprise that has,
or is seeking, a contract or agreement with the Commission or the Corporation,
respectively, or otherwise has interests that can be directly affected by its
actions or inactions.
Article VI: Entry into Force
This Agreement shall enter into force upon signature.
For the Federation of Bosnia and Herzegovina
For the Republika Srpska
Office of the High Representative
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