3

" (4) The New Zealand Government will undertake to arrange for the transfer, at the direction of the Italian Government, of any of the sums set out in Schedule D, in the event that the person on whose account any such sum is held shall forfeit his or her British nationality and New Zealand citizenship without having received payment of the said sum. " (5) The New Zealand Government will undertake that the moneys retained to meet the claims of New Zealand citizens, as set out in Schedule E, will be retained under custodian control until adequate proof of entitlement is submitted. If in any case the claimant does not produce satisfactory evidence of his claim, the New Zealand Government will arrange for the transfer, at the direction of the Italian Government, of the moneys retained in satisfaction of the said claim. " (6) The Italian Government will undertake to indemnify the New Zealand Government in respect of all claims affecting the assets held on account of Italian nationals as set forth in Schedules A, B, C and D. " (7) The Italian Government will undertake to account to the New Zealand Government for any moneys or property held under custodian control in Italy on account of New Zealand citizens. " (8) The New Zealand and Italian Governments will each furnish to the other party to this agreement all possible assistance in identifying any moneys or property held under custodian control by one party on account of the nationals or citizens of the other party and in establishing the validity of any claim in respect of such moneys or property." 3. If the Italian Government are prepared to accept the foregoing provisions, I have the honour to suggest that the present note, and your reply in similar terms, should be regarded as placing on record the agreement between the two Governments, which will take effect on 19 April 1950. I have, Sec, F. W. Doidge, Minister of External Affairs. [Here follow the Schedules referred to in Note No. I]* * Not printed.