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ANNEX VI Overeenkomst nopens Duitse buitenlandse schulden

[Note: The text reproduced hereunder is the text of Appendix 8 to the Report of the Conference on German External Debts.]

Agreed Recommendations for the Utilisation of Blocked Deutsche Mark Accounts

The following detailed arrangements have been agreed upon for the utilisation of blocked Deutsche Mark accounts:

(1) The foreign creditor of an “original credit account” in German currency shall be permitted to utilise it within the framework of the regulations in force in the German Federal Republic and Berlin (West) at the date on which this settlement comes into effect, including the right to assign such accounts to another person outside Germany.

(2) The foreign creditor of an “acquired credit account” in German currency shall continue to be permitted to assign his account to another person outside Germany.

The foreign creditor of such account shall continue to be permitted to utilise his account mainly for long-term investments in the German economy.

(3) The competent German authorities shall draw up and issue the regulations necessary to prevent the illegal disposal of accounts in German currency and to preclude any other abuses detrimental to the German economy and to the creditors as a whole. Utilisations permitted by a general licence at the time this settlement comes into force may, in order to ensure proper control, be made dependent upon the issue of a special licence without thereby restricting the general possibilities of utilisation.

(4) The competent German authorities will endeavour to provide facilities for the utilisation of blocked Deutsche Mark accounts to such an extent as the foreign exchange situation shall permit. They will aim at simplifying the licence procedure as much as possible.

(5) The German Government shall set up an Advisory Committee composed of an equal number of representatives of the main creditor countries, on the one hand, and of representatives of the German Federal Republic, on the other, for the discussion of general matters in connection with the utilisation of blocked Deutsche Mark accounts.

Regeling
Overeenkomst nopens Duitse buitenlandse schulden
Soort
Verdrag
Geldend vanaf
01-08-1958
BWB-id
BWBV0005325
Versie
1958-08-01_0

In de hele regeling · Officiële tekst op wetten.overheid.nl