« PreviousContinue »
guaranteed quantities of those countries for such period and in such detail and by one or (c) If within fourteen days of the notificaa crop-year:
both of those countries as the Council shall tion by the Secretary of the Council under (a) provided that (i) it is at a price not lay down in its rules of procedure.
subparagraph (b) the whole of the unfulhigher than the maximum nor lower than
(b) Any transaction or part of a transac filled guaranteed quantity of the importing the minimum specified in or determined
tion reported in accordance with the provi- country concerned, or such part thereof as under Article VI for that crop-year, and (ii)
sions of subparagraph (a) shall be entered in the opinion of the Council is reasonable the exporting country and the importing in the Council's records against the guaran-at the time the request is made, has not country have not agreed that it shall not be
teed quantities of the exporting country and been offered for sale, the Council shall, as entered against their guaranteed quantities;
the importing country between which the soon as possible, decide: and transaction is made.
(i) the quantities (b) to the extent that (1) both the export
(C) The order in which transactions and and also, if requested, ing and the importing country concerned
parts of transactions shall be entered in the (ii) the quality and grade have unfulfilled guaranteed quantities for
Council's records against the guaranteed that crop-year, and (ii) the loading period
of wheat grain and/or wheat-flour which specified in the transaction falls within quantities shall be prescribed by the Council
each or any of the exporting countries is rein its rules of procedure. that crop-year.
quired to offer to sell to that importing coun3. A transaction or part of a transaction
(d) The Council shall, within a time to
try for loading during the relevant crop-year for the purchase and sale of wheat shall be be prescribed in its rules of procedure, notify
or within such time thereafter, not exceedeligible for entry in the Council's records
each exporting country and each importing ing one month, as the Council may decide. against the guaranteed quantities of the country of the entry of any transaction or
The Council shall decide on (i) and (ii) exporting and importing countries conpart of a transaction in the Council's records
above after receiving an assurance, if recerned on the conditions specified in this against their guaranteed quantities.
quested, that the wheat grain or wheat-flour Article, notwithstanding that the transac
(e) If, within a period which the Council is to be used for consumption in the importtion has been entered into before the de
shall prescribe in its rules of procedure, the ing country or for normal or traditional posit of its instrument of acceptance of this importing country or the exporting country
importing country or the exporting country trade; and in reaching its decision the Coun. Agreement by either or both of those coun
concerned objects in any respect to the entry cil shall also take into account any circumtries.
of a transaction or part of a transaction in stances which the exporting and the import4. If a commercial contract or govern
the Council's records against its guaranteed ing countries may submit, including in relamental agreement on the sale and purchase
quantity, the Council shall review the matter tion to the proportion of wheat-flour. of wheat-flour contains a statement, or if
and, if it decides that the objection is well (iii) and the industrial programs of any
. country the exporting country and the importing founded, shall amend its records accordingly. country concerned inform the Council that
(f) If any exporting or importing country (iv) and the normal traditional volume they are agreed, that the price of such wheat considers it probable that the full amount and ratio of imports of wheat-flour and flour is consistent with the prices specified of wheat already entered in the Council's wheat grain and the quality and grade of
wheat-flour and wheat grain imported by in or determined under Article VI, the wheat records against its guaranteed quantity for grain equivalent of such wheat-flour shall, the current crop-year will not be loaded the importing country concerned. subject to the conditions prescribed in (a) within that crop-year, that country may
(d) Each exporting country required by (ii) and (b) of paragraph 2 of this Article, be request the Council to make appropriate re-, the Council's decision under subparagraph entered in the Council's records against the ductions in the amounts entered in its rec
(c) to offer quantities of wheat grain and/or ords. The Council shall consider the matter guaranteed quantities of those countries. If
wheat-flour for sale to the importing country the commercial contract or governmental
and, if it decides that the request is justified, shall, within thirty days from the date of agreement does not contain a statement of shall amend its records accordingly.
that decision, offer to sell those quantities to the nature referred to above and the export (g) Any wheat purchased by an import
such importing country for loading during ing country and the importing country con
the period provided under subparagraph (c) ing country from an exporting country and cerned do not agree that the price of the resold to another importing country may,
at prices consistent with the maximum prices wheat-flour is consistent with the prices by agreement of the importing countries con
specified in or determined under Article VI specified in or determined under Article VI, cerned, be entered against the unfulfilled
and, unless those countries agree otherwise, either of those countries may, unless they guaranteed purchases of the importing coun
on the same conditions regarding the curhave agreed that the wheat grain equivalent try to which the wheat is finally resold, pro
rency, in which payment is to be made as of that wheat-flour shall not be entered in vided that a corresponding reduction is made
prevail generally between them at that time. the Council's records against their guaran in the amount entered against the guaran
If no trade relations have hitherto existed teed quantities, request the Council to de teed purchases of
of the first importing between the exporting country and the imcide the issue. Should the Council, on con country.
