Page 132 - The Persian Gulf Historical Summaries (1907-1953) Vol III

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the Shaikh in respect of the Convention payments to which it relates the Company
shall forthwith pay the same; and if as a result of a conclusive final tonnage state­
ment or arbitration decision as aforesaid the amount paid by the Company in
respect of such Convention payments is found to have exceeded the amount which
ought to have been paid, such excess shall be treated as an advance by the Company
against future Convention Payments.
(c) Any make-up payment in respect of any year shall be paid by four approxi­
mately equal and (if necessary) provisional quarterly payments on the dates on
which instalments of Qatar income tax arc payable in respect of that year; but
if, when the total amount payable by the Company under Article 2 (a) hereof in
respect of that year is finally determined, provisional payments as aforesaid arc
found to be less in the aggregate than the make-up payment, the Company shall
forthwith make good the deficiency; if such provisional payments as aforesaid are
found to have exceeded the make-up payment, such excess shall be treated as an
advance against future Convention payments.
(d) All payments under this Article and otherwise under this Agreement shall
be made and satisfied by payment in Sterling to the Eastern Bank Limited (or other
bank nominated by the Shaikh in the Sterling Area being the Schedule Territories
as defined in the United Kingdom Exchange Control Act, 1947. and regulations
made thereunder) for credit of the account in Doha of the Shaikh of Qatar.

Article 6
(«) As from the Effective Date, the Existing Convention shall be amended as
follows: —
(i) all sums expressed therein in rupees and/or annas shall be deemed to be
expressed in Sterling at the rate of one shilling and sixpence Sterling
for one rupee and shall be payable in Sterling. All Convention pay­
ments shall, unless otherwise agreed, be payable quarterly in arrears in
accordance with the procedure provided for in Article 5 of this
Agreement;
(ii) for the purpose of paragraph (d) (i) of Article Fourth the quantity of oil
won and saved into storage shall be the quantity of exported oil as
ascertained under Article 4 ib) of this Agreement;
(iii) Article Tenth shall be deleted and the following new Article substituted
therefor: —
“ Article Tenth ”
“ In consideration of the payment by the Company in lieu of all
taxation of a comprehensive taxation commutation amounting to a
sum equal to sixpence Sterling per ton upon the quantity of the sub­
stances exported on and after the effective date upon which royalty
is payable under paragraph {d) (1) of Article Fourth hereof the Company
shall be entitled: —
(a) to import free of all import customs and other duties water, petro­
leum and any of its derivatives, fuel, machinery, motor cars,
lorries, aeroplanes, equipment, instruments, wood utensils, iron
ware, building materials, medicines, office equipment, household
furniture and all other things, equipment and goods required by
the Company or by its employees for its operations. The
Company shall, however, pay the ordinary duty applicable to
British merchants in the State of Qatar on all personal effects,
piece-goods, general merchandise and provisions which it imports
for the personal use of its employees. Goods imported free of
duty shall not be sold for use in the State of Qatar except as
provided for in paragraph (b) hereof;
(b) to supply imported bunkers and other imported petroleum products
to the Company’s ships and to any ships loading the substances
and to export all substances and their derivatives and soods
already imported by the Company under paragraph (a) above,
such supply and export to be free of all export customs or other
duties.
(c) to exemption from all taxation of whatever nature whether State or
municipal and whether already imposed or hereafter to be
imposed on its operations, capital, income, profits, borings.