AGREEMENT in the form of an Exchange of Letters concerning the provisional application of the protocol establishing the fishing opportunities and the financial contribution provided for in the Agreement between the European Economic Community and the Government of the Democratic Republic of São Tomé e Príncipe on fishing off the coast of São Tomé e Príncipe for the period 1 June 1996 to 31 May 1999

A. Letter from the Government of the Democratic Republic of São Tomé e Príncipe

Sir,

With reference to the Protocol initialled on 23 May 1996 establishing the fishing opportunities and the financial compensation for the period 1 June 1996 to 31 May 1999, I have the honour to inform you that the Government of the Democratic Republic of São Tomé e Príncipe is ready to apply the Protocol on a provisional basis, with effect from 1 June 1996, pending its entry into force in accordance with Article 7 of the Protocol, provided that the European Community is prepared to do the same.

This is on the understanding that the first annual instalment of one third of the financial compensation specified in Article 2 of the Protocol is to be paid before 31 October 1996.

I should be obliged if you would confirm the European Community's agreement to such provisional application.

Please accept, Sir, the assurance of my highest consideration.

For the Government of the Democratic Republic of São Tomé e Príncipe

B. Letter from the European Community

Sir,

I have the honour to acknowledge receipt of your letter of today's date, which reads as follows:

'With reference to the Protocol initialled on 23 May 1996 establishing the fishing opportunities and the financial compensation for the period 1 June 1996 to 31 May 1999, I have the honour to inform you that the Government of the Democratic Republic of São Tomé e Príncipe is ready to apply the Protocol on a provisional basis, with effect from 1 June 1996, pending its entry into force in accordance with Article 7 of the Protocol, provided that the European Community is prepared to do the same.

This is on the understanding that the first annual instalment of one third of the financial compensation specified in Article 2 of the Protocol is to be paid before 31 October 1996.

I should be obliged if you would confirm the European Community's agreement to such provisional application.` I have the honour to confirm the European Community's agreement to such provisional application.

Please accept, Sir, the assurance of my highest consideration.

On behalf of the Council of the European Union