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II SÉRIE — NÚMERO 37

to activate them only in part or to fix another time limit for their implementation.

4 — If, according to the finding of the Secretariat, the conditions of more than one of the articles 14, 13 and 17 are fulfilled, any decision not to activate emergency measures shall be taken separately for each article and in the above order. If the conditions in article 17 are fulfilled with regard* to more than one Participating Country any decision not to activate allocation shall be taken separately with respect to each Country.

5 — Decisions pursuant to paragraphs 3 and 4 may at any time be reversed by the Governing Board, acting by majority.

6 — In making its finding under this article, the Secretariat shall consult with oil companies to obtain their views regarding the situation and the appropriateness of the measures to be taken.

7 — An international advisory board from the oil industry shall be convened, not later than the activation of emergency measures, to assist the Agency in ensuring the effective operation of such measures.

ARTICLE 20

1 — The Secretariat shall make a finding when cumulative daily emergency reserve drawdown obligations have reached or can reasonably be expected to reach 50 per cent of emergency reserve commitments. The Secretariat shall immediately report its finding to the members of the Management Committee and inform the Participating Countries thereof. The report shall include information on the oil situation.

2 — Within 72 hours of the Secretariat's reporting such a finding, the Management Committee shall meet to review the data compiled and the information provided. On the basis of available information the Committee shall report to the Governing Board within a further 48 hours proposing measures required for meeting the necessities of the situation, including the increase in the level of mandatory demand restraint that may be necessary. The report shall set out the views expressed by the members of the Committee.

3 — The Governing Board shall meet within 48 hours of receiving the Committee's report and proposal. The Governing Board shall review the finding of the Secretariat and the report of the Management Committee and shall within a further 48 hours, acting by special majority, decide on the measures required for meeting the necessities of the situation, including the increase in the level of mandatory demand restraint that may be necessary.

ARTICLE 21

1 — Any Participating Country may request the Secretariat to make a finding under article 19 or 20.

2 — If, within 72 hours of such request, the Secretariat does not make such a finding, the Participating Country may request the Management Committee to meet and consider the situation in accordance with the provisions of this Agreement.

3 — The Management Committee shall meet within 48 hours of such request in order to consider the

situation. It shall, at the request of any Participating Country, report to the Governing Board within a further 48 hours. The report shall set out the views expressed by the members of the Committee and by the Secretariat, including any views regarding fhe handling of the situation.

4 — The Governing Board shall meet within 48 hours of receiving the Management Committee's report. If it finds, acting by majority, that the conditions set out in article 13, 14, 15 or 17 are fulfilled, emergency measures shall be activated accordingly.

ARTICLE 22

The Governing Board may at any time decide by unanimity to activate any appropriate emergency measures not provided for in this Agreement, if tbe situation so requires.

Deactivation

ARTICLE 23

1 — The Secretariat shall make a finding when 8 reduction of supplies as mentioned in article 13, 14 or 17 has decreased or can reasonably be expected to decrease below the level referred to in the relevant article. The Secretariat shall keep the Management Committee informed of its deliberations and shall immediately report its finding to the members of the Committee and inform the Participating Countries thereof.

2 —Within 72 hours of the Secretariat's reporting a finding, the Management Committee shall meet to review the data compiled and the inforrhation provided. It shall report to the Governing Board within a further 48 hours. The report shall set out the views expressed by the members of the Committee, including any views regarding the handling of the emergency.

3 — Within 48 hours of receiving the Committee's report, the Governing Board shall meet to% review the finding of the Secretariat in the light of the report from the Management Committee. The deactivation of emergency measures or the applicable reduction of the demand restraint level shall be considered confirmed unless the Governing Board, acting by special majority, decides within a further 48 hours to maintain the emergency measures or to deactivate them only in part.

4 — In making its finding under this article, the Secretariat shall consult with the international advisory board, mentioned in article 19, paragraph 7, to obtain its views regarding the situation and the appropriateness of the measures to be taken.

5 — Any Participating Country may request the Secretariat to make a finding under this article.

ARTICLE 24

When emergency measures are in force, and the Secretariat has not made a finding under article 23, the Governing Board, acting by special majority, may at any time decide to deactivate tbe measures either wbollyor in part.