r
term of office shall be renewable.
The members of the Committee may not be bound by any mandatory
instructions. They shall be completely independent in the performance
of their duties, in the general interest of the Community.
ARTICLE 198b
The Committee of the Regions shall elect its chairman and officers
from among its members for a term of two years.
It shall adopt its rules of procedure and shall submit them for approval
to the Council, acting unanimously.
The Committee shall be convened by its chairman at the request of the
Council or of the Commission. It may also meet on its own initiative.
ARTICLE 198c
The Committee of the Regions shall be consulted by the Council or by
the Commission where this Treaty so provides and in all other cases
in which one of these two institutions considers it appropriate.
The Council of the Commission shall, if it considers it necessary, set
the Committee, for the submission of its opinion, a time-limit which
may not be less than one month from the date on which the chairman
receives notification to this effect. Upon expiry of the time-limit the
absence of an opinion shall not prevent further action.
Where the Economic and Social Committee is consulted pursuant to
Article 198, the Committee of the Regions shall be informed by the
Council of the Commission of the request for an opinion. Where it
considers that specific regional interests are involved, the Committee
of the Regions may issue an opinion on the matter.
It may issue an opinion on its own initiative in cases in which it
considers such action appropriate.
The opinion of the Committee, together with a record of the
proceedings, shall be forwarded to the Council and to the
Commission."
68) The following chapter shall be inserted:

"CHAPTER 5
EUROPEAN INVESTMENT BANK
ARTICLE 198d
The European Investment Bank shall have legal personality.
The members of the European Investment Bank shall be the Member
States.
The Statute of the European Investment Bank is laid down in a
Protocol annexed to this Treaty.
ARTICLE 198e
The task of the European Investment Bank shall be to contribute, by
having recourse to the capital market and utilizing its own resources,
to the balanced and steady development of the common market in the
interest of the Community. For this purpose the Bank shall, operating
on a non-profit-making basis, grant loans and give guarantees which
facilitate the financing of the following projects in all sectors