The Budget Committee
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The Budget Committee shall be composed of one repre sentative of each Contracting Member State.
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Each Contracting Member State shall have one vote.
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The Budget Committee shall take its decisions by a simple majority of the representatives of the Contracting Member States. However, a majority of three-quarters of the represen tatives of Contracting Member States shall be required for the adoption of the budget.
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The Budget Committee shall adopt its rules of procedure.
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The Budget Committee shall elect a chairperson from among its members for a term of three years. That term shall be renewable.