CRD Welcome Package

14.

(1) All appointment of officers and employees of the Bank shall be on such terms and conditions as shall be prescribed by the Board. (2) The Governor and Deputy Governor shall be paid such salary and allowances as may be approved by the Council. (1) The Governor, the Deputy Governor and each appointed Director shall not act as a representative of any commercial, financial, agricultural, industrial or other (private) interest; and neither they nor any other officer or employee of the Bank shall receive or accept directions from any such interest in respect of duties to be performed under this Agreement. (2) Every Director shall fully disclose to the Board any (private) interest, industrial or other, which he may directly or indirectly hold or be connected with and which becomes the subject of Board action, and shall refrain from voting on any matter relating thereto: Provided that such an interest, if so disclosed shall not disqualify the interested party for the purpose of constituting a quorum. (3) No Director, officer or employee of the Bank in his official capacity shall accept any gift or advantage for himself or for any person with whom he may have family, business or financial connections. (1) The Governor, the Deputy Governor, every appointed Director, and every officer and employee of the Bank shall take an oath of secrecy in the form prescribed by the Board. (2) Except for the purpose of the performance of his duties or the exercise of his functions, no director, officer or employee of the Bank shall disclose to any person any material information relating to the affairs of the Bank or any financial institution or other person, firm, company or organisation which information he has acquired in the performance of his duties or his functions. (3) The validity of any act or proceeding of the Bank shall not be affected by any vacancy amongst the Director or by a defect in the appointment of a Director. (1) The monetary unit of the Participating Governments shall be the Eastern Caribbean Dollar divided into one hundred cents, with such external value as may from time to time be declared in accordance with paragraph (2) of this Article. (2) The Bank shall on the recommendation of the Board approved by a decision of the Council, both such recommendation and decision having been adopted unanimously by all their members declare the external value for the Eastern Caribbean Dollar, having due regard to the obligations that any Participating Government has assumed in accordance with the provisions of the Articles of Agreement of the International Monetary Fund: Provided that any declaration made by the East PART V - CURRENCY

15.

16.

17.

24