Page:United States Statutes at Large Volume 63 Part 2.djvu/876

 MULTILATERAL-WHEAT-MAR. 23, 1949 reference is made in this Agreement to a transaction between an exporting country and an importing country, it shall be understood to refer not only to transactions between the government of an exporting country and the government of an importing country but also to transactions between private traders and to transactions between a private trader and the government of an exporting or an importing country. In this definition "government" shall be deemed to include the government of any territory in respect of which the rights and obligations of any Government accepting or acceding to this Agreement apply under Article XXIII. Po ,p. 2196 . "Unfulfilled guaranteed quantity" means the difference between the quantities entered in the Council's records in accordance with Article IV in respect of any exporting or importing country for a crop-year and P. t ' P 2178- that country's guaranteed quantity for that crop-year. "Wheat" includes wheat grain and, except in Article VI, wheat- Po, p.2182. flour. 2. Seventy-two units by weight of wheat-flour shall be deemed to be equivalent to one hundred units by weight of wheat grain in all calculations relating to guaranteed purchases or guaranteed sales, unless the Council decides otherwise. PART 2-RIGHTS AND OBLIGATIONS ARTICLE III Guaranteed Purchases and Guaranteed Sales 1. The quantities of wheat set out in Annex A to this Article for Pot,. 217. each importing country represent, subject to any increase or reduction made in accordance with the provisions of Part 3 of this Agreement, Pos p. 2188. the guaranteed purchases of that country for each of the four crop- years covered by this Agreement. 2. The quantities of wheat set out in Annex B to this Article for P, p.2178. each exporting country represent, subject to any increase or reduction made in accordance with the provisions of Part 3 of this Agreement, the guaranteed sales of that country for each of the four crop-years covered by this Agreement. 3. The guaranteed purchases of an importing country represent the maximum quantity of wheat which, subject to deduction of the amount of the transactions entered in the Council's records in ac- cordance with Article IV against those guaranteed purchases, (a) that importing country may be required by the Council, as provided in Article V, to purchase from the exporting countries at prices consistent with the minimum prices specified in or determined under Article VI, or (b) the exporting countries may be required by the Council, as provided in Article V, to sell to that importing country at prices consistent with the maximum prices specified in or determined under Article VI. 63 STAT.] 2175

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