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Monetary Fund, or under an analogous provision of a special exchange agreement entered into pursuant to paragraph 6 of Article XV. " (V) A contracting party which is applying restrictions under Article XII and which on March 1, 1948, was applying import restrictions to safeguard its balance of payments in a manner which deviated from the rules of non-discrimination set forth in Article XIII may, to the extent that such deviation would not have been authorized on that date by subparagraph (b), continue so to deviate, and may adapt such deviation to changing circumstances. " (d) Any contracting party which before July 1, 1948, has signed the Protocol of Provisional Application agreed upon at Geneva on October 30, 1947, and which by such signature has provisionally accepted the principles of paragraph 1 of Article 23 of the Draft Charter submitted to the United Nations Conference on Trade and Employment by the Preparatory Committee, may elect, by written notice to the CONTRACTING PARTIES before January 1, 1949, to be governed by the provisions of Annex J of this Agreement, which embodies such principles, in lieu of the provisions of subparagraphs (b) and (c) of this paragraph. The provisions of subparagraphs (b) and (c) shall not be applicable to contracting parties which have so elected to be governed by the provisions of Annex J : and conversely, the provisions of Annex J shall not be applicable to contracting parties which have not so elected. " (e) The policies applied in the use of import restrictions under subparagraphs (b) and (c) or under Annex Jin the post-war transitional period shall be designed to promote the maximum development of multilateral trade possible during that period and to expedite the attainment of a balance-of-payments position which will no longer require resort to the provisions of Article XII or to transitional exchange arrangements. "(f) A contracting party may deviate from the provisions of Article XIII, pursuant to subparagraphs (b) or (c) of this paragraph or pursuant to Annex J, only so long as it is availing itself of the post-war transitional period arrangements under Article XIV of the Articles of Agreement of the International Monetary Fund, or of an analogous provision of a special exchange agreement entered into under paragraph 6 of Article XV. " GO Not later than March 1, 1950 (three years after the date on which the International Monetary Fund began operations), and in each year thereafter, the CONTRACTING PARTIES .shall report on any action still being taken by contracting parties under subparagraphs (b) and (c) of this paragraph or under Annex J.