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a. Prohibitions or restrictions on imports or exports, imposed maintained during the early post-war transitional period, which essential to (i) the equitable distribution among the several cons ing countries of products in short supply, whether such products owned by private interests or by the government of any Men country, or (ii) the orderly liquidation of temporary surpluse stocks owned or controlled by the government of any Member coun Provided, That restrictions under (ië) of this subparagraph ma imposed by any Member only after consultation with other intere Members with a view to appropriate international action. Import export prohibitions and restrictions imposed or maintained under subparagraph shall be removed as soon as the conditions giving to them have ceased to exist and, in any event, not later than Ju 1949: Provided, That this period may, in extraordinary and abno circumstances, and with the concurrence of the Organization extended in respect of any product for further periods not to ex six months each.
7. Export prohibitions or restrictions temporarily imposed to lieve conditions of distress which are local to the exporting country which are caused by severe shortages of foodstuffs or other esse products.
c. Import and export prohibitions or restrictions necessary to application of standards for the classification and grading of modities in international commerce.
d. Export or import quotas imposed under intergovernmental modity agreements concluded in accordance with the provision Chapter VI.
e. Import restrictions on any agricultural product, imported in form, necessary to the enforcement of governmental measures operate (i) to restrict the quantities of the like domestic product mitted to be marketed or produced, or (ii) to remove a temporary plus of the like domestic product by making the surplus availa certain groups of domestic consumers free of charge or at price low the current market level. Any Member imposing restrictio the importation of any product pursuant to this subparagraph give public notice of the total quantity or value of the product mitted to be imported during a specified future period and o change in such quantity or value. Moreover, any restrictions im under (i) of this subparagraph shall not be such as will redu total of imports relative to the total of domestic production, as pared with the proportion between the two prevailing during a pre representative period, account being taken in so far as practica any special factors which may have affected or may be affectin trade in the product concerned.
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Article 20. Restrictions to Restore Equilibrium in the Balance of
1. Notwithstanding the provisions of Article 19, any Member confronted with an adverse balance of international payments may, as an aid to the restoration of equilibrium therein, impose or maintain restrictions on the quantity or value of merchandise permitted to be imported. The imposition or maintenance of restrictions under this paragraph shall conform to the conditions and requirements set forth in paragraphs 2 or 3 of this Article, as the case may be.
2. Any Member which considers such action necessary to restore equilibrium in its balance of international payments shall be entitled to impose or maintain quantitative import restrictions under paragraph 1 of this Article until December 31, 1949: Provided, That any Member availing itself of the privileges of this paragraph shall consult, through the Organization, with the other Members affected with a view to assuring that the effects of such restrictions on their commercial interests are minimized to the fullest possible extent compatible with the safeguarding of the balance of payments of the Member imposing the restrictions. Any Member still maintaining such restrictions on December 31, 1949 shall complete arrangements so that no such restrictions shall remain in force on or after the expiration of six months from that date.
3. Notwithstanding the provisions of paragraph 2 of this Article, ny Member shall be entitled to impose balance-of-payments restricions, whether during or after the transitional period provided for n paragraph 2 of this Article, subject to the following conditions:
a. No Member shall impose such restrictions under this paragraph inless such action is necessary (ë) to arrest a long-continuing or large leficit in the Member's balance of payments, or (ii) in the case of a Member with very low monetary reserves, to forestall a large deficit n the Member's balance of payments. Such restrictions under (i) hall be progressively relaxed with the reduction of the deficit in the Tember's balance of payments and shall be completely removed upon he elimination of the deficit in the Member's balance of payments. Such restrictions under (ië) shall be progressively relaxed with imrovement in the Member's monetary reserves, and shall be completely emoved with the attainment by the Member of adequate monetary eserves. The deficit or surplus in a Member's balance of payments hall be understood to mean its deficit or surplus on current account, s defined in Article XIX(i) of the Articles of Agreement of the nternational Monetary Fund. A Member's monetary reserves shall
be understood to mean its reserves as defined in Article XIX ( the Articles of Agreement of the International Monetary Fund.
b. Any Member imposing new restrictions, or continuing be the transitional period restrictions imposed pursuant to paragra of this Article, shall enter into consultation with the Organiz within thirty days after the imposition of new restrictions, or the expiration of the transitional period, as the case may be. Th ganization shall seek consultation with the International Mon Fund in reviewing, in the light of the criteria set forth in (a) a the balance of payments or monetary reserves of any Member av: itself of the privileges of this paragraph.
c. Any Member which considers that any other Member is apr import restrictions under this paragraph contrary to the lett spirit of the undertakings in this Charter with respect to such re tions, or in a manner tending to impair the commercial rel between the two Members, shall be entitled to bring the matter the Organization for discussion, and the Member imposing t strictions shall undertake in these circumstances to enter int cussions with a view to a mutually satisfactory settlement matter. The Organization may determine that such restrictio not in harmony with the principles set forth in this paragrap in the event appropriate action is not taken within thirty days such determination
Member which considers that such restr have impaired its commercial relations with the Member im the restrictions shall be free, within sixty days after the date determination, to suspend on sixty days' written notice to the zation the application to the trade of such Member of any obligations or concessions under this Chapter the suspension of the Organization does not recommend against.
