Page:United States Statutes at Large Volume 67.djvu/673

 67 STAT.]

637

REORGANIZATION PLANS OF 1953

REORGANIZATION PLAN NO. 5 OF 1953 Prepared by the President and transmitted to the Senate and the House of Representatives in Congress assembled, April 30, 1953, pursuant to the provisions of the Reorganization Act of 1949, approved June 20, 1949, as amended. THE EXPORT-IMPORT B A N K OF WASHINGTON

1. The Managing Director.—There is hereby estabhshed the office of Managing Director of the Export-Import Bank of Washington, hereinafter referred to as the Managing Director. The Managing Director 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. SEC. 2. Deputy Director.—There is hereby established the office of Deputy Director of the Export-Import Bank of Washington. The Deputy Director shall be appointed by the President by and with the advice and consent of the Senate, shall receive compensation at the rate of $16,000 per annum, shall perform such functions as the Managing Director may from time to time prescribe, and shall act as Managing Director during the absence or disability of the Managing Director or in the event of a vacancy in the office of Managing Director. SEC. 3. Assistant Director.—There is hereby established the office of Assistant Director of the Export-Import Bank of Washington. The Assistant Director shall be appointed by the Managing Director under the classified civil service, shall receive compensation at the rate now or hereafter fixed by law for Grade GS-18 of the general schedule established by the Classification Act of 1949, as amended, and shall perform such functions as the Managing Director may from time to time prescribe. SEC. 4. Functions transferred to the Managing Director.—All functions of the Board of Directors of the Export-Import Bank of Washington are hereby transferred to the Managing Director. SEC. 5. General policies.—The National Advisory Council on International Monetary and Financial Problems shall from time to time establish general lending and other financial policies which shall govern the Managing Director in the conduct of the lending and other financial operations of the Bank. SEC. 6. Performance of transferred functions.—The Managing Director may from time to time make such provisions as he deems appropriate authorizing the performance of any of the functions of the Managing Director by any other officer, or by any agency or employee, of the Bank. SEC. 7. Abolitions.—The following are hereby abolished: (1) The Board of Directors of the Export-Import Bank of Washington, including the offices of the members thereof provided for in section 3(a) of the Export-Import Bank Act of 1945, as amended; (2) the Advisory Board of the Bank, together with the functions of the said Advisory Board; and (3) the function of the Chairman of the Board of Directors of the Export-Import Bank of Washington of being a

Transmitted Apr. 30, 1953. Eflective June 1953. 63 Stat. 203. 5 USC 133z note

SECTION

27000 O - 53 - 43

63 Stat. 966. 5 USC Ills.

59 Stat. 527. 12 USC 635a.

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