English Translation

$131 III. For inheritances and legacies incurred by one of the persons referred to above until 31 December 1950, in so far as the deceased himself could have caused the transfer of the assets in accordance with point I. As far as application of these guidelines is concerned, the reference date shall be 23 June 1939. 24. For the assets of the persons referred to above, permission will be given to transfer them in accordance with the provisions of the Agreement regulating payments between Germany. and Jtalien (Agreement of Transfers) of 26 September 1934. (a) amounts of cash in lire up to 500o lire for each head of household, and, in addition, with the agreement of the principal commission for fixed assets referred to in paragraph 23 above; (f) the proceeds from the sale of basic assets, including associated rights of use, rights to purchase wood, grazing rights, etc. dg.; g) the proceeds from the repurchase of pensions and Nuhe salaries or the pensions and pensions themselves as at 31 December 1945; h) claims arising from public (social) and private-law obligations. In so far as the persons referred to above are engaged in a commercial activity in Jtalien from which they have acquired property abroad, their obligation to deliver it to the Junstituto Nazionale per i Cambi con l'Eftero remains. 25. The following shall be regarded as net assets within the meaning of paragraph 23, I1 and under the conditions laid down in paragraph 24: (a) bank balances deposited with a bank office in the contractual territory or there; furthermore, securities in respect of which the debtor or the exhibitor has his or her share in the contract territory (e.g. bonds or shares of a company with siss in the agreement. (c) pensions and pensions if the debtor has his residence or pension in the territory of the contract; 26. If all members of a cooperative registered on 23 June 1939 leave, the property of the cooperative shall be transferred. In the other case, the assets shall be returned to the members registered on the 23 June and dependent on a liquidation balance sheet dated 23 June, 1939. 10