Page:United States Statutes at Large Volume 62 Part 2.djvu/783

 62 STAT.] MULTILATERAL-GERMAN PROPERTY IN SPAIN-MAY 10, 1948 tas. The Spanish Government shall have free disposition of the amounts so deducted, and the remainder shall be distributed among the beneficiary Powers in the proportions determined by common agreement between the Powers signatory to this Accord. It is under- stood that the amounts so distributed shall not in any manner be trans- ferred abroad or used for investment in Spain without the special agreement of the Spanish Government ARTICLE XII The Allied Powers signatory to this Accord, in the name of the Government of Germany, hereby cede to the Spanish Government all rights, titles and interests possessed or exercisable by or in the name of the German Government or its agencies over the properties in Spain belonging to the institutions referred to in the Notes addressed on this date to the Spanish Government, as provided in Article One of the Decree Law of April 23, 1948. The Spanish Government undertakes that said properties shall in no way revert to their previous owners nor be employed for their former purposes. The Spanish Government hereby declares that the sums arising from the liquidation of the properties, rights, titles and interests hereby ceded to it are destined as cover for the expenses which it shall have incurred in the execution of the legal dispositions referred to in this Accord or related thereto. It is mutually agreed that as from the date of this Accord, the Spanish Government takes the place of the Government of Germany in all rights and liabilities related to the properties referred to in the present article. ARTICLE XIII The fulfillment of this Accord is accepted by both Parties as the total liquidation of all classes of claims and trade or payments balances between Spain and Germany respectively. The foregoing provision does not affect either the right of any natural or juridical person of Spanish nationality to property in Ger- many or to indemnities or sums to which he may be entitled under German law, or claims or rights of the Spanish State in relation to its official property in Germany. On the other hand, future trade and payments balances between Spain and Germany shall be adjusted to such agreements or disposi- tions as may become applicable. ARTICLE XIV As of the date of this Accord, the special measures adopted by the Spanish Government for the blocking of the property of certain foreigners shall cease to be applied insofar as they do not refer to the assets which are the object of this Accord, and in accordance with the dispositions which may be issued for that purpose by the Spanish Administration. 2065 Distribution of amounts; restrictions. Cession to Spanish Government of rights, titles, etc., to desig- nated property. Liquidation of claims, etc. Poit, p. a086. Cessation ofappliea- bility of measures for blocking property.

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