THE COUNCIL,
HAVING REGARD to Article 5 b) of the Convention on the Organisation for Economic Co-operation and Development of 14 December 1960;
HAVING REGARD to the Paris Convention of 29 July 1960 on Third Party Liability in the Field of Nuclear Energy as amended by the Additional Protocol of 28 January 1964;
HAVING REGARD to the Brussels Convention of 31 January 1963 Supplementary to the Paris Convention, as amended by the Additional Protocol of 28 January 1964;
CONSIDERING that the Protocols of 16 November 1982 amending the Paris and Brussels Conventions respectively provide that the units of account of the European Monetary Agreement are to be replaced by Special Drawing Rights as defined by the International Monetary Fund;
RECOMMENDS:
That the Contracting Parties to the Paris Convention and to the Brussels Supplementary Convention, pending the entry into force of the Protocols of 16 November 1982 amending these Conventions and in order to eliminate problems caused by the application of the European Monetary Agreement unit of account as the monetary unit of these Conventions, should interpret the provisions referring to the unit of account as follows:
i) The amounts expressed in units of account in the Paris Convention and the Brussels Supplementary Convention shall be converted into Special Drawing Rights as defined by the International Monetary Fund, one unit of account being equal to one Special Drawing Right;
ii) The amounts expressed in Special Drawing Rights pursuant to sub-paragraph i) above, shall be converted into national currency in accordance with the method of valuation applied by the International Monetary Fund for its own operations and transactions.