Agreement relating to the transfer and distribution of the assets of the European Commission of the Danube

Filename: 1977-EuropeanDanubeCommissionAssetDistribution.EN.txt
Source: 1286 UNTS 53

Agreement relating to the transfer and distribution of the assets of the European Commission of the Danube

Source: 1286 UNTS 53

[TRANSLATION: Government of the United Kingdom.]

The European Commission of the Danube, the Government of the French Republic, the Government of the Italian Republic, and the Government of the United Kingdom of Great Britain and Northern Ireland - these three Governments concluding simultaneously with the Government of the Socialist Republic of Romania the Agreement the text of which is annexed hereto - and the Government of the Hellenic Republic,

Considering it advisable to settle the issues still outstanding with the Government of the Socialist Republic of Romania;

Considering it appropriate to transfer to the European Commission of the Danube one hundred and thirteen kilograms six hundred and fifty-four grams of fine gold at present deposited with the Banca d'Italia in the name of the Italian Treasury;

Considering it advisable, after deducting the quantity of fine gold remitted to the Romanian Government, to distribute between the French, Italian and United Kingdom Governments the assets of the European Commission of the Danube deposited with the Bank for International Settlements in Basle, the Banque de France in Paris and Barclays Bank in London, together with the gold at present deposited with the Banca d'Italia;

Considering it necessary for the French, Italian and United Kingdom Governments to provide for the Hellenic Government, which is not participating in this distribution, adequate safeguards with regard to any claims which might be made against it as a former member of the European Commission of the Danube;

Have agreed as follows:

Article 1. The European Commission of the Danube agrees that the Governments of the French Republic, the Italian Republic and the United Kingdom of Great Britain and Northern Ireland should settle in accordance with the provisions of the Agreement the text of which is annexed hereto (annex B) the relationship between the European Commission of the Danube and the Government of the Socialist Republic of Romania with regard to the pensions of former Romanian employees of the European Commission of the Danube and with regard to the measures required to make available to the said Governments the assets in gold held by the European Commission of the Danube with the Bank for International Settlements in Basle, namely, fourteen kilograms five hundred and sixteen grams (14.516 kg) of fine gold, with the Banque de France in Paris, namely twenty-three kilograms four hundred and nine grams nine decigrams (23.4099 kg) of fine gold, and the British Treasury bonds deposited with Barclays Bank in London of a purchase value of eight thou-sand four hundred and seventy-five pounds sixty-eight pence (1'8,475.68 sterling), together with the quantity of gold at present in Italy referred to in the following article.

Article 2. For its part the Government of the Italian Republic shall transfer to the European Commission of the Danube which shall be free to dispose thereof the one hundred and thirteen kilograms six hundred and fifty-four grams (113.654 kg) of fine gold at present deposited with the Banca d'Italia in the name of the Italian Treasury which the former Direction du Danube maritime had originally deposited in its name with the Banca Commerciale Italiana of Milan.

The European Commission of the Danube shall pay to the Government of the Italian Republic a sum corresponding to the legal fees and safe custody charges and amounting to five million one hundred and twenty-three thousand eight hundred and ninety-three lire (5,123,893 lire).

Article 3. Apart from that which is the subject-matter of the Agreement, the text of which is annexed hereto, and of any other debts which the European Commission of the Danube may have, the gold and bonds referred to in articles 1 and 2, together with the other assets which might still exist, shall be the property of the European Commission of the Danube.

Article 4. Not being a creditor of the European Commission of the Danube, the Government of the Hellenic Republic declares that it has no claims against that Commission and the Governments of the other three member countries.

The latter give the Government of the Hellenic Republic a guarantee in accordance with the terms and conditions laid down in the Declaration annexed to this Agreement (annex A).

This guarantee can under no circumstance extend beyond the assets which will be distributed between the three creditor governments of the European Commission of the Danube and will be, in the case of each such government, proportional to its share.

Article 5. Each Signatory Government shall inform the Italian Ministry for Foreign Affairs in Rome in writing that the constitutional procedure required in each country for the coming into force of this Agreement has been duly completed.

When all the notifications necessary for the application of this Agreement as well as of the Agreement between the Government of the Socialist Republic of Romania and the Government of the French Republic, the Government of the Italian Republic and the Government of the United Kingdom of Great Britain and Northern Ireland, the text of which is annexed hereto, have been completed, both Agreements shall come simultaneously into force, and the Italian Government shall inform each Signatory Government of the date of their coming into force.

DONE at Rome this twenty-third day of April in the year one thousand nine hundred and seventy-seven in five copies in the French language, one for each Signatory.

For the European Commission of the Danube: ORAZIO ANTINORI

For the Government of the French Republic: DEJEAN DE LA BATIE

For the Government of the Italian Republic: ORAZIO ANTINORI

For the Government of the United Kingdom of Great Britain and Northern Ireland: ALAN CLOWES GOODISON

For the Government of the Hellenic Republic: LEONIDAS VRAILAS