Page:United States Statutes at Large Volume 55 Part 1.djvu/269

 244 PUBLIC LAWS-CH. 174-JUNE 6, 1941 [55 STAT. vided, upon such terms and conditions, for such period or periods, and subject to such restrictions as the Commission may deem neces- sary or desirable for the protection of the public interest, and at such rate of hire as it may deem to be fair and reasonable. Any depart- ment or agency of the United States Government is authorized to Receipts and dis enter into such charters. All moneys received by the Commission urseme. under the provisions of this subsection shall be deposited in the construction fund of the Commission, and all disbursements made by the Commission in carrying out the provisions of this subsection shall be paid from such fund. Insurance and re- (b) The Commission is authorized to provide such insurance and insurance. reinsurance with respect to vessels (including any interest of the owner or charterer) chartered, purchased, requisitioned, or the title to which or the possession of which is taken over, under this Act, as it may deem necessary in connection with the operation, use, or dis- position thereof under this Act, whenever it appears to the Com- mission that adequate and satisfactory insurance is not otherwise obtainable at reasonable rates and upon reasonable terms and condi- Marineasndwar-risk tions. The fund established pursuant to Public Resolution Num- bered 94, Seventy-sixth Congress, approved July 18, 1940 (54 Stat. Receipts. 766), shall be available for all purposes of this subsection; and all moneys received from premiums and from salvage or other recoveries and all receipts in connection with such insurance shall be deposited Disbursements. to the credit of such fund, and all disbursements made by the Com- mission in carrying out the provisions of this subsection, including the payment of return premiums and all liabilities incurred here- under, shall be paid from such fund. The provisions of sections 225 54 Stat. 690l691. and 226 (a) to (e), inclusive, of the Merchant Marine Act, 1936, 46 U1.S .C. § 11a eA, 1128e (a)-(e. as amended, shall be applicable in the administration of this subsection. SUat.s4.po8tp.44- (c) Nothing in this Act shall be construed to modify or affect any 457. provision of the Neutrality Act of 1939, as amended. by U.S . Maritime SEC. 4. Whenever the United States Maritime Commission is author- Commission. ized to charter vessels under section 3 hereof, it is further authorized, notwithstanding any other provision of law, to purchase any vessel, whether undocumented or documented under the laws of the United States or of a foreign country, deemed by the Commission to be suitable for transportation of foreign commerce of the United States or of commodities essential to the national defense, without regard to 41 U.S.C. . the provisions of section 3709 of the Revised Statutes, at such price and upon such terms and conditions as it may deem fair and reason- UCharter or opera- able and in the public interest. Such vessels and vessels otherwise acquired by or made available to the Commission may be chartered as provided in section 3 of this Act, or operated by the Commission upon such terms and conditions as it may deem desirable and in the public interest, giving primary consideration to the needs of national Restriction. defense; but no vessel constructed under the provisions of the Mer- 49 S tatCh. 271 . chant Marine Act, 1936, as amended, may be chartered to a private Receipts and dis- operator hereunder. All moneys received by the Commission under the provisions of this section shall be deposited in the construction fund of the Commission, and all disbursements made by the Commis- sion in carrying out the provisions of this section or section 5 (f) (except as provided in section 2) shall be paid from such fund. vementatson of SEC. 5. (a) Notwithstanding any other provision of law, during the effective period of section 3 of this Act, any vessel (except a 49 Stt 19 vessel constructed under the provisions of the Merchant Marine Act, 46u.s. c.h.27 . 1936, as amended), not documented under the laws of the United States, acquired by or made available to the Commission under this Act or otherwise, may (1) in the discretion of the Secretary of Com-

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