Where one or more Member States of the Community Sample Clauses

Where one or more Member States of the Community or the Palestinian Authority, is in serious balance of payments difficulties, or under threat thereof, the Community or the Palestinian Authority, as the case may be, may, in accordance with the conditions established under the GATT and Articles VIII and XIV of the Articles of Agreement of the International Monetary Fund, adopt restrictions on current transactions which shall be of limited duration and may not go beyond what is necessary to remedy the balance of payments situation. The Community or the Palestinian Authority, as the case may be, shall inform the other Party forthwith and shall submit to it as soon as possible a timetable for the elimination of the measures concerned.
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Where one or more Member States of the Community or Jordan face or risk facing serious difficulties concerning balance of payments, the Community and Jordan respectively may, in conformity with the conditions laid down within the framework of the GATT and with Articles VIII and XIV of the Articles of Agreement of the International Monetary Fund, take restrictive measures with regard to current payments if such measures are strictly necessary. The Community or Jordan, as appropriate, shall inform the other Party immediately thereof and shall provide as soon as possible a timetable for the removal of such measures.
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Where one or more Member States of the Community or Austria is in difficulties or is seriously threatened with difficulties as regards its balance of payments, the contracting party concerned may take the necessary safeguard measures. It shall inform the other contracting party forthwith. 1. A joint committee is hereby established, which shall be responsible for the administration of the agreement and shall ensure its proper implementation. For this purpose, it shall make recommendations and take decisions in the cases provided for in the agreement. These decisions shall be put into effect by the contracting parties in accordance with their own rules. 2. For the purpose of the proper implementation of the agreement, the contracting parties shall exchange information and, at the request of either party, shall hold consultations within the joint committee. 3. The joint committee shall adopt its own rules of procedure. 1. The joint committee shall consist of representatives of the contracting parties. 2. The joint committee shall act by mutual agreement. 1. Each contracting party shall preside in turn over the joint committee, in accordance with the arrangements to be laid down in its rules of procedure. 2. The chairman shall convene meetings of the joint committee at least once a year in order to review the general functioning of the agreement. The joint committee shall, in addition, meet whenever special circumstances so require, at the request of either contracting party, in accordance with the conditions to be laid down in its rules of procedure. 3. The joint committee may decide to set up any working party that can assist it in carrying out its duties. 1. Where a contracting party considers that it would be useful in the interest of the economies of the contracting parties to develop the relations established by the agreement by extending them to fields not covered thereby, it shall submit a reasoned request to the other contracting party. The contracting parties may instruct the joint committee to examine this request and, where appropriate, to make recommendations to them, particularly with a view to opening negotiations. 2. The agreements resulting from the negotiations referred to in paragraph 1 will be subject to ratification or approval by the contracting parties in accordance with their own procedures.
Sample 1
Where one or more Member States of the Community or Switzerland is in difficulties or is seriously threatened with difficulties as regards its balance of payments, the Contracting Party concerned may take the necessary safeguard measures. It shall inform the other Contracting Party forthwith. 1 A Joint Committee is hereby established, which shall be responsible for the administration of the Agreement and shall ensure its proper implementation. For this purpose, it shall make recommendations and take decisions in the cases provided for in the Agreement. These decisions shall be put into effect by the Contracting Parties in accordance with their own rules.
Sample 1

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