OCA Finance Committee members
Dr. Chang retires; OCA aid for Palestine, Japan
10 Jul 2011
Taipei: The OCA Finance Committee met at the Sheraton Taipei Hotel on Sunday, July 10, under the chairmanship of Dr. Feng-Shu Chang for the last time. After 20 years of outstanding service, Dr. Chang has decided to retire from his position as head of the OCA Finance Committee.
Dr. Chang has contributed a lot to the OCA over many years and played a vital role in making the OCA's financial status as secure and healthy as it is today.
The OCA would like to thank Dr. Chang for his hard work and his diligence during his distinguished service as Chairman of the Finance Committee, and will continue to build on such a sound financial footing.
The main decisions and recommendations of the Finance Committee were:
1. With effect from the 18th Asian Games to be held in 2019, the guarantee for the Summer Asian Games is to be increased to USD5 million in the form of: USD2 million as a refundable guarantee by bank transfer to OCA’s account within 60 days of the signing of the Host City Contract, and USD3 million by bank guarantee (refundable) to be established in favour of OCA within 60 days of the signing of the Host City Contract.
2. With effect from the 31st OCA General Assembly, OCA to cover two economy class air tickets, direct routing, for each NOC attending the General Assembly.
3. A sum of USD125,000 to be given as special assistance to NOC Palestine for the rebuilding of war-affected sports facilities, and to NOC Japan as a gesture of cooperation for the JOC’s efforts in rebuilding sports infrastructure affected by the earthquake and tsunami of March 11.
4. Approval of the audited statements of accounts for Olympic Council of Asia, Olympic Solidarity and Incheon’s Vision 2014 programmes for the financial year ending December 31, 2010.
5. Approval of the updates on construction work of OCA and OCA Marks registration initiated in 2008 for 10 countries.