porting country concerned and if those sideration of such a request, decide that the
countries fail to agree on the currency in
(h) The Council shall send to all exportprice of such wheat-flour is consistent with
which payment is to be made, the Council ing and importing countries, weekly or at
shall decide the issue. the prices specified in or determined under such other interval as the Council may preArticle VI, the wheat grain equivalent of the
(e) In case of disagreement between an scribe in its rules of procedure, a statement wheat-flour shall be entered against the of the amounts entered in its records against try on the quantity of wheat-flour to be
exporting country and an importing counguaranteed quantities of the exporting and guaranteed quantities.
included in a particular transaction being importing countries concerned, subject to (i) The Council shall notify all exporting negotiated in compliance with the Council's the conditions prescribed in (b) of para and importing countries immediately when graph 2 of this Article. Should the Council,
decision under subparagraph (c), or on the the guaranteed quantity of any exporting or on consideration of such a request, decide
relation of the price of such wheat-flour to importing country for any crop-year has been that the price of such wheat-flour is incon
the maximum prices of wheat grain specified fulfilled.
in or determined under Article VI, or on the sistent with the prices specified in or deter
7. Each exporting country and each im conditions on which the wheat grain and/or mined under Article VI, the wheat grain
porting country may be permitted, in the wheat-flour shall be bought and sold, the equivalent of the wheat-flour shall not be so
fulfillment of its guaranteed quantity, a de matter shall be referred to the Council for entered.
gree of tolerance to be prescribed by the decision. 5. Provided that the conditions prescribed
Council for that country on the basis of 2. (a) Any exporting country which finds in paragraphs 2 or 4 of this Article, other
its guaranteed quantity and other relevant difficulty in selling its unfilled guaranteed than that in (b) (ii) of paragraph 2, are factors.
quantity for any crop-year at prices consatisfied, the Council may authorize transactions to be recorded against guaranteed
sistent with the minimum prices specified Article V-Enforcement of rights
in or determined under Article VI may requantities for a crop-year if (a) the loading 1. (a) Any importing country which finds
quest the council's help in making the deperiod specified in the transaction is within difficulty in purchasing its unfulfilled guar
sired sales. a reasonable time up to one month, to be anteed quantity for any crop-year at prices decided by the Council, before the beginning
(b) Within three days of the receipt of a consistent with the maximum prices speci
request under subparagraph (a) the Secreor after the end of that crop-year, and (b) fied in or determined under Article VI may
tary of the Council shall notify those imthe exporting and importing country con
request the Council's help in making the cerned so agree.
porting countries which have unfulfilled desired purchases.
guaranteed quantities for the relevant crop6. The Council shall prescribe rules of pro
(b) Within three days of the receipt of a
year of the amount of the unfulfilled guarcedure, in accordance with the following pro request under subparagraph (a) the Secre
anteed quantity of the exporting country visions, for the reporting and recording of tary of the Council shall notify those ex
which has requested the Council's help and transactions which are part of the guaranteed porting countries which have unfulfilled
invite them to offer to purchase wheat at quantities: guaranteed quantities for the relevant crop
prices consistent with the minimum prices (a) Any transaction or part of a transyear of the amount of the unfulfilled guar
specified in or determined under Article VI. action, between an exporting country and anteed quantity of the importing country
(c) If within fourteen days of the notian importing country, qualifying under parawhich has requested the Council's help and
fication by the Secretary of the Council graph 2, 3, or 4 of this Article to form part invite them to offer to sell wheat at prices under subparagraph (b) the whole of the of the guaranteed quantities of those coun consistent with the maximum prices specified unfulfilled guaranteed quantity of the extries shall be reported to the Council within in or determined under Article VI.
