WORLD TRADE WT/L/45
23February 1995
ORGANIZATION(95-0378 )
WTO COMMITTEE ONBALANCE-OF-PAYMENTS RESTRICTIONS
Decision bytheGeneral Council on31January 1995
Atitsmeeting on31January 1995 theGeneral Council established theWTO Committee on
Balance-of-Payments Restrictions withthefollowing terms ofreference:*
"(a) toconduct consultations, pursuant toArticle XII:4, Article XVIII:12 andtheUnderstanding
ontheBalance-of-Payments Provisions oftheGeneral Agreement onTariffs andTrade 1994,
onallrestrictive import measures taken ormaintained forbalance-of-payments purposes and,
pursuant toArticle XII:5 oftheGeneral Agreement onTrade inServices, onallrestrictions
adopted ormaintained forbalance-of-payments purposes ontradeinservices onwhich specific
commitments havebeenundertaken; and,
"(b) tocarry outanyadditional functions assigned toitbytheGeneral Council."
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*Upon adoption oftheterms ofreference, theGeneral Council alsotook noteofthe
accompanying statement orunderstanding tothetextreferred toinparagraph 40ofthereport ofthe
Preparatory Committee contained indocument PC/R.