Regulalion C/REG.15/12/00 Relating to the Adoption of the Compensation Budget for Loss of Revenue Incurred by ECOWAS Member States in 1999 as a Result of the Liberalisation of Intra-ECOWAS Trade

Jurisdiction
African Regional Bodies · Economic Community of West African States (ECOWAS)
Date
12 December 2000
Language
English
Type
Regulation

Economic Community of West African States

Regulalion C/REG.15/12/00 Relating to the Adoption of the Compensation Budget for Loss of Revenue Incurred by ECOWAS Member States in 1999 as a Result of the Liberalisation of Intra-ECOWAS Trade

The Council of Ministers,MINDFUL of Articles 10, 11 and 12 of the Revised Treaty establishing the Council of Ministers and defining its composition and functions;MINDFUL of Decision A/DEC.8/5/79 of the Authority of Heads of State and Government, dated 29 May 1979 relating to the consolidation of customs duties and taxes of equivalent effect, and non-tariff barriers;MINDFUL of Decision A/DEC. 19/5/80 of the Authority of Heads of State and Government, dated 28 May, 1980 relating to compensation procedure for loss of revenue suffered by ECOWAS Member States as a result of the liberalisation of intra-ECOWAS trade;MINDFUL of Decision A/DEC. 1/5/83 of the Authority of Heads of State and Government relating to the adoption and implementation of a single trade liberalisation scheme for industrial products originated from Member States, and the amendment thereto embodied in Deci­sion A/DEC.6/6/89, dated 30th June, 1989;MINDFUL of the Decisions and Regulations listing en­terprises and products approved to benefit under the ECOWAS trade liberalisation scheme;CONSIDERING the application for compensation for loss of revenue received from Member States having imported approved industrial products;CONSIDERING the report of the forty-first meeting of the Trade, Customs, Immigration, Money and Payments Commission held in Bamako from 27th to 30th November 2000;ON THE RECOMMENDATION of the twenty-fifth meeting of the Administration and Finance Commission held in Bamako from 2nd to 3rd December, 2000.ENACTS

Article 1

1.The following budget estimates in the amount of One hundred and seventy million, three hun­dred and forty-two thousand, one hundred Francs CFA(FCFA 170, 342, 100) for compensa­tion of loss of revenue suffered as a result of the liberalisation of intra-ECOWAS trade are hereby approved.
2.The table annexed hereto indicates the share of contributions owed to the compensation bud­get by each exporting Member State.
Compensation Budget
(In CFA Francs)
Etats member, Member State Montant des contributions/Amount of contributions
Ghana 31,331, 121
Nigeria 24,114,589
Togo 114,896,390
Total 170,342,100

Article 2

The ECOWAS Executive Secretariat and the ECOWAS Fund shall be responsible for the payment to the Member Slate that has suffered the loss of revenue in the amounts recorded in the compensation budgets for 1999.

Article 3

This Regulation shall be published in the Official Journal of the Community by the Executive Secretariat within thirty (30) days of its signature by the Chairman of the Council of Ministers. It shall also be published by each Member State in its National Gazette within the same time-frame.
Done at Bamako, this 12th day of December, 2000Mr. Bacari KoneChairman for the Council
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