Subsection 3: Credit Advisory Committee in French Polynesia

The Credit Advisory Committee instituted by Article 101 of Organic Law No. 2004-192 of 27 February 2004 on the autonomous status of French Polynesia is consulted by the High Commissioner of the Republic on credit issues in French Polynesia.

The Credit Advisory Committee is convened at least once a year by its Chairman, either on his own initiative or within one month of a written request from at least ten of its full members. The 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 quorum is not reached, a new notice of meeting is sent out at least eight days before the date of the new meeting of the Credit Advisory Committee, which then sits validly, regardless of the number of members present.The opinions of the Credit Advisory Committee are adopted by a majority…

The secretariat of the Credit Advisory Committee is provided by the Director in charge of the Public Finance Department of French Polynesia or his 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.