TNAG-1551-FCO40-2115-Possible-cultural-agreement-between-Hong-Kong-and-Japan-1986 — Page 26

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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 Gina 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 paymonta in

Japanese yen to 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 requesta are

20'd

928 UN

presented

GAI HON

-98