Page:United States Statutes at Large Volume 61 Part 5.djvu/51

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [61 STAT. 3. The CONThACTING PARTIES shall seek agreement with the Fund regarding procedures for consultation under paragraph 2 of this Article. 4 Contracting parties shall not, by exchange action, frustrate ['] the intent of the provisions of this Agreement, nor, by trade action, the intent of the provisions of the Articles of Agree- ment of the International Monetary Fund. [2] 5. If the CONTRACTING PARTIES consider, at any time, that exchange restrictions on payments and transfers in connection with imports are being applied by a contracting party in a manner inconsistent with the exceptions provided for in this Agreement for quantitative restrictions, they shall report thereon to the Fund. 6. Any contracting party which is not a member of the Fund shall, within a time to be determined by the CONTRACTING PARTIES after consultation with the Fund, become a member of the Fund, or, failing that, enter into a special exchange agreement with the CONTRACTING PARTIES, A contracting party which ceases to be a member of the Fund shall forthwith enter into a special exchange agreement with the CONTRACTING PARTIES. Any special exchange agreement entered into by a contracting party under this paragraph shall thereupon become part of its obligations under this Agreement. 7. (a) A special exchange agreement between a contracting party and the CONTRACTING PARTIES under paragraph 6 of this Article shall provide to the satisfaction of the CONTRACTING PARTIES that the objectives of this Agreement will not be frustrated as a result of action in exchange matters by the contracting party in question. I [PoSt, p. A88.] a [60 Stat. 1401.] A50

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