C.P.(Gen)Doc. 1.J.12.

Article 65 bis

After Article 65 insert an additional Article as 65 bis reading as follows:

The Italian State or Italian natural or juridical persons who have taken possession, or taken over in occupied territory the administration in any capacity whatsoever, of any property belonging to a Greek natural or juridical person or who have in any capacity whatsoever, collected debts or funds belonging to any natural or juridical person of Greek nationality, shall refund the proceeds of such administration or the amount collected. The amount payable will be computed on the basis of the real value of the amounts collected of the proceeds of administration. This amount will be payable in dollars at the exchange rate in force at the time of restitution. Disputes [Page 704]concerning the application of this Article will be referred to an arbitrator nominated, at the request of the Greek Government by the President of the International Court of Justice. The arbitral award will be final and legally enforceable in Italy without any exequatur formalities.”