THE TREATY OF PEACE BETWEEN THE ALLIED AND ASSOCIATED POWERS
AND TURKEY
SIGNED AT SÈVRES
AUGUST 10, 1920

Index | Parts: 1 2 3 4 5 6 7 8 9 10 11 12 13

PART IX.

ECONOMIC CLAUSES.

SECTION I.

COMMERCIAL RELATIONS.

ARTICLE 261 .

The capitulatory regime resulting from treaties, conventions or usage shall be re-established in favour of the Allied Powers which directly or indirectly enjoyed the benefit thereof before August 1, 1914, and shall be extended to the Allied Powers which did not enjoy the benefit thereof on that date.

ARTICLE 262.

The Allied Powers who had post-offices in the former Turkish Empire before August 1, 1914, will be entitled to re-establish post-offices in Turkey.

ARTICLE 263.

The Convention of April 25, 1907, so far as it relates to the rate of import duties in Turkey, shall be re-established in force in favour of all the Allied Powers.

Nevertheless the Financial Commission established in accordance with Article 231, Part VIII (Financial Clauses) of the present Treaty may at any time authorise a modification of these import duties, or the imposition of consumption duties, provided that any duties so modified or imposed shall be applied equally to goods of whatever ownership or origin.

No modification of existing duties or imposition of new duties authorised by the Financial Commission by virtue of this Article shall take effect until after a period of six months from its notification to all the Allied Powers. During this period the Commission shall consider any observations relative thereto which may be formulated by any Allied Power.

ARTICLE 264.

Subject to any rights and exemptions resulting from concession contracts made before August 1, 1914, the Financial Commission shall be entitled to authorise the application by Turkey, in the conditions of equality laid down in Article 263, to the persons or property of the nationals of the Allied Powers of any taxes or duties which shall similarly be imposed on Turkish subjects in the interests of the economic stability and good government of Turkey.

The Financial Commission shall also be entitled to authorise the application, in the same interests and in the same conditions to the nationals of the Allied Powers of any prohibitions on import or export.

No such tax, duty or prohibition shall take effect until after a period of six months from its notification to all the Allied Powers. During this period the Commission shall consider any observations relative thereto that may be formulated by any Allied Power.

ARTICLE 265.

In the case of vessels of the Allied Powers all classes of certificates or documents relating to the vessel which were recognised as valid by Turkey before the war, or which may hereafter be recognised as valid by the principal maritime States, shall be recognised by Turkey as valid and as equivalent to the corresponding certificates issued to Turkish vessels.

A similar recognition shall be accorded to the certificates and documents issued to their vessels by the Governments of new States, whether they have a sea-coast or not, provided that such certificates and documents shall be issued in conformity with the general practice observed in the principal maritime States.

The High Contracting Parties agree to recognise the flag flown by the vessels of an Allied Power or a new State having no sea-coast which are registered at some one specified place situated in its territory; such place shall serve as the port of registry of such vessels.

ARTICLE 266.

Turkey undertakes to adopt all the necessary legislative and administrative measures to protect goods the produce or manufacture of any one of the Allied Powers or new States from all forms of unfair competition in commercial transactions.

Turkey undertakes to prohibit and repress by seizure and by other appropriate remedies the importation, exportation, manufacture, distribution, sale or offering for sale in her territory of all goods bearing upon themselves or their usual get-up or wrappings any marks, names, devices or descriptions whatsoever which are calculated to convey directly or indirectly a false indication of the origin, type, nature or special characteristics of such goods.

ARTICLE 267.

Turkey undertakes, on condition that reciprocity is accorded in these matters, to respect any law, or any administrative or judicial decision given in conformity with such law, in force in any Allied State or new State and duly communicated to her by the proper authorities, defining or regulating the right to any regional appellation in respect of wine or spirits produced in the State to which the region belongs, or the conditions under which the use of any such appellation may be permitted; and the importation, exportation, manufacture, distribution, sale or offering for sale of products or articles bearing regional appellations inconsistent with such law or order shall be prohibited by Turkey and repressed by the measures prescribed in Article 266.

ARTICLE 268.

If the Turkish Government engages in international trade, it shall not in respect thereof have or be deemed to have any rights, privileges or immunities of sovereignty.

SECTION II.

TREATIES.

ARTICLE 269.

From the coming into force of the present Treaty and subject to the provisions thereof the multilateral treaties, conventions and agreements of an economic or technical character enumerated below and in the subsequent Articles shall alone be applied as between Turkey and those of the Allied Powers party thereto:

(1) Conventions of March 14, 1884, of December 1, 1886, and of March 23, 1887, and Final Protocol of July 7, 1887, regarding the protection of submarine cables.

(2) Convention of July 5, 1890, regarding the publication of customs tariffs and the organisation of an International Union for the publication of customs tariffs.

(3) Arrangement of December 9, 1907, regarding the creation of an International Office of Public Hygiene at Paris.

(4) Convention of June 7, 1995, regarding the creation of an International Agricultural Institute at Rome.

(5) Convention of June 27, 1855, relating to the Turkish Loan.

(6) Convention of July 16, 1863, for the redemption of the toll dues on the Scheldt.

(7) Convention of October 29, 1888, regarding the establishment of a definite arrangement guaranteeing the free use of the Suez Canal.

ARTICLE 270.

From the coming into force of the present Treaty, the High Contracting Parties shall apply the conventions and agreements hereinafter mentioned, in so far as concerns them, on condition that the special stipulations contained in this Article are fulfilled by Turkey.

Postal Conventions:

Conventions and Agreements of the Universal Postal Union concluded at Vienna on July 4, 1891.

Conventions and Agreements of the Postal Union signed at Washington on June 15, 1897.

Conventions and Agreements of the Postal Union signed at Rome on May 26, 1906.

Telegraphic Conventions:

International Telegraphic Conventions signed at St. Petersburg on July 10/22, 1875.

Regulations and Tariffs drawn up by the International Telegraphic Conference, Lisbon, June 11, 1908.

Turkey undertakes not to refuse her consent to the conclusion by new States of the special arrangements referred to in the Conventions and Agreements relating to the Universal Postal Union and to the International Telegraphic Union, to which the said new States have adhered or may adhere.

ARTICLE 271.

From the coming into force of the present Treaty the High Contracting Parties shall apply, in so far as concerns them, the International Radio-Telegraphic Convention of July 5, 1912, on condition that Turkey fulfils the provisional regulations which will be indicated to her by the Allied Powers.

