GH 7229 3
3. The Grant will be made available during the period
between the date of coming into force of the present
arrangements and March 31, 1986, unless the period is extended by mutual agreement between the authorities
concerned of the two Governments.
4. (1) The Government of Papua New Guinea or its
designated authority will enter into contracts in
Japanese yen with Japanese nationals or Japanese juridical persons controlled by Japanese nationals
for the purchase of the Equipment and services referred
to in paragraph 2
2: Such contracts shall be verified
by the Government of Japan to be eligible for the Grant.
(2) The Government of Papua New Guinea or its designated
authority will open through banking arrangements an
account to be used only for the purpose of the
implementation of the Grant, in the name of the
Government of Papua New Guinea in an authorized foreign
exchange bank of Japan designated by the Government
of Papua New Guinea or its designated authority.
(3) The Government of Japan will make payments in
Japanese yen to cover
cover the obligations incurred by the
Government of Papua New Guinea or its designated
authority under the verified contracts referred to in
sub-paragraph (1) above to the account referred to in
sub-paragraph (2) above, when payment requests are
+
20'd
928 ON
presented
OD CON
8:01 $1-58-98
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