porting country concerned, or such part
thereof as in the opinion of the Council is in store Fort William/Port Arthur specified and maximum price equivalents for wheat at reasonable at the time the request is made, in paragraph 1 of this Article;
points other than those specified above and has not been purchased, the Council shall, (b) No. 1 Manitoba Northern wheat f. o. b. may also designate any description of wheat as soon as possible decide:
Port Churchill, Manitoba, shall be the price other than those specified in paragraphs 2 (i) the quantities
equivalent to the c. & f. price in the country and 3 above and determine the minimum and also, if requested,
of destination of the maximum price for No. and maximum price equivalents thereof; (ii) the quality and grade
1 Manitoba Northern wheat in bulk in store provided that, in the case of any other de
Fort William/Port Arthur specified in para scription of wheat the price equivalent of of wheat grain and/or wheat-flour which
graph 1 of this Article, computed by using which has not yet been determined, the each or any of the importing countries is
minimum and maximum prices for the time required to offer to purchase from that ex- currently prevailing transportation costs and exchange rates;
being shall be derived from the minimum porting country for loading during the rele
(c) f. a. q. wheat in store Australian ocean and maximum prices of the description of vant crop-year or within such time there.
ports shall be the maximum price for No. 1 wheat specified in this Article, or subseafter, not exceeding one month, as the Coun
Manitoba Northern wheat in bulk in store quently designated by the Executive Comcil may decide.
Fort William/Port Arthur specified in para mittee in consultation with the Advisory In reaching its decision on (i) and (ii)
graph 1 of this Article, converted into Aus Committee on Price Equivalents, which is above, the Council shall take into account
tralian currency at the prevailing rate of most closely comparable to such other deany circumstances which the exporting and exchange;
scription, by the addition of an appropriate the importing countries may submit, in
(d) sample wheat of France (minimum premium or by the deduction of an approcluding in relation to the proportion of
natural weight seventy-six kilograms per priate discount. wheat-flour:
hectolitre; minimum protein content ten (iii) the industrial programs of any coun
5. If any exporting or importing country per cent; maximum dockage and moisture represents to the Executive Committee that try
content two per cent and fifteen per cent any price equivalent established under paraand
respectively) in store French ports shall be graph 2, 3, or 4 of this Article is, in the light (iv) the normal traditional volume and
the maximum price for No. 1 Manitoba of current transportation or exchange rates ratio of imports of wheat-flour and wheat Northern wheat in bulk in store Fort Wil or market premiums or discounts, no longer grain and the quality and grade of wheat
liam/Port Arthur specified in paragraph 1 of fair, the Executive Committee shall consider flour and wheat grain imported by the im
this Article, converted into the currency of the matter and may, in consultation with porting countries concerned.
France at the prevailing rate of exchange; the Advisory Committee on Price Equiva(d) Each importing country required by (e) No. 1 Hard Winter wheat f. o. b. lents, make such adjustment as it considers the Council's decision under subparagraph Gulf/Atlantic ports of the United States of desirable. (c) to offer to purchase quantities of wheat America shall be the price equivalent to the
6. If a dispute arises as to what premium grain and/or wheat-flour from the exporting c. & f. price in the country of destination
or discount is appropriate for the purposes of country shall, within thirty days from the of the maximum price for No. 1 Manitoba
paragraphs 4 and 5 of this Article in respect date of that decision, offer to purchase those Northern wheat in bulk in store Fort Wil
of any description of wheat specified in paraquantities from such exporting country for liam/Port Arthur specified in paragraph 1
graph 2 or 3 or designated under paragraph loading during the period provided under of this Article, computed by using currently
4 of this Article, the Executive Committee subparagraph (c) at prices consistent with
prevailing transportation costs and exchange the minimum prices specified in or deter
in consultation with the Advisory Commitrates and by making such allowance for
tee on Price Equivalents, shall on the request mined under Article VI and, unless those difference in quality as may be agreed becountries agree otherwise, on the same con tween the exporting country and the im
of the exporting or importing country con
cerned decide the issue. ditions regarding the currency in which porting country concerned; and
7. All decisions of the Executive Commitpayment is to be made as prevail generally (f) No. 1 Soft White wheat or No. 1 Hard between them at that time. If no trade Winter wheat in store Pacific ports of the
tee under paragraphs 4, 5, and 6 of this relations have hitherto existed between the United States of America shall be the maxi
Article shall be binding on all exporting and exporting country and the importing coun mum price for No. 1 Manitoba Northern
importing countries, provided that any of
those countries which considers that any try concerned and if those countries fail to wheat in bulk in store Fort William/Port agree on the currency in which payment is Arthur specified in paragraph 1 of this Ar
such decision is disadvantageous to it may to be made, the Council shall decide the ticle, computed by using the prevailing rate
ask the Council to review that decision. issue. of exchange and by making such allowance
8. In order to encourage and expedite the (e) In case of disagreement between an for difference in quality as may be agreed
conclusion of transactions in wheat between exporting country and an importing coun between the exporting country and the im
them at prices mutually acceptable in the try on the quantity of wheat-flour to be in porting country concerned.
