Organization which ceases to be a member of the International Monetary Fund shall forthwith enter into a special exchange agreement with the Organization. Any special exchange agreement entered into by a Member under this paragraph shall thereupon become part of its obligations under this Charter. 7. (a) A special exchange agreement between a Member and the Organization under paragraph 6 of this Article shall provide to the satisfaction of the Organization that the objectives of this Charter will not be frustrated as a result of action in exchange matters by the Member in question. (b) The terms of any such agreement shall not impose obligations on the Member in exchange matters generally more restrictive than those imposed by the Articles of Agreement of the International Monetary Fund on members of the Fund. 8. A Member which is not a member of the International Monetary Fund shall furnish such information within the general scope of Section 5 of Article VIII of the Articles of Agreement of the International Monetary Fund, as the Organization may require in order to carry out its functions under this Charter. 9. Subject to paragraph 4 of this Article, nothing in this Section shall preclude (a) The use by a Member of exchange controls or exchange restrictions in accordance with the Articles of Agreement of the International Monetary Fund or with that Member's special exchange agreement with the Organization, or (b) The use by a Member of restrictions or controls on imports or exports, the sole effect of which, additional to the effects permitted under Articles 20, 21, 22 and 23, is to make effective such exchange controls or exchange restrictions.

Article 24. The Belgian Delegation reserved its position pending examination of the Charter as a whole by the Belgian Government. Paragraph 2. The Australian Delegation recorded a reservation against this text, proposing the following formulation of the last sentence : " The Organization, in reaching its final decision in cases involving the criteria set forth in paragraph 2 (a) of Article 21 shall give special weight to the opinions of the International Monetary Fund as to what constitutes . . in consultation in such cases " on the ground that since the Organization has a responsibility for action under Article 21, it should also retain the right of final decision as to whether the criteria of paragraph 2 (a) have been met. The New Zealand Delegation also recorded a reservation on the last sentence of paragraph 2. Paragraph 4. The word " frustrate " is intended to indicate, for example, that infringements by exchange action of the letter of any Article of this Charter shall not be regarded as offending against that Article if, in practice, there is no appreciable departure from the intent of the Article. Thus a Member which, as part of its exchange control, operated in accordance with the Articles of Agreement of the International Monetary Fund, required payment to be received for its exports in its own currency or in the currency of one or more members of the International Monetary Fund would not thereby be deemed to be offending against Article 20 or Article 22. Another example would be that of a Meiiiber which specified on an import licence the country from which the goods might be imported for the purpose not of introducing any additional element of discrimination in its import licences but of enforcing permissible exchange controls