Article I: Commission on Public Corporations
- The Parties hereby establish a Commission on Public Corporations (the "Commission") to examine
establishing Bosnia and Herzegovina Public Corporations to operate joint public facilities, such as for the
operation of utility, energy, postal and communication facilities, for the benefit of both Entities.
- The Commission shall have five Members. Within fifteen days after this Agreement enters
into force, the Federation of Bosnia and Herzegovina shall appoint two Members, and the
Republika Srpska one Member. Persons appointed must be familiar with the specific economic,
political and legal characteristics Bosnia and Herzegovina and be of high recognized moral
standing. Recognizing that the Commission will benefit from international expertise, the Parties
request the President of the European Bank for Reconstruction and Development to appoint the
remaining two Members and to designate one as the Chairman.
- The Commission shall in particular examine the appropriate internal structure for such
Corporations, the conditions necessary to ensure their successful, permanent operation, and the
best means of procuring long-term investment capital.
Article II: Establishment of a Transportation Corporation
- The Parties, recognizing an immediate need to establish a Public Corporation to organize and
operate transportation facilities, such as roads, railways and ports, for their mutual benefit,
hereby establish a Bosnia and Herzegovina Transportation Corporation (the "Transportation
Corporation") for such purpose.
- The Transportation Corporation shall have its headquarters in Sarajevo and may have
offices at other locations as it deems appropriate. It shall have appropriate facilities and choose
a professionally competent Board of Directors, Officers and Staff, generally representative of
the ethnic groups comprising Bosnia and Herzegovina, to carry out its functions. The
Commission shall choose the Board of Directors, which shall in turn appoint the Officers and
select the Staff.
- The Transportation Corporation is authorized to construct, acquire, hold, maintain and
operate and dispose of real and personal property in accordance with specific plans that it
develops. It is also authorized to fix and collect rates, fees, rentals and other charges for the use
of facilities it operates; enter into all contracts and agreements necessary for the performance of
its functions; and take other actions necessary to carry out these functions.
- The Transportation Corporation shall operate transportation facilities as agreed by the
Parties. The Parties shall, as part of their agreement, provide the Corporation with necessary
legal authority. The Parties shall meet within fifteen days after this Agreement enters into force
to consider which facilities the Corporation will operate.
- Within thirty days after this Agreement enters into force, the Parties shall agree on sums of
money to be contributed to the Transportation Corporation for its initial operating budget. The
Parties may at any time transfer to the Transportation Corporation additional funds or facilities
that belong to them and the rights thereto. The Parties shall decide the means by which the
Transportation Corporation will be authorized to raise additional capital.