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40.- Authority to Represent and Legally Bind the NCAC
40.1    Only the following persons in the following cases shall have the authority to represent and legally bind the NCAC:
     a-    by resolution of the majority of the Executive Board, the Chairman shall
             have the authority to represent and legally bind the NCAC in all matters.
     b-    the NCAC shall also be legally bound by the joint signatures of the
            Secretary General and the member of the General Secretariat in
            charge of financial matters in the following cases:

         b.1-    the entering into of any obligation or contract (or series of related
                    obligations or contracts) with an aggregate monetary value of no
                    more than the Executive Board may determine from time to time
                   (or its equivalent in another currency) as provided in a separate
                   decision adopted by the Executive Board.

         b.2-    the payment of any amount of no more than the Executive Board
                   determines or varies from time to time (or its equivalent in another
                   currency) as provided in a separate decision adopted by the Executive
                   Board.
    Noseparation or division of transactions or contracts shall affect the enforcement of the foregoing provisions.

40.2    A person who has joint authority to represent the NCAC in accordance with Article 40.1 shall have the right to give such authority to another person, who must be either a member of the Executive Board or of the staff of the NCAC, for a limited period of time and for a specific purpose, subject to the prior written approval of the Executive Board.

40.3    The Executive Board shall be able to nullify any obligation or contract entered into or payment made on behalf of the NCAC in violation of Article 40. Such nullity shall have retroactive effect. Any person who has acted for the NCAC in violation of any of the provisions of this Article 40 shall be liable, jointly and severally, to the NCAC for any and all damages suffered by it as a result thereof.

40.4    The Secretary General shall ensure that the relevant provisions of Article 40 shall be published.  

40.5    For the avoidance of doubt, this Article 40 relates only to the authority to represent and legally bind the NCACvis-a-vis third parties and does not provide or affect any rules with regard to the decision-making authority within the NCAC.
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