Page:United States Statutes at Large Volume 62 Part 3.djvu/399

 3008 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. F. 1. Subject to the application of the existing French ex- change regulations: Purchase of long-term securities issued by the State or public bodies; Purchase of French industrial securities, except securi- ties connected with the cinematographic industry, unless special per- mission has been granted by the Centre National de la Cinematogra- phie; Investment in French industrial or commercial enter- prises, except those connected with cinematographic industries, unless special permission has been granted by the Centre National de la Cinematographie; Purchase, construction, renovation, leasing of developed or undeveloped real estate, except that purchase, leasing and building of theaters and laboratories, as well as the purchase and leasing of studios is excluded. However, construction of new studios will be authorized. 2. Income accruing from investments authorized in para- graph 1 above will be transferable to the United States. 3. In cases of eventual transfer, the capital invested will be subject to the general provisions of French exchange regulations. 4. The interested parties will be entitled, after having invested their franc assets in one of the categories mentioned in para- graph 1 above, to liquidate these investments and to reinvest the pro- ceeds in one of the other categories. This new investment will be subject to the same regulations which governed the original one. G. Purchase of goods and materials for export where such export is deemed by the French Government to be beneficial to the French economy. H. Contributions to charities designed for French relief. I. Any other purpose specifically authorized by the Office des Changes. VIII. Balances remaining in franc accounts will be freely trans- ferable between France and North Africa.

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