Page:United States Statutes at Large Volume 59 Part 1.djvu/532

 PUBLIC LAWS-CH. 339-JULY 31, 1945 Information con- cerning activities of designated agencies. the purposes of this Act or the purposes for which the Council is created. (c) The representatives of the United States on the Fund and the Bank, and the Export-Import Bank of Washington (and all other agencies of the Government to the extent that they make or participate in the making of foreign loans or engage in foreign financial, exchange or monetary transactions) shall keep the Council fully informed of their activities and shall provide the Council with such further infor- mation or data in their possession as the Council may deem necessary to the appropriate discharge of its responsibilities under this Act. CERTAIN ACTS NOT TO BE TAKEN WITHOUT AUTHORIZATION SEC. 5. Unless Congress by law authorizes such action, neither the President nor any person or agency shall on behalf of the United States (a) request or consent to any change in the quota of the United States under article III, section 2, of the Articles of Agreement of the Fund; (b) propose or agree to any change in the par value of the United States dollar under article IV, section 5, or article XX, section 4, of the Articles of Agreement of the Fund, or approve any general change in par values under article IV, section 7; (c) subscribe to additional shares of stock under article II, section 3, of the Articles of Agreement of the Bank; (d) accept any amendment under article XVII of the Articles of Agreement of the Fund or article VIII of the Articles of Agreement of the Bank; (e) make any loan to the Fund or the Bank. Unless Congress by law authorizes such action, no governor or alternate appointed to represent the United States shall vote for an increase of capital stock of the Bank under article II, section 2, of the Articles of Agreement of the Bank. DEPOSITORIES SEC. 6. Any Federal Reserve bank which is requested to do so by the Fund or the Bank shall act as its depository or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall super- vise and direct the carrying out of these functions by the Federal Reserve banks. PAYMENT OF SUBSCRIPTIONS 48 Stat. 342. SEC. 7. (a) Subsection (c) of section 10 of the Gold Reserve Act of v,l82.a c. supp. 1934, as amended (U. S . C ., title 31, sec. 822a), is amended to read as follows: Fund. "(c) The Secretary of the Treasury is directed to use $1,800,000,000 of the fund established in this section to pay part of the subscription of the United States to the International Monetary Fund; and any repayment thereof shall be covered into the Treasury as a miscellaneous receipt." Paymentofbalance. (b) The Secretary of the Treasury is authorized to pay the balance of $950,000,000 of the subscription of the United States to the Fund Bank. not provided for in subsection (a) and to pay the subscription of the United States to the Bank from time to tune when payments are use of U. . se en- required to be made to the Bank. For the purpose of making these rities. payments, the Secretary of the Treasury is authorized to use as a public-debt transaction not to exceed $4,125,000,000 of the proceeds 40 Stat. 288. of any securities hereafter issued under the Second Liberty Bond Act, Supp. iv, 754a et. as amended, and the purposes for which securities may be issued under Ae. pp. 47,48, 9. that Act are extended to include such purpose. Payment under this subsection of the subscription of the United States to the Fund or the Bank and repayments thereof shall be treated as public-debt trans- actions of the United States [59 STAT.

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