'Treaty of Peace with Turkey. Signed at Sévres, August 10, 1920. [With Maps.]' [‎39r] (57/112)

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schedule of the Customs charges shall be made except with the approval of the
Financial Commission.
The Governments of France, Great Britain and Italy will decide, by a majority
and after consulting the bondholders, whether the Council should he maintained or
replaced by the Financial Commission on the expiry of the present term of the
Council. The decision of the Governments shall be taken at least six months before
the date corresponding to the expiry of this period.
Article 247.
The Commission has authority to propose, at a later date, the substitution for the
pledges at present granted to bondholders, in accordance with their contracts or
existing decrees, of other adequate pledges, or of a charge on the general revenues
of Turkey. The Allied Governments undertake to consider any proposals the Finan
cial Commission might then have to make on this subject.
Article 248.
All property, movable and immovable, belonging to the Administration of the
Ottoman Public Debt, wherever situate, shall remain integrally at the disposal of that
body.
The Council of the Debt shall have power to apply the value of any realised pro
perty for the purpose of extraordinary amortisation either of the Unified Debt or of
the Lots Turcs.
Article 249.
The Turkish Government agrees to transfer to the Financial Commission all its
rights in the Reserve Funds and the Tripoli Indemnity Fund.
Article 250.
A sum equal to the arrears of any revenues heretofore affected to the service of
the Ottoman Public Debt within the territories remaining Turkish, which should
have been but have not been paid to the Council of the Debt, shall (except where
such territories have been in the military occupation of Allied forces and for the time
of such occupation) be paid to the Council of the Debt by the Turkish Government
as soon as in the opinion of the Financial Commission the financial condition of
Turkey shall permit.
Article 251.
The Council of the Debt shall review all the transactions of the Council which
have taken place during the war. Any disbursements made by the Council which were
not in accordance with its powers and duties, as defined by the Decree of Mouharrem
or otherwise before the war, shall be reimbursed to the Council of the Debt by the
Turkish Government so soon as in the opinion of the Financial Commission such
payment is possible. The Council shall have power to review any action on the
part of the Council during the war, and to annul any obligation which in its opinion
is prejudicial to the interests of the bondholders, and which was not in accordance
with the powers of the Council of the Debt.
Article 252.
Any of the States which under the present I reaty are to contribute to the annual
charge for the service of the Ottoman Public Debt may, upon giving six months no
tice to the Council of the Debt, redeem such obligation by payment of a sum repre
senting the value of such annuity capitalised at such rate of interest as may be agree
between the State concerned and the Council of the Debt. The Council of the Debt
shall not have power to require such redemption.
Article 258.
The sums in gold to be transferred by Germany and Austria under the provisions of
Article 959 m (2) (4) and (7) of the Treaty of Peace with Germany, and under
Article 210 (1) of the Treaty of Peace with Austria, shall be placed at the disposal ot me
Financial Commission.
Article 254.
The sums to be transferred by Germany in accordance with Article 259 (3) of the
Treaty of Peace with Germany shall be placed forthwith at the disposal ot the Counci
the Debt.
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