If within five years after the coming into force of the present Treaty a new convention regulating international radio-telegraphic communications should have been concluded to take the place of the Convention of July 5, 1912, this new convention shall bind Turkey, even if Turkey should refuse either to take part in drawing up the convention or to subscribe thereto.

This new convention will likewise replace the provisional regulations in force.

ARTICLE 272.

Turkey undertakes:

(1) Within a period of twelve months from the coming into force of the present Treaty to adhere in the prescribed form to the International Convention of Paris of March 20, 1883, for the protection of industrial property, revised at Washington on June 2, 1911, and the International Convention of Berne of September 9, 1886, for the protection of literary and artistic works, revised at Berlin on November 13, 1908, and the Additional Protocol of Berne of March 20, 1914, relating to the protection of literary and artistic works:

(2) Within the same period, to recognise and protect by effective legislation, in accordance with the principles of the said Conventions, the industrial, literary and artistic property of nationals of the Allied States or of any new State.

In addition, and independently of the obligations mentioned above, Turkey undertakes to continue to assure such recognition and such protection to all the industrial, literary and artistic property of the nationals of each of the Allied States and of any new State to an extent at least as great as upon August 1, 1914, and upon the same conditions.

ARTICLE 273.

Turkey undertakes to adhere to the conventions and arrangements hereinafter mentioned, or to ratify them:

(1) Convention of October 11, 1909, regarding the international circulation of motor cars.

(2) Agreement of May 15, 1886, regarding the sealing of railway trucks subject to customs inspection, and Protocol of May

(3) Convention of December 31, 1913, regarding the unification of commercial statistics.

(4) Convention of September 23, 1910, respecting the unification of certain regulations regarding collisions and salvage at sea.

(5) Convention of December 21, 1904, regarding the exemption of hospital ships from dues and charges in ports.

(6) Conventions of May 18, 1904, and of May 4, 1910, regarding the suppression of the White Slave Traffic.

(7) Convention of May 4, 1910, regarding the suppression of obscene publications.

(8) Sanitary Conventions of January 30, 1892, April 15, 1893, April 3, 1894, March 19, 1897, and December 3, 1903.

(9) Convention of November 29, 1906, regarding the unification of pharmacopseial formulae for potent drugs.

(10) Conventions of November 3, 1881, and April 15, 1889, regarding precautionary measures against phylloxera.

(11) Convention of March 19, 1902, regarding the protection of birds useful to agriculture.

ARTICLE 274.

Each of the Allied Powers, being guided by the general principles or special provisions of the present Treaty, shall notify to Turkey the bilateral treaties or conventions which such Allied Power wishes to revive with Turkey.

The notification referred to in this Article shall be made either directly or through the intermediary of another Power. Receipt thereof shall be acknowledged in writing by Turkey. The date of the revival shall be that of the notification.

The Allied Powers undertake among themselves not to revive with Turkey any conventions or treaties which are not in accordance with the terms of the present Treaty.

The notification shall mention any provisions of the said conventions and treaties which, not being in accordance with the terms of the present Treaty, shall not be considered as revived.

In case of any difference of opinion, the League of Nations will be called on to decide.

A period of six months from the coming into force of the present Treaty is allowed to the Allied Powers within which to make the notification.

Only those bilateral treaties and conventions which have been the subject of such a notification shall be revived between the Allied Powers and Turkey; all the others are and shall remain abrogated.

The above regulations apply to all bilateral treaties or conventions existing between all the Allied Powers and Turkey, even if the said Allied Powers have not been in a state of war with Turkey.

The provisions of this Article do not prejudice the stipulations of Article 261.

ARTICLE 275.

Turkey recognises that all the treaties, conventions or agreements which she has concluded with Germany, Austria, Bulgaria or Hungary since August 1, 1914, until the coming into force of the present Treaty are and remain abrogated by the present Treaty.

ARTICLE 276.

Turkey undertakes to secure to the Allied Powers, and to the officials and nationals of the said Powers, the enjoyment of all the rights and advantages of any kind which she may have granted to Germany, Austria, Bulgaria or Hungary, or to the officials and nationals of these States by treaties, conventions or arrangements concluded before August 1, 1914, so long as those treaties, conventions or arrangements remain in force.

The Allied Powers reserve the right to accept or not the enjoyment of these rights and advantages.

ARTICLE 277.

Turkey recognises that all treaties, conventions or arrangements which she concluded with Russia, or with any State or Government of which the territory previously formed a part of Russia, before August 1, 1914, or after that date until the coming into force of the present Treaty, or with Roumania after August 15, 1916, until the coming into force of the present Treaty, are and remain abrogated.

ARTICLE 278.

Should an Allied Power, Russia, or a State or Government of which the territory formerly constituted a part of Russia, have been forced since August 1, 1914, by reason of military occupation or by any other means or for any other cause, to grant or to allow to be granted by the act of any public authority, concessions, privileges and favours of any kind to Turkey or to a Turkish national, such concessions, privileges and favours are ipso facto annulled by the present Treaty.

No claims or indemnities which may result from this annulment shall be charged against the Allied Powers or the Powers, States, governments or public authorities which are released from their engagements by this Article.

ARTICLE 279.

From the coming into force of the present Treaty, Turkey undertakes to give the Allied Powers and their nationals the benefit ipso facto of the rights and advantages of any kind which she has granted by treaties, conventions or arrangements to non-belligerent States or their nationals since August 1, 1914, until the coming into force of the present Treaty, so long as those treaties, conventions or arrangements remain in force.

ARTICLE 280.

Those of the High Contracting Parties who have not yet signed, or who have signed but not yet ratified, the Opium Convention signed at the Hague on January 23, 1912, agree to bring the said Convention into force, and for this purpose to enact the necessary legislation without delay and in any case within a period of twelve months from the coming into force of the present Treaty.

Furthermore, they agree that ratification of the present Treaty should in the case of Powers which have not yet ratified the Opium Convention be deemed in all respects equivalent to the ratification of that Convention and to the signature of the Special Protocol which was opened at The Hague in accordance with the resolutions adopted by the Third Opium Conference in 1914 for bringing the said Convention into force.

For this purpose the Government of the French Republic will communicate to the Government of the Netherlands a certified copy of the Protocol of the deposit of ratifications of the present Treaty, and will invite the Government of the Netherlands to accept and deposit the said certified copy as if it were a deposit of ratifications of the Opium Convention and a signature of the Additional Protocol of 1914.

SECTION III .

INDUSTRIAL PROPERTY.

ARTICLE 281.

