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might attach a reservation to its acceptance of the Arrangement in order to pro- vide, in effect, an escape clause from the provisions of paragraphs 1 and 3 of Article 2 and of paragraphs 2 and 3 of Annex B.
33. A country wishing to make such a reservation should submit its request to that effect to the Executive Secretary of GATT, not later than 1 September 1962; in the request should be set out the country's case for exemption from the pro- visions of paragraphs 1 and 3 of Article 2 and of paragraphs 2 and 3 of Annex B. The reservation would immediately be circulated to all contracting parties to GATT and to other governments represented by observers at the present meeting of the Committee. If by 1 October, the date on which the Arrangement is to enter into operation, none of the contracting parties at present members of the Cotton Textiles Committee which at that time had accepted the Arrangement without themselves having entered reservations, had raised an objection, the reservation would be deemed to be valid. Reservations thus accepted would be attached in the form of Protocols to the Arrangement.
34. In connexion with the question of reservations the Committee recognized that if Australia, whose situation was different from that of the countries referred to above, wished to participate in the Long-Term Arrangement but could only do so if the other participating countries were prepared to accept certain conditions for such participation, it would be able to follow the normal reservation procedure
35. Any country which accepts the Long-Term Arrangement with a reservation. will be able to take part in any meeting called pursuant to Article 12.