4. Restrictions maintained or imposed under this Article Member shall be so administered as to avoid unnecessary dislto the trade of other Members having an interest in the exporta particular products. To this end the Member maintaining or ing such restrictions shall apply them to all important produ manner as nearly uniform as practicable and shall in no even them in such a manner as would prevent the continuous imp in minimum commercial quantities of any product (@)if of the product are supplied principally or in important part cther Member or Members, or () if imports of the proč important to the maintenance of the economy of any other engaged in exporting the product to the Member maintai imposing such restrictions.
Article 21. Nondiscriminatory Administration of Quantitative
1. No prohibition or restriction shall be imposed by any Member ursuant to this Section on the importation of any product of any cher Member country, or on the exportation of any product destined or any other Member country, unless the importation of the like coduct of all third countries, or the exportation of the like product all third countries, respectively, is similarly prohibited or restricted. I order to facilitate observation of the operation of the provisions of is paragraph in so far as they relate to import restrictions, Members dertake that in the application of such restrictions they will emoy the use of quotas, and will avoid the use of licensing or other n-quota methods of restriction, to the fullest practicable extent. 2. In the case of import restrictions imposed in the form of otas, the Member imposing such restrictions shall give public tice of the total quantity or value of the product or products rmitted to be imported during a specified future period, and of any ange in such quantity or value. If any Member imposing such otas allots a share of the total quantity or value to any other coun, it shall allot to the other Member countries having an important erest in the trade in the product with respect to which an allotment ; been made, shares based upon the proportions of the total quan7 or value supplied by such Member countries during a previous resentative period, account being taken in so far as practicable of special factors which may have affected or which may be affecting trade in that product. No conditions or formalities shall be posed which would prevent any Member country from fully utilg the share of any such total quantity or value which has been tted to it. The provisions of this paragraph shall also apply to tariff quota established or maintained by any Member.
In the case of import restrictions for which quota determinations e not been made, the Member imposing the restrictions shall vide, upon the request of any other Member having an interest he trade in the product concerned, all relevant information as to administration of the restriction, including information as to the ort licenses granted over a past recent period and the distribution ich licenses. Restrictions under this paragraph shall in no event pplied by sources of supply and no import license or permit util
in connection with such restrictions shall require or provide that license or permit be utilized for the importation of the product erned from a particular country.
4. With regard to restrictions imposed in accordance with pa graph 2 of this Article or under paragraph 2(e) of Article 19, selection of a representative period for any product and the apprai of any special factors affecting the trade in the product shall be m initially by the Member imposing the restriction: Provided, T such Member shall, upon the request of any other Member having important interest in the trade in that product, or upon the reqı of the Organization, consult promptly with the other Member with the Organization regarding the need for an adjustment of base period selected or for the reappraisal of the special fac involved
Article 22. Exceptions From Rule of Nondiscrimination
Members which are members of the International Monetary F shall not be precluded by this Section from applying quantita import restrictions (a) having equivalent effect to any exchange strictions which the Member is authorized to impose in confor with Article VII of the Articles of Agreement of the Internati Monetary Fund, or (6) essential to the maintenance, under Ar XX, Section 4(g) of that Agreement, of the common par value o: currencies of territories having a common quota in the Fund.
-2. The provisions of paragraphs 1, 2 and 3 of Article 21 shal apply (0) in cases in which their application would have the of preventing the Member imposing the restrictions referred those paragraphs from utilizing, for the purchase of needed im inconvertible currencies accumulated up to December 31, 1948 are inconvertible at the time of their use, or (b) to prohibitio restrictions imposed under subparagraphs 2(a)(i) or 2(d. Article 19.
SECTION D. EXCHANGE CONTROL
Article 23. Elimination of Exchange Restrictions in Relation
Current Commodity Transactions 1. In order to avoid the imposition of trade restrictions an criminations through exchange techniques, the Members agre they will impose no restrictions on the making of payments and fers for such current international transactions as consist of pay due in connection with the importation of any product: Pro That this obligation shall not prevent any Member from im such restrictions on transactions with non-Members unless t ganization finds that such restrictions prejudice the interests o Members.