Page:United States Statutes at Large Volume 62 Part 3.djvu/398

 62 STAT.] FRANCE-AMERICAN MOTION PICTURE FILMS-SEPT. 16, 1948 V. The division of the quarterly payments on the amount accrued to the companies during the period ending June 30, 1947, will be effected on the basis of the allocation previously approved by the French Government. The division of the quarterly payments on amounts accruing to the companies during the period after July 1, 1947, will be made on the basis of the gross billings accruing to dis- tributors of American films, as determined by a certified public accountant acceptable to the French Government and to the motion picture companies. Nevertheless, no individual company may trans- fer, either from receipts accrued before June 30, 1947, or accruing since July 1, 1947, more than the franc countervalue, as defined in Section IV above, of the funds it has on hand on the date the transfer takes place and provided those funds are recognized by the Office des Changes as transferable. VI. The amounts in francs received by the companies during the period ending June 30, 1952, which have not been transferred under Sections I, II, III, IV and V above may be utilized as specified in Section VII. VII. Upon application to the Office des Changes, companies will be permitted to use balances remaining in franc accounts for the following purposes within the franc zone: A. Payment of transportation and other official expenses and salaries of employees of the companies, their affiliated production companies, companies or agents distributing their films, and the Motion Picture Association of America, who may be resident or visit- ing in the French Union. B. Payment of any expense incurred incident to preparation of the companies' films for distribution wherever French language films are normally shown-such as expenses of dubbing, translating, sub- titling, printing, advertising, and the purchase of any materials necessary for use in these operations. C. Expenses incident to co-production in France of motion pictures, when approval has been first obtained from the Centre National de la Cinematographie; approval will not be unreasonably withheld. Revenue accruing from Franco-American co-production will be divided between the French partner and the United States partner on a percentage basis identical to that approved for the financ- ing. Revenue accruing to the United States company outside the French Union will not be returnable to the account of the United States company in France, but will be freely disposable abroad by the United States company. D. Purchase of any right to books, plays, and other literary or musical properties, and purchase of cinematographic patents, pro- vided that any subsequent royalties due to the seller will be paid in the currency of the nation in which the royalties accrue. E. Purchase of rights to motion pictures produced in France for distribution or sale throughout the world, excepting the franc zone, subject to the approval of the Centre National and the Office des Changes. Salaries, etc., of em- ployees. 3007 Use of balances.

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