light of all the circumstances, the exporting cluded in a particular transaction being 3. The equivalent minimum price for bulk
and importing countries, while reserving to negotiated in compliance with the Coun wheat for:
themselves complete liberty of action in the cil's decision under subparagraph (c), or on (a) No. 1 Manitoba Northern wheat f. o. b.
determination and administration of their the relation of the price of such wheat-flour Vancouver,
internal agricultural and price policies, shall to the minimum prices of wheat grain speci (b) No. 1 Manitoba Northern wheat f. o. b.
endeavor not to operate those policies in fied in or determined under Article VI, or on Port Churchill, Manitoba,
such a way as to impede the free movement the conditions on which the wheat grain (c) f. a. q. wheat f. o. b. Australia,
of prices between the maximum price and and/or wheat-flour shall be bought and
(d) sample wheat of France (minimum
the minimum price in respect of transacsold, the matter shall be referred to the natural weight seventy-six kilograms per
tions in wheat into which the exporting Council for decision. hectolitre; minimum protein content ten
and importing countries are prepared to en3. For the purposes of this Article Port
ter. Should any exporting or importing per cent; maximum dockage and moisture Churchill shall not be a port of shipment.
country consider that it is suffering hardcontent two per cent and fifteen per cent Article VI-Prices
ship as the result of such policies, it may respectively) i. o. b. French ports,
draw the attention of the Council to the 1. (a) The basic minimum and maximum
(e) No. 1 Hard Winter wheat f. o. b. Gulf/
matter and the Council shall inquire into prices for the duration of this Agreement Atlantic ports of the United States
and make a report on the complaint. shall be:
Winter wheat f. o. b. Pacific ports of the 1. In order to assure supplies of wheat to Maximum
importing countries, each exporting country Canadian currency per bushel at the parity shall be respectively:
shall endeavor to maintain stocks of old for the Canadian dollar, determined for the the f. o. b. prices Vancouver, Port Churchill, crop wheat at the end of its crop-year at a purposes of the International Monetary Australia, France, United States of America
level adequate to ensure that it will fulfill Fund as at March 1, 1949 for No. 1 Manitoba Gulf/Atlantic ports and the United States
its guaranteed sales under this Agreement Northern wheat in bulk in store Fort Wil of America Pacific ports equivalent to the
in each subsequent crop-year. liam/Port Arthur. The basic minimum' and c. & f. prices in the United Kingdom of Great
2. In the event of a short crop being harmaximum prices, and the equivalents there Britain and Northern Ireland of the mini
vested by an exporting country, particular of hereafter referred to, shall exclude such . mum prices for No. 1 Manitoba Northern
consideration shall be given by the Council carrying charges and marketing costs as may wheat in bulk in store Fort William/Port to the efforts made by that exporting counbe agreed between the buyer and the seller. Arthur specified in paragraph 1 of this Ar
try to maintain adequate stocks as required (b) Carrying charges as agreed between
ticle, computed by using currently prevailing by paragraph 1 of this Article before that the buyer and seller may accrue for the transportation costs and exchange rates and,
country is relieved of any of its obligations buyer's account only after an agreed date in those importing countries where a quality under Article X. specified in the contract under which the differential is recognized, by making such
3. In order to avoid disproportionate purwheat is sold.
allowance for difference in quality as may be chases of wheat at the beginning and end 2. The equivalent maximum prices for agreed between the exporting country and of a crop-year, which might prejudice the bulk wheat for: the importing country concerned.
stabilization of prices under this Agreement (a) No. 1 Manitoba Northern wheat in 4. The Executive Committee may, in con and render difficult the fulfillment of the store Vancouver shall be the maximum price sultation with the Advisory Committee on obligations of all exporting and importing for No. 1 Manitoba Northern wheat in bulk Price Equivalents, determine the minimum countries, importing countries shall
deavor to maintain adequate stocks at all it is an importing country, make purchases 3. The guaranteed quantity of any countimes.
