ATTACHMENT 2: THE CYPRUS
PROPERTY BOARD AND COMPENSATION ARRANGEMENTS
Section A: Establishment,
operation. powers, staff and costs of The Cyprus Property Board
Article 1 Establishment and
conduct of the Cyprus Property Board
1.
There shall be an independent,
.impartial, administrative body known as the Cyprus Property Board (hereafter
the 'Property Board').
2. The Property Board shall act
in accordance with the principles and terms of the Foundation Agreement and in
particular with these provisions.
Article 2 Membership
1. The
Property Board shall be composed of a total of seven members, being two members
hailing from each <component state> and three non- Cypriot members who are not
citizens of Cyprus, Greece, Turkey or the United Kingdom.
Σχόλιο:
Πως μπορεί ένας αντιπρόσωπος μη Κύπριος πολίτης να χρειάζεται να αναφερθεί ρητά
ότι δεν θα είναι από την Κύπρο και πάλι εδώ φαίνεται η προχειρότητα.
2. Members shall be legally
qualified and of high moral and professional standing. Members shall be
prohibited from holding any other <common state> or <component state> office
during their, membership of the Property Board. .
3.
The Cypriot and non-Cypriot members'
remuneration shall be at the level of nine-tenths of the salary of the Cypriot
and non-Cypriot judges of the Supreme Court respectively.
Σχόλιο:
Γιατί αυτή η συνεχή διάκριση
ανάμεσα σε Κύπριους και ξένους οι οποία παραβιάζει την αρχή της ισότητας όπως
διασφαλίζεται στο Ευρωπαϊκό Κεκτημένο.
4.Within 30 days of entry into
force of the Foundation Agreement, the Co- Presidents shall appoint by consensus
the initial members of the
Property Board. For subsequent
appointments, the members shall be appointed by the executive heads of the
<component states> acting by consensus.
5. The members shall elect from
among their number a presiding member, who shall preside over the Board for a
period of three years or until the end of his/her term, whichever is the sooner.
6. The members of the Property
Board shall be appointed for a term of three years. At the end of each
three-year term, each member shall be replaced or reappointed for a further
term. Members may resign with 90 days prior notice. The Supreme Court may remove
any member upon the application of the <common state> or either <component
state> in case of misconduct or grave breach of the member's duties. In case of
any vacancy, a new member shall be appointed within 45 days of notice of the
vacancy or of its occurrence, whichever is the sooner.
7 If there is failure to
agree on the appointment of any member of the Property Board in the time
specified under these provisions, the Secretary-General of the United Nations or
his representative, shall appoint a replacement member to hold office for a
minimum of eighteen calendar months.
Σχόλιο:
Αν δεν υπάρξει συμφωνία για τον
διορισμό οποιοδήποτε μέλους του Συμβουλίου Περιουσίας στο διάστημα που
καθορίζεται από αυτές τις διατάξεις ο Γενικός Γραμματέας του ΟΗΕ θα διορίζει ένα
μέλος αντικαταστάτη, που θα αναλαμβάνει τη θέση για τουλάχιστον 18 μήνες.
Δηλαδή δεν φτάνει που θα μας επιβληθεί κάποιος από τον Γ.Γ του ΟΗΕ θα είναι και
για ΤΟΥΛΑΧΙΣΤΟΝ 18 μήνες.
Article 3 Powers
The Property Board body shall
have the power to:
a. Receive and rule on claims
for affected property;
b. Decide any question or
dispute before it regarding claims, entitlements of dispossessed owners, current
users or owners of improvements, allegations of sale under duress, property
valuation, right of first refusal or title to or other rights in respect of
affected property;
c. Decide in individual cases
on, and set and revise scales and values for the purposes of calculating
compensation for affected property and improvements; rent, sale and purchase
amounts; entitlements to alternative accommodation and other amounts under these
provisions;
d. Demand and receive
prompt, full and unhindered access to any and all records, archives, databases
or other information regarding property in Cyprus, and to any and all property
in Cyprus for the purpose of inspection, valuation and assessment related to its
tasks and operation, and to receive copies or extracts of information,
‘from public authorities’
without fee, tax or other charge;
Σχόλιο:Πρέπει
να προστεθεί η φράση αυτή ‘from
public authorities’ αλλιώς μπορεί
με αυτό τον τρόπο να επιβαρύνονται χωρίς πληρωμή άτομα τα οποία προσφέρουν τις
ιδιωτικές τους υπηρεσίες. (Η προσθήκη στο κείμενο είναι δική μου).
e. Order or procure the
registration of interests in affected property or correction of entries in the
relevant land Titles Register or other records, based on entitlements under
these provisions or other applicable law;
f. Refer any question arising
in respect of an affected property to another competent court or authority, as
appropriate and for finalisation or any interim or other ruling;
g.
