Page:United States Statutes at Large Volume 53 Part 1.djvu/648

 APPENDIX losses resulting from such operation, and comply with the terms imposed by the court, and such vessel shall be considered to be a vessel of the United States within the meaning of the Suits in Admiralty Act. The Commission shall have no claim against the corporation, its estate, or its assets for the amount of such payments, but the Commission may pay such sums for deprecia- tion as it deems reasonable and such other sums as the court may deem just. The payment of such sums, and compliance with other terms duly imposed by the court, together with the payment of the operating losses, shall be in satisfaction of all claims against the Commission on account of the operation of such vessels. SEC. 703. No injunction powers vested in the courts of bankruptcy under the Act entitled "An Act to establish a uniform system of bankruptcy throughout the United States," approved July 1, 1898, and Acts amendatory thereof and supplementary thereto, shall be construed or be deemed to affect or apply to the United States as a creditor under a preferred ship mortgage, as defined in the Ship Mortgage Act, 1920, as amended, unless the Commission files with the court a written waiver of the provisions of this section." SEO. 2. (a) Any farmer who filed a petition under section 75 of the Act entitled "An Act to establish a uniform system of bankruptcy throughout the 'United States," approved July 1, 1898, as amended, and in whose case a bankruptcy court has, under subsection (s) thereof, granted a stay of proceedings may, if the period for which such stay was granted has expired or is about to expire, make application to such court for an extension of such stay. If the court finds that such farmer has substantially complied with the provisions of paragraph (2) of subsection (s) of section 75 of such Act, as amended, during the period of such stay, the court may extend the period of such stay to November 1, 1969. (b) The second sentence of subsection (b) of section 75 of such Act, as amended, is amended to read as follows: "The conciliation commissioner shall receive as compensation for his services a fee of $25 for each case submitted to him, to be paid out of the Treasury when the conciliation commissioner completes the duties assigned to him by the court" SEC. 3 . (a) The Act entitled "An Act to establish a uniform system of bank- ruptcy throughout the United States," approved July 1, 1898, as amended by the Act of August 16, 1937 (50 Stat. 653), is hereby further amended by striking out the heading "Chapter X" before section 81 of said Act and inserting in lieu thereof "Chapter IX." (b) Section 83 of such chapter IX is amended by adding at the end thereof the following new subsection: "(j) The partial completion or execution of any plan of composition as outlined in any petition filed under the terms of this Act by the exchange of new evi- dences of indebtedness under the plan for evidences of indebtedness covered by the plan, whether such partial completion or execution of such plan of com- position occurred before or after the filing of said petition, shall not be construed as limiting or prohibiting the effect of this Act, and the written consent of the holders of any securities outstanding as the result of any such partial completion or execution of any plan of composition shall be included as consenting creditors to such plan of composition in determining the percentage of securities affected by such plan of composition." SEO. 4 . Section 76 of the Act entitled "An Act to establish a uniform system of bankruptcy throughout the United States," approved July 1, 1898, as amended, is hereby repealed. Except to the extent necessary to give effect to the provisions of section 6 of this amendatory Act, all Acts or parts of Acts inconsistent with any provisions of this amendatory Act are hereby repealed. SEa. 5 . SEVEBAHLITT; HEADINGS.-a . If any provision of this amendatory Act or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this amendatory Act which can be given effect without the invalid provision or application, and to this end the provisions of this amendatory Act are declared to be severable. b. Sections and subdivision headings shall not be taken to govern or limit the scope of the sections or subdivisions to which they relate. SEc. 6. EFrECT or THIS AMENDATOBY Acrr.-a . Nothing herein contained shall have the effect to release or extinguish any penalty, forfeiture, or liability in- curred under any Act or Acts of which this Act is amendatory. b. Except as otherwise provided in this amendatory Act, the provisions of this amendatory Act shall govern proceedings so far as practicable in cases pending when it takes effect; but proceedings in cases then pending to which the provisions of this amendatory Act are not applicable shall be disposed of conformably to the provisions of said Act approved July 1, 1898 and the Acts amendatory thereof and supplementary thereto. SEC. 7. This amendatory Act shall take effect and be in force on and after three months from the date of its approval. CXLIII

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