Page:United States Statutes at Large Volume 60 Part 2.djvu/668

 60 STAT.] INDIA-MUTUAL AID SETTLEMENT-MAY 16, 1946 (d) In consideration of the undertakings in this Agreement, and with the objective of arriving at as comprehensive a settlement as possible and of obviating protracted negotiations between the two Governments, all other financial claims whatsoever of one Government against the other which arose out of lend-lease or reciprocal aid, or otherwise arose on or after September 3, 1939 and prior to September 2, 1945, out of or incidental to the conduct of World War II, and which are not otherwise dealt with in this Agreement, are hereby waived, and neither Government will hereafter raise or pursue any such claims against the other. 7. (a) The Government of the United States, in consideration of the mutual undertakings described in this Agreement, hereby acknowl- edges that the Government of India has acquired full title to all United States property in India which has heretofore been declared to the Office of the Foreign Liquidation Commissioner, United States Depart- ment of State, as surplus to the requirements of the United States Department of State or the United States War or Navy Departments, and which has heretofore been delivered to the Government of India or is in the process of being delivered to the Government of India; and will hereafter acquire full title to all United States property in India hereafter declared to the Office of the Foreign Liquidation Commissioner, United States Department of State, as surplus to the requirements of the United States Department of State or the United States War or Navy Departments. (b) The Government of India will undertake and vigorously prosecute a program of disposal of the property described in paragraph (a) above with a view to obtaining the best possible return therefor, but such disposal shall be in conformity with such directives as the Government of India has issued and may issue from time to time which apply equally to the disposal of its own surplus and those of the Government of the United Kingdom. This disposal program will be so conducted as to accord the same treatment to the property described in paragraph (a) above and to surpluses of the Government of the United Kingdom located in India and of the Government of India. Members and veterans of the United States armed forces in India, United States agencies, citizens, corporations, firms and non- profit institutions in India and the United Nations Relief and Rehabilitation Administration will be accorded opportunity to buy on the same basis as is accorded to other buyers of like character in India. (c) The Government of India agrees to report to the Govern- ment of the United States, at quarterly periods, beginning September 30, 1946, the amount of proceeds in rupees arising from the disposal of the property covered by this section. The term "proceeds" as used herein means the gross proceeds received by the Director General of Disposals of the Government of India from the sale of such property, minus the normal customs duties paid by buyers of imported goods, as collected by the Government of India through inclusion of such 1757 Waiver of certain claims. Title to surplus property. Disposal of surplus property. Quarterly report to U. S. of proceeds from sales. "Proceeds."

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