Page:United States Statutes at Large Volume 107 Part 2.djvu/830

 107 STAT. 1780 PUBLIC LAW 103-160—NOV. 30, 1993 Reports. President. (e) ELIGIBLE ORGANIZATION. —An organization is eligible for designation as the Demilitarization Enterprise Fund if the organization— (1) is a private, nonprofit organization; (2) is governed by a board of directors consisting of private citizens of the United States; and (3) provides assurances acceptable to the President that it will use grants received under this section to provide financial support in accordance with this section. (f) OPERATIONAL PROVISIONS.— The following provisions of section 201 of the Support for East European Democracy (SEED) Act of 1989 (Public Law 101-179; 22 U.S.C. 5421) shall apply with respect to the Demilitarization Enterprise Fund in the same manner as such provisions apply to Enterprise Funds designated pursuant to subsection (d) of such section: (1) Subsection (d)(5), relating to the private character of ^^1 Enterprise Funds. (2) Subsection (h), relating to retention of interest earned in interest bearing accounts. (3) Subsection (i), relating to use of United States private venture capital. (4) Subsection (k), relating to support from Executive agencies. (5) Subsection (1), relating to limitation on payments to Fund personnel. (6) Subsections (m) and (n), relating to audits. (7) Subsection (o), relating to record keeping requirements. (8) Subsection (p), relating to annual reports. In addition, returns on investments of the Demilitarization Enterprise Fund and other payments to the Fund may be reinvested in projects of the Fund. (g) EXPERIENCE OF OTHER ENTERPRISE FUNDS. — TO the maximum extent practicable, the Board of Directors of the Demilitarization Enterprise Fund should adopt for that Fund practices and procedures that have been developed by Enterprise Funds for which funding has been made available pursuant to section 201 of the Support for East European Democracy (SEED) Act of 1989 (Public Law 101-179; 22 U.S.C. 5421). (h) CONSULTATION REQUIREMENT. — In the implementation of this section, the Secretary of State and the Administrator of the Agency for International Development shall be consulted to ensure that the Articles of Incorporation of the Fiind (including provisions specifying the responsibilities of the Board of Directors of the Fund), the terms of United States Government grant agreements with the Fund, and United States Government oversight of the Fund are, to the maximum extent practicable, consistent with the Articles of Incorporation of, the terms of grant agreements with, and the oversight of the Enterprise Funds established pursuant to section 201 of the Support for East European Democracy (SEED) Act of 1989 (22 U.S.C. 5421) and comparable provisions of law. (i) INITIAL IMPLEMENTATION. —The Board of Directors of the Demilitarization Enterprise Fund shall publish the first annual report of the Fund not later than January 31, 1995. (j) TERMINATION OF DESIGNATION.—A designation of an organization as the Demilitarization Enterprise Fund under subsection (a) shall be temporary. When making the designation, the

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