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TREATY ESTABLISHING A CONSTITUTION FOR EUROPE
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TREATY ESTABLISHING A CONSTITUTION FOR EUROPE
PART-III
: THE POLICIES AND FUNCTIONING OF THE UNION
TITLE-VI
: THE FUNCTIONING OF THE UNION
CHAPTER-II
: FINANCIAL PROVISIONS
SECTION-4
: COMMON PROVISIONS
ARTICLE III-411
ARTICLE III-411
The
Commission
may, provided it notifies the
competent authorities
of the
Member States
concerned
,
transfer
into the
currency
of one of the
Member States
its holdings in the
currency
of another
Member State
, to the
extent
necessary to enable them to be used for
purposes
which come within the
scope
of the
Constitution
. The
Commission
shall as far as possible
avoid
making such
transfers
if it possesses
cash
or
liquid
assets
in the
currencies
which it needs.
The
Commission
shall deal with each
Member State
concerned
through the
authority
designated
by that
State
. In carrying out
financial
operations
the
Commission
shall employ the
services
of the
bank
of issue of the
Member State
concerned
or of any other
financial institution
approved
by that
State
.
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