[Sidenote:  War debt held outside the empire.]

The war debt held outside the former empire shall be a charge on the Republic of Austria alone.  All war securities shall be stamped within two months with the stamp of the State taking them up, replaced by certificates, and settlement made to the Reparation Commission.

The currency notes of the former Austro-Hungarian Bank circulating in the separated territory shall be stamped within two months by the new governments of the various territories with their own stamp, replaced within twelve months by a new currency, and turned over within twelve months to the Reparation Commission.  The bank itself shall be liquidated as from the day after the signature of the treaty by the Reparation Commission.

[Sidenote:  Property within the new States.]

States to which Austrian territory was transferred and States arising from the dismemberment of Austria shall acquire all property within their territories of the old or new Austrian Government, including that of the former royal family.  The value is to be assessed by the Reparation Commission and credited to Austria on the reparation account.

[Sidenote:  Property of historic interest.]

Property of predominant historic interest to the former kingdoms of Poland, Bohemia, Croatia, Slavonia, Dalmatia, Bosnia, Herzegovina, the Republic of Ragusa, the Venetian Republic, or the episcopal principalities of Trent and Bressanone may be transferred without payment.

Austria renounces all rights as to all international, financial, or commercial organizations in allied countries, Germany, Hungary, Bulgaria, Turkey, or the former Russian Empire.  She agrees to expropriate, on demand of the Reparation Commission, any rights of her nationals in any public utility or concession in these territories, in separated districts, and in mandatory territories, to transfer them to the commission within six months, and to hold herself responsible for indemnifying her nationals so dispossessed.

[Sidenote:  Austria to renounce treaties of Bucharest and Brest-Litovsk.]

She also agrees to deliver within one month the gold deposited as security for the Ottoman debt, renounce any benefits accruing from the treaties of Bucharest and Brest-Litovsk, and transfer to the allied and associated Governments all claims against her former Allies.

Any financial adjustments, such as those relating to banking and insurance companies, savings banks, postal savings banks, land banks or mortgage companies in the former monarchy, necessitated by the dismemberment of the monarchy, and the resettlement of public debts and currency, shall be regulated by agreements between the various governments failing which the Reparation Commission shall appoint an arbitrator or arbitrators, whose decision shall be final.

Austria shall not be responsible for pensions of nationals of the former empire who have become nationals of other States.