Page:United States Statutes at Large Volume 63 Part 3.djvu/264

 2568 0oStat. 754. 50U.S.C.spp. (1641 (b). Expenditures; an- nual budget. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [63 STAT. (6) Recommend to the Board of Foreign Scholarships, provided for in the United States Surplus Property Act of 1944, as amended, students, professors, research scholars, residents in the Netherlands, Surinam, and the Netherlands West Indies, and institutions of the Netherlands, Surinam, and the Netherlands West Indies qualified to participate in the program in accordance with the aforesaid Act. (7) Recommend to the aforesaid Board of Foreign Scholar- ships such qualifications for the selection of particip- ants in the programs as it may deem necessary for achieving the purpose and objectives of the Foundation. (8) Provide for periodic audits of the accounts of the Foundation as directed by auditors selected by the Secretary of State of the United States of America. (9) Engage administrative and clerical staff and fix the salaries and wages thereof. Article I All expenditures by the Foundation shall be made pursuant to an annual budget to be approved by the Secretary of State of the United States of America pursuant to such regulations as he may prescribe. Article 4 The Foundation shall not enter into any commitments or create any obligation which shall bind the Foundation in excess of the funds actually on hand nor acquire, hold, or dispose of property except for the purposesauthorized in the present Agreement.

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