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Published online by Cambridge University Press: 05 February 2012
THE STATES parties to this Protocol.
BEING PARTIES to the Convention for the establishment of a European Space Research Organisation, hereinafter referred to as ‘the Convention’ and ‘the Organisation’ respectively, signed at Paris on 14 June 1962.
HAVE AGREED as follows:
The expenditure of the Organisation during the first eight years after entry into force of the Convention shall not exceed three hundred and six million accounting units (at price levels ruling at the date of signature of this Protocol), provided that the Council, referred to in Article X of the Convention may, by a unanimous decision of all Member States taken on the occasion of a three-yearly determination of levels of resources under Article X4. (c) and (d) of the Convention, adjust this figure in the light of major scientific or technological developments.
The Organisation shall frame its programme within the limit of expenditure laid down in paragraph 1 of this Protocol.
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