Artikel III

Section 3.01. Each of the Governments specified below hereby undertakes, subject to such parliamentary or congressional action as may be necessary, to contribute to the Fund, as a grant, the amount specified opposite its name below:
Section 3.02.
(a) Upon the entry into force of this Agreement the Administrator shall promptly notify each of the contributing Parties of the amount required to be paid by it as part of its contribution to the Fund to cover estimated disbursements of the Fund during the period ending December 31, 1966, and shall before the beginning of each period commencing 1st January or 1st July thereafter (at a time to be agreed between the Administrator and each Party concerned) notify each of the contributing Parties of the amount so required to be contributed by it during such period. Each of the contributing Parties undertakes to make the payment specified in such notice at the time or times and in the amounts specified or provided for therein or at such other times during such period as may be agreed upon between the Administrator and the contributing Party.
(b) The Administrator may include in its estimate of amounts required to be paid in any period pursuant to this Section such sums as it shall consider necessary or desirable to establish and maintain a reasonable reserve against an excess of actual expenditures over the estimates of such expenditures.
Section 3.03. It is understood and agreed that:
(a) Australia shall pay its contribution to the Fund in six installments, the first of $ 85,000 and the others of $ 83,000 each, payable in the first six periods referred to in Section 3.02 (a);
(b) Japan shall pay its contribution to the Fund in eight equal installments of $ 500,000 each, payable in the first eight periods referred to in Section 3.02 (a);
(c) New Zealand shall pay its contribution to the Fund in eight equal installments of $ 43,750 each, payable in the first eight periods referred to in Section 3.02 (a);
(d) the amount to be called up for payment to the Fund from the other contributing Parties in each period referred to in Section 3.02 (a) shall be apportioned among them in proportion to their contributions as set forth in Section 3.01.
Section 3.04. Payments of contributions shall be made in dollars, or in the equivalent thereof in such other currencies, useable or convertible, as may be agreed upon between the contributing Party and the Administrator.
Section 3.05. The Parties agree to accept the Administrator's decisions as to estimated requirements and receipts of the Fund, and of the reserve required, for the purposes of this Agreement. The Administrator and any two or more of the contributing Parties may agree upon a change, for one or more semi-annual periods, in the relative proportions to be paid by such Parties, provided that the aggregate amounts to be paid by them for such period or periods remain substantially unchanged and that appropriate compensating adjustments are made in respect of later periods.