INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. institutions de Belgique, du Congo Belge et du Luxem- bourg qui ont les qualit6s re- quises pour participer a 1'ex- 6cution des programmes con- form6ment a la loi pr6citee; (7) recommander au "Board of Foreign Scholarships" d6sign6 ci-dessus, en vue du choix des personnes appel6es a participer a 1'ex6cution des programmes, les titres que la Fondation jugera necessaires aux fins et objectifs de la Fondation; (8) veiller a la verification p6rio- dique des comptes de la Fon- dation selon les instructions des v6rificateurs design6s par le Secr6taire d'Etat des Etats- Unis d'Am6rique; (9) engager le personnel admi- nistratif, fixer ses emoluments et les payer. Article S. Toutes les depenses de la Fonda- tion seront imput6es a un budget annuel a approuver par le Secre- taire d'Etat des Etats-Unis d'Am6rique, conform6ment aux instructions qu'il pourra prescrire. Article 4. La Fondation ne souscrira aucun engagement et ne contractera au- cune obligation qui engageraient la Fondation au dela des fonds r6ellement disponibles et elle n'ac- querra, d6tiendra ou disposera de biens qu'aux seules fins autoris6es par le present accord. Article 6. L'administration et la direction des affaires de la Fondation seront assurees par un Conseil d'adminis- tration compose de huit adminis- trateurs (appele "Conseil" dans la suite du present accord). ified to participate in the pro- grams in accordance with aforesaid Act. (7) Recommend to the aforesaid Board of Foreign Scholarships such qualifications for the selection of participants in the programs as it may deem necessary for achieving the purpose and objectives of the Foundation. (8) Provide for periodic audits of the accounts of the Founda- tion as directed by the audi- tors selected by the Secretary of State of the United States of America. (9) Engage administrative and clerical staff and fix and pay the salaries and wages thereof. Article 3. All expenditures by the Founda- tion shall be made pursuant to an annual budget to be approved by the Secretary of State of the United States of America pursuant to such regulations as he may prescribe. Article 4. The Foundation shall not enter into any commitment or create any obligation which shall bind the Foundation in excess of the funds actually on hand nor ac- quire, hold, or dispose of property except for the purposes authorized in the present agreement. Article 5. The management and direction of the affairs of the Foundation shall be vested in a Board of Directors consisting of eight di- rectors (hereinafter designated the "Board"). Annual budget. Board of Directors. 3456
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