Page:United States Statutes at Large Volume 61 Part 2.djvu/1181

 61 STAT.] MULTILATERAL-PEACE WITH HUNGARY-FEB. 10, 1947 2141 if they have been carried out with the authorization of the Government of one of the Allied and Associated Powers. 4. Notwithstanding the foregoing provisions, contracts of insurance and re-insurance shall be subject to separate agreements between the Gov- ernment of the Allied or Associated Power concerned and the Government of Hungary. B. PERIODS OF PRESCRIPTION 1. All periods of prescription or limitation of right of action or of the right to take conservatory measures in respect of relations affecting per- sons or property, involving United Nations nationals and Hungarian na- tionals who, by reason of the state of war, were unable to take judicial action or to comply with the formalities necessary to safeguard their rights, irrespective of whether these periods commenced before or after the out- break of war, shall be regarded as having been suspended, for the duration of the war, in Hungarian territory on the one hand, and on the other hand in the territory of those United Nations which grant to Hungary, on a recip- rocal basis, the benefit of the provisions of this paragraph. These periods shall begin to run again on the coming into force of the present Treaty. The provisions of this paragraph shall be applicable in regard to the periods fixed for the presentation of interest or dividend coupons or for the presenta- tion for payment of securities drawn for repayment or repayable on any other ground. 2. Where, on account of failure to perform any act or to comply with any formality during the war, measures of execution have been taken in Hungarian territory to the prejudice of a national of one of the United Nations, the Hungarian Government shall restore the rights which have been detrimentally affected. If such restoration is impossible or would be in- equitable, the Hungarian Government shall provide that the United Nations national shall be afforded such relief as may be just and equitable in the circumstances. C. NEGOTIABLE INSTRUMENTS 1. As between enemies, no negotiable instrument made before the war shall be deemed to have become invalid by reason only of failure within the required time to present the instrument for acceptance or pay-

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