Order the suspension of any proceeding in any court or other authority, or any
physical alterations (other than minor or emergency maintenance)
with respect to affected property;
Σχόλιο:Αυτό
εδώ καταπατά το δικαίωμα προσφυγής σε αρμόδιο δικαστήριο.
h. Order or procure the
completion of any steps as required to transfer interests in affected property
or, where necessary, partition affected property, under these provisions or
other applicable law;
i. Issue legally binding
orders to competent <common state> or <component state> bodies as required to
implement its decisions;
j. Acquire and deal with
affected property in a responsible manner under these provisions, including the
administration and disposal of affected property transferred to it or coming
under its control;
k. Facilitate the provision and
allocation of alternative accommodation;
i. Assist persons, upon their
request, in the sale, lease or exchange of Affected property.
m. Collect damages from and
issue fines against any persons found responsible for damaging or destroying
affected property;
n. Administer and/or supervise
a preferential loans scheme under these provisions;
o. Adopt such rules,
regulations, procedures, forms and other instruments as required for the
performance of its functions;
p. Consult and seek
recommendations from qualified experts to assist in the performance of its
functions, including experts in valuation, economics, law, property markets,
quantity and land surveying, registration, mapping and others; and
q. Perform other tasks,
including those which may be assigned to it by
the <common state~ or either
<component state>, or which are ,incidental or, related)o the performance of its
functions.
Article 4 Obligations of the
<common state> and the <component states>in respect of the Property Board
1. The <common state> and the
<component states> shall take all steps as required to implement these
provisions in good faith and in a timely manner.
Σχόλιο:
Αυτό είναι πολύ γενικό και αόριστο.
2. In order to fulfil their
obligations under these provisions, the <common state> and the <component
states> shall, among other things:
a. Cooperate fully with the
Property Board, and respect, recognize and comply with its decisions in
accordance with their legally binding nature;
b. Implement the decisions of
the Property Board fully and promptly;
Σχόλιο:
Και πάλι αόριστο πιο περιθώριο
υπάρχει;
c. Cooperate with other
relevant institutions dealing with affected property under these provisions;
d. Provide the Property Board
with prompt, full and unhindered access to any and all records, archives,
databases or other information regarding property in Cyprus, and to any and all
property in Cyprus for the purpose of inspection, valuation and assessment
related to its tasks and operation, and to provide copies or extracts of
information, without fee, tax or other charge;
e. Adopt special measures,
including at the request of the Property Board, to ensure the physical
protection of property from damage or destruction; and
f. Act otherwise as necessary
to respect property rights.
3. The <common state:> and the
<component states> shall adopt and enforce any legislation, regulations,
procedures, orders, instructions, practice notes and other legislative
instruments as necessary or appropriate to acknowledge the binding force of
Property Board decision, and ensure their enforcement and implementation,
including as necessary through local administrative bodies, police or other
agents Such legislative instruments shall be drafted in consultation with the
Property Board.
4. In case the <common
state> or a <component state> fails within one year after entry into force of
the Foundation Agreement to adopt laws for enforcement and implementation of
decisions of the Property Board, the Property Board shall issue rules providing
for enforcement and implementation of its decisions, which shall come into force
as binding legislative Instruments of the <common state> or the relevant
<component state>, and which shall remain In force until the <common state> or
the relevant <component state> enacts effective laws In fulfilment of its
obligations under these provisions.
Σχόλιο:Εδώ
φαίνεται ότι το Συμβούλιο Περιουσίας έχει την δικαιοδοσία να παρακάμψει το
Συστατικό Κράτος αν αυτό αρνείται να ψηφίσει κάποιο νόμο και να του επιβάλλει
προσωρινά αυτό το νόμο. Αυτό είναι εντελώς αντιδημοκρατικό και επίσης με
αυτό τον τρόπο φαίνεται ότι η Βούληση του Λαού μέσω των εκλεγμένων αντιπροσώπων
του δεν έχει καμία σημασία.