Subject to the stipulations of the present Treaty, rights of industrial, literary and artistic property, as such property is defined by the International Conventions of Paris and of Berne mentioned in Article 272, shall be re-established or restored, as from the coming into force of the present Treaty, in the territories of the High Contracting Parties, in favour of the persons entitled to the benefit of them at the moment when the state of war commenced, or their legal representatives. Equally, rights which, except for the war, would have been acquired during the war in consequence of an application made for the protection of industrial property, or the publication of a literary or artistic work, shall be recognised and established in favour of those persons who would have been entitled thereto, from the coming into force of the present Treaty.

Nevertheless, all acts done by virtue of the special measures taken during the war under legislative, executive or administrative authority of any Allied Power in regard to the rights of Turkish nationals in industrial, literary or artistic property shall remain in force and shall continue to maintain their full effect.

No claim shall be made or action brought by Turkey or Turkish nationals in respect of the use during the war by the Government of any Allied Power, or by any person acting on behalf or with the assent of such Government, of any rights in industrial, literary or artistic property, nor in respect of the sale, offering for sale or use of any products, articles or apparatus whatsoever to which such rights applied.

Unless the legislation of any one of the Allied Powers in force at the moment of the signature of the present Treaty otherwise directs, sums due or paid in virtue of any act or operation resulting from the execution of the special measures mentioned in the second paragraph of this Article shall be dealt with in the same way as other sums due to Turkish nationals are directed to be dealt with by the present Treaty; and sums produced by any special measures taken by the Turkish Government in respect of rights in industrial, literary or artistic property belonging to the nationals of the Allied Powers shall be considered and treated in the same way as other debts due from Turkish nationals.

Each of the Allied Powers reserves to itself the right to impose such limitations, conditions or restrictions on rights of industrial literary or artistic property (with the exception of trade-marks) acquired before or during the war, or which may be subsequently acquired in accordance with its legislation, by Turkish nationals whether by granting licences, or by the working, or by preserving control over their exploitation, or in any other way, as may be considered necessary for national defence, or in the public interest or for assuring the fair treatment by Turkey of the rights of industrial, literary and artistic property held in Turkish territory by its nationals, or for securing the due fulfilment of all the obligations undertaken by Turkey in the present Treaty. As regards rights of industrial, literary and artistic property acquired after the coming into force of the present Treaty, the right so reserved by the Allied Powers shall only be exercised in cases where these limitations, conditions or restrictions may be considered necessary for national defence or in the public interest.

In the event of the application of the provisions of the preceding paragraph by any Allied Power, there shall be paid reasonable indemnities or royalties, which shall be dealt with in the same way as other sums due to Turkish nationals are directed to be dealt with by the present Treaty.

Each of the Allied Powers reserves the right to treat as void and of no effect any transfer in whole or in part of or other dealing with rights of or in respect of industrial, literary or artistic property effected after August 1, 1914, or in the future, which would have the result of defeating the objects of the provisions of this Article.

The provisions of this Article shall not apply to rights in industrial, literary or artistic property which have been dealt with in the liquidation of businesses or companies under war legislation by the Allied Powers, or which may be so dealt with by virtue of Article 289.

ARTICLE 282

A minimum of one year after the coming into force of the present Treaty shall be accorded to the nationals of the High Contracting Parties, without extension fees or other penalty, in order to enable such persons to accomplish any act, fulfil any formality, pay any fees, and generally satisfy any obligation prescribed by the laws or regulations of the respective States relating to the obtaining, preserving or opposing rights to, or in respect of, industrial property either acquired before August 1, 1914, or which, except for the war, might have been acquired since that date as a result of an application made before the war or during its continuance.

All rights in, or in respect of, such property which may have lapsed by reason of any failure to accomplish any act, fulfil any formality, or make any payment shall revive, but subject in the case of patents and designs to the imposition of such conditions as each Allied Power may deem reasonably necessary for the protection of persons who have manufactured or made use of the subject-matter of such property while the rights had lapsed. Furhter, where rights to patents or designs belonging to Turkish nationals are revived under this Article, they shall be sub]ect in respect of the grant of licences to the same provisions as would have been applicable to them during the war, as well as to all the provisions of the present Treaty.

The period from August 1, 1914, until the coming into force of the present Treaty shall be excluded in considering the time within which a patent should be worked or a trade-mark or design used, and it is further agreed that no patent, registered trade-mark or design in force on August 1, 1914, shall be subject to revocation or cancellation by reason only of the failure to work such patent or use such trade-mark or design for two years after the coming into force of the present Treaty.

ARTICLE 283.

No action shall be brought and no claim made by persons residing or carrying on business within the territories of Turkey on the one part and of the Allied Powers on the other, or persons who are nationals of such Powers respectively, or by any one deriving title during the war from such persons, by reason of any action which has taken place within the territory of the other party between the date of the existence of a state of war and that of the coming into force of the present Treaty, which might constitute an infringement of the rights of industrial property or rights of literary and artistic property, either existing at any time during the war or revived under the provisions of Article 282.

Equally, no action for infringement of industrial, literary or artistic property rights by such persons shall at any time be permissible in respect of the sale or offering for sale for a period of one year after the signature of the present Treaty in the territories of the Allied Powers on the one hand, or Turkey on the other, of products or articles manufactured, or of literary or artistic works published, during the period between the existence of a state of war and the signature of the present Treaty, or against those who have acquired and continue to use them. It is understood, nevertheless, that this provision shall not apply when the possessor of the rights was domiciled or had an industrial or commercial establishment in the districts occupied by Turkey during the war.

ARTICLE 284.

Licences in respect of industrial, literary or artistic property concluded before the war between nationals of the Allied Powers or persons residing in their territory or carrying on business therein on the one part, and Turkish nationals on the other part shall be considered as cancelled as from the date of the existence of a state of war between Turkey and the Allied Power. But in any case the former beneficiary of a contract of this kind shall have the right, within a period of six months after the coming into force of the present Treaty, to demand from the proprietor of the rights the grant of a new licence, the conditions of which in default of agreement between the parties, shall be fixed by the duly qualified tribunal in the country under whose legislation the rights had been acquired, except in the case of licences held in respect of rights acquired under Turkish law. In such cases the conditions shall be fixed by the Arbitral Commission referred to in Article 287. The tribunal or the Commission may, if necessary, fix also the amount which it may deem just should be paid by reason of the use of the rights during the war.

No licence in respect of industrial, literary or artistic property granted under the special war legislation of any Allied Power shall be affected by the continued existence of any licence entered into before the war, but shall remain valid and of full effect, and a licence so granted to the former beneficiary of a licence entered into before the war shall be considered as substituted for such licence.

Where sums have been paid during the war by virtue of a licence or agreement concluded before the war in respect of rights of industrial property or for the reproduction or the representation of literary, dramatic or artistic works, these sums shall be dealt with in the same manner as other debts or credits of Turkish nationals as provided by the present Treaty.

ARTICLE 285.

The inhabitants of territories detached from Turkey under the present Treaty shall, notwithstanding this transfer and the change of nationality consequent thereon, continue to enjoy in Turkey all the rights in industrial, literary and artistic property to which they were entitled under Turkish legislation at the time of the transfer.

Rights of industrial, literary and artistic property which are in force in the territories detached from Turkey under the present Treaty at the moment of the transfer, or which will be re-established or restored in accordance with the provisions of Article 281, shall be recognised by the State to which the said territory is transferred, and shall remain in force in that territory for the same period of time given them under the Turkish law.

ARTICLE 286.

A special convention shall determine all questions relative to the records, registers and copies in connection with the protection of industrial, literary or artistic property, and fix their eventual transmission or communication by the Turkish offices to the offices of the States in favour of which territory is detached from Turkey.

SECTION IV.

PROPERTY, RIGHTS AND INTERESTS.

ARTICLE 287.

The property, rights and interests situated in territory which was under Turkish sovereignty on August 1, 1914, and belonging to nationals of Allied Powers who were not during the war Turkish nationals, or of companies controlled by them, shall be immediately restored to their owners free of all taxes levied by or under the authority of the Turkish Government or authorities, except such as would have been leviable in accordance with the capitulations. Where property has been confiscated during the war or sequestrated in such a way that its owners enjoyed no benefit therefrom, it shall be restored free of all taxes whatever.

The Turkish Government shall take such steps as may be within its power to restore the owner to the possession of his property free from all encumbrances or burdens with which it may have been charged without his assent. It shall indemnify all third parties injured by the restitution.

If the restitution provided for in this Article cannot be effected, or if the property, rights or interests have been damaged or injured, whether they have been seized or not, the owner shall be entitled to compensation. Claims made in this respect by the nationals of Allied Powers or by companies controlled by them shall be investigated and the total of the compensation shall be determined by an Arbitral Commission to be appointed by the Council of the League of Nations. This compensation shall be borne by the Turkish Government and may be charged upon the property of Turkish nationals within the territory or under the control of the claimant's State. So far as it is not met from this source it shall be satisfied out of the annuity referred to in Article 236 (ii), Part VIII. (Financial Clauses) of the present Treaty.

The above provision shall not impose any obligation on the Turkish Government to pay compensation for damage to property, rights and interests effected since October 30, 1918, in territory in the effective occupation of the Allied Powers and detached from Turkey by the present Treaty. Compensation for any actual damage to such property, rights and interests inflicted by the occupying authorities since the above date shall be a charge on the Allied authorities responsible.

ARTICLE 288.

The property, rights and interests in Turkey of former Turkish nationals who acquire ipso facto the nationality of an Allied Power or of a new State in accordance with the provisions of the present Treaty, or any further Treaty regulating the disposal of territories detached from Turkey, shall be restored to them in their actual condition.

ARTICLE 289.

Subject to any contrary stipulations which may be provided in the present Treaty, the Allied Powers reserve the right to retain and liquidate all property, rights and interests of Turkish nationals, or companies controlled by them, within their territories, colonies, possessions and protectorates, excluding any territory under Turkish sovereignty on October 17, 1912.

The liquidation shall be carried out in accordance with the laws of the Allied Power concerned, and the Turkish owner shall not be able to dispose of such property, rights, or interests, or to subject them to any charge, without the consent of that Power.

ARTICLE 290.

Turkish nationals who acquire ipso facto the nationality of an Allied Power or of a new State in accordance with the provisions of the present Treaty, or any further Treaty regulating the disposal of territories detached from Turkey, will not be considered as Turkish nationals within the meaning of the fifth paragraph of Article 281, Articles 282, 284, the third paragraph of Article 287, Articles 289, 291, 292, 293, 301, 302, and 308.

ARTICLE 291.

All property, rights and interests of Turkish nationals within the territory of any Allied Power, excluding any territory under Turkish sovereignty on October 17, 1912, and the net proceeds of their sale, liquidation or other dealing therewith may be charged by that Allied Power with payment of amounts due in respect of claims by the nationals of that Allied Power under Article 287 or in respect of debts owing to them by Turkish nationals.

The proceeds of the liquidation of such property, rights and interests not used as provided in Article 289 and the first paragraph of this Article shall be paid to the Financial Commission to be employed in accordance with the provisions of Article 236 (ii), Part VIII (Financial Clauses) of the present Treaty.

ARTICLE 292.

The Turkish Government undertakes to compensate its nationals in respect of the sale or retention of their property, rights or interests in Allied countries.

ARTICLE 293

The Governments of an Allied Power or new State exercising authority in territory detached from Turkey in accordance with the present Treaty or any other Treaty concluded since October 17, 1912, may liquidate the property, rights and interests of Turkish companies or companies controlled by Turkish nationals in such territory; the proceeds of the liquidation shall be paid direct to the company.

This Article shall not apply to companies in which Allied nationals, including those of the territories placed under mandate, had on August 1, 1914, a preponderant interest.

The provisions of the first paragraph of this Article relating to the payment of the proceeds of liquidation do not apply in the case of railway undertakings where the owner is a Turkish company in which the majority of the capital or the control is held by German, Austrian, Hungarian or Bulgarian nationals either directly or through their interests in a company controlled by them, or was so held on August 1, 1914. In such case the proceeds of the liquidation shall be paid to the Financial Commission.

ARTICLE 294.

The Turkish Government shall, on the demand of the Principal Allied Powers, take over the undertaking, property, rights and interests of any Turkish company holding a railway concession in Turkish territory as it results from the present Treaty, and shall transfer in accordance with the advice of the Financial Commission the said undertaking, property, rights and interests, together with any interest which it may hold in the line or in the undertaking, at a price to be fixed by an arbitrator nominated by the Council of the League of Nations. The amount of this price shall be paid to the Financial Commission and shall be distributed by it, together with any amount received in accordance with Article 293, among the persons directly or indirectly interested in the company, the proportion attributable to the interests of nationals of Germany, Austria, Hungary or Bulgaria being paid to the Reparation Commission established under the Treaties of Peace with Germany, Austria, Hungary and Bulgaria respectively; the proportion of the price attributable to the Turkish Government shall be retained by the Financial Commission for the purposes referred to in Article 236, Part Vlll (Financial Clauses) of the present Treaty.

ARTICLE 295.

Until the expiration of a period of six months from the coming into force of the present Treaty, the Turkish Government will effectively prohibit all dealings with the property, rights and interests within its territory which belong, at the date of the coming into force of the present Treaty, to Germany, Austria, Hungary, Bulgaria or their nationals, except in so far as may be necessary for the carrying into effect of the provisions of Article 260 of the Treaty of Peace with Germany or any corresponding provisions in the Treaties of Peace with Austria, Hungary or Bulgaria.

Subject to any special stipulations in the present Treaty affecting property of the said States, the Turkish Government will proceed to liquidate any of the property, rights or interests above referred to which may be notified to it within the said period of six months by the Principal Allied Powers. The said liquidation shall be effected under the direction of the said Powers and in the manner indicated by them. The prohibition of dealings with such property shall be maintained until the liquidation is completed.

The proceeds of liquidation shall be paid direct to the owners, except where the property so liquidated belongs to the German, Austrian, Hungarian or Bulgarian States, in which event the proceeds shall be handed over to the Reparation Commission established under the Treaty of Peace with the State to which the property belonged.

ARTICLE 296.

The Governments exercising authority in territory detached from Turkey in accordance with the present Treaty may liquidate any property, rights and interests within such territory which belong at the date of the coming into force of the present Treaty to Germany, Austria, Hungary, Bulgaria or their nationals, unless they have been dealt with under the provisions of Article 260 of the Treaty of Peace with Germany or any corresponding provisions in the Treaties of Peace with Austria, Hungary or Bulgaria.

The proceeds of liquidation shall be disposed of in the manner provided in Article 295.

ARTICLE 297.

If on the application of the owner the Arbitral Commission provided for in Article 287 is satisfied that the conditions of sale of any property liquidated in virtue of Articles 293, 295 or 296, or measures taken outside its general legislation by the Government exercising authority in the territory in which the property was situated, were unfairly prejudicial to the price obtained, the Commission shall have discretion to award to the owner equitable compensation to be paid by that Government.

ARTICLE 298.

The validity of vesting orders and of orders for the winding-up of businesses or companies and of any other orders, directions decisions or instructions of any court or any department of the Government of any of the Allied Powers made or given, or purporting to be made or given, in pursuance of war legislation with regard to enemy property, rights and interests in their territories is confirmed.

The interests of all persons shall be regarded as having been effectively dealt with by any order, direction, decision or instruction dealing with such property in which they may be interested, whether or not such interests are specifically mentioned in the order, direction, decision or instruction

No question shall be raised as to the regularity of a transfer of any property, rights or interests dealt with in pursuance of any such order, direction, decision or instruction.

Every action taken with regard to any property, business or comapny in the territories of the Allied Powers, whether as regards its investigation, sequestration, compulsory administration, use, requisition, supervision or winding-up, the sale or management of property, rights or interests, the collection or discharge of debts, the payment of costs, charges or expenses, or any other matter whatsoever in pursuance of orders, directions, decisions or instructions of any court or of any department of the Government of any of the Allied Powers, made or given, or purporting to be made or given, in pursuance of war legislation with regard to enemy property, rights or interests, is confirmed.

ARTICLE 299.

The validity of any measures taken between October 30, 1918, and the coming into force of the present Treaty by or under the authority of one or more of the Allied Powers in regard to the property, rights and interests in Turkish territory of Germany, Austria, Hungary or Bulgaria or their nationals is confirmed.

Any balance remaining under the control of the Allied Powers as the result of such measures shall be disposed of in the manner provided in the last paragraph of Article 295.

ARTICLE 300.

No claim or action shall be made or brought against any Allied Power or against any person acting on behalf of or under the direction of any legal authority or department of the Government of such a Power by Turkey or by or on behalf of any person wherever resident who on August 1, 1914, was a Turkish national, or who became such after that date, in respect of any act or omission with regard to the property, rights or interests of Turkish nationals during the war or in preparation for the war.

Similarly, no claim or action shall be made or brought against any person in respect of any act or omission under or in accordance with the exceptional war measures, laws or regulations of any Allied Power.

ARTICLE 301.

The Turkish Government, if required, will, within six months from the coming into force of the present Treaty, deliver to each Allied Power any securities, certificates, deeds or documents of title held by its nationals and relating to property, rights or interests which are subject to liquidation in accordance with the provisions of the present Treaty, including any shares, stock, debentures, debenture stock or other obligations of any company incorporated in accordance with the laws of that Power.

The Turkish Government will, at any time on demand of any Allied Power concerned, furnish such information as may be required with regard to such property, rights and interests, or with regard to any transactions concerning such property, rights or interests since July 1, 1914.

ARTICLE 302.

Debts, other than the Ottoman Public Debt provided for in Article 236 and Annex I, Part VIII (Financial Clauses) of the present Treaty, between the Turkish Government or its nationals resident in Turkish territory on the coming into force of the present Treaty (with the exception of Turkish companies controlled by Allied groups or nationals) on the one hand, and the Governments of the Allied Powers or their nationals who were not on August 1, 1914, Turkish nationals or (except in the case of foreign officials in the Turkish service, in regard to their salaries, pensions or official remuneration) resident or carrying on business in Turkish territory, on the other hand, which were payable before the war, or became payable during the war and arose out of transactions or contracts of which the total or partial execution was suspended on account of the war, shall be paid or credited in the currency of such one of the Allied Powers, their colonies or protectorates, or the British Dominions or India, as may be concerned. If a debt was payable in some other currency the conversion shall be effected at the pre-war rate of exchange.

For the purpose of this provision the pre-war rate of exchange shall be defined as the average cable transfer rate prevailing in the Allied country concerned during the month immediately preceding the outbreak of war between the said country and Turkey.

If a contract provides for a fixed rate of exchange governing the conversion of the currency in which the debt is stated into the currency of the Allied Power concerned, then the above provisions concerning the rate of exchange shall not apply.

The proceeds of liquidation of enemy property, rights and interests and the cash assets of enemies, referred to in this Section, shall also be accounted for in the currency and at the rate of exchange provided for above.

The provisions of this Article regarding the rate of exchange shall not affect debts due to or from persons resident in territories detached from Turkey in accordance with the present Treaty.

ARTICLE 303.

The provisions of Articles 287 to 302 apply to industrial literary and artistic property which has been or may be dealt with in the liquidation of property, rights, interests, companies or businesses under war legislation by the Allied Powers, or in accordance with the stipulations of the present Treaty.

SECTION V.

