Page:United States Statutes at Large Volume 62 Part 2.djvu/726

 62 STAT.] MULTILATERAL-TARIFFS AND TRADE-MAR. 24, 1948 under an analogous provision of a special exchange agreement entered into pursuant to paragraph 6 of Article XV. p.60Stat. Pt. 5, (c) A contracting party which is applying restrictions under Article XII and which on March 1, 1948 was applying import restric- p 6 34Stat., Pt. 5, tions to safeguard its balance of payments in a manner which deviated from the rules of non-discrimination set forth in Article XIII may, to p. 40 .. P5, the extent that such deviation would not have been authorized on that date by sub-paragraph (b), continue so to deviate, and may adapt such deviation to changing circumstances. (d) Any contracting party which before July 1, 1948 has signed the Protocol of Provisional Application agreed upon at Geneva on October 30, 1947 and which by such signature has provisionally ac- p 6 1 Stat., Pt- 6 , cepted the principles of paragraph 1 of Article 23 of the Draft Charter submitted to the United Nations Conference on Trade and Employ- ment by the Preparatory Committee,[ 1 ] may elect, by written notice to the CONTRACTING PARTIES before January 1, 1949, to be governed by the provisions of Annex J of this Agreement, which embodies such Po, p.2009. principles, in lieu of the provisions of sub-paragraphs (b) and (c) of this paragraph. The provisions of sub-paragraphs (b) and (c) shall not be applicable to contracting parties which have so elected to be governed by the provisions of Annex J; and conversely, the provisions of Annex J shall not be applicable to contracting parties which have not so elected. (e) The policies applied in the use of import restrictions under sub-paragraphs (b) and (c) or under Annex J in the postwar transi- tional period shall be designed to promote the maximum development of multilateral trade possible during that period and to expedite the attainment of a balance-of-payments position which will no longer require resort to the provisions of Article XII or to transitional p61Stat., Pt. 5, exchange arrangements. (f) A contracting party may deviate from the provisions of Article XIII, pursuant to sub-paragraphs (b) or (c) of this paragraph 61 e tat., Pt. 5, or pursuant to Annex J, only so long as it is availing itself of the post- o, P. p209. war transitional period arrangements under Article XIV of the Articles of Agreement of the International Monetary Fund, or of an analogous 6 stat. 1420. provision of a special exchange agreement entered into under para- graph 6 of Article XV. P1 tat., Pt. , (g) Not later than March 1, 1950 (three years after the date on which the International Monetary Fund began operations) and in each year thereafter, the CONTRACTING PARTIES shall report on any action still being taken by contracting parties under sub-paragraphs (b) and (c) of this paragraph or under Annex J. In March 1952, and in Pot' a'09. each year thereafter, any contracting party still entitled to take action under the provisions of sub-paragraph (c) or of Annex J shall consult the CONTRACTING PARTIES as to any deviations from Article XIII still in force pursuant to such provisions and as to its continued 6p.tat. Pt.5 , resort to such provisions. After March 1, 1952 any action under Annex J going beyond the maintenance in force of deviations on which 1 Department of State publication 2927, p. 24. 2007

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