Page:United States Statutes at Large Volume 62 Part 2.djvu/1310

 62 STAT.] UNITED KINGDOM-ECONOMIC COOPERATION-JULY 6, 1948 2. Taking into account Article 8 of the Convention for European Economic Co-operation, [1] looking toward the full and effective use of manpower available in the participating countries, the Government of the United Kingdom will accord sympathetic consideration to pro- posals made in conjunction with the International Refugee Organisa- tion directed to the largest practicable utilisation of manpower avail- able in any of the participating countries in furtherance of the ac- complishment of the purposes of this Agreement. 3. The Government of the United Kingdom will take the measures which it deems appropriate, and will co-operate with other participat- ing countries, to prevent, on the part of private or public commercial enterprises, business practices or business arrangements affecting international trade which restrain competition, limit access to markets or foster monopolistic control whenever such practices or arrangements have the effect of interfering with the achievement of the joint programme of European recovery. ARTICLE III 2599 Utilization of man- power. Prevention of prac- tices interfering with achievement of pro- gram. Post, p. 2607. 1. The two Governments will upon the request of either of them arantees. consult respecting projects in the United Kingdom proposed by nationals of the United States of America and with regard to which the Government of the United States of America may appropriately make guarantees of currency transfer under Section 111 (b) (3) of the Economic Co-operation Act of 1948. 2 Stat., Pt. 1, pp. m14,I0M. 2. The Government of the United Kingdom agrees that if the Gov- Pot' p- 2606 ernment of the United States of America makes payment in United States dollars to any person under such a guaranty, any pounds sterling, or credits in pounds sterling, assigned or transferred to the Govern- ment of the United States of America pursuant to that section shall be recognised as property of the Government of the United States of America. ARTICLE IV 1. The provisions of this Article shall apply only with respect to assistance which may be furnished by the Government of the United States of America on a grant basis. 2. The Government of the United Kingdom will establish a special account in the Bank of England in the name of the Government of the United Kingdom (hereinafter called the Special Account) and will make deposits in pounds sterling to this account as follows:- (a) The unencumbered balances of the deposits made by the Gov- ernment of the United Kingdom pursuant to the Exchange of Notes between the two Governments dated 30th April, 1948.P] (b) Amounts commensurate with the indicated dollar cost to the Government of the United States of America of commodities, services and technical information (including any cost of proc- essing, storing, transporting, repairing or other services incident thereto) made available to the United Kingdom on a grant ' Department of State publication 3145, p. 14. 2 Department of State Bulletin, May 16, 1948, p. 644. Local currency. Pot, p. 2608. Special account in Bank of England.

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