The following arbitral award was rendered by a sole arbitrator in connection with disputes reen the Libyan Arab Republic ("Libya") and two international oil companies arising out of rees of nationalization promulgated by Libya. This award is being reproduced herewith in entirety . The award not only considers many fundamental principles and doctrines of international law but is also unique in two major respects . For the first time in the history of international arbitration relating to economic development contracts , an arbitral tribunal held ; the injured parties were entitled to restitutio in integrum and that the sovereign s t a te obliged to perform specifically its contractual obligations with private foreign investors, iddition, the arbitral tribunal , after reviewing the legal effect in international law of the :ed Nations General Assembly resolutions concerning permanent sovereignty over natural wealth resources, concluded that such resolutions could not be used by the state to violate its :ractual obligations in commercial transactions . The remaining portion of this Introductory : will briefly describe the steps leading to arbitration , the arbitral proceedings and the ilution of the disputes.

On 28th October 1976 an ex parte order was made in the High Court, Queen's Bench Division, under section 2 of the Evidence (Proceedings in Other jurisdictions) Act 1975, giving effect to letters rogatory issued out of the United States District Court for the Eastern District of Virginia, Richmond Division, at the instance of Westinghouse Electric Corporation (Westing- "house"). In the Richmond Court Westinghouse are defendants in a number of actions (civil proceedings) consolidated in that court, by utility companies producing electricity, alleging breaches of contract by Westinghouse for the supply of uranium and claiming very large sums in damages. Westinghouse put forward.(inter alia) a defence of commercial impracticability arising from an alleged uranium producers' cartel.

Ruth Ann Reed, As Administratrix of the Estate of Dan "William Reed, deceased, and as Parent, natural guardian, and best friend of Cynthia Ann Eeed, Decora Lynn Eeed and Julie Marie Eeed, all infants, et al.,

Rio Algom Corporation appeals from an order adjudging it, and its president , George R. Albino , to be in will ful and in excusable civil contempt of court for failing to comply with a discovery order of the United States District Court for the District of Utah, Central Division. Rio Algom was ordered to pay into the registry of the court the sum of $10,000, per day, until such time as Rio Algom complied with the order. It was further provided that should Rio Algom fail to pay the ordered fine, the United States Marshal was authorized and directed to enter upon the property of Rio Algom at La Sal, Utah and seize "any and all property of Rio Algom of sufficient value to satisfy the above sums." Our study of the matter leads us to conclude that the trial court erred in holding Rio Algom in contempt and in imposing the severe sanction in connection therewith. We therefore reverse.

A foreign nation otherwise entitled to sue in the courts of this country held to be a "person" within the meaning of §4 of the Clayton Act and thus to be entitled to sue for treble damages under the federal antitrust laws to the same extent as any other plaintiff. Pp. 3-11.

DETERMINED to promote and strengthen their relations of friendship and good neighbourliness,

INSPIRED by the common desire of promoting the well-being of their peoples,

RECOGNISING that the need of making an interim arrangement for sharing of the Ganges waters rakka in a spirit of mutual accommodation and the need for a solution of the long-term em of augmenting the flows of the Ganges are in the mutual interests of the peoples of the countries.

The Parties take note of the objectives of their respective remote-sensing programmes or plans. The main objectives' of tne Agency is this field relate to the development and exploitation of spaceborne remote-sensing systems ; the objective of the Centre's programme relates to both spaceborne and other remote-sensing platforms.

Desirous of establishing the maritime boundary between the United States of America and the Republic of Cuba, as a result of the enactment, by the Government of the United States of America, of Public Law No. 94–265 of April 13, 1976, and by the Government of the Republic of Cuba, of Decree – Law No. 2 of February 24, 1977, the two Governments have agreed as follows:

WHEREAS the Inter-Governmental Maritime Consultative Organization (hereinafter referred to as "IMCO.") as part of its activities and in pursuance of its constitutive Convention, co-operates with developing member States in the carrying out of activities aiming at the improvement of all technical aspects of maritime transport;

One of the most important tasks entrusted to the Preparatory Commission under paragraph C.l(o) of its Statute, was to prepare, for submission to the Governing Council, a Working Papar on the policies and criteria to govern financing by the Fund.

That through the application of the Additional Protocol of October 5, 1978 to the Cartagena Agreement, Chile has ceased to be a party to the Cartagena Agreement, ending its obligations arising from such Agreement, its Protocols, Decisions and Resolutions, other than those derived from Decisions Nos. 40, 46, 56 and 94 which remain in force;

SEC. 101. (a) Section 5(b) (1) of the Trading With the Enemy Act 50 USC aPP. 5. is amended by striking out "or during any other period of national emergency declared by the President" in the text preceding subparagraph (A).

SEC. 42. (a) Paragraph (2) of subsection (b) of section 301 of the Federal Water Pollution Control Act is amended

in subparagraph (A), by striking out ''; and"' and inserting in lieu thereof a semicolon;

in subparagraph (13), by striking out the period and inserting in lieu thereof a semicolon; and

by adding at the end thereof the following new subparagraphs:

AGENCY: Industry and Trade Administration (formerly Domestic and Innational Business Administration), reau of Trade Regulation, Dcpartnt of Commerce.

The agency is amending the Restrictive Trade Practices or boycotts part of the Export Administion Regulations (Part 369, Tide 15, of Federal Regulations). The mges are being made to implement de II of the Export Administration lendments of 1977 (Pub. L. S5-52). turned into law on June 22, 1977. In leral, these regulations prohibit united States persons from complying each specified foreign boycott requirements, including the furnishing of boycott-related information.

The Treasury Department today issued new guidelines, consisting of questions and answers, relating to the provisions of the Tax Reform Act of 1976 which deny certain tax benefits for participation in or cooperation with international boycotts.

The new guidelines supersede earlier sets of guidelines issued November 4, 1976 (Treasury news release VVS-1156), December 30, 1976 (WS-1239), and August 12, 1977 (B-390). and published in the FEDERAL REGISTER on November 11, 1976, January 5, 1977, and August 17, 1977, respectively. The guidelines Issued today generally are effective for operations occurring after, requests received after, and agreements made after November 3, 1976. As qualified by the following exceptions, this effective date affords a retroactive benefit to taxpayers who can claim the advantage of any rule in today's guidelines which is more favorable than previous guidelines.

To amend the Securities Exchange Act of 1034 to make it unlawful for an issuer of securities registered pursuant to section 12 of such Act or an issuer required to file reports pursuant to section 15(d) of such Act to make certain payments to foreign officials and other foreign persons, to require such issuers to maintain accurate records, and for other purposes.