Article 5 Obligations of
<common state> and <component state> courts and competent authorities
1. The courts, administrative
bodies and other authorities of the <common state> and the <component states>
'shall cooperate with the Property Board and acknowledge the legally binding
force of its decisions, and shall take any steps as necessary to implement and
enforce its decisions. '
2. If the Property Board
refers a question to a court or other competent authority, such court or
authority shall hear and determine the claim on its merits and shall not reject
or refuse to decide the claim solely on the grounds that the claim is out of
time or that any applicable limitation period has expired.
'
Σχόλιο:Εδώ
τα δικαστήρια δεσμεύονται να μελετήσουν την ουσία ενός προβλήματος ανεξάρτητα αν
το αίτημα/ πρόβλημα είναι εκτός χρόνου ή ότι έχει εκπνεύσει οποιοδήποτε
προθεσμία που προνοείται. Αυτό είναι κάτι πρωτάκουστο γιατί το δικαστήριο από
μόνο του πρέπει να τηρεί και να ακολουθεί οποιοδήποτε χρονικούς περιορισμούς
υπάρχουν.
3. The <component states> shall
put land for alternative accommodation at the disposal of the Property Board,
without payment, including through expropriation where necessary. In allocating
such land, the <component states> shall take into account the need for
relocating persons, in particular those from areas subject to territorial
adjustment, to be able adequately to earn their livelihood.
Article 6 Staff
The Property Board shall employ
a director who, under the supervision of the members of the Property Board,
shall be responsible for the administration and management of the work of the
Property Board. The director may employ staff qualified in law, valuation, land
titles, records management, economics, accountancy, information technology,
mediation and other forms of dispute resolution, property management and other
technical and relevant fields, to assist and perform the work of the Property
Board.
Article 7 Costs
1. The costs of establishing
and running the Property Board shall be met by the <common state> I which may
request contributions from the guarantor states and other international donors.
2. The Property Board shall
prepare an annual budget. for its running costs in accordance ,with the relevant
public service scales of remuneration and, in the case of non-Cypriot employees,
United Nations guidelines. The <common state~ shall pay the budgeted amount for
such running costs to the Property Board before the beginning of each financial
year. Any surplus funds at the end of each financial year shall be repaid to the
<common state>, and any shortfall shall be met by the <common state>.
3. The Property Board shall
submit its running costs and other accounts to independent audit each financial
year, and the audit report shall be publicly available.
4. Should any additional task
or function be assigned to the Property Board, the <common state> or any
<component state> which assigns such task or function shall provide or procure
the provision of resources to enable the Property Board to perform the task or
function.
Article 8 Period of
operation of the Property Board
1. Ten years after entry into
force of the Foundation Agreement, the Property Board shall be wound up. If the
Property Board by that date has not completed determination of all claims or any
other task before it, the Supreme Court may extend the period of operation of
the Property Board for one year at a time. In case of such an extension, the
Supreme Court may order retention by the Property Board of specified assets to
enable it to continue its work in accordance with these provisions.
2. The Property Board may
decide, by majority of five to two and subject to the approval of the [executive
heads] of the <component states> acting by consensus. to wind itself up on a
date earlier than ten years after commencement of its operations, provided that
its work has been completed or appropriate provision has been made for transfer
to a competent body of any outstanding functions or matters.
3. The Supreme Court may, upon
application by the Property Board or by the [executive heads] of the <component
states> acting by consensus, extend the period of operation of a specific
section or sections of the Property Board for one year at a time, in order to
enable completion of a specified function, and may order retention by that
section or sections of specified assets to enable the continuation of work.
Notwithstanding any such limited extension of operation of a particular section
or sections, the Property Board shall be considered to be wound up for the
purposes of these provisions, unless the Supreme Court orders otherwise.
4.For the purposes of hearing
and determining disputes over claims, entitlements of dispossessed owners,
current users or owners of improvements, property valuation, right of first
refusal, or title to or other rights in respect of property, the relevant
section of the Property Board shall continue in operation for as long as the
Supreme Court deems fit.
5.Prior to its winding-up, the
Property Board shall make arrangements for the completion of any tasks or
functions assigned to it under these provisions, including any claims or
disputes which are pending or which may arise in future. For this purpose, it
may refer or request the Supreme Court to assign specified claims or cases to
other competent bodies or courts or to a section of the Property Board, which
will continue in operation' by order of the Supreme Court. The obligation to
ensure or make arrangements for completion of any tasks or functions under these
provisions shall, ,also apply to any section of the Property Board which
continues in operation for any extended period.
