Page 58 - The Persian Gulf Historical Summaries (1907-1953) Vol III
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            Now therefore:
            It is hereby agreed that effective from midnight November 30, 1951, the Con­
        cession is hereby altered and amended in the following particulars: —
                1.  If force majeure shall at any time or times compel the British Company
            and the American Company to suspend or cease operations, the British
            Company and the American Company will jointly guarantee subject as pro­
            vided below that His Highness will receive as a minimum in each year during
            the period of force majeure £5,000,000 sterling (United Kingdom), and the
            amount advanced by the companies to accomplish this guarantee shall be
            recovered from the royalty payable to His Highness in years subsequent to
            the period of force majeure provided that this guarantee shall cease to operate
            and be of no effect during any time when the amount to be recovered as
            aforesaid equals £10,000,000 sterling (United Kingdom).
                2.  The British Company and the American Company will jointly make
            a grant of £30,000 sterling (United Kingdom) for 1952 and £45,000 sterling
            (United Kingdom) for each subsequent year for the higher education of
            Kuwaitis at universities and schools outside Kuwait. The selection, placing
            and welfare of these students will be the responsibility of the Kuwait
            Government.
                3.  Questions having arisen relative to the exact islands and the exact
            portion of the sea bed and sub-soil of the Persian Gulf included within the
            area covered by the Concession, it is agreed: —
                (a)  The only islands included in said area are the islands of Warbah,
                      Bubiyan, Failaika, Mashjan and Auha and all islands in the Bay of
                      Kuwait. The British Company and the American Company hereby
                      relinquish and renounce all claims that the Concession covers any
                      other islands, including Kubr, Qaru and Umm al Maradim.
                (b)  The area of the Concession covers and extends over the sea bed and
                      sub-soil lying beneath the waters of the Persian Gulf subject to
                      the authority of the Kuwait Government up to a distance of six
                      nautical miles from the low-water base line or base points at present
                      used for delimiting the territorial waters of Kuwait, including the
                      base line or base islands of Warbah, Bubiyan, Failaika, Mashjan
                      and Auha; provided that where said base line crosses Kuwait Bay
                      it shall, for this purpose, be drawn across the entrance of Kuwait
                      Bay, that is, it shall be drawn from low-water mark at Ras al Ardh
                      to the point at low-water mark on the opposite coast at latitude
                      29° 27' 10" North, longitude 48° 14' 00" East.
                (c)  Save as aforesaid, the area covered by the Concession does not include
                      the continental shelf appertaining to Kuwait.
                4.  The period of the Concession, as specified in Article 1 thereof, is
            hereby extended for an additional period of 17 years.
                5.  For the purposes of accounting for royalties payable under the
            Concession and of making other payments provided for in the Concession,
            the “ Anniversary Date ” referred to in the Concession shall be deemed to
            be the 31st rather than the 23rd of December of each year.
                6.  From 1st December, 1951, all payments computed in Rupees to be
            made by the British Company and the American Company to His Highness
            under the Concession shall be made in sterling (United Kingdom) at the official
            rate of exchange in effect in London on the date the payment becomes due.
                7.  Neither the British Company nor the American Company shall assign
            or transfer in whole or in part their respective rights, interests and obligations
            under the Concession without the written consent of His Highness, which
            consent will not be unreasonably withheld.
            It is further agreed that the British Company and the American Company will
        continue to pay to His Highness the amount per ton specified to be paid in sub­
        division (A) of Article 7 of the Concession, and that in view of the appointment
        of the Operating Company to manage and carry on the operations under the
        Concession on behalf of the British Company and the American Company, the
        rights and benefits granted by subdivision (A) of Article 7 of the Concession shall
        extend not only to the British Company and the American Company but also to
        the Operating Company during the period the Operating Company is acting as
        such manager.
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