Page:United States Statutes at Large Volume 60 Part 2.djvu/340

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [60 STAT. (i) The period of ninety days shall be extended so as to end on a date to be fixed by agreement between the Fund and the member. (ii) Within the extended period the member may, if the Fund has begun exchange transactions, buy from the Fund with its currency the currencies of other members, but only under such conditions and in such amounts as may be prescribed by the Fund. (iii) At any time before the date fixed under (i) above, changes may be made by agreement with the Fund in the par value communicated under (a) above. (e) If a member whose metropolitan territory has been occupied by the enemy adopts a new monetary unit before the date to be fixed under (d) (i) above, the par value fixed by that member for the new unit shall be communicated to the Fund and the provisions of (d) above shall apply. (f) Changes in par values agreed with the Fund under this Section shall not be taken into account in determining whether a proposed Ante, p. 1404. change falls within (i), (ii), or (iii) of Article IV, Section 5 (c). (g) A member communicating to the Fund a par value for the cur- rency of its metropolitan territory shall simultaneously communicate a value, in terms of that currency, for each separate currency, where such exists, in the territories in respect of which it has accepted this Ante, p. 1426. Agreement under Section 2 (g) of this Article, but no member shall be required to make a communication for the separate currency of a ter- ritory which has been occupied by the enemy while that territory is a theater of major hostilities or for such period thereafter as the Fund may determine. On the basis of the par value so communicated, the Fund shall compute the par value of each separate currency. A com- munication or notification to the Fund under (a), (b) or (d) above regarding the par value of a currency, shall also be deemed, unless the contrary is stated, to be a communication or notification regarding the par value of all the separate currencies referred to above. Any member may, however, make a communication or notification relating to the metropolitan or any of the separate currencies alone. If the member does so, the provisions of the preceding paragraphs (including (d) above, if a territory where a separate currency exists has been occupied by the enemy) shall apply to each of these currencies separately. B eginning of ex- (h) The Fund shall begin exchange transactions at such date as it may determine after members having sixty-five percent of the totel Post, p. 1432. of the quotas set forth in Schedule A have become eligible, in accord- ance with the preceding paragraphs of this Section, to purchase the currencies of other members, but in no event until after major hostilities in Europe have ceased. (i) The Fund may postpone exchange transactions with any mem- ber if its circumstances are such that, in the opinion of the Fund, they would lead to use of the resources of the Fund in a manner 1428

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