مجموعة ٣٠/ ٢٢٤ "ترتيبات العملة في المشيخات العربية في الخليج الفارسي." [و‎‎٢‎٦‎٩] (٦٢٠/٥٥٢)

(c) either Government imposes quantitative restrictions having equivalent
effect to any exchange restrictions which that Government is
authorised to impose in conformity with Article VII of the Articles
of Agreement of the International Monetary Fund.
The provisions of this Section shall become effective as soon as practicable,
but not later than 31st December, 1946.
10. Accumulated Sterling Balances
(i) The Government of the United Kingdom intends to make agreements
with the countries concerned, varying according to the circumstances of each
case, for an early settlement covering the sterling balances accumulated by
sterling area and other countries prior to such settlement (together with any
future receipts arising out of military expenditure by the Government of the
United Kingdom to the extent to which they are treated on the same basis
by agreement with the countries concerned). The settlements with the
sterling area countries will be on the basis of dividing these accumulated
balances into three categories: —
(a) balances to be released at once and convertible into any currency for
current transactions;
(b) balances to be similarly released by instalments over a period of
years beginning in 1951; and
(c) balances to be adjusted as a contribution to the settlement of war
and post-war indebtedness and in recognition of the benefits which
the countries concerned might be expected to gain from such a
settlement.
The Government of the United Kingdom will make every endeavour to
secure the early completion of these arrangements.
(ii) In consideration of the fact that an important purpose of the present
line of credit is to promote the development of multilateral trade and facilitate
its early resumption on a non-discriminatory basis, the Government of the
United Kingdom agrees that any sterling balances released or otherwise
available for current payments will, not later than one year after the effective
date of this Agreement, unless in special cases a later date is agreed upon
after consultation, be freely available for current transactions in any currency
area without discrimination.
11 . Definitions
For the purposes of this Agreement:
(i) The term “ current transactions ” shall have the meaning prescribed in
Article XIX (i) of the Articles of Agreement of the International Monetary
Fund.
(ii) The term “ sterling area ” means the United Kingdom and the other
territories declared by the Defence (Finance) (Definition of Sterling Area)
(No. 2) Order, 1944, to be included in the sterling area, namely, “the
following Territories excluding Canada and Newfoundland, that is to say: —
(a) any Dominion,
(b) any other part of His Majesty’s dominions,
(c) any territory in respect of which a mandate on behalf of the League
of Nations has been accepted by His Majesty and is being exercised
by His Majesty’s Government in the United Kingdom, or in 'any
Dominion,
(d) any British Protectorate or Protected State,
(e) Egypt, the Anglo-Egyptian Sudan and Iraq,
(/) Iceland and the Faroe Islands.