to meet its obligations under this Agreement, try acceding under Article of this Agree4. In the event of an appeal by an import 5. The Council shall decide whether the ment shall be offset by appropriate adjusting country under Article XII, particular reporting country's representations are well ments by way of increase or decrease of the consideration shall be given by the Council founded. If it finds they are well founded, guaranteed quantities of one or more other to the efforts made by that importing coun it shall decide to what extent and on what countries in Annexes A and B to Article III. try to maintain adequate stocks as required conditions the reporting country shall be re Such adjustments shall not be approved unby paragraph 3 of this Article before it de lieved of its guaranteed quantity for the less each exporting or importing country cides in favor of such an appeal.
crop-year concerned. The Council shall in whose guaranteed quantity is thereby Article VIII–Information to be supplied to
form the reporting country of its decision. changed has consented.
6. If the Councii decides that the reporting Article XII–Additional purchases in case of the Council
country shall be relieved of the whole or part The exporting and importing countries
critical need of its guaranteed quantity for the crop-year shall report to the Council, within the time concerned, the following procedure shall
In order to meet a critical need which has prescribed by it, such information as the apply:
arisen or threatens to arise in its territory, Council may request in connection with the
(a) The Council shall, if the reporting and importing country may appeal to the administration of this Agreement.
country is an importing country, invite the Council for assistance in obtaining supplies PART 3-ADJUSTMENT OF GUARANTEED other importing countries, or, if the reports of wheat in addition to its guaranteed purQUANTITIES
chases. On consideration of such an appeal ing country is an exporting country, invite Article Ix-Adjustments in case of nonpar
the other exporting countries, to increase the Council may reduce pro rata the guar
their guaranteed quantities for the crop-year ticipation or withdrawal of countries
anteed quantities of the other importing concerned up to the amount of the guaran
countries in order to provide the quantity 1. In the event of any difference occurring teed quantity of which the reporting country of wheat which it determines to be necesbetween the total of the guaranteed pur is relieved. Any increase in guaranteed sary to relieve the emergency created by the chases in Annex A to Article III and the quantities under this subparagraph shall re
critical need, provided that it considers that total of the guaranteed sales in Annex B to quire the approval of the Councii.
such emergency cannot be met in any other Article III as a result of any country listed
(b) If the amount of which the reporting manner. Two-thirds of the votes cast by in Annex A or Annex B (a) not signing or
country is relieved cannot be fully offset in the exporting countries and two-thirds of (b) not depositing an instrument of accept
the manner provided in (a) of this para- the votes cast by the importing countries ance of or (C) withdrawing under paragraph graph, the Council shall invite the exporting shall be required for any reduction of guar. 5, 6, or 7 of Article XXII from or (d) being countries, if the reporting country is an im- anteed purchases under this paragraph. expelled under Article XIX from or (e) beporting country, or the importing countries,
PART 4-ADMINISTRATION ing found by the Council under Article XIX
if the reporting country is an exporting counto be in default of the whole or part of its
Article XIII–The Council try, to accept a reduction of their guaranteed guaranteed quantity under this Agreement, quantities for the crop-year concerned up to
A. Constitution the Council shall, without prejudice to the
the amount of the guaranteed quantity of 1. The International Wheat Council, esright of any country to withdraw from this
which the reporting country is relieved after tablished by the International Wheat AgreeAgreement under paragraph 6 of Article
taking account of any adjustments made ment which was opened for signature in XXII, adjust the remaining guaranteed under (a) of this paragraph.
Washington on March 23, 1949, shall conquantities so as to make the total in the one
(c) If the total offers received by the Coun- tinue in being for the purpose of adminisAnnex equal to the total in the other Annex.
cil from the exporting and importing coun- tering the present Agreement. 2. The adjustment under this Article shall, tries to increase their guaranteed quantities 2. Each exporting country and each imunless the Council decides otherwise by two
under (a) of this paragraph or to reduce porting country shall be a voting member thirds of the votes cast by the exporting their guaranteed quantities under (b) of this of the Council and may be represented at countries, and two-thirds of the votes cast
paragraph exceed the amount of the guar its meetings by one delegate, alternates, and by the importing countries, be made by re
anteed quantity of which the reporting coun advisers. ducing pro rata the guaranteed quantities try is relieved, their guaranteed quantities 3. Such intergovernmental organizations in Annex A or Annex B, as the case may be, shall, unless the Council decides otherwise, as the Council may decide to invite may by the amount necessary to make the total
be increased or reduced, as the case may be, each have one non-voting representative in in the one Annex equal to the total in the
on a pro rata basis, provided that the in- attendance at meetings of the Council. other Annex.
