'Treaty of Peace with Turkey. Signed at Sévres, August 10, 1920. [With Maps.]' [‎45r] (69/112)

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by that Allied Power with payment of amounts due in respect of claims by the nationals
of that Allied owei under Article 2(S7 or in respect of debts owin^ to them by Turkish
The proceeds of the liquidation or such property, rights and interests not used as
provide in Article 289 and the first paragraph of this Article shall be paid to the
1^ ein pi°y e( l i n accordance with the provisions of Article 266
(ii), 1 art V III (financial Clauses) of the present Treaty.
Article 292.
The Turkish Government undertakes to compensate its nationals in respect of the
sale or retention of their property, rights or interests in Allied countries.
Article 293.
The Governments of an Allied Power or new State exercising authority in territory
detached from I urkey in accordance with the present Treaty or any other Treaty con
cluded since October 17, 1912, may liquidate the property, rights and interests of Turkish
companies or companies controlled by lurkish nationals in such territory ; the proceeds
of the liquidation shall be paid direct to the company.
I his Article shall not apply to companies in which Allied nationals, including those
of the territories placed under mandate, had on August 1, 1914, a preponderant interest.
Lhe provisions of the first paragraph of this Article relating to the payment of the
proceeds of liquidation do not apply in the case of railway undertakings where the owner
is a Turkish company in which the majority of the capital or the control is held by
German, Austrian, Hungarian or Bulgarian nationals either directly or through their
interests in a company controlled by them, or was so held on August 1, 1914. In such
case the proceeds of the liquidation shall be paid to the Financial Commission.
Article 294.
The Turkish Government shall, on the demand of the Principal Allied Powers, take
over the undertaking, property, rights and interests of any Turkish company holding a
railway concession in Turkish territory as. it results from the present Treaty, and shall
transfer in accordance with the advice of the Financial Commission the said undertaking,
property, rights and interests, together with any interest which it may bold in the line or
in the undertaking, at a price to be fixed by an arbitrator nominated by the Council of the
League of Nations. The amount of this price shall be paid to the Financial Commission
and shall be distributed by it, together with any amount received in accordance with
Article 293, among the persons directly or indirectly interested in the company, the
proportion attributable to the interests of nationals of Germany, Austria, Hungary or
Bulgaria being paid to the Reparation Commission established under the Treaties of Peace
with Germany, Austria, Hungary and Bulgaria respectively ; the proportion of the price
attributable to the Turkish Government shall be retained by the Financial Commission for
the purposes referred to in Article 236, Part VIII (Financial Clauses) of the present
Treaty.
Article 295.
Until the expiration of a period of six months from the coming into force of the
present Treaty, the Turkish Government will effectively prohibit all dealings with the
property, rights and interests within its territory which belong, at the date of the coming
into force of the present Treaty, to Germany, Austria, Hungary, Bulgaria or their nationals,
except in so far as may be necessary for the carrying into effect of the provisions of
Article 260 of the Treaty of Peace with Germany or any corresponding provisions in the
'Treaties of Peace with Austria, Hungary or Bulgaria.
Subject to any special stipulations in the present Treaty affecting property of the said
States, the Turkish Government will proceed to liquidate any of the property, rights or
interests above referred to which may be notified to it within the said period of six months
by the Principal Allied Powers. The said liquidation shall be effected under the direction
of the said Powers and in the manner indicated by them. The prohibition of dealings
with such property shall be maintained until the liquidation is completed.
The proceeds of liquidation shall be paid direct to the owners, except where the
property so liquidated belongs to the German, Austrian, Hungarian or Bulgarian States,
in which’event the proceeds shall be handed over to the Reparation Commission established
under the Treaty of Peace with the State to which the property belonged.