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1 Supplementary Agreement entered into this 28th day of May, 1974Between: the Minister of Finance of Canada hereinafter referred to as "the Minister", of the First part, and the Government of China represented by Mr. Tien Pao-Sheng, Charged'Affaires ad interimof China in Canada, of the Second Part: WHEREAS by an agreement, dated February 7, 1964, (hereinafter c-alled the "Principal Agreement") the Government of Canada agree-d to lend to the Government of China amounts not exceeding SixtyMillion Dollars ($60,000,000) Canadian; AND WHEREAS the Government of China has requested and the Gover-nment of Canada, subject to provisions hereof, has agreed, thatthe proceeds of loan granted under the Principal Agreement may,in addition to the purchases set out in the Principal Agreement,also be used to pay the cost of Canadian services; AND WHEREAS by chapter forty-nine of the Statutes of Canada of1946, the Export Credits Insurance Act was amended to authorizethe Minister to enable borrowing countries to use proceeds of a-ny loan granted under the said Act to pay the cost of Canadianservices; AND WHEREAS the Principal Agreement provides that any portion ofthe Sixty Million Dollars ($60,000,000) Canadian that may be le-nt thereunder which has not been requisitioned by the Governmentof China in accordance with the provisions of the said Agreementon or before the 31st day of December, 1947, shall lapse and beno longer payable by the Minister unless the parties to the Pri-ncipal Agreement mutually agree otherwise; AND WHEREAS the Government of China has represented that becauseof the shortage of supplies available for purchase in Canada itwill not be possible to expend the whole of the said amount bef-ore the said date for the purchase of most urgently required co-mmodities, and has accordingly requested that the period duringwhich the said loan may be requisitioned by it under the Princi-pal Agreement be extended until December 31, 1948; AND WHEREAS it has been mutually agreed that the said period beso extended and it is necessary in consequence thereof to makeprovision for repayment in respect of the amounts requisitionedduring the extended period. NOW THEREFORE this agreement witnesseth that the parties heretocovenant and agree with each other as follows:─ 1 In this agreement the term "Canadian services" has the meaningassigned to it by the Export Credits Insurance Act of Canadaor any regulations made thereunder. 2 Notwithstanding anything contained in the Principal Agreement,it is mutually agreed that amounts that ma be lent by the Min-ister to the Government of China thereunder as provided in cl-ause two of the Principal Agreement, may be requisitioned bythe Government of China to enable it to pay the cost of Canad-ian services in addition to the payment of the cost of Canadi-an-produced goods exported or to be exported from Canada to C-hina, as provided in the said clause two, and the Governmentof China agrees to expend the moneys received by it by way ofloans under the Principal Agreement and this agreement, solelyfor the purpose of purchasing from exporters and paying the c-ost of Canadian-produced goods exported or to be exported fromCanada or the cost of Canadian services in accordance with aprogram to be agreed upon from time to time by the Canadian M-inister of Trade and Commerce and the Canadian Minister of Fi-nance and by representatives of the Government of China desig-nated by the Ambassador of China to Canada. 3 Pursuant to clause seven of the Principal Agreement, it is mu-tually agreed that any portion of the Sixty Million Dollars ($60,000,000) Canadian referred to in clause two of the Princi-pal Agreement which has not been requisitioned by the Governm-ent of China in accordance with the said clause two on or bef-ore December 31,1947, may be requisitioned by the Governmentof China on or before December 31, 1948, and the Minister willpay the amounts so requisitioned in the manner provided in thePrincipal Agreement in respect of amounts so requisitioned. 4 Without restricting the operation of clause six of the Princi-pal Agreement, which shall have full operation in respect ofamounts paid by the Minister into the account of the Governme-nt of China for the credit of the Chinese Government during t-he period therein mentioned, the Government of China agrees t-hat amounts paid by the Minister into the account of the Gove-rnment of China for the credit of the Chinese Government purs-uant to the Principal Agreement and clause three of this agre-ement during the period commencing on January 1, 1948, and en-ding on December 31, 1948, inclusive, together with interestthereon as provided in clause five of the principal Agreement,shall, at the end of the said period, be consolidated into oneamount, called in this clause the consolidated debt, and theGovernment of China shall thereupon on December 31, 1948, payone-thirtieth of the amount of the consolidated debt and deli-ver to the Minister bonds of a face value equal to the remain-der of the consolidated debt, which bonds shall constitute va-lid, binding, absolute and unconditional obligations of the G-overnment of China; the said bonds shall bear interest at therate of three percentum per annum, payable semiannually on the30th day of June and the 31st day of December, and shall matu-re serially in twenty-nine equal annual amounts of principalpayable on the 31st day of December 1949, and on the 31st dayof December in each year thereafter up to and including the y-ear 1977. 5 This agreement and the Principal Agreement shall be read andconstrued as one agreement and all provisions of the PrincipalAgreement not inconsistent with this agreement shall apply inrespect of amounts lent under the Principal Agreement and thisagreement. IN WITNESS WHEREOF the parties hereto have caused these presentsto be signed on the day and year first above mentioned. Witness: W. K. ChowTien Pao-Sheng For the Government of China R. B. BryceMinister of Finance of Canada