Page:United States Statutes at Large Volume 101 Part 3.djvu/415

 PUBLIC LAW 100-233—JAN. 6, 1988

101 STAT. 1713

election committee of the district where the election will be held"; (B) by striking out "Farm Credit Administration" each place it appears thereafter and inserting in lieu thereof "district election committee"; and (C) by striking out "(b)" and inserting in lieu thereof "(c)"; and (3) by redesignating subsections (b), (c), and (d), as subsections (c), (d), and (e), respectively, and inserting after subsection (a) the following: "(b) Each district board shall designate a district election committee. No member of such district election committee shall be a candidate for election to the district board. The responsibilities and authorities of the district election committee, delegated by the district board, shall be those set forth in this section.". (v)

FARM CREDIT ADMINISTRATION, POWERS.—Section 5.17

(12

U.S.C. 2251) is amended— 12 USC 2252. (1) in subsection (a)— (A) in paragraph (2), by striking out "amend or modify" and inserting in lieu thereof "approve amendments to"; and (B) in paragraph (5), by striking out "that meet standards and criteria" and all that follows through "refunds by Farm Credit System institutions"; and (2) by redesignating subsections (b) and (c) as subsections (c) and (d), respectively, and by inserting after subsection (a) the following: "(b) The Farm Credit Administration shall not have authority, either direct or indirect, to approve bylaws, or any amendments or modifications or changes to bylaws, of System institutions.". (w) TRANSITION RULES RELATING TO AMENDMENT OF CERTAIN F C A APPROVAL AUTHORITIES.—Part D of title V (12 U.S.C. 2001 note, et

seq.) is amended by adding at the end thereof the following new section: "SEC. 5.45. TRANSITION RULES RELATING TO AMENDMENT OF CERTAIN FCA APPROVAL AUTHORITIES.

"(a) IN GENERAL.—Any approvals granted by the Farm Credit Administration before the date of the enactment of this section shall remain in effect on and after such date. "(b) AUTHORITY TO ISSUE REGULATIONS.—

"(1) IN GENERAL.—Any approval authority of the Farm Credit Administration that, under the amendments made by section 802 of the Agricultural Credit Act of 1987, became an authority to issue regulations may be exercised only until the earlier of the date the Farm Credit Administration issues final regulations under such authority, or 1 year after the date of the enactment of this section. "(2) ENFORCEMENT ACTIONS.—At the close of the 1-year period referred to in paragraph (1), the Farm Credit Administration shall not take any enforcement action against any System institution with respect to any provision so amended, until the Farm Credit Administration issues final regulations under such provision. "(c) EFFECT OF SECTION.—This section shall not affect the authority of the Farm Credit Administration to exercise any other approval authority either on a case-by-case basis or through regulation, as provided in section 5.17(a)(5).".

12 USC 2275a.

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