CONTRACTS, PRESCRIPTIONS, JUDGMENTS.

ARTICLE 304.

Subject to the exceptions and special rules with regard to particular contracts or classes of contracts contained in the Annex hereto, any contract concluded between enemies will be maintained or dissolved according to the law of the Allied Power of which the party who was not a Turkish subject on August 1, 1914, is a national, and on the conditions prescribed by that law.

ARTICLE 305.

All periods of prescription or limitation of right of action, whether they began to run before or after the outbreak of war, shall be treated in the territory of the High Contracting Parties, so far as regards relations between enemies, as having been suspended from October 29, 1914, till the coming into force of the present Treaty. They shall begin to run again at earliest three months after the coming into force of the present Treaty. This provision shall apply to the period prescribed for the presentation of interest or dividend coupons or for the presentation for repayment of securities drawn for repayment or repayable on any other ground.

Having regard to the provisions of the law of Japan, neither the present Article nor Article 304 nor the Annex hereto shall apply to contracts made between Japanese nationals and Turkish nationals.

ARTICLE 306.

As between enemies no negotiable instrument made before the war shall be deemed to have become invalid by reason only of failure within the required time to present the instrument for acceptance or payment, or to give notice of non-acceptance or non-payment to drawers or endorsers, or to protest the instrument, nor by reason of failure to complete any formality during the war.

Where the period within which a negotiable instrument should have been presented for acceptance or for payment, or within which notice of non-acceptance or non-payment should have been given to the drawer or endorser, or within which the instrument should have been protested, has elapsed during the war, and the party who should have presented or protested the instrument or have given notice of non-acceptance or non-payment has failed to do so during the war, a period of not less than three months from the coming into force of the present Treaty shall be allowed within which presentation, notice of non-acceptance or non-payment or protest may be made.

ARTICLE 307.

Judgments given or measures of execution ordered during the war by any Turkish judicial or administrative authority against or prejudicially affecting the interests of a person who was at the time a national of an Allied Power or against or affecting the interests of a company in which such an Allied national was interested shall be subject to revision, on the application of that national, by the Arbitral Commission provided for in Article 287. Where such a course is equitable and possible the parties shall be replaced in the situation which they occupied before the judgment was given or the measure of execution ordered by the Turkish authority. Where that is not possible, the national of an allied power who has suffered prejudice by the judgment or measure of execution shall be entitled to recover such compensation as the Arbitral Commission may consider equitable, such compensation to be paid by the Turkish Government.

Where a contract has been dissolved by reason either of failure on the part of either party to carry out its provisions or of the exercise of a right stipulated in the contract itself the party prejudiced may apply to the Arbitral Commission. This Commission may grant compensation to the prejudiced party, or may order the restoration of any rights in Turkey which have been prejudiced by the dissolution wherever, having regard to the circumstances of the case, such restoration is equitable and possible.

Turkey shall compensate any third party who may be prejudiced by any restitution or restoration effected in accordance with the provisions of this Article.

ARTICLE 308.

All questions relating to contracts concluded before the coming into force of the present Treaty between persons who were or have become nationals of the Allied Powers or of the new States whose territory is detached from Turkey and Turkish nationals shall be decided by the national Courts or the consular Courts of the Allied Power or new State of which one of the parties to the contract is a national, to the exclusion of the Turkish Courts.

ARTICLE 309.

Judgments given by the national or consular Courts of an Allied Power or new State whose territory is detached from Turkey, or orders made by the Arbitral Commission provided for in Article 287, in all cases which, under the present Treaty, they are competent to decide, shall be recognised in Turkey as final, and shall be enforced without it being necessary to have them declared executory

ANNEX

I. General Provisions.
1.

Within the meaning of Articles 304 to 306 and of the provisions of this Annex, the parties to a contract shall be regarded as enemies when trading between them became hnpossible in fact, or was prohibited by or otherwise became unlawful under laws, orders or regulations to which one of those parties was subject. They shall be deemed to have become enemies from the date when such trading became impossible in fact or was prohibited or otherwise became unlawful.

2.
The following classes of contracts remain in force subject to the application of domestic laws, orders or regulations made during the war by the Allied Powers and subject to the terms of the contracts:

(a) Contracts having for their object the transfer of estates or of real or personal property, where the property therein had passed or the object had been delivered before the parties became enemies;

(b) Leases and agreements for leases of land and houses;

(c) Contracts of mortgage, pledge, or lien;

(d) Contracts between individuals or companies and the State, provinces, municipalities, or other similar juridical persons charged with administrative functions, and concessions granted by the State, provinces, municipalities, or other similar juridical persons charged with administrative functions, subject however to any special provisions relating to concessions laid down in the present Treaty.

When the execution of the contracts thus kept alive would, owing to the alteration of economic conditions, cause one of the parties substantial prejudice, the Arbitral Commission provided for in Article 287 shall be empowered, on the request of the prejudiced party, to grant to him equitable compensation by way of reparation.

II. Provisions Relating to Certain Classes of Contracts.

Stock Exchange and Commercial Exchange Contracts.

3
(a) Rules made during the war by any recognised Exchange or Commercial Association providing for the closure of contracts entered into before the war by an enemy are confirmed by the High Contracting Parties, as also any action taken thereunder provided:

(1) That the contract was expressed to be made subject to the rules of the Exchange or Association in question;

(2) That the rules applied to all persons concerned;

(3) That the conditions attaching to the closure were fair and reasonable.

(b) The closure of contracts relating to cotton futures which were closed as on July 31, 1914, under the decision of the Liverpool Cotton Association, is also confirmed.

Security.

4
The sale of a security held for an unpaid debt owing by an enemy shall be deemed to have been valid irrespective of notice to the owner if the creditor acted in good faith and with reasonable care and prudence, and no claim by the debtor on the ground of such sale shall be admitted.

Negotiable Instruments.
5
If a person has either before or during the war become liable upon a negotiable instrument in accordance with an undertaking given to him by a person who has subsequently become an enemy, the latter shall remain liable to indemnify the former in respect of his liability, notwithstanding the outbreak of war.

III. Contracts of Insurance.
6.
The provisions of the following paragraphs shall apply only to insurance and reinsurance contracts between Turkish nationals and nationals of the Allied Powers in the case of which trading with Turkey has been prohibited. These provisions shall not apply to contracts between Turkish nationals and companies or individuals, even if nationals of the Allied Powers, established in territory detached from Turkey under the present Treaty.

In cases where the provisions of the following paragraphs do not apply, contracts of insurance and reinsurance shall be subject to the provisions of Article 304.

