Page:United States Statutes at Large Volume 112 Part 4.djvu/250

 112 STAT. 2681-221 PUBLIC LAW 105-277—OCT. 21, 1998 (c) QUALIFICATIONS.— (1) EXPERTISE.— Members of the Commission shall be appointed from among those with knowledge and expertise in the workings of the international financial institutions (as defined in section 1701(c)(2) of the International Financial Institutions Act), the World Trade Organization, and the Bank for International Settlements. (2) FORMER AFFILIATION.— At least 4 members of the Commission shall be individuals who were officers or employees of the Executive Branch before January 20, 1992, and not more than half of such 4 members shall have served under Presidents from the same political party. (d) PERIOD OF APPOINTMENT; VACANCIES.—Members shall be appointed for the life of the Commission. Any vacancy in the Commission shall be filled in the same manner as the original appointment was made. (e) DUTIES OF THE COMMISSION. —The Commission shall advise and report to the Congress on the future role and responsibilities of the international financial institutions (as defined in section 1701(c)(2) of the International Financial Institutions Act), the World Trade Organization, and the Bank for International Settlements. In csirrying out such duties, the Commission shall meet with and advise the Secretary of the Treasury or the Deputy Secretary of the Treasury, and shall examine— (1) the effect of globalization, increased trade, capital flows, and other relevant factors on such institutions; (2) the adequacy, efficacy, and desirability of current policies and programs at such institutions as well as their suitability for respective beneficiaries of such institutions; (3) cooperation or duplication of functions and responsibilities of such institutions; and (4) other matters the Commission deems necessary to make recommendations pursuant to subsection (g). (f) POWERS AND PROCEDURES OF THE COMMISSION.— (1) HEARINGS. —The Commission or, at its direction, any panel or member of the Commission may, for the purpose of carrying out the provisions of this section, hold hearings, sit and act at times and places, take testimony, receive evidence, and administer oaths to the extent that the Commission or any panel or member considers advisable. (2) INFORMATION.— The Commission may secure directly information that the Commission considers necessary to enable the Commission to carry out its responsibilities under this section. (3) MEETINGS. — The Commission shall meet at the call of the Chairman. (g) REPORT.— On the termination of the Commission, the Commission shall submit to the Secretary of the Treasury and the appropriate committees a report that contains recommendations regarding the following matters: (1) Changes to policy goals set forth in the Bretton Woods Agreements Act and the International Financial Institutions Act. (2) Changes to the chsirters, orgsuiizational structures, policies and programs of the international financial institutions (as defined in section 1701(c)(2) of the International Financial Institutions Act).

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