Page:United States Statutes at Large Volume 104 Part 5.djvu/122

 104 STAT. 3444 PUBLIC LAW 101-624—NOV. 28, 1990 Regulations. "(B) PREVAILING WORLD MARKET PRICE.— The Secretary shall prescribe by regulation— "(i) a formula to define the prevailing world market price for rice; and "(ii) a mechanism by which the Secretary shall announce periodically the prevailing world market price for rice. "(C) PRODUCER PURCHASE OF MARKETING CERTIFICATES. — "(i) IN GENERAL.— As a condition of permitting a producer to repay a loan as provided in subparagraph (A), the Secretary may require a producer to purchase marketing certificates equal in value to an amount that does not exceed one-half the difference, as determined by the Secretary, between the amount of the loan obtained by the producer and the amount of the loan repayment. "(ii) REDEMPTION FOR RICE OR CASH.—The certificates shall be redeemable for agricultural commodities owned by the Commodity Credit Corporation valued at the prevailing market price, as determined by the Secretary or for cash, under such terms and conditions as the Secretary may prescribe. " (iii) REDEMPTION, MARKETING, OR EXCHANGE. —The Commodity Credit (Corporation, under regulations prescribed by the Secretary, shall assist any person receiving marketing certificates under this subparagraph in the redemption or marketing or exchange of the certificates at such times, in such manner, and at such price levels as the Secretary determines will best effectuate the purposes of the program established under this section. "(iv) CHARGES. — If any such certificate is not presented for redemption or marketing within a reasonable number of days after issuance, as determined by the Secretary, reasonable costs of storage and other carrying charges, as determined by the Secretary, shall be deducted from the value of the certificate for the period beginning after the reasonable number of days and ending with the date of the presentation of the certificate to the Commodity Credit Corporation. "(v) DESIGNATION OF COMMODITIES AND PRODUCTS. — Insofar as practicable, the Secretary shall permit owners of certificates to designate the commodities and the products thereof, including storage sites thereof, the owners would prefer to receive in exchange for certificates. "(vi) SALES PRICE RESTRICTIONS. —Notwithstanding any other provision of law, any price restrictions that may otherwise apply to the disposition of agricultural commodities by the Commodity Credit (jorporation shall not apply to the redemption of certificates under this subparagraph. "(vii) DISPLACEMENT. — The Secretary shall take such measures as may be necessary to prevent the marketing or exchange of agricultural commodities and the products thereof for certificates under this subpara-

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