Artikel 5

1. No stocks may be accepted under Article 2 of this Agreement as being stocks to which this Agreement applies unless:
a. the undertaking seeking to hold the stocks outside the Contracting Party of establishment (‘‘the first undertaking’’) has furnished the competent authority of that Contracting Party, not later than ten working days before the commencement of the period to which the acceptance relates, with the following particulars: i. its name and address and the name and address of the undertaking established in the territory of the Contracting Party where the stocks are to be held (‘‘the second undertaking’’), which is to hold the stocks on its behalf;
ii. the nature and quantity of the stocks;
iii. location of the depot(s) where the stocks are to be held;
iv. the period for which the stocks are to be held;
v. if requested the provisions of any agreement whereby the stocks are to be held on behalf of the first undertaking by the second undertaking; and,
i. its name and address and the name and address of the undertaking established in the territory of the Contracting Party where the stocks are to be held (‘‘the second undertaking’’), which is to hold the stocks on its behalf;
ii. the nature and quantity of the stocks;
iii. location of the depot(s) where the stocks are to be held;
iv. the period for which the stocks are to be held;
v. if requested the provisions of any agreement whereby the stocks are to be held on behalf of the first undertaking by the second undertaking; and,
b. both the first and the second undertaking consent to the competent authority of the Contracting Party in whose territory the stocks will be situated disclosing to the competent authority of the other Contracting Party any information obtained for the purpose of implementing this Agreement.
2. Where an undertaking is seeking to hold outside the territory of the Contracting Party of its establishment, stocks which will not be owned by that undertaking (the ‘‘beneficiary undertaking’’), but will be held at its disposal by another undertaking (the ‘‘delegating undertaking’’), then in addition to the provisions of paragraph 1 above, no stocks which are to be so held may be accepted under Article 2 of this Agreement as being stocks to which this Agreement applies, unless
a. the stocks are to be held by virtue of an agreement in writing between the beneficiary undertaking and the delegating undertaking (the ‘‘contract’’) which will subsist throughout the period to which the acceptance relates;
b. the beneficiary undertaking has the contractual right to acquire the stocks throughout the period of the contract and the methodology for establishing the price of such acquisition is specified in the contract;
c. the actual availability of the stocks for the beneficiary undertaking is guaranteed at all times throughout the period of the contract, and
d. the delegating undertaking is one which is subject to the jurisdiction of the Contracting Party, on whose territory the stocks are situated, insofar as the legal powers of that Contracting Party to control and verify the existence of the stocks are concerned.
3. Where the competent authority of one Contracting Party (‘‘the first competent authority’’) has been furnished with particulars under paragraph 1(a) and 2 of this Article, or any changes in respect of such particulars, and accepts the stocks in question as stocks to which this Agreement applies, that authority shall, not later than ten working days before the commencement of the period to which the acceptance relates, transmit the particulars to the competent authority of the other Contracting Party (‘‘the second competent authority’’) and notify it of such acceptance.
4. The second competent authority shall use all reasonable endeavours to notify the first competent authority whether or not it accepts the stocks in question as stocks to which this Agreement applies no later than five working days before the commencement of the period to which the acceptance relates. In the event that no such notification is received by the first competent authority before the aforementioned date, the second competent authority shall be deemed not to have accepted the stocks in question as stocks to which this Agreement applies.
5. Any acceptance under paragraph 3 and 4 of this Article may be withdrawn by either competent authority if any inaccuracy is found in the particulars furnished in respect of that acceptance under paragraph 1(a) or 2 of this Article or if there is any material change in the matters to which those particulars relate. Before withdrawing an acceptance under this provision the competent authority concerned shall inform the competent authority of the other Contracting Party and afford the undertaking, which had furnished the particulars a reasonable opportunity to make representations.