63 STAT.] PERU-COOPERATIVE EDUCATION- Ag 26 , 1949 2885 Sept. 1 , 1949 the program, or be returned to the parties hereto in the proportion of the respective contributions made by the parties under the Basic Agreement (including any extensions and amendments thereof). 2. Sub-section 2 of Clause IV of the Extension Agreement signed by the parties hereto on July 6, 1948 is hereby amended to read as follows: "2. Any of the funds introduced into Perd by the Institute for the purpose of the cooperative education program shall be exempt from taxes, service charges, investment or deposit requirements, and other currency controls. Any of the funds deposited by the Institute to the credit of the Servicio shall be exchanged at the highest rate which, on the day the exchange is made, is available to the Government of the United States for its diplomatic and other official expenditures in Peru, but in any event, at a rate of exchange of not less than S/.6.485 per dollar." CLAUSE IV The Republic undertakes to obtain or promulgate such legislation, Legilation decrees, orders or resolutions as may be necessary to effectuate the terms of this Extension Agreement. CLAUSE V This Extension Agreement shall become effective as of the first of Efftive dat. July on the date it is signed. IN WITNESS WHEREOF, the parties hereto have caused this Extension Agreement to be executed by their duly authorized Representatives, in quintuplicate, in the Spanish and English languages, in Lima, Peru, this 1° day of September, 1949. FOR THE REPUBLIC OF PERU FOR THE INSTITUTE OF INTER AMERICAN AFFAIRS MENDOZA. LrLE B PEMBER BY BY Juan Mendoza R. Lyle B. Pember Minister of Public Education Special Representativ
�
