Previous Section | Next Section | Table of Contents

ARTICLE TEN
SUPERVISION BY THE COURTS

10.01 Supervising Role of the Courts (top)

1. The Courts will issue judgments or orders in such form as is necessary to implement and enforce the provisions of this Agreement and will supervise the ongoing performance of this Agreement including the Plans and the Funding Agreement. Without limiting the generality of the foregoing, the Courts will:
   
1. appoint and, if necessary, remove the Administrator;
2. appoint and, if necessary, remove the Trustee;
3. appoint and, if necessary, remove the Fund Counsel;
4. appoint and, if necessary, remove the Auditors;
5. appoint and, if necessary, remove any member of the Joint Committee;
6. appoint and, if necessary, remove any Referee or Arbitrator;
7. appoint and, if necessary, remove any Investment Advisor;
8. approve, rescind or amend the protocols submitted by the Joint Committee or any Class Action Counsel;
9. on application of any Party or the Joint Committee made within 180 days after (i) 31 December 2001 and (ii) each third anniversary of such date, and on application of the Joint Committee or any Class Action Counsel or the Fund Counsel made at any time, assess the financial sufficiency of the Trust Fund and determine, among other things, (A) whether the restrictions on payments of amounts in full in the Plans should be varied or removed in whole or in part, and (B) whether the terms of the Plans should be amended due to a financial insufficiency or anticipated financial insufficiency of the Trust Fund;
10. hear motions opposing confirmation of any Referee’s reports;
11. on application of the Joint Committee, approve the terms of investment guidelines for the assets of the Trust;
12. on application of the Administrator, Fund Counsel, the Auditors, any Class Action Counsel, the Joint Committee or the Trustee, provide advice and direction;
13. approve any amendment or supplement to, or restatement of, this Agreement agreed to in writing by the FPT Governments and the Joint Committee;
14. approve any costs incurred or to be incurred in administering this Agreement including, for greater certainty, the Plans, the Program (up to a maximum of $2 million) and the Funding Agreement and the defence costs payable out of the Trust pursuant to Section 11.02 hereof; and
15. declare this Agreement to be terminated and, if applicable, order that any assets remaining in the Trust Fund be the sole property of and transferred to the FPT Governments.
2. All matters to be determined by the Courts pursuant to Section 10.01(1) will take effect only upon the date when the last judgment or order of the Courts becomes final without any material differences in the three judgments or orders.

Previous Section | Top | Next Section | Table of Contents