6. At the time of winding-up of
the Property Board and each of its sections, each <component state~ shall
purchase any property or assets located within that <component state> which are
still held by the Property Board, and which are no longer required for the
purpose of carrying out its functions or the functions of any section which
continues to operate for an extended period under this Article. Purchase shall
be at a price equal to market value at the time of sale and the proceeds shall
be deposited in the Compensation Fund.
Section B: Handling of
Property transferred to or via the Property Board
Article 9 Handling of
property transferred to or via the Property Board
1 The Property Board shall
receive transfer of title to affected property which is:
a.
Not claimed by a dispossessed owner within the time
period set by these provisions for submission of claims;
Σχόλιο:Η
Επιτροπή Περιουσίας θα παραλάβει τη μεταβίβαση του τίτλου θιγείσης περιουσίας η
οποία δεν διεκδικείται από έναν αποβληθέντα ιδιοκτήτη εντός περιόδου που
καθορίζεται από αυτές τις διατάξεις: Εδώ σημαίνει ότι κάποιος αν δεν κινηθεί
εντός των καθορισμένων χρονοδιαγραμμάτων, ανεξάρτητα από τον λόγο, χάνει το
δικαίωμα τίτλου περιουσίας το οποίον μεταφέρεται εις την επιτροπή περιουσίας.
b. Owned by a dispossessed
owner who receives compensation from the Property Board or title to another
property in exchange for his/her title; or
c. Owned by a dispossessed
owner who disposed of his/her interest in an affected property of which s/he was
the current user, in exchange for transfer of title to such affected property to
the subsequent purchaser (or his her successors in title) in accordance with
Article 12.
2. In disposing of property
transferred to it under these provisions, the Property Board shall, in this
sequence:
a. Offer the property for sale
to the current user at current value;
b. Offer the property for sale
to persons hailing from the <component state> in which the property is located,
at current value, including potentially in exchange; for compensation bonds;
c. Use 1t as alternative
accommodation; or
d. Otherwise dispose of it in a
prudent manner, at market value, to generate funds for compensation purposes.
3. In all cases and at all
times, the Property Board shall supervise management of property transferred to
it or otherwise under .its control in a prudent manner and in accordance with
these provisions.
4. All funds generated from the
sale or use of affected property held by the Property Board shall be deposited
into the Compensation Fund.
Section C:
Decision-making and claims for affected property
Article 10 Decision-making
The Property Board shall aim to
reach all decisions by consensus. If the members are unable to reach consensus
on a decision, the decision shall be taken by majority vote.
The Property Board shall
consider any relevant material or evidence put before it in respect of any claim
for affected property or any other matter, which is within its jurisdiction or
decision-making power.
Article 11 Claims procedure
1. A dispossessed owner shall
be entitled to file a claim with the Property Board for recognition of his/her
interest in or title to affected property. In filing a claim for recognition of
an interest or title, a claimant shall also specify how s/he seeks to exercise
his/her property rights, namely by way of:
a. Compensation;
b. Reinstatement; or
c. Sale, exchange or lease.
Σχόλιο:
Διαδικασία Διεκδίκησης.
Ένας εκτοπισμένος ιδιοκτήτης κάνει αίτημα στην επιτροπή περιουσίας και διεκδικεί
τον τρόπο ασκήσεως του δικαιώματος μέσω α) Επανόρθωσης, β) Επανεγκατάστασης και
γ) Πώλησης ανταλλαγής ή εκμίσθωσης.
2.
A current user of an affected property who is also a
dispossessed owner, or a
person who owns a significant improvement to an affected property may apply to
receive title to such properties.
Σχόλιο:Ο
παρών χρηστής αμφισβητούμενης περιουσίας θα έχει πιο καλό και πιο ισχυρό
δικαίωμα παραμονής σε περιουσία κάποιου άλλου
αφού έχει και ο ίδιος εκτοπισθεί και όταν ζητά τίτλο, θα του δίδεται και έτσι
καταπατώντας τα δικαιώματα του νόμιμου πολίτη.
3. Claims or applications
for transfer of title must be filed within a period of one year, commencing on a
date to be determined by the Property Board which shall be no later than one
year after entry into force of the Foundation Agreement. The decision fixing the
relevant date shall be published in the Official Gazettes of the <common state>
and the <component states>, in the most widely circulated newspaper of each
<component state> and in any, other such appropriate manner as determined by the
Property Board.
