TNAG-1982-FCO40-2815-Cultural-agreement-between-Hong-Kong-and-Japan-1989 — Page 18

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3. The Grant shall be made available during the period

between the date of coming into force of the present

arrangements and March 31, 1988, unless the period is

extended by mutual agreement between the authorities

concerned of the two Governments.

4.

(1)

The Government

•

of

or the

Hong Kong

University of Hong Kong as its designated

authority shall enter into contracts in Japanese

yen with Japanese nationals ΟΙ Japanese

juridical persons controlled by Japanese

nationals for the purchase of the Equipment and

services

in paragraph 2.

referred

to

Such

contracts shall be verified by the Government of

Japan to be eligible for the Grant.

(2)

The

University

authority

Government of Hong Kong or the

of Hong Kong as its

shall

open

through

designated

banking

arrangements an account to be used only for the

purpose of the

implementation of the Grant, in

the name of the Government of Hong Kong or the

University of Hong Kong as its designated

authority in an authorized foreign exchange

bank of Japan designated by the Government of

Hong Kong or the University of Hong Kong as

its

designated authority.