62 STAT.] IRELAND-ECONOMIC COOPERATION-JUNE 28, 1948 2. Taking into account Article 8 of the Convention for European Economic Cooperation ['] looking toward the full and effective use of manpower available in the various participating countries, the Gov- ernment of Ireland will accord sympathetic consideration to proposals made in conjunction with the International Refugee Organization directed to the largest practicable utilization of manpower available in any of the participating countries in furtherance of the accomplish- ment of the purposes of this Agreement. 3. The Government of Ireland will take the measures which it deems appropriate, and will cooperate with other participating coun- tries, to prevent, on the part of private or public commercial enter- prises, business practices or business arrangements affecting inter- national trade which restrain competition, limit access to markets or foster monopolistic control whenever such practices or arrangements have the effect of interfering with the achievement of the joint pro- gram of European recovery. Article III. (Guaranties) 1. The Governments of the United States of America and Ireland will, upon the request of either Government, consult respecting projects in Ireland proposed by nationals of the United States of America and with regard to which the Government of the United States of America may appropriately make guaranties of currency transfer under section III (b) (3) [2] of the Economic Cooperation Act of 1948. 2. The Government of Ireland agrees that if the Government of the United States of America makes payment in United States dollars to any person under such a guaranty, any Irish pounds or credits in Irish pounds, assigned or transferred to the Government of the United States of America pursuant to that section shall be recognized as property of the Government of the United States of America. Article IV. (Local Currency) 1. The provisions of this Article shall apply only with respect to assistance which may be furnished by the Government of the United States of America on a grant basis. 2. The Government of Ireland will establish a special account in the Central Bank of Ireland in the name of the Government of Ireland (hereinafter called the Special Account) and will make deposits in Irish pounds to this account in amounts commensurate with the indicated dollar cost to the Government of the United States of America of commodities, services and technical information (includ- ing any costs of processing, storing, transporting, repairing or other services incident thereto) made available to Ireland on a grant basis by any means authorized under the Economic Cooperation Act of Department of State publication 3145, p. 14. "Section III (b) (3)" should read "section 111 (b) (3)". 2411 Utilization of man- power. Prevention of prac- tices interfering with achievement of pro- gram. Post, pp . 2418,2419. 62 Stat. , Pt. 1, pp. 144, 1056. Post, p. 2418. Poet, p. 2418 . Special account in Central Bank of Ire- land.
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