Σχόλιο:Εάν δηλαδή κάποιος δεν
κάνει αξίωση για θεραπεία εντός 1 χρόνου τότε βάση του Α9(1)(α) χάνει
οποιοδήποτε δικαίωμα
για θεραπεία και αποκατάσταση χωρίς καν
να γίνει έρευνα ή να του δοθεί δικαίωμα να ακουστεί γιατί δεν προσέφυγε ως
εκείνη την ημερομηνία.
4. A claim or application shall
be filed together with certified copies of any available evidence of the
claimant's or applicant's interest in or title to the affected properly.
5. Holders of a part interest
in or title to an affected property shall, wherever possible, file joint claims.
6. Further detailed
requirements for the filing and determination, of claims and applications in
respect of affected property shall be set out in rules, regulations, procedures,
forms, evidence and any other instruments adopted by the Property Board in
accordance with these provisions.
Article 12 Determination of
claims and applications
1. Upon receipt of any claim
for affected property, the Property Board shall, following any necessary
investigation and verification, determine whether the claimant has a lawful
interest in the property.
2.Upon receipt of any
application with respect to affected properly, the Property Board shall,
following any necessary investigation and verification, determine whether the
applicant has a sufficient interest in the properly under these provisions.
3. If the Property Board
determines that the claimant or applicant is not the sole dispossessed owner or
person with an interest in the affected property,
it shall make reasonable efforts to
contact the other interested parties, including the current user, before
deciding the claim or application.
Σχόλιο:Τι
σημαίνει εύλογες προσπάθειες ποιο το μέτρο κρίσης;
4. The Property Board shall
then determine whether the claimant or applicant is entitled to exercise his/her
rights in the manner requested in the claim or otherwise under these provisions.
5. In its decision, the
Property Board shall, if possible, state the name and interest of any other
holder of a lawful interest in the properly. Where it has been unable to locate
or contact such persons before deciding the claim or application, it shall
publish its decision in an appropriate manner. '
6. In its decision, the
Property Board shall also indicate the steps necessary for the execution or
implementation of the decision and, where appropriate, shall order that they be
taken within specified time frames.
7. If the Property Board
decides that a claimant or applicant has no legal interest in the claimed
affected property, it shall reject the claim or
application. At the same time, it may decide on the interests of the
other parties to the proceedings and issue orders with respect to the property
as appropriate.
Σχόλιο:Τι
γίνεται αφού δεν έχει δικαιοδοσία Ανώτατο Δικαστήριο θα χρειαστεί να προσφύγει
κάποιος απευθείας στο Ευρωπαϊκό Δικαστήριο Ανθρωπίνων Δικαιωμάτων στο
Στρασβούργο;
Article 13 Decisions on
reinstatement
1. Upon determination that a
properly is eligible to be reinstated, the Property Board shall inform the
claimant of its decision. It shall hold the case as pending
until all claims for reinstatement have been reviewed,
in order to determine the priority for reinstatement in accordance with Article
15 of Annex VII.
Σχόλιο:Δηλαδή
έως ότου όλα τα αιτήματα για επανεγκατάσταση μελετηθούν όλα θα
θεωρούνται ότι εκκρεμούν;
2. The Property Board shall
endeavour to determine the eligibility of all claims for reinstatement before
issuing final decisions on reinstatement. If the determination of eligibility in
some cases is delayed, because of exceptional circumstances, the Property Board
may, issue final decisions on reinstatement as soon as it has determined the
eligibility of at least 90% of the claims for reinstatement. Reinstatement shall
only be granted. In the delayed cases if the agreed levels for reinstatement
have not yet been reached, irrespective of the priority that the claimant might
otherwise have had.
3. The Property Board shall
issue final decisions on reinstatement of properties that are not subject to the
agreed levels of reinstatement in Article 15 of Annex VII as soon as it has
determined their eligibility for reinstatement.
4.Upon issuing a final decision
on reinstatement, the Property Board shall inform the current user of the
affected property of the decision, of his/her obligation to vacate the affected
property and- of his/her rights to alternative accommodation; it may also inform
the authorities of the relevant <component state> responsible for enforcement
and implementation of the decision.
5. Reinstatement shall only
occur after the current user has been provided with alternative accommodation or
the final deadline for vacating the property as determined by the Property Board
in accordance with Attachment 3 has expired, whichever is the sooner.
