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Article 22

The Board’s Executive Bureau
The Chamber shall have an administrative body assigned to fulfill the executive tasks pertaining to the Chamber’s functions and activities in accordance with the provisions of this Law and the Chamber’s bye-law.

The rules governing the appointment of employees, their powers, responsibilities, assessment, punishment and dismissal as well as the pension & retirement system, and other provisions related to the adoption of the organizational structure of the Chamber’s administrative body, shall be subject to the provisions of the regulations of the personal affairs issued by the Board.

Article 23
The Director General
The Chamber shall have a Director General to be appointed by a decision of the Board upon the nomination made by the Executive Bureau.
He shall be assigned to preside over the Chamber’s administrative body and manage the Chamber’s financial, technical and administrative affairs. His power and tasks shall be determined by the Executive Regulations.
The Directors General shall have a Deputy Directors General, who shall be appointed in the same manner and shall help the Directors General to accomplish the tasks assigned to him, and shall replace the Directors General whenever the latter is absent.

Article 24
The Chamber’s Budget
a. The Chamber shall have an independent budget adopted by the Board and funded by the following recourses:

· The annual membership fees, the fees of issuing certificates and attesting commercial documents and others.
· Yields of the Chamber’s invested funds and its real estates.
· Revenues from facilities available at the Chamber’s premises and the various services provided to members and non-members and the yield of the sale of publications. The prices for such facilities and services shall be fixed by Board’s decision.
· Subsidies, donations and endowments that the Board decides to accept.

b. The Director General shall prepared a draft annual budget for the Chamber to be referred to the Executive Bureau two months prior to the beginning of the new financial year. The Board shall adopt the annual budget before the beginning of the following year.
c. Appropriations shall not be relocated from once to another section of the budget unless by a decision made by the Board. However, relocation can be done from one item to another in the same section of the budget by a decision of the Executive Bureau.
d. The Board may-during the financial year add new items to the Chambers published budget, and may also increase the number of employees, provided that such expenses shall be supported by appropriations not used by the budget’s other items or by the surplus revenues.
e. The Director General shall prepare the draft final statements of account within two months as from the end of the financial year. He shall refer the statements and the attached auditor’s report to the Bureau for approval.

Article 25
The Chamber shall independently manage and dispose of its own funds. However, the Chamber’s funds shall not be spent except in the scope of the objectives for which the Chamber was established. Expenses shall be settled and orders for payment shall be given, provided that the amounts due for such expenses had been determined and legally due and the appropriations for such expenses are available in the budget.

The management of the Chamber’s funds, its accounting system, methods of revenues and the means for preserving, spending and managing its funds thereof, the rules of investment, and the organization of internal financial control shall all be subject to the provisions of the Executive Regulations and the financial and accounting regulations set forth by the Board.

Article 26
The Chamber’s funds shall be considered as public funds. Any party having a debt or obligation on the Chamber shall not recover that by seizure, attachment, sale by auction, acquisition of the Chamber’s funds, or by any legal action whether a final judgment regarding such debt or obligation, was pronounced or not.

Article 27
The Auditor
The Board shall – at the beginning of each financial year – appoint an auditor registered on the accountants and auditors roster, who shall revise the annual financial statements of the relevant year. The auditor shall present a report on the audit with his remarks to the Chairman of the Board.

The auditors shall have the right to have access – at any time – to all the chamber’s books, records and documents, and to request the data that he may deem necessary for his work. He shall be entitled to check the Chamber’s assets and liabilities.
If the auditor is prevented from performing his duties or is not given the chance to duly perform such duties, he shall state the same in a report to be referred to the Chairman of the Board.