Page:United States Statutes at Large Volume 61 Part 4.djvu/269

 61 STAT.] UNITED KINGDOM-GERMANY-DEC. 17, 1947 3613 "4 (a) Responsibility for foreign trade shall rest initially with Responsibility for the Joint Export-Import Agency (United States/United King- dom). This responsibility shall be transferred to German ad- ministrative agencies under the supervision of the Joint Export- Import Agency to the maximum extent permitted by the restric- tions existing in foreign countries at any given period. "(b) Except in so far as the use to which they shall be put has pendduleso funords been determined in advance by agreement between the two Gov- ernments, and subject to the authority of each Government over the expenditure of its own appropriated funds, and any legisla- tive limitations which may be placed thereon, the appropriated funds available for carrying out the terms of this Agreement shall be expended in accordance with schedules established by the Joint Export-Import Agency. These schedules shall be drawn up in accordance with the general policies of the two Military Governors (constituting the Bipartite Board) and shall be used as a basis for procurement in accordance with the pro- visions of paragraph 8 of this Agreement, subject to any amend- Po, p 3615. ment effected by agreement between the two Governments. "(c) The Joint Export-Import Agency shall be responsible for A'ppror a tl ofeimports and exports, etc. the approval of all imports and exports and for procurement in accordance with its responsibilities under the provisions of para- graph 8 of this Agreement, subject to any amendment effected by agreement between the two Governments. It shall be the responsibility of the Joint Export-Import Agency to develop a maximum export program consistent with the accomplishment of over-all objectives in Germany and in conformity with the policy of the two Governments gradually to transfer responsibility to German administrative agencies. The Bipartite Board shall fa- cilitate the work of the Joint Export-Import Agency in develop- ing such a program. "(d) The Joint Export-Import Agency and the Joint Foreign ciOsac.li to.f ,,- Exchange Agency shall operate in accordance with the general 'ci'so'ripartitciri. policies of the Bipartite Board to conduct or to supervise the im- port and export trade of the Bizonal Area. Each of these agen- cies shall be governed by a board of directors, to which the respec- tive Military Governors shall each appoint an equal number of members. The decisions of the board of directors shall be determined by the majority vote of its members. The members appointed by each Military Governor shall vote as a group. Each group shall have a voting strength in relation to the other group equal to the proportion which the appropriated funds made avail- able by their respective Governments under the provisions of this Agreement, or any subsequent amending agreement, plus the funds contributed by each Government to the capital of the Joint Export-Import Agency, bear to the total funds made avail- able by the two Governments for these purposes. 95347--50 --PT. I-- -18

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