Page:United States Statutes at Large Volume 62 Part 1.djvu/169

 62 STAT.] 80TH CONG., 2D SESS.- CH. 169-APR. 3, 1948 (b) There shall be in the Administration a Deputy Administrator for Economic Cooperation who shall be appointed by the President, by and with the advice and consent of the Senate, and shall receive compensation at the rate of $17,500 per annum. The Deputy Admin- istrator for Economic Cooperation shall perform such functions as the Administrator shall designate, and shall be Acting Adminis- trator for Economic Cooperation during the absence or disability of the Administrator or in the event of a vacancy in the office of Administrator. (c) The President is authorized, pending the appointment and qualification of the first Administrator or Deputy Administrator for Economic Cooperation appointed hereunder, to provide, for a period of not to exceed thirty days after the date of enactment of this Act, for the performance of the functions of the Administrator under this title through such departments, agencies, or establishments of the United States Government as he may direct. In the event the Presi- dent nominates an Administrator or Deputy Administrator prior to the expiration of such thirty-day period, the authority conferred upon the President by this subsection shall be extended beyond such thirty- day period but only until an Administrator or Deputy Administrator qualifies and takes office. (d) (1) The Administrator, with the approval of the President, is hereby authorized and empowered to create a corporation with such powers as the Administrator may deem necessary or appropriate for the accomplishment of the purposes of this title. (2) If a corporation is created under this section- (i) it shall have the power to sue and be sued, to acquire, hold, and dispose of property, to use its revenues, to determine the character of any necessity for its obligations and expenditures and the manner in which they shall be incurred, allowed and paid, and to exercise such other powers as may be necessary or appropri- ate to carry out the purposes of the corporation; (ii) its powers shall be set out in a charter which shall be valid only when certified copies thereof are filed with the Secretary of the Senate and the Clerk of the House of Representatives and published in the Federal Register, and all amendments to such charter shall be valid only when similarly filed and published; (iii) it shall not have succession beyond June 30, 1952, except for purposes of liquidation, unless its life is extended beyond such date pursuant to Act of Congress; and (iv) it shall be subject to the Government Corporation Con- trol Act to the same extent as wholly owned Government corpora- tions listed in section 101 of such Act. (3) All capital stock of the corporation shall be of one class, be issued for cash only, and be subscribed for by the Administrator. Payment for such capital stock shall be made from funds available for the purposes of this title. (e) Any department, agency, or establishment of the Government (including, whenever used in this title, any corporation which is an instrumentality of the United States) performing functions under this title is authorized to employ, for duty within the continental limits of the United States, such personnel as may be necessary to carry out the provisions and purposes of this title, and funds available pursuant to section 114 of this title shall be available for personal services in the District of Columbia and elsewhere without regard to section 14 (a) of the Federal Employees Pay Act of 1946 (60 Stat. 219). Of such personnel employed by the Administration, not to exceed one hundred may be compensated without regard to the pro- visions of the Classification Act of 1923, as amended, of whom not more 139 Deputy Adminis- trator. Interim authority of the President. Creation of corpora- tion. Powers, etc. 69 Stat. 697. 31U.S.C.II841- 869; Supp. I, f 846 note, 849. Pout, p. 1283. Capital stock. Employment of per- sonnel. Post, p. 149. 5U.S.C.I 47 g). 42 Stat. 1488 . 5 U. S.C . if661-674.

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