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Part ll.—Wages Article 5 1. The basic pay or wages for a calendar month of service of an able seaman employed in a vessel to which this Convention applies shall not be less than sixteen pounds in currency of the United Kingdom of Great Britain and Northern Ireland or sixty-four dollars in currency of the United States of America or the equivalent thereof in other currency. 2. In the event of a change in the par value of the pound or the dollar being notified to the International Monetary Fund—{a) The minimum basic wage prescribed in paragraph 1 of this Article in terms of the currency in respect of which such notification has been made shall be adjusted so as to maintain equivalence with the other currency; (b) The adjustment shall be notified by the Director of the International Labour Office to the Members of the International Labour Organization ; and (c) The minimum basic wage so adjusted shall be binding upon Members which have ratified the Convention in the same manner as the wage prescribed in paragraph 1 of this Article, and shall take effect for each such Member not later than the beginning of the second calendar month following that in which the Director communicates the change to Members. Article 6 1. In the case of ships in which are employed such groups of ratings as necessitate the employment of larger groups of ratings than would otherwise be employed the minimum basic pay or wages of an able seaman shall be an amount fixed as the adjusted equivalent of the minimum basic pay or wages stipulated in the preceding Article. 2. The adjusted equivalent shall be fixed in accordance with the principle of equal pay for equal work and due allowance shall be made for — (a) The extra number of ratings of such groups who are employed ; and (b) Any increase or decrease in cost to the shipowner consequent on the employment of such groups of ratings. 3. The adjusted equivalent shall be determined by collective agreement between the organizations of shipowners and seafarers concerned, or, failing such agreement and subject to both countries concerned having ratified the Convention, by the competent authority of the territory of the group of seafarers concerned. Article 7 If meals are not provided free of charge, the minimum basic pay or wages shall be increased by an amount to be determined by collective agreement between the organizations of shipowners and seafarers concerned or, failing such agreement, by the competent authority. Article 8 1. The rate to be used for determining the equivalent in other currency of the minimum basic pay or wages prescribed in Article 5 shall be the ratio between the par value of that currency and the par value of the pound of the United Kingdom of Great Britain and Northern Ireland or of the dollar of the United States of America. 2. In the case of the currency of a Member of the International Labour Organization which is a Member of the International Monetary Fund the par value shall be that currently in effect under the Articles of agreement of the International Monetary Fund. 3. In the case of the currency of a Member of the International Labour Organization which is not a Member of the International Monetary Fund, the par value shall be the official rate of exchange, in terms of gold or of the dollar of the United States of America of the weight and fineness in effect on 1 July, 1944, currently in effect for payments and transfers for current international transactions.

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