Fire Insurance.
7
Contracts for the insurance of property against fire entered into by a person interested in such property with another person who subsequently became an enemy shall not be deemed to have been dissolved by the outbreak of war, or by the fact of the person becoming an enemy, or on account of the failure during the war and for a period of three months thereafter to perform his obligations under the contract, but they shall be dissolved at the date when the annual premium becomes payable for the first time after the expiration of a period of three months after the coming into force of the present Treaty.

A settlement shall be effected of unpaid premiums which became due during the war, or of claims for losses which occurred during the war.

8.
Where by administrative or legislative action an insurance against fire effected before the war has been transferred during the war from the original to another insurer, the transfer will be recognised and the liability of the original insurer will be deemed to have ceased as from the date of the transfer. The original insurer will, however, be entitled to receive on demand full information as to the terms of the transfer, and if it should appear that these terms were not equitable, they shall be amended so far as may be necessary to render them equitable.

Furthermore, the insured shall, subject to the concurrence of the original insurer, be entitled to retransfer the contract to the original insurer as from the date of the demand.

Life Insurance.
9
Contracts of life insurance entered into between an insurer and a person who subsequently became an enemy shall not be deemed to have been dissolved by the outbreak of war or by the fact of the person becoming an enemy.

Any sum which during the war became due upon a contract deemed not to have been dissolved under the preceding provision shall be recoverable after the war with the addition of interest at 5 per cent. per annum from the date of its becoming due up to the day of payment.

Where the contract has lapsed during the war owing to non-payment of premiums, or has become void from breach of the conditions of the contract the assured or his representatives or the persons entitled shall have the right at any time within twelve months of the coming into force of the present Treaty to claim from the insurer the surrender value of the policy at the date of its lapse or avoidance.

10.
Where contracts of life insurance have been entered into by a local branch of an insurance company established in a country which subsequently became an enemy country, the contract shall, in the absence of any stipulation to the contrary in the contract itself, be governed by the local law, but the insurer shall be entitled to demand from the insured or his representatives the refund of sums paid or claims made or enforced under measures taken during the war, if the making or enforcement of such claims was not in accordance with the terms of the contract itself or was not consistent with the laws or treaties existing at the time when it was entered into.

11.
In any case where by the law applicable to the contract the insurer remains bound by the contract, notwithstanding the non-payment of premiums, until notice is given to the insured of the termination of the contract, he shall be entitled where the giving of such notice was prevented by the war to recover the unpaid premiums with interest at 5 per cent. per annum from the insured.

12.
Insurance contracts shall be considered as contracts of life assurance for the purpose of paragraphs 9 to 11 when they depend on the probabilities of human life combined with the rate of interest for the calculation of the reciprocal engagements between the two parties.

Marine Insurance.
13.
Contracts of marine insurance, including time policies and voyage policies, entered into between an insurer and a person who subsequently became an enemy, shall be deemed to have been dissolved on his becoming an enemy, except in cases where the risk undertaken in the contract had attached before he became an enemy.

Where the risk had not attached, money paid by way of premium or otherwise shall be recoverable from the insurer.

Where the risk had attached, effect shall be given to the contract, notwithstanding the party becoming an enemy, and sums due under the contract either by way of premiums or in respect of losses shall be recoverable after the coming into force of the present Treaty.

In the event of any agreement being come to for the payment, of interest on sums due before the war to or by the nationals of States which have been at war and recovered after the war, such interest shall in the case of losses recoverable under contracts of marine insurance run from the expiration of a period of one year from the date of the loss.

14.
No contract of marine insurance with an insured person who subsequently became an enemy shall be deemed to cover losses due to belligerent action by the Power of which the insurer was a national or by the allies of such Power.

15.
Where it is shown that a person who had before the war entered into a contract of marine insurance with an insurer who subsequently became an enemy entered after the outbreak of war into a new contract covering the same risk with an insurer who was not an enemy, the new contract shall be deemed to be subtituted for theoriginal contract as from the date when it was entered into, and the premiums payable shall be adjusted on the basis of the original insurer having remained liable on the contract only up till the time when the new contract was entered into.

Other Insurances.
16
Contracts of insurance entered before the war between an insurer and a person who subsequently became an enemy, other than contracts dealt with in paragraph 7 to 15, shall be treated in all respects on the same footing as contracts of fire insurance between the same persons would be dealt with under the said paragraphs.

Reinsurance.
17.
All treatise of reinsurance with a person who became an enemy shall be regarded as having been abrogated by the person becoming an enemy, but without prejudice in the case of life or marine risks which had attached before the war to the right to recover payment after the war for sums due in respect of such risks.

Nevertheless, if, owing to invasion, it has been impossible for the reinsured to find another reinsurer, the treaty shall remain in force until three months after the coming into force of the present Treaty.

When a reinsurance treaty becomes void under this paragraph there shall be an adjustment of accounts between the parties in respect both of premiums paid and payable and of liabilities for losses in respect of life or marine risk which had attached before the war. In the case of risks other than those mentioned in paragraphs 9 to 15, the adjustment of accounts shall be made as at the date of the parties becoming enemies, without regard to claims for losses which may have occurred since that date.

18.
The provisions of paragraph 17 will extend equally to reinsura.nces existing at the date of the parties becoming enemies of particular risks undertaken by the insurer in a contract of insurance against any risk other than life or marine risks.

19.
Reinsurance of life risks effected by particular contracts and not under any general treaty remain in force.

20.
In case of a reinsurance effected before the war of a contract of marine insurance, the cession of a risk which had been ceded to the reinsurer shall, if it had attached before the outbreak of war, remain valid and effect be given to the contract, notwithstanding the outbreak of war; sums due under the contract of reinsurance in respect either of premiums or of losses shall be recoverable after the war.

21.
The provisions of paragraphs 14 and 15 and the last part of paragraph 13 shall apply to contracts for the reinsurance of marine risks.

SECTION VI.

COMPANIES AND CONCESSIONS.

ARTICLE 310.

In application of the provisions of Article 287, Allied nationals and companies controlled by Allied groups or nationals holding concessions granted before October 29, 1914, by the Turkish government or by any Turkish local authority in territory remaining Turkish under the present Treaty, or holding concessions which may be assigned to them by the Financial Commission in virtue of Article 294, shall be replaced by such Government or authorities in complete possession of the rights resulting from the original concession contract and any subsequent agreements prior to October 29, 1914. The Turkish Government undertakes to adapt such contracts or agreements to the new economic conditions, and to extend them for a period equal to the interval between October 29, 1914, and the coming into force of the present Treaty. In cases of dispute with the Turkish Government the matter shall be submitted to the Arbitral Commission referred to in Article 287.

