The Special Action Account shall be kept separate and apart from all other accounts and assets of the Association.

Utilization of Special Action Account

There is hereby established by the Association a special account entitled 'Special Action Account' constituted by the monies which the Member States shall contribute to the Special Action Account in accordance with the provisions of this Agreement which shall be held in trust and used by the Association, acting as administrator (the Association acting in that capacity is hereinafter referred to as the administrator) only for the purpose of, and in accordance with, the provisions of this Agreement.

The principal repayments of Special Action Credits shall be made payable to the Special Action Account and the amount of the currency of a Member State so repaid shall as soon as practicable thereafter be returned by the administrator to such Member State.

Each Member State shall make a contribution to the Special Action Account in an amount in its own currency equivalent as of the date of signature of this Agreement to the United States dollar amount specified below opposite its name.

Establishment and administration of the Special Action Account

To that end, until the Special Action Account is fully disbursed, the EEC (acting through the Commission of the European Communities) and the administrator shall, from time to time, exchange views on the status and condition of the Special Action Account, on the progress of the programmes or projects financed out of the Special Action Credits, and on all other matters relating to these arrangements.

(b) ab ab In order to implement the abovementioned decision the EEC has requested the Association to administer for them a special account (Special Action Account) in the aggregate amount of the equivalent of 385 million dollars, to be kept separate and apart from all other accounts and assets of the Association and to be used for credits (Special Action Credits) in amounts which will be additional, in respect of both programme and project lending, to the amount of the Association's planned programme for the period of commitment of the Special Action Account for each country eligible to receive them and otherwise on the basis set forth below;

The Council may also decide to accept other forms of contributions to the special account, including scientific and technical equipment or manpower, to meet the requirements of approved projects.

After the Special Action Credits shall have been fully disbursed, the administrator shall as soon as practicable furnish to the EEC a detailed report on the projects and programmes financed from the Special Action Account.

The administrator shall, as soon as practicable after the end of each fiscal year of the Association, furnish to the EEC a detailed statement of the Special Action Account, together with an opinion of the Association's own external auditors of such statement.

Computer-coded engine operating parameters must not be changeable without the use of specialized tools and procedures (e. g. soldered or potted computer components or sealed (or soldered) computer enclosures).

The administrator shall draw on the cash or notes on an approximately pro rata basis in accordance with the Association's normal procedures in order to meet disbursements of Special Action Credits and to maintain a reasonable working balance in the Special Action Account.

The administrator shall establish and maintain appropriate records and accounts to identify the contribu tions to the Special Action Account, the commitments to be financed out of the Account, and the receipts and disbursements of funds in the Account and repayments to the Member States.

(a) ab ab Payment shall be made in the form of cash or non-interest bearing notes of the Member State payable on demand in its currency and to the order of the Association, as administrator of the Special Action Account, and deposited in the depository of the Association in the country concerned.

In the context of the discharge procedure or Parliament's activities in the sphere of budgetary control, the President of the Court of Auditors may be invited to take the floor in order to present the comments contained in the Annual Report, special reports or opinions of the Court, or in order to explain the Court's work programme.

The resources of the Special Action Account shall not be used in substitution for regular resources of the International Bank for Reconstruction and Development ('the Bank') or of the Association committed under a loan or credit for a programme or project which, at the effective date of this Agreement, shall have been approved by the executive directors of the Bank or the Association.

Any reprogrammable computer codes or operating parameters must be resistant to tampering and the computer and any related maintenance instructions must conform to the provisions in ISO DIS 15031-7. Any removable calibration memory chips must be potted, encased in a sealed container or protected by electronic algorithms and must not be changeable without the use of specialized tools and procedures.

All amounts credited to the Special Action Account shall, in accordance with the EEC's requirements, be used by the administrator exclusively for the purpose of making Special Action Credits to low-income member countries of the Association with immediate needs, in particular among the least developed and the most seriously affected of the developing countries, whose prospects for development have been seriously curtailed by external factors and which are faced with general problems connected with the transfer of resources and which may, as a result thereof, be faced with debt service difficulties.

However, for entitlements shown in separate accounts under Article 6(3)(b) of the entry must be made at the latest on the first working day following the 19th day of the second month following the month in which the entitlements were recovered.

The compensatory amounts and the accounting entries to balance those compensatory amounts shall be recorded on separate intra-Eurosystem accounts in the books of each NCB with a value date of 1 January on the first business day of each year.

All amounts credited to the Special Action Account shall, in accordance with the EEC's requirements, be used by the administrator exclusively for the purpose of making Special Action Credits to low-income member countries of the Association with immediate needs, in particular among the least developed (1) and the most seriously affected (1) of the developing countries, whose prospects for development have been seriously curtailed by external factors and which are faced with general problems connected with the transfer of resources and which may, as a result thereof, be faced with debt service difficulties.

In order to implement the abovementioned decision the EEC has requested the Association to administer for them a special account (Special Action Account) in the aggregate amount of the equivalent of 385 million dollars, to be kept separate and apart from all other accounts and assets of the Association and to be used for credits (Special Action Credits) in amounts which will be additional, in respect of both programme and project lending, to the amount of the Association's planned programme for the period of commitment of the Special Action Account for each country eligible to receive them and otherwise on the basis set forth below;

Payment shall be made in the form of cash or non-interest bearing notes of the Member State payable on demand in its currency and to the order of the Association, as administrator of the Special Action Account, and deposited in the depository of the Association in the country concerned.