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  • Print publication year: 2009
  • Online publication date: September 2010

Article 8 - No Remuneration for Members

from CHAPTER I - International Centre for Settlement of Investment Disputes

Summary

In accordance with Art. 4(2), the members of the Administrative Council are normally the governors of the World Bank. As such they are in the service of their respective governments. In accordance with Art. 5, the Chairman is the President of the World Bank. Neither the members of the Administrative Council nor the Chairman are entitled to an additional remuneration from the Centre.

During the Convention's drafting, this provision was not cast into doubt (History, Vol. I, p. 54). At the same time it was made clear that this would not affect the reimbursement of actual expenses of the members of the Administrative Council and of the Chairman incurred in the course of service for the Centre (History, Vol. II, pp. 251, 319, 389, 481, 482, 491, 715/6). Art. 24(2) provides for tax privileges in respect of expense allowances paid by the Centre to the Chairman or members of the Administrative Council.