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PUBLIC LAW 163-JULY 30, 1953

[67

ST A T,

States such citizen and spouse will legally adopt him in the United States and will care for him properly; and (3) who is ineligible for admission into the United States solely because the nonpreference portion of the quota to which he would otherwise be chargeable is oversubscribed by applicants registered on the consular waiting list at the time his visa application is made. SEC. 3. No natural parent of any eligible orphan who shall be admitted into the United States pursuant to this Act shall thereafter, by virtue of such parentage, be accorded any right, privilege, or status under the Immigration and Nationality Act. SEC. 4. Any eligible orphan granted a visa under this Act shall be deemed a nonquota immigrant for the purposes of the Immigration and Nationality Act. Approved July 29, 1953. CHAPTER 282

Public Law 163 July 30, 1953 [H. R. 5141]

AN ACT To dissolve the Reconstruction Finance Corporation, to establish the Small Business Administration, and for other purposes.

Be it enacted by the Senate and Uoune of Representatives United /States of America in Congress assembled,

of the

TITLE I RFC Liquidation Act. Succession. 62 Stat. 262.

Loans, termination. 62 Stat. 265.

Procedure.

61 Stat. 205. 15 USC 608, 609. Administrative expenses.

59 Stat. 597. 31 USC 841 note. Tin-smelting industry. 50 USC 98 note.

SEC. 101. This title may be cited as the "Reconstruction Finance Corporation Liquidation Act". SEC. 102. (a) The first sentence of section 3(a) of the Reconstruction Finance Corporation Act, as amended (15 U.S.C. 603 (a)), is amended by striking out "June 30, 1956"' and inserting in lieu thereof "June 30, 1954". (b) Subsection (f) of section 4 of the Reconstruction Finance Corporation Act, as amended (15 U.S.C. 604 (f)), is amended by striking out "June 30, 1954" and inserting in lieu thereof "the sixtieth day after the date of enactment of the Reconstruction Finance Corporation Liquidation Act". (c) Except as otherwise provided in this title, the liquidation of assets and winding up of affairs of the Reconstruction Finance Corporation shall be carried out as expeditiously as possible in accordance with the provisions of sections 9 and 10 of the Reconstruction Finance Corporation Act. (d) The Secretary of the Treasury is authorized to incur and pay out of the funds of the Corporation all administrative expenses necessary to carry out the functions vested in him. as a result of the enactment of this title. Such expenses shall be limited to and charged against amounts made available to the Corporation or to the Secretary of the Treasury in appropriation Acts for applicable administrative expenses, which amounts shall not include any sums transferred to an officer or agency of the Government, other than the Secretary of the Treasury. The activities engaged in by the Secretary of the Treasury as a result of the enactment of this Act shall continue to be subject to the provisions of the Government Corporation Control Act. SEC. 103. Section 2 of the joint resolution entitled "Joint resolution to strengthen the common defense and to meet industrial needs for tin by providing for the maintenance of a domestic tin-smelting inindustry", approved June 28, 1947 (61 Stat. 190), is amended by striking out "the Reconstruction Finance Corporation while that Corporation has succession, and thereafter by".

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