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ARTICLE 106

1 . EACH MEMBER STATE UNDERTAKES TO AUTHORISE , IN THE CURRENCY OF THE MEMBER STATE IN WHICH THE CREDITOR OR THE BENEFICIARY RESIDES , ANY PAYMENTS CONNECTED WITH THE MOVEMENT OF GOODS , SERVICES OR CAPITAL , AND ANY TRANSFERS OF CAPITAL AND EARNINGS , TO THE EXTENT THAT THE MOVEMENT OF GOODS , SERVICES , CAPITAL AND PERSONS BETWEEN MEMBER STATES HAS BEEN LIBERALISED PURSUANT TO THIS TREATY .

THE MEMBER STATES DECLARE THEIR READINESS TO UNDERTAKE THE LIBERALISATION OF PAYMENTS BEYOND THE EXTENT PROVIDED IN THE PRECEDING SUBPARAGRAPH , IN SO FAR AS THEIR ECONOMIC SITUATION IN GENERAL AND THE STATE OF THEIR BALANCE OF PAYMENTS IN PARTICULAR SO PERMIT .

2 . IN SO FAR AS MOVEMENTS OF GOODS , SERVICES , AND CAPITAL ARE LIMITED ONLY BY RESTRICTIONS ON PAYMENTS CONNECTED THEREWITH , THESE RESTRICTIONS SHALL BE PROGRESSIVELY ABOLISHED BY APPLYING , MUTATIS MUTANDIS , THE PROVISIONS OF THE CHAPTERS RELATING TO THE ABOLITION OF QUANTITATIVE RESTRICTIONS , TO THE LIBERALISATION OF SERVICES AND TO THE FREE MOVEMENT OF CAPITAL .

3 . MEMBER STATES UNDERTAKE NOT TO INTRODUCE BETWEEN THEMSELVES ANY NEW RESTRICTIONS ON TRANSFERS CONNECTED WITH THE INVISIBLE TRANSACTIONS LISTED IN ANNEX III TO THIS TREATY .

THE PROGRESSIVE ABOLITION OF EXISTING RESTRICTIONS SHALL BE EFFECTED IN ACCORDANCE WITH THE PROVISIONS OF ARTICLES 63 TO 65 , IN SO FAR AS SUCH ABOLITION IS NOT GOVERNED BY THE PROVISIONS CONTAINED IN PARAGRAPHS 1 AND 2 OR BY THE CHAPTER RELATING TO THE FREE MOVEMENT OF CAPITAL .

4 . IF NEED BE , MEMBER STATES SHALL CONSULT EACH OTHER ON THE MEASURES TO BE TAKEN TO ENABLE THE PAYMENTS AND TRANSFERS MENTIONED IN THIS ARTICLE TO BE EFFECTED ; SUCH MEASURES SHALL NOT PREJUDICE THE ATTAINMENT OF THE OBJECTIVES SET OUT IN THIS CHAPTER .