Page:United States Statutes at Large Volume 118.djvu/1135

 118 STAT. 1105 PUBLIC LAW 108–302—AUG. 17, 2004 to any person or circumstance, which is inconsistent with any law of the United States shall have effect. (2) CONSTRUCTION.—Nothing in this Act shall be construed— (A) to amend or modify any law of the United States, or (B) to limit any authority conferred under any law of the United States, unless specifically provided for in this Act. (b) RELATIONSHIP OF AGREEMENT TO STATE LAW.— (1) LEGAL CHALLENGE.—No State law, or the application thereof, may be declared invalid as to any person or cir cumstance on the ground that the provision or application is inconsistent with the Agreement, except in an action brought by the United States for the purpose of declaring such law or application invalid. (2) DEFINITION OF STATE LAW.—For purposes of this sub section, the term ‘‘State law’’ includes— (A) any law of a political subdivision of a State; and (B) any State law regulating or taxing the business of insurance. (c) EFFECT OF AGREEMENT WITH RESPECT TO PRIVATE REM EDIES.—No person other than the United States— (1) shall have any cause of action or defense under the Agreement or by virtue of congressional approval thereof; or (2) may challenge, in any action brought under any provi sion of law, any action or inaction by any department, agency, or other instrumentality of the United States, any State, or any political subdivision of a State, on the ground that such action or inaction is inconsistent with the Agreement. SEC. 103. IMPLEMENTING ACTIONS IN ANTICIPATION OF ENTRY INTO FORCE AND INITIAL REGULATIONS. (a) IMPLEMENTING ACTIONS.— (1) PROCLAMATION AUTHORITY.—After the date of the enact ment of this Act— (A) the President may proclaim such actions, and (B) other appropriate officers of the United States Government may issue such regulations, as may be necessary to ensure that any provision of this Act, or amendment made by this Act, that takes effect on the date the Agreement enters into force is appropriately imple mented on such date, but no such proclamation or regulation may have an effective date earlier than the date the Agreement enters into force. (2) EFFECTIVE DATE OF CERTAIN PROCLAIMED ACTIONS.— Any action proclaimed by the President under the authority of this Act that is not subject to the consultation and layover provisions under section 104 may not take effect before the 15th day after the date on which the text of the proclamation is published in the Federal Register. (3) WAIVER OF 15 DAY RESTRICTION.—The 15 day restriction in paragraph (2) on the taking effect of proclaimed actions is waived to the extent that the application of such restriction would prevent the taking effect on the date the Agreement enters into force of any action proclaimed under this section. 19 USC 3805 note.

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