All legislative or other provisions, all concessions and all agreements subsequent to October 29, 1914, and prejudicial to the rights referred to in the preceding paragraph shall be declared null and void by the Turkish Government.

The concessionnaires referred to in this Article may, if the Financial Commission approves, abandon the whole or part of the compensation accorded to them by the Arbitral Commission under the conditions laid down in Article 287 for damage or loss suffered during the war, in exchange for contractual compensation.

ARTICLE 311 .

In territories detached from Turkey to be placed under the authority or tutelage of one of the Principal Allied Powers, Allied nationals and companies controlled by Allied groups or nationals holding concessions granted before October 29, 1914, by the Turkish Government or by any Turkish local authority shall continue in complete enjoyment of their duly acquired rights and the Power concerned shall maintain the guarantees granted or shall assign equivalent ones.

Nevertheless, any such Power, if it considers that the maintenance of any of these concessions would be contrary to the public interest, shall be entitled, within a period of six months from the date on which the territory is placed under its authority or tutelage, to buy out such concession or to propose modifications therein; in that event it shall be bound to pay to the concessionnaire equitable compensation in accordance with the following provisions.

If the parties cannot agree on the amount of such compensation, it will be determined by Arbitral Tribunals composed of three members, one designated by the State of which the concessionnaire or the holders of the majority of the capital in the case of a company is or are nationals, one by the Government exerising authority in the territory in question, and the third designated, failing agreement between the parties, by the Council of the League of Nations.

The Tribunal shall take into account, from both the legal and equitable standpoints, all relevant matters, on the basis of the maintenance of the contract adapted as indicated in the following paragraph.

The holder of a concession which is maintained in force shall have the right, within a period of six months after the expiration of the period specified in the second paragraph of this Article, to demand the adaptation of his contract to the new economic conditions, and in the absence of agreement direct with the Governrnent concerned the decision shall be referred to the Arbitral Commission provided for above.

ARTICLE 312.

In all territories detached from Turkey, either as a result of the Balkan Wars in 1913, or under the present Treaty, other than those referred to in Article 311, the State which definitively acquires the territory shall ipso facto succeed to the duties and charges of Turkey towards concessionnaires and holders of contracts, referred to in the first paragraph of Article 311, and shall maintain the guarantees granted or assign equivalent ones.

This succession shall take effect, in the case of each acquiring State, as from the coming into force of the Treaty under which the cession was effected. Such State shall take all necessary steps to ensure that the concessions may be worked and the carrying out of the contracts proceeded with without interruption.

Nevertheless, as from the coming into force of the present Treaty, negotiations may be entered into between the acquiring States and the holders of contracts or concessions, with a view to a mutual agreement for bringing such concessions and contracts into conformity with the legislation of such States and the new economic conditions. Should agreement not have been reached within six months, the State or the holders of the concessions or contracts may submit the dispute to an Arbitral Tribunal constituted as provided in Article 311.

ARTICLE 313.

The application of Articles 311 and 312 shall not give rise to any award of compensation in respect of the right to issue paper money.

ARTICLE 314.

The Allied Powers shall not be bound to recognise in territory detached from Turkey the validity of the grant of any concession granted by the Turkish Government or by Turkish local authorities after October 29, 1914, nor the validity of the transfer of any concession effected after that date. Any such concessions and transfers may be declared null and void, and their cancellation shall give rise to no compensation.

ARTICLE 315.

All concessions or rights in concessions granted by the Turkish Government since October 30, 1918, and all such concessions or rights granted since August 1, 1914, in favour of German, Austrian, Hungarian, Bulgarian or Turkish nationals or companies controlled by them, until the date of the coming into force of the present Treaty, are hereby annulled.

ARTICLE 316.

(a) Any company incorporated in accordance with Turkish law and operating in Turkey which is now or shall hereafter be controlled by Allied nationals shall have the right, within five years from the coming into force of the present Treaty, to transfer its property, rights and interests to another company incorporated in accordance with the law of one of the Allied Powers whose nationals control it; and the company to which the property, rights and interests are transferred shall continue to enjoy the same rights and privileges as the other company enjoyed under the laws of Turkey and the terms of the present Treaty, subject to meeting obligations previously incurred.

The Turkish Government undertakes to modify its legislation so as to allow companies of Allied nationality to hold concessions or contracts in Turkey.

(b) Any company incorporated in accordance with Turkish law and operating in territory detached from Turkey, which is now or hereafter shall be controlled by Allied nationals, shall, in the same way and within the same period, have the right to transfer its property, rights and interests to another company incorporated in accordance with the law either of the State exercising authority in the territory in question or of one of the Allied Powers whose nationals control it. The company to which the property, rights and interests are transferred shall continue to enjoy the same rights and privileges as the other company enjoyed, including those conferred on it by the present Treaty.

(c) In Turkey companies of Allied nationality to which the property, rights and interests of Turkish companies shall have been transferred in virtue of paragraph (a) of this Article, and, in territories detached from Turkey, companies of Turkish nationality controlled by Allied groups or nationals and companies of nationality other than that of the State exercising authority in the territory in question to which the property, rights and interests of Turkish companies shall have been transferred in virtue of paragraph (b) of this Article, shall not be subjected to legislative or other provisions or to taxes, imposts or charges more onerous than those applied in Turkey to similar companies possessing Turkish nationality, and in territory detached from Turkey to those possessing the nationality of the State exercising authority therein.

(d) The companies to which the property, rights and interests of Turkish companies are transferred in virtue of paragraphs (a) and (b) of this Article shall not be subjected to any special tax on account of this transfer.

SECTION VII.

GENERAL PROVISION.

ARTICLE 317.

The term "nationals of the Allied Powers," wherever used in this Part or in Part VIII (Financial Clauses), covers:

(I) All nationals, including companies and associations, of an Allied Power or of a State or territory under the protectorate of an Allied Power;

(2) The protected persons of the Allied Powers whose certificate of protection was granted before August 1, 1914;

(3) Turkish financial, industrial and commercial companies controlled by Allied groups or nationals, or in which such groups or nationals possessed the preponderant interest on August 1, 1914

(4) Religious or charitable institutions and scholastic establishments in which nationals or protected persons of the Allied Powers are interested.

The Allied Powers will communicate to the Financial Comission, within one year from the coming into force of the present Treaty, the list of eompanies, institutions and establishments in which they consider that their nationals possess a preponderant interest or are interested.