Page:United States Statutes at Large Volume 100 Part 1.djvu/1126

 100 STAT. 1088

PUBLIC LAW 99-440—OCT. 2, 1986

guarantee of the obligation of another to repay an extension of funds or credit, including— (i) overdrafts, (ii) currency swaps, (iii) the purchase of debt or equity securities issued by the Government of South Africa or a South African entity on or after the date of enactment of this Act, (iv) the purchase of a loan made by another person, (v) the sale of financial assets subject to an agreement to repurchase, and (vi) a renewal or refinancing whereby funds or credits are transferred or extended to the Government of South Africa or a South African entity, and (B) does not include— (i) normal short-term trade financing, as by letters of credit or similar trade credits; (ii) sales on open account in cases where such sales ^' are normal business practice; or (iii) rescheduling of existing loans, if no new funds or credits are thereby extended to a South African entity or the Government of South Africa; (4) the term "new investment"— (A) means— (i) a commitment or contribution of funds or other assets, and (ii) a loan or other extension of credit, and (B) does not include— (i) the reinvestment of profits generated by a controlled South African entity into that same controlled South African entity or the investment of such profits in a South African entity; (ii) contributions of money or other assets where such contributions are necessary to enable a controlled South African entity to operate in an economically sound manner, without expanding its operations; or (iii) the ownership or control of a share or interest in a South African entity or a controlled South African entity or a debt or equity security issued by the Government of South Africa or a South African entity before the date of enactment of this Act, or the transfer or acquisition of such a share, interest, or debt or equity security, if any such transfer or acquisition does not result in a payment, contribution of funds or assets, or credit to a South African entity, a controlled South African entity, or the Government of South Africa; (5) the term "national of the United States" means— (A) a natural person who is a citizen of the United States or who owes permanent allegiance to the United States or is an alien lawfully admitted for permanent residence in the United States, as defined by section 101(a)(20) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(20)); or (B) a corporation, partnership, or other business association which is organized under the laws of the United States, any State or territory thereof, or the District of Columbia; (6) the term "South Africa" includes— „„,, (A) the Republic of South Africa;,f.,. i.,uF ' J

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