Page:United States Statutes at Large Volume 62 Part 2.djvu/943

 62 STAT.] FRANCE-ECONOMIC COOPERATION-JUNE 28, 1948 participating countries in furtherance of the accomplishment of the purposes of this Agreement. 3. The Government of France will take the measures which it deems appropriate, and will cooperate with other participating 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 pro- gram of European recovery. Article III (Guaranties) 1. The Governments of the United States of America and France will, upon the request of either Government, consult respecting projects in France 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 guaranties of currency transfer under Section 111 (b) (3) of the Economic Cooperation Act of 1948. 2. The Government of France agrees that if the Government of the United States of America makes payment in United States dollars to any person under such a guaranty, any francs, or credits in francs, assigned or transferred to the Government of the United States of America pursuant to that Section shall be recognized as property of the Government of the United States of America. Article IV (Local Currency) 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 France will establish a special account in the Bank of France in the name of the Credit National (hereinafter called the Special Account) and will make deposits in francs to this account as follows: a) The unencumbered balance at the close of business on the day of the signature of this Agreement in the Special Account in the Bank of France in the name of the Credit National established pursuant to the Agreement between the Government of the United States of America and the Government of France made on January 2, 1948, and any further sums which may, from time to time, be required by such agreement to be deposited in the Special Account. It is understood that subsection (e) of Section 114 of the Economic Cooperation Act of 1948 constitutes the approval and determination of the Government of the United States of America with respect to the disposition of such balance, referred to in that Agreement. 2227 Prevention of prac- tices interfering with achievement of pro- gram. Post, pp. 2235, 2236. 62 Stat., Pt. 1, p. 144. Special account in Bank of France. Ante, p. 1823 . 62 Stat., Pt. p 150.

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