Færöernes Kundgörelsessamling - 31.03.1941, Blaðsíða 11

Færöernes Kundgörelsessamling - 31.03.1941, Blaðsíða 11
19 27. Marts. Nr. 13. Agreement between His Britannic Majesty’s Government and the Administration of the Faroe Islands, for Regu* lating the Financial Relations between the United Kingdom and the Faroe Islands. I Overensstemmelse med Vedta- gelse af Lagtingets Landsnævn er der Dags Dato indgaaet følgende britisk-færøsk Overenskomst: 1. A joint Anglo-Faroese Com- mittee of Three shall be set up and maintained in Thorshavn for the purpose of advising on the Faroese trade and foreign exchange position and of assisting in the execution of the present Agree- ment. 2. The Faroese authorities shall impose quantitative limitation on imports of all commodities from all sourees, embodying such re- strictions as are unavoidable under war conditions. Every endeavour shall be made to supply the re- quirements of the Faroe Islands within these limits from British sourees. Where this is not possible His Majesty’s Government in the United Kingdom shall make the requisite foreign exchange available to Faroese importers on the same terms as to British importers, due aceount being taken of the foreign exchange in, or coming into, the possession of persons resident in the Faroe Islands. 3. Foreign exchange will not be provided for imports solely on the ground of favourable price without regard to the relative foreign ex- change difficulties attaching to dif- ferent sourees. If case arise where the gap between two prices is unreasonable wide the Committee of Three in Thorshavn will make recommendations. 4. Applications for foreign ex- change, including sterling, shall be considered by the Committee of Three in Thorshavn. The Govern- ment of the United Kingdom re- serve final decisions on applications to themselves but the recommen- dations of the Committee will nor- mally be accepted. 5. The Faroese authorities shall impose measures: — (a) prohibiting the import and ex- port of currency; and the ex- port of foreign securities and gold; (b) prohibiting the transfer of lo- cal currency to a non-resident; (c) requiring that any foreign ex- change including sterling in, or coming into possession of persons resident in the Faroe Islands shall be surrendered either to the Føroya Banki or Sjovinnubankin, who may buy outright at official rates or hold on blocked account; (d) providing for the supply of foreign exchange including sterling only for permitted im- ports and for no other pur- poses except those for which express permission is given. An import license will not be operative unless and until the


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