Page:United States Statutes at Large Volume 60 Part 2.djvu/462

 00 STAT.] UNITED KINGDOM-MUTUAL AID SETTLEMENT-MAR. 27,1946 H. WITHDRAWALS BY THE GOVERNMENT OF THE UNITED KING- DOM AGAINST ITS SHARE OF INVENTORIES IN THE PACIFIC The Government of the United Kingdom has notified the Govern- ment of the United States of the quantities of petroleum products, as set out in Annex VIII, which it wishes to withdraw from stocks Po, p.1W7. in the Pacific against its reciprocal aid share of such stocks. The Government of the United Kingdom has the right to withdraw such quantities at any time. I. TITLE TO INVENTORIES AND TO PETROLEUM PRODUCTS DESIGNATED FOR WITHDRAWAL In so far as either the Government of the United States or the Government of the United Kingdom does not already hold title to petroleum inventories or to petroleum products designated for with- drawal: (1) The Government of the United States hereby acquires and shall be deemed to have acquired on September 2, 1945 full title (a) to all petroleum products designated for withdrawal by the Government of the United States pursuant to section G hereof, and (b) to all petroleum inventories located outside the United Kingdom which were within the possession of the Government of the United States as of September 2, 1945, or were subsequently transferred to it under United Kingdom Government directive, except for the quantities designated for withdrawal after September 1, 1945 by the Government of the United Kingdom pursuant to section H hereof. (2) The Government of the United Kingdom hereby acquires and shall be deemed to have acquired on September 2, 1945 full title (a) to all petroleum products designated for withdrawal by the Government of the United Kingdom pursuant to section H hereof, and (b) to all petroleum inventories in its possession as of September 2, 1945 or subsequently transferred to it under United States Joint Chiefs of Staff directive, except for quan- tities designated for withdrawal by the Government of the United States after September 1, 1945 pursuant to section G hereof. A summary of petroleum inventories and of petroleum products designated for withdrawal, title to which is deemed to pass in accord- ance with this section, is given in Annex IX. J. FINANCIAL SETTLEMENT FOR INVENTORIES, WITHDRAWALS AND TRANSFERS 1. Settlement for Inventories and Transfers of Stocks. Title to petroleum products acquired by the Governments of the United States and of the United Kingdom under the terms of section I of this Agreement which had been furnished under lend-lease and recip- rocal aid prior to September 2, 1945, shall be deemed to have been transferred in consideration of mutual transfers of the title to such products and in partial consideration of the payment of the net amount of $532,000,000 by the Government of the United Kingdom 80634-48- -PT. -- 29 Po, p. 1567. 1551

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