crease or reduction of the guaranteed quan 4. The Council shall elect for each crop3. In making adjustments under this Artity of any such country shall not exceed its
year a Chairman and a Vice Chairman, ticle, the Council shall keep in mind the
offer. general desirability of maintaining the total
B. Powers and Functions (d) If the amount of the guaranteed guaranteed purchases and the total guaran quantity of which the reporting country is
5. The Council shall establish its rules of teed sales at the highest possible level. relieved cannot be fully offset in the man
procedure. Article X-Adjustment in case of short crop ner provided in (a) and (b) of this para
6. The Council shall keep such records as or necessity to safeguard balance of pay- graph, the Council shall reduce the guaran are required by the terms of this Agreement ments or monetary reserves
teed quantities in Annex A to Article III, if and may keep such other records as it con1. Any exporting or importing country try, or in Annex B to Article III, if the re
siders desirable. the reporting country is an exporting coun
7. The Council shall publish an annual which fears that it may be prevented, by a short crop in the case of an exporting coun
porting country is an importing country, for report and may publish any other informatry or the necessity to safeguard its balance
the crop-year concerned by the amount tion concerning matters within the scope of of payments or monetary reserves in the case
necessary to make the total in the one An this Agreement. of an importing country, from carrying out
nex equal to the total in the other Annex. 8. The Council shall have such other powits obligations under this Agreement in re
Unless the exporting countries in the case ers and perform such other functions as spect of a particular crop-year shall report of a reduction in Annex B, or the importing it may deem necessary to carry out the terms the matter to the Council at the earliest pos
countries in the case of a reduction in An of this Agreement. sible date and apply to the Council to be
nex A, agree otherwise, the reduction shall 9. The Council may, by two-thirds of the relieved of the whole or a part of its obliga
be made on a pro rata basis, account being votes cast by the exporting countries and tions for that crop-year.
taken of any reduction already made under two-thirds of the votes cast by the importmade to the Council pursuant to this para(b) of this paragraph.
ing countries, delegate the exercise of any graph shall be heard without delay.
Article XI-Adjustments of guaranteed of its powers or functions. The Council 2. If the matter relates to a short crop, the
quantities by consent
may at any time revoke such delegation by Council shall, in dealing with the request
a majority of the votes cast. Any decision
1. The Council, when requested to do so for relief, review the reporting country's by the exporting and importing countries
made under any powers or functions delesupply situation.
gated by the Council in accordance with whose guaranteed quantities would thereby 3. If the matter relates to balance of pay- be changed, may approve increases in the
this paragraph, shall be subject to review ments or monetary reserves, the Council shall guaranteed quantities in one Annex to Ar
by the Council at the request of any exseek and take into account, together with
porting or importing country made within ticle III for the remaining period of the all facts which it considers relevant, the opin- Agreement together with equivalent in
a period which the Council shall prescribe. ion of the International Monetary Fund, as
Any decision, in respect of which no request creases in the guaranteed quantities in the far as the matter concerns a country which
for review has been made within the preother Annex for that period. is a member of the Fund, on the existence
scribed period, shall be binding on all ex
2. An exporting country may transfer part porting and importing countries. and extent of the necessity referred to in of its guaranteed quantity to another exparagraph 1 of this Article. porting country and an importing country
C. Voting 4. The Council shall, in dealing with a may transfer part of its guaranteed quantity 10. (a) Subject to the provisions of subrequest for relief under this Article, adhere to another importing country for one or more paragraphs (b) and (c) of this paragraph, to the principle that the country concerned crop years, subject to approval by the Coun the importing countries shall hold 1,000 will to the maximum extent feasible, if it cil by a majority of the votes cast by the votes, which shall be distributed among is an exporting country, make sales to meet exporting countries and a majority of the them in the proportions which their respecits obligations under this Agreement and, if votes cast by the importing countries. tive guaranteed purchases for the current
crop-year bear to the total of the guaran. Article XIV-Executive Committee its budget for the period ending July 31, 1954, teed purchases for that crop year. The ex
1. The Council shall establish an Executive and assess the contribution to be paid by porting countries shall also hold 1,000 votes,
Committee. The members of the Executive each exporting and importing country. which shall be distributed among them in Committee shall be three exporting countries
3. The Council shall, at its first Session the proportion which their respective guarelected annually by the exporting countries
during the second half of each crop-year, anteed sales for the current crop-year bear
and not more than eight importing countries approve its budget for the following cropto the total of the guaranteed sales for that
elected annually by the importing countries. year and assess the contribution to be paid crop-year. The Council shall appoint the Chairman of
by each exporting and importing country for (b) If at any Session of the Council an the Executive Committee and may appoint a
that crop-year. importing country or an exporting country
4. The initial contribution of any exportVice Chairman. is not represented by an accredited delegate
2. The Executive Committee shall be re
ing or importing country acceding to this and has not authorized another country to sponsible to and work under the general
Agreement under Article XXI shall be asexercise its votes in accordance with paradirection of the Council. It shall have such
sessed by the Council on the basis of the graph 15 of this Article, the total votes to powers and functions as are expressly as
guaranteed quantity to be held by it and the be exercised by the exporting countries shall signed to it under this Agreement and such
period remaining in the current crop-year, be adjusted to a figure equal to the total
but the assessments made upon other exother powers and functions as the Council of votes to be exercised at that Session by
porting and importing countries for the may delegate to it under paragraph 9 of the importing countries and redistributed Article XIII.
