§ 64. Mr. Errollasked the Chancellor of the Exchequer to what extent United Kingdom firms are permitted to transfer into sterling compensation for war damage received from the Japanese Government.
§ Mr. Boyd-CarpenterThe Japanese Government are not required, under the Peace Treaty, to transfer into foreign currency any compensation for war damage. They have by domestic legislation accepted an obligation to transfer certain war damage payments into foreign currency "as speedily as Japan's foreign exchange situation permits." The transfer of war damage payments is, 35W however, subject to Japan's foreign exchange law. There is no specific provision for such transfers in Japanese regulations, but certain small transfers have in fact been permitted from time to time.