Article 36. Treasury of the Bureau

1. The purpose of the Treasury of the Bureau is to guarantee the payment of compensation in cases where the obligation to pay compensation lies with the Bureau and to ensure the implementation of international financial commitments arising from the Bureau’s membership in the Council of Bureaux.

2. The Treasury of the Bureau shall be formed of:

1) a share of contributions to the Bureau by members of the Bureau as determined by the Government or by an institution authorised by the Government;

2) late-payment interest on overdue contributions by members of the Bureau;

3) funds reimbursed to the Bureau for the compensation paid by the Bureau instead of other persons (including litigation costs awarded to and recovered by the Bureau);

4) funds paid to the Bureau as fees for the handling of claims as part of its commitments to members of the Green Card system;

5) income from investment of the funds of the Treasury of the Bureau and interest earned on deposits with banks;

6) borrowed funds;

7) funds and assets donated by natural and legal persons to replenish the Treasury of the Bureau.

3. funds of the Treasury of the Bureau may only be used for the following purposes:

1) to reimburse compensations in respect of the damage caused in road accidents, including those cases where compensation and claims handling fees are paid in compliance with the requirements of the legal acts regulating the Green Card system where the Bureau acts in the capacity of a compensation body, and to reimburse the amounts claimed by the compensation bodies of other Member States of the European Union;

2) to cover the costs of litigation and the costs of loan enforcement in exercising the right of recourse;

3) for compulsory payments and financial guarantees as part of implementing international financial commitments arising from the Bureau’s membership in the Council of Bureaux and commitments to members of the Green Card system;

4) to repay the principal and pay interest on the borrowed funds referred to in subparagraph 6 of paragraph 2 of this Article.

4. No payments may be enforced from the funds and assets of the Bureau, in which the funds of the Bureau are invested, under obligations other those referred to in paragraph 3 of this Article.

5. The Bureau shall be the administrator of the Treasury of the Bureau.

6. The Funds of the Treasury of the Bureau shall be included in a separate account.