Title: wetten.nl - Regeling - Notawisseling tussen de Nederlandse en de Canadese Regering betreffende Canadese effecten - BWBV0004863

Source: https://wetten.overheid.nl/BWBV0004863/

Content:
{"title": "wetten.nl - Regeling - Notawisseling tussen de Nederlandse en de Canadese Regering betreffende Canadese effecten - BWBV0004863", "content": "Notawisseling tussen de Nederlandse en de Canadese Regering betreffende Canadese effecten\n\nMINISTER OF FINANCE\n\nCANADA\n\nOttawa, April 10, 1952.\n\nHis Excellency A. H. J. Lovink,\n\nAmbassador of The Netherlands to Canada,\n\n168 Laurier Avenue East,\n\nOttawa, Ontario.\n\nExcellency:\n\nCareful consideration has been given to the proposals made by representatives of the\n                                       Government of The Netherlands with respect to safeguarding the rights of bona fide\n                                       holders of bonds of Canada that were looted from their Netherlands owners during the\n                                       recent war. Appended as a schedule to this letter is a list of the bonds in question\n                                       as furnished by your Government.\n\nThe Government of Canada is prepared to agree to arrangements in the following terms:\n\n1. The Government of Canada will arrange with the Bank of Canada to issue a duplicate\n                                             of each of the bearer bonds specified in the schedule hereto for the benefit of the\n                                             true owner of the original bond. In the case of those bonds that, at the date of this\n                                             agreement, have matured or been called for redemption, the principal amount payable\n                                             on redemption will be paid into the account mentioned in paragraph 4 hereunder for\n                                             the benefit of the true owner. By true owner, I mean the person who, at law, is entitled\n                                             to present the original bond at maturity for redemption and to receive payment therefor.\n\n2. Since it is not possible for the Bank of Canada to determine whether or not the coupons\n                                             belonging to a bond specified in the schedule have been presented and paid, or to\n                                             identify such a coupon in time to prevent payment to an unauthorized holder, the duplicates\n                                             of the bonds will be issued without coupons and interest will be paid only on presentation\n                                             of coupons belonging to the original bond.\n\n3. Each duplicate bond so issued will be delivered to the Government of The Netherlands\n                                             in trust for the true owner of the corresponding original bond and the Government\n                                             of The Netherlands will thereupon deliver each duplicate bond into the custody of\n                                             the Bank of Canada pending redemption or delivery thereof to the true owner.\n\n4. The proceeds of the redemption of any duplicate bond that is redeemed while in the\n                                             custody of the Bank of Canada will be paid into a special account in the Bank of Canada\n                                             to the credit of the Government of The Netherlands which will regard the money in\n                                             the account as belonging to the true owner of the corresponding original bond.\n\n5. The Government of The Netherlands agrees that the Bank of Canada may, before releasing\n                                             from its custody any duplicate bond lodged with it or before making any payment out\n                                             of the account mentioned in paragraph 4 above, require evidence that the Minister\n                                             of Finance of Canada consents to the release or payment and that the bond is to be\n                                             delivered or the payment made to the true owner of the corresponding original bond\n                                             or the proceeds of redemption that are to be paid.\n\n6. The Government of The Netherlands will attempt to find the bonds specified in the\n                                             schedule and will give to the Government of Canada any information it receives concerning\n                                             the loss, theft or destruction of each bond, the whereabouts of each bond and the\n                                             facts relied upon by all claimants to the ownership of each bond. If any such bond\n                                             comes into the possession, ownership or control of the Government of The Netherlands,\n                                             the Government of Canada or the Bank of Canada, the Government of The Netherlands\n                                             will instruct the Bank of Canada to cancel the corresponding duplicate bond, or if\n                                             the duplicate bond is no longer in the custody of the Bank of Canada, will cause it\n                                             or the corresponding original bond to be delivered to the Bank of Canada for cancellation;\n                                             or if the bond has been redeemed, the Government of The Netherlands will cause the\n                                             original bond to be delivered to the Bank of Canada for cancellation.\n\n7. The Government of The Netherlands will indemnify and save harmless the Government\n                                             of Canada and the Bank of Canada against and from all loss, costs, damages, expenses\n                                             and claims, whether litigated or not, that may result directly or indirectly from\n                                             the issue or delivery of duplicate bonds under this agreement, or any subsequent transactions\n                                             or payments relating to or induced by the existence of the duplicate bonds, or in\n                                             any way arising out of this agreement.\n\n8. These arrangements will be reviewed by the Government of Canada and the Government\n                                             of The Netherlands before December 31, 1955, with a view to making any revision thereof\n                                             that may be considered desirable.\n\nIf the foregoing arrangements and undertakings are agreeable to your Government, I\n                                       should appreciate a reply from you to that effect. This letter and your reply accordingly\n                                       will constitute a binding agreement between our respective Governments. The Government\n                                       of Canada understands that your Government proposes to give publicity to the foregoing\n                                       arrangement and has no objection to this proposal.\n\nAccept, Excellency, the assurances of my highest consideration.\n\n(s.) D. C. ABBOTT.\n\nI. Bonds of Canada for which duplicates will be issued.\n\n3 % Canada Perpetual Loan 1936\n\nP1E 2583 .......................................\n\n1 X $ 1000\n\nP1E 6439 .......................................\n\n1 X $ 1000\n\nP1E 7632 .......................................\n\n1 X $ 1000\n\nP1E 13841 .....................................\n\n1 x $ 1000\n\nP1E 30424 .....................................\n\n1 X $ 1000\n\nP1E 30425 .....................................\n\n1 X $ 1000\n\nP1E 39767 .....................................\n\n1 X $ 1000\n\nP1E 43306 .....................................\n\n1 X $ 1000\n\nP1E 43692 .....................................\n\n1 X $ 1000\n\nII. Bonds of Canada that have matured or been called for redemption-proceeds to be paid\n                                             into Special Account in the Bank of Canada.\n\n5 % Canada External Loan 1922/52\n\n17199 .....................................\n\n1 X $ 1000\n\n3 % Canada External Loan 1938/68\n\nE 34446 .....................................\n\n1 X $ 1000\n\nROYAL NETHERLANDS EMBASSY\n\nNo. 637\n\nOttawa, April 10th, 1952.\n\nDear Mr. Minister,\n\nI have the honour to acknowledge receipt of your letter of April 10th, 1952, with\n                                       respect to safeguarding the rights of bona fide holders of bonds of Canada that were\n                                       looted from their Netherlands owners during the recent war.\n\nThe arrangements and undertakings, as specified therein, are agreeable to my Government.\n\nYour letter and my reply accordingly constitute a binding agreement between our respective\n                                       Governments.\n\nAccept, Mr. Minister, the assurances of my highest consideration.\n\n(s.) A. H. J. LOVINK,\n\nNetherlands Ambassador.\n\nHon. D. C. Abbott,\n\nMinister of Finance,\n\nConfederation Building,\n\nOttawa, Ont."}