110

ad Article 24 Paragraph 8 For example, a Member which, as part of its exchange control operated in accordance with the Articles of Agreement of the International Monetary Fund, requires payment to be received for its exports in its own currency or in the currency of one or more members of the Fund would not thereby be deemed to contravene the provisions of Article 20 or 22. Another example would be that of a Member which specifies on an import licence the country from which the goods may be imported, for the purpose, not of introducing any additional element of discrimination in its import licensing system, but of enforcing permissible exchange controls. ad Article 29 Paragraph 1 Note 1 Different prices for sales and purchases of products in different markets are not precluded by the provisions of Article 29, provided that such different prices are charged or paid for commercial reasons, having regard to differing conditions, including supply and demand, in such markets. Note 2 Subparagraphs (a) and (6) of paragraph 1 shall not be construed as applying to the trading activities of enterprises to which a Member has granted licences or other special privileges (a) Solely to ensure standards of quality and efficiency in the conduct of its external trade ; or (b) For the exploitation of its natural resources ; Provided that the Member does not thereby establish or exercise effective control or direction of the trading activities of the enterprises in question, or create a monopoly whose trading activities are subject to effective governmental control or direction. ad Article 31 Paragraphs 2 and 4 The maximum import duty referred to in paragraphs 2 and 4 would cover the margin which has been negotiated or which has been published or notified to the Organization, whether or not collected, wholly or in part, at the custom house as an ordinary customs duty. Paragraph 4 With reference to the second proviso, the method and degree of adjustment to be permitted in the case of a primary commodity which is the subject of a domestic price stabilization arrangement should normally be a matter for agreement at the time of the negotiations under paragraph 2 (a).