Σχόλιο:Όταν
λήξη η προθεσμία πριν βρεθεί υπαλλακτικός χώρος εγκατάστασης που θα παν αυτοί
που δεν θα έχουν πουθενά να πάνε;
Section D: Assistance
with sale. exchange or lease
Article 14 Assistance with
sale, exchange or lease
1. A dispossessed owner may
request the Property Board for assistance in connection with:
a. Sale of an interest in
affected property
b. Exchange of affected
property for another property of similar value in the <component state> from
where he/she hails;
c. Purchase of an interest in
affected property; or
d. The leasing of affected
property.
2. A current user or other
person may request the Property Board for assistance in connection with the
purchase, exchange or acquisition of a leasehold interest in a property, which,
if available), could enable him/her to vacate the affected property...
3. The Property Board shall
maintain a register of interested dispossessed owners, current users and others
who wish to engage in sale, exchange or lease transactions and keep a record of
such transactions.
4. Upon the request of a
dispossessed owner, current user, or other person wishing to engage in a sale,
exchange or lease transaction, the Property Board may:
a. Offer basic advice and
assistance on options and implications of sale, exchange or lease transactions;
b. Provide services through
mediation to facilitate sale, exchange or lease transactions between interested
parties, on an anonymous or open disclosure basis, as preferred by the parties;
or
c. Provide information about
potential sale, exchange or lease counterparts from its sale, exchange and lease
register, to other bona fide interested parties, in cases where the relevant
person has given consent to disclosure of such information.
Article 15 Standard form
lease
The Property Board shall
provide on request a standard form of lease agreement.
Article 16 Sale, exchange
and lease: other assistance
1. The Property Board shall
refer any interested party on request to a list of real estate agents of a high
professional standard, who are acting in one or both <component states> and who
can assist persons seeking advice regarding sale, exchange or lease transactions
in one or both <component states>.
2. Subject to these provisions,
the Property Board's involvement in a sale, exchange or lease transaction shall
be limited to conveying information between the counterparts to the potential
transaction. The Property Board shall not be responsible for negotiation or
completion of contractual arrangements, nor any resulting dispute or loss.
Section E: Compensation
fund and bonds
Article 17 Compensation Fund
A Compensation Fund shall be
established in the Central Bank of Cyprus and administered by the Property
Board. The <common state> shall provide the initial
capital of X [insert figure] to the Fund. In addition, the Fund shall
receive all proceeds from the use or disposal of property that has been
transferred to the Property Board and contributions from international donors.
Σχόλιο:Εδώ
το κοινό κράτος θα παρέχει το αρχικό κεφάλαιο για το Ταμείο Αποζημιώσεως
δημιουργώντας το εξής παράλογο ότι θα πληρώνουμε εμείς φόρους για να
αποζημιωνόμαστε για την ζημία την οποία προκάλεσε η Τουρκική εισβολή
.
Article 18 Use of
compensation bonds
1. The Property Board shall
issue bonds drawn on the Compensation Fund, known as 'compensation bonds'.
Σχόλιο:Δηλαδή
όχι μόνο κάποιοι θα είναι υποχρεωμένοι να δέχονται την αποζημίωση αλλά δεν
θα λάβουν ούτε και αποζημίωση άμεσα θα έχουν μόνο κάποια ομόλογα τα
οποίο δεν θα μπορούν να εξαργυρώνουν.
2. Compensation bonds shall
bear interest of X % [insert figure] per year.
3. Compensation bonds may be
used by holders for the following purposes:
a. To purchase affected
property from the holdings of the Property Board at current value; or
b. To procure the payment by
the Property Board of a deposit for purchase of alternative accommodation on the
open market; or
c. For sale to any person, who
thereby acquires all entitlements of the initial holder.
4. Compensation bonds and
interest thereon shall be guaranteed by the <common state>.
5. X years [insert figure] after entry into force of the Foundation Agreement,
compensation bonds shall be redeemable for cash from the Compensation Fund.
Thereafter, the Compensation Fund shall be wound up and the <common state> shall
receive any surplus remaining in the Fund or cover its deficit, as applicable.
Proceeds of any subsequent sale of affected property from the holdings of the
Property Board shall go directly to the <common state>, which shall be obliged
to pay any compensation Which may be awarded by the Property Board after the
winding-up of the Compensation Fund.
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