Page:United States Statutes at Large Volume 62 Part 2.djvu/1126

 62 STAT.] IRELAND-ECONOMIC COOPERATION-JUNE 28, 1948 the productive capacity of Ireland and the other participating countries, and projects or programs the external costs of which are being covered by assistance rendered by the Government of the United States of America under the Eco- nomic Cooperation Act of 1948 or otherwise, or by loans from the International Bank for Reconstruction and Development; (b) expenditures upon the exploration for and development of additional production of materials which may be required in the United States of America because of deficiencies or potential deficiencies in the resources of the United States of America; and (c) effective retirement of the national debt, especially debt held by the Central Bank or other banking institutions. 7. Any unencumbered balance, other than unexpended amounts allocated under paragraph 4 of this Article, remaining in the Special Account on June 30, 1952, shall be disposed of within Ireland for such purposes as may hereafter be agreed between the Governments of the United States of America and Ireland, it being understood that the agreement of the United States of America shall be subject to approval by Act or joint resolution of the Congress of the United States of America. Article V. (Access to Materials) 1. The Government of Ireland will facilitate the transfer to the United States of America, for stockpiling or other purposes, of mate- rials originating in Ireland which are required by the United States of America as a result of deficiencies or potential deficiencies in its own resources, upon such reasonable terms of sale, exchange, barter or otherwise, and in such quantities, and for such period of time, as may be agreed to between the Governments of the United States of America and Ireland, after due regard for the reasonable requirements of Ireland for domestic use and commercial export of such materials. The Government of Ireland will take such specific measures as may be necessary to carry out the provisions of this paragraph, including the promotion of the increased production of such materials within Ireland, and the removal of any hindrances to the transfer of such materials to the United States of America. The Government of Ireland will, when so requested by the Government of the United States of America, enter into negotiations for detailed arrangements necessary to carry out the provisions of this paragraph. 2. The Government of Ireland will, when so requested by the Government of the United States of America, negotiate such arrange- ments as are appropriate to carry out the provisions of paragraph (9) of sub-Section 115 (b) of the Economic Cooperation Act of 1948, which relates to the development and transfer of materials required by the United States of America. 2413 62 Stat., Pt. 1, p. 137. Disposition of un- encumbered balances. Post, p. 2418. Poat, p. 2419. 62 Stat., Pt. 1. p. 152. 68706°-51-PT. II 71

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