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54

Article 53 : Special Procedure with respect to Services It is recognized that effects similar to those resulting from the employment of practices discussed in this chapter may be precipitated through discriminatory action by special services such as shipping, insurance companies, and banks. If any Member considers its interests detrimentally affected, it can submit a written statement of the position to the Member within whose territory the service complained of is operating. Opportunity for consultation shall be given with a view to adjustment. If adjustment is not effected it may be referred to the Organization, which, in turn, shall transfer the matter to the appropriate intergovernmental organization if one exists. If not, the Organization may be asked to promote an international agreement to meet the situation. As previously mentioned, the following interpretative note is included in Annex P in relation to this Article : " The provisions of this Article shall not apply to matters relating to shipping services which are subject to the Convention of the Intergovernmental Maritime Consultative Organization." Article 54 : Interpretation and Definition If any Member acts in accordance with specific provisions of other parts of the Charter such action cannot be challenged under Chapter V. For instance, restrictive action taken under an inter-governmental commodity agreement is exempted. Members' rights under other provisions of the Charter must be respected. A contract between two parties as buyer and seller is not to be regarded as a restrictive practice so long as such contract does not result in restricted competition, limiting access to markets, or foster monopolistic control. CHAPTER VI.—INTER-GOVERNMENTAL COMMODITY AGREEMENTS (Articles 55-70) The concept of multilateral governmental agreements covering the conditions of trade in respect of primary commodities is not a new one. It arises from the historical fact that such products are subject to violent price fluctuations which have resulted in varying degrees of economic chaos to producers, an unsatisfactory supply position for consumers, and generally an instability in national economies. Early in the twentieth century efforts were made to introduce international agreements of this type, but it was not until the effects of price instability were felt, in the period between the two wars, that real progress was recorded. During that period the marketing of meat, cotton, rubber, sugar, tea, timber, tin, wheat, and wool was subjected to study, and varying types of inter-governmental agreements were

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