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(1)
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Any member
may withdraw from the corporation after submitting an official letter to the
Secretary General of the League of the Arab States who, in turn shall notify
the member states and the corporation thereof.
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(2)
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The
withdrawal shall take effect only after the lapse of one year from the date
of its submission to the Secretary General of the League of the Arab States.
The said letter may be withdrawn before the expiry of this period.
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(3)
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In
accordance with Clause 2 of this Article the withdrawing member shall remain
responsible for all the obligations which were contracted before the
discontinuance of his membership in accordance with Clause 2.
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(4)
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On the
discontinuance of membership, the corporation shall settle the accounts of
the member according to the regulations of the corporation with respect to
executive authority.
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(5)
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On the
discontinuance of membership, the General Body shall amend the shareholding
proportions set out in the appendix attached to this agreement in compliance
with Article 6 of this agreement.
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