Page:United States Statutes at Large Volume 68 Part 1.djvu/514

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PUBLIC LAW 497-JULY 15, 1954

[68 S T A T *

(b) After consultation with the Secretary of Defense it is determined that the sale of such vessels would not adversely affect the defense of the United States; (c) After investigation it is determined that there are no privately owned C l - M A V - 1 type vessels offered and available for sale by American citizens as defined in section 2 of the Shipping Act, 1916, as amended, at prices equal to or less than, and upon credit terms similar to, those provided for below; (d) The sale of such vessels shall be at prices determined under 60 Stat. 41. 50 USC app section 3 of the Merchant Ship Sales Act, 1946, as amended, as-is, 1736. where-is; (e) At the time of sale the purchasers shall pay at least 25 per centum of the price determined under subsection (d). The Secretary of Commerce, after consultation with the National Advisory Council on International Monetary and Financial Problems, shall fix the terms of payment on unpaid balances, which terms shall in no event be more favorable than the terms applicable in the case of sales to citizens of the United States; (f) The obligation of the purchasers with respect to the payment of such unpaid balance of the purchase price and interest thereon shall be secured by a mortgage which shall contain, among others, provisions according to such mortgage, the priorities over other liens and encumbrances accorded such mortgages on merchant vessels under the laws of the country to which the registry of the vessels is transferred; and (g) Every transfer under the authority of this Act, including transfers under the authority of section 9, or section 37, of the Snipping Stat 9^1** ^^^' *° ^^^^ 1916, within the intent of subsection (c) hereof, shall be subject 46 USC*808, 835. to an agreement by the Government of Brazil that the vessels whether under mortgage to the United States or not shall not engage in international trade or in other than the coastwise trade of Brazil. Approved July 15, 1954. Public Law 497 July 15, 1954 [S.2728]

CHAPTER 509

AN ACT To authorize the collection of indebtedness of military and civilian personnel resulting from erroneous