(a)
|
Amendments to the Convention may be proposed
by any Party and shall be communicated to the Director General, who shall
promptly circulate the proposals to all the Parties and Signatories. Three
months notice is required before consideration of a proposed amendment by the
Board of Signatories, which shall submit its views and recommendations to the
Assembly of Parties within a period of six months from the date of
circulation of the proposed amendment. The Assembly of Parties shall consider
the proposed amendment not earlier than six months from receipt by it, taking
into account any views and recommendations expressed by the Board of
Signatories. This period may, in any particular case, be reduced by the
Assembly of Parties by a decision taken in accordance with the procedure for
a matter of substance.
|
(b)
|
If adopted by the Assembly of Parties, the
amendment shall enter into force one hundred and twenty days after the
Depositary has received notices of acceptance from two-thirds of those States
which at the time of adoption by the Assembly of Parties were Parties and
whose Signatories then held at least two-thirds of the total investment
shares. Upon its entry into force, the amendment shall become binding upon
all Parties and all Signatories.
|