Subsection 3: Credit Advisory Committee in New Caledonia

The Credit Advisory Committee instituted by Article 214 of Organic Law No. 99-209 of 19 March 1999 relating to New Caledonia comprises, in addition to the High Commissioner of the Republic, the Chairman:1° Six representatives of the State:a) The Secretary General of the High Commission or his representative;b) The Director of Public Finance for New Caledonia or his representative;c) The Director of the local branch of the Institut d’émission d’outre-mer…

The Credit Advisory Committee is consulted by the High Commissioner of the Republic on credit problems in New Caledonia.

The Credit Advisory Committee meets at least once a year at the invitation of its Chairman, either on his own initiative or within one month of a written request being made to him by at least ten of its full members. This request shall state the subject on which consultation is sought.The Credit Advisory Committee may not validly deliberate if the number of members present is less than ten. If…

The secretariat of the Credit Advisory Committee is provided by the Director in charge of New Caledonia’s Public Finance Department or his/her representative. The secretary draws up minutes of the committee’s meetings.

The duties of members of the Credit Advisory Committee are free of charge.Members of the Committee who are not civil servants or State employees are treated in the same way for the purposes of reimbursement of their travel expenses as civil servants performing duties of a comparable level.