current crop-year shall not be altered. among exporting countries in proportion to
5. Contributions shall be payable imme
3. The exporting countries on the Executheir guaranteed sales. tive Committee shall have the same total
diately upon assessment. Any exporting or (c) No exporting country or importing number of votes as the importing countries.
importing country failing to pay its contribucountry shall have less than one vote and
tion within one year of its assessment shall The votes of the exporting countries shall be there shall be no fractional votes.
forfeit its voting rights until its contribution divided among them as they shall decide, 11. The Council shall redistribute the votes
is paid, but shall not be deprived of its other in accordance with the provisions of paraprovided that no exporting country shall
rights nor relieved of its obligations under have more than forty per cent of the total graph 10 of this Article whenever there is
this Agreement. In the event of any exvotes of the exporting countries. The votes any change in the guaranteed purchases or
porting or importing country forfeiting its guaranteed sales for the current crop-year. of the importing countries shall be divided
voting rights under this paragraph its votes 12. If an exporting or an importing coun
among them as they shall decide, provided shall be redistributed as provided in paratry forfeits its votes under paragraph 5 of
that no importing country shall have more graph 12 of Article XIII.
than forty per cent of the total votes of the Article XVII or is deprived of its votes under
6. The Council shall, each crop-year, pubimporting countries. paragraph 7 of Article XIX, the Council shall
lish an audited statement of its receipts and redistribute the votes as if that country had
4. The Council shall prescribe rules of pro expenditures in the previous crop-year.
cedure regarding voting in the Executive no guaranteed quantity for the current crop
7. The Government of the country where Committee and may make such other proviyear.
the seat of the Council is situated shall grant 13. Any reduction in its guaranteed quansions regarding rules of procedure in the
exemption from taxation on the salaries paid Executive Committee as it thinks fit. tity accepted by an exporting country or an
by the Council to its employees except that decision of the Executive Committee shall reimporting country under paragraph 6 (b)
such exemption need not apply to the naof Article X and any transfer of part of a
quire the same majority of votes as this tionals of that country. country's guaranteed quantity for only one Agreement prescribes for the Council when
8. The Council shall, prior to its dissolucrop-year under paragraph 2 of Article XI making a decision on a similar matter.
tion, provide for the settlement of its liabilishall be disregarded for the purpose of redis
5. Any exporting or importing country ties and the disposal of its records and assets.
which is not a member of the Executive tributing votes under this Article.
Committee may participate, without voting, 14. Except where otherwise specified in
Article XVIII—Cooperation with other in the discussion of any question before the
intergovernmental organizations this Agreement, decisions of the Council shall Executive Committee whenever the latter
1. The Council may make whatever arbe by a majority of the total votes cast. 15. Any exporting country may authorize considers that the interests of that country
rangements are desirable for consultation any other exporting country, and any imare affected.
and cooperation with the appropriate organs
of the United Nations and its specialized porting country may authorize any other Article XV-Advisory Committee on Price
agencies and with other intergovernmental importing country, to represent its interests
organizations. and to exercise its votes at any meeting or The Council shall establish an Advisory 2. If the Council finds that any terms of meetings of the Council. Evidence of such
Committee on Price Equivalents consisting of this Agreement are materially inconsistent authorization satisfactory to the Council representatives of three exporting countries with such requirements as may be laid down shall be submitted to the Council.
