FOREIGN RELATIONS, 1946, VOLUME IV



he shall receive from the Bulgarian Government comnpensatwn in levas
to the extent of 75 per cent of the sum necessary, at the date of payment,
to purchase similar property or to make good the loss suffered. In no
event shall the United Nations nationals receive less favorable treat-
mnent with respect to compensation than that accorded to Bulgarian
nationals.
  b. United Nations nationals who have ownership interests, held
directly or indirectly in corporations or associations which are not
United Nations nationals within the meaning of paragraph 8a of
this Article, but which have suffered a loss by reason of injury or
damage to property shall receive compensation in accordance with
s.ubparagraph a above. This compensation shall be based on the total
loss or damage suffered by the corporation or association and shall
bear the same proportion to such loss or damage as the beneficial in-
terest of such nationals bears to the total capital of the corporation
or association.
                           ARTICLE 28
  Paragraph l: (States monopolies.)
  c. Natural and legal persons who are nationals of any of the United
Nations shall be granted national and most-favored-nation treatment
in all matters pertaining to commerce, industry, shipping and other
forms of business activity within Bulgaria.
  This paragraph shall not be deemed to confer on the United Nations,
or their nationals, rights to engage in any branch of commerce, indus-
try, shipping or other form of business activity which under Bul-
garian law is a monopoly of the Bulgarian state. Nevertheless, the
most-favoured nation principle shall be observed in any such cases
in which foreign participation is allowed.
                             ANNEX 5
              SECTON III.-Negotiable Instrumments
  1. As between enemies no negotiable instrument made before the
war shall be deemed to have become invalid by reason only of failure
within the required time to present the instrument for acceptance or
payment or to give notice of non-acceptance or non-paynent to draw-
ers or endorsers or to protest the instrument, nor by reason of failure to
complete any formality during the war.
  2. Where the period within which a negotiable instrument should
have been presented for acceptance or for payment, or within which
notice of non-acceptance or non-payment should have been given to the
drawer or endorser or within which the instruwment should have been
protested, has elapsed during the war and the party who should have
presented or protested the instrument or have given notice of non-
acceptance or non-payment has failed to do so during the war, a pe-



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