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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.