Bank as laid down above. Nor will any request be made fore the conversion of these currencies into gold.
(2) If the two contracting parties should agree to change the official rate of exchange between the guilder and the pound sterling, the amount of guilders to be paid by the Bank of England in respect of the sterling held by the Javasche Bank would be calculated at the rate in force when the sterling was acquired. A similar arrangement would apply to guilders held by the Bank of England.
Article 6
(1) The sterling held by the Javasche Bank may be used to pay for all expenditure in sterling in the sterling area, that is to say, in any part of His Majesty’s dominions (except Canada, Newfoundland and Hong Kong), any territory in respect of which a mandate on behalf of the League of Nations has been accepted by His Majesty and is being exercised by His Majesty’s Government in the United Kingdom or in any Dominion, any British protectorate or protected state, Egypt, the Anglo-Egyptian Sudan and Iraq.
(2) The guilders held by the Bank of England may be used to pay for all expenditure in guilders in the Netherlands Indies (as defined in Article 12).
(3) If either country wishes to make payments to a third country in the currency of the other country, this shall be done only after prior consultation and agreement between the two Governments.
Article 7
The Javasche Bank and the Bank of England will, if necessary, provide against pounds sterling or against guilders, the local currencies needed for all payments in the Netherlands Kingdom or in the sterling area respectively.
Article 8
The United Kingdom and Netherlands Treasuries will consider and constantly watch over all questions relating to the equitable distribution of expenditure in dollars or in gold borne by each country, which are made necessary by the conduct of the war.
Article 9
The United Kingdom and Netherlands Treasuries will examine from time to time, and at least once every three months, the amount of and the reasons
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