Page:United States Statutes at Large Volume 61 Part 5.djvu/90

. A89 by exchange action shall not be regarded as a violation of that Article if, in practice, there is no appreciable departure from the intent of the Article. Thus, a contracting party which, as part of its exchange control operated in accordance with the Articles of Agreement of the International Monetary Fund, (['requires payment to be received for its exports in its own currency or in the currency of one or more members of the International Monetary Fund will not thereby be deemed to contravene Article XI or Article XIII. Another example would be that of a contracting party which specifies on an import licence the country from which the goods may be imported, for the purpose not of introducing any additional element of discrimination in its import licensing system but of enforcing permissible exchange controls. ad ARTICLE XVII Paragraph 1 The operations of Marketing Boards, which are established by contracting parties and are engaged in purchasing or selling, are subject to the provisions of sub-paragraphs (a) and (b). The activities of Marketing Boards which are established by contracting parties and which do not purchase or sell but lay down regulations covering private trade are governed by the relevant Articles of this Agreement. The charging by a state enterprise of different prices for its sales of a product in different markets is not precluded by the provisions of this Article, provided that such different prices are charged for commercial reasons, to meet conditions of supply and demand in export markets. Paragraph 1 (a) Governmental measures imposed to ensure standards of quality and efficiency in the operation of external trade, or privileges granted for the exploitation of national natural resources but which do not empower the government to exercise control over the trading activities of the enterprise in question, do not constitute "exclusive or special privileges". Paragraph 1 (b) A country receiving a "tied loan" is free to take this loan into account as a "commercial consideration" when purchasing requirements abroad. Paragraph 2 The term "goods" is limited to products as understood in commercial practice, and is not intended to include the purchase or sale of services. ad ARTICLE XXIV Paragraph 5 Measures adopted by e nd ia and Pakistan in order to carry out definitive trade arrangements between them, once they have been [t0 Stat. 1401.1 i;1 S .i ;t NI:Is I. A\I. 1 I NT.l;». II'I'1 N NTAI1tl l''l'S A-I)NI'TitAII- ("'. 3i. I9l4T

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