and of three importing countries. The Com by the United Nations or through its approD. Sessions
mittee shall advise the Council and the priate organs and specialized agencies re16. The Council shall meet at least once
Executive Committee on the matters referred garding intergovernmental commodity agreeduring each half of each crop-year and at
to in paragraphs 4, 5, and 6 of Article VI and ments, the inconsistency shall be deemed to such other times as the Chairman may on such other questions as the Council or be a circumstance affecting adversely the decide.
the Executive Committee may refer to it. operation of this Agreement and the proce17. The Chairman shall convene a Session
The Chairman of the Committee shall be dure prescribed in paragraphs 3, 4, and 5 of of the Council if so requested by (a) five appointed by the Council.
Article XXII shall be applied. countries or (b) one or more countries
Article XVI—The Secretariat
Article XIX-Disputes and complaints holding a total of not less than 10 per cent
1. The Council shall have a Secretariat 1. Any dispute concerning the interpretaof the total votes or (c) the Executive
consisting of a Secretary and such staff as tion or application of this Agreement, which Committee.
may be required for the work of the Council E. Quorum
is not settled by negotiations, shall, at the and of its committees.
request of any country party to the dispute, 18. The presence of delegates with a ma 2. The Council shall appoint the Secretary be referred to the Council for decision. jority of the votes held by the exporting and determine his duties.
2. In any case where a dispute has been countries and majority of the votes held
3. The staff shall be appointed in accord referred to the Council under paragraph 1 by the importing countries prior to any
ance with regulations established by the of this Article, a majority of countries, or adjustment of votes under paragraph 10 (b) Council.
any countries holding not less than oneof this Article shall be necessary to consti
third of the total votes, may require the tute a quorum at any meeting of the Council,
1. The expenses of delegations to the
Council, after full discussion, to seek the
opinion of the advisory panel referred to in 19. The seat of the Council shall be Lon Committee, and of representatives on the
paragraph 3 of this Article on the issues in don unless the Council decides otherwise by Advisory Committee on Price Equivalents
Advisory Committee on Price Equivalents dispute before giving its decision. a majority of the votes cast by the export- shall be met by their respective Governments.
3. (a) Unless the Council unanimously ing countries and a majority of the votes The other expenses necessary for the admin
agrees otherwise, the panel shall consist of: cast by the importing countries. istration of this Agreement, including those
(i) two persons, one having wide experiG. Legal Capacity of the Secretariat and any remuneration
ence in matters of the kind in dispute, and which the Council may decide to pay to its the other having legal standing and experi20. The Council shall have in the territory
Chairman or its Vice Chairman, shall be met ence, nominated by the exporting countries; of each exporting and importing country by annual contributions from the exporting (ii) two such persons nominated by the such legal capacity as may be necessary for
and importing countries. The contribution importing countries; and the exercise of its functions under this
of each such country for each crop-year shall (iii) a chairman selected unanimously by Agreement.
be in the proportion which its guaranteed the four persons nominated under (i) and H. Decisions
quantity bears to the total guaranteed sales (ii) or, if they fail to agree, by the Chairman 21. Each exporting and importing country or purchases at the beginning of that of the International Wheat Council. undertakes to accept as binding all decisions crop-year.
(b) Persons from countries whose Governof the Council under the provisions of this 2. At its first Session after this Agreement ments are parties to this Agreement shall be Agreement.
comes into force, the Council shall approve eligible to serve on the advisory panel, and
persons appointed to the advisory panel shall August 1, 1953 or on the date of the deposit ceding Governments of each notification and
(c) The expenses of the advisory panel
Article XX111-Territorial application
4. The opinion of the advisory panel and ernments of each signature and acceptance Agreement, declare that its rights and obli-
nature or acceptance of or accession to this
gations under the Agreement shall not apply
votes shall be redistributed as provided in a majority of the votes held by the import-
been duly authorized to this effect by their
respective Governments, have signed this
Done at Washington, this thirteenth day of
come effective upon its acceptance by export- States of America, which shall transmit certi-
1. This Agreement shall be open for signa votes of the exporting countries and by im-
listed in Annex A and Annex B to Article III.
Subject to the acceptance however of
porting countries listed in Annex “A” to
one or more of such countries reducing
them respectively in the said Annex A
the Government of the Commonwealth
4. Any signatory Government which has August 1, 1953.
For the Kingdom of Belgium: