Space Law TOP
Contents Intoroduction Preliminaries Chapter 1 Chapter 2
Chapter 3 Chapter 4 Appendix Index

Article 6: Subscription to the Capital of the Corporation


The contribution by the member states to the capital of the corporation shall be in accordance with the proportions set out in the appendix attached to this agreement.


However, after the lapse of two years from the date of commencement of the operations of the space sector, the following points shall be given effect to:


The subscription shall be in proportion to the actual use of the space sector by member states.


The states, which have not yet used the space sector on account of the incompletion of their ground stations, shall have the minimum subscription.


A member state of the corporation may call for its subscription, as is set out in the appendix attached to this agreement, to be reduced after submitting an application to the General Body Meeting which will decide upon the redistribution of the shares thus waived.


In all cases the minimum subscription shall be of one share.


The proportional subscription set out in the appendix attached to this agreement, shall be reviewed in the event of a new member joining the corporation or the increase of the capital or the withdrawal of a member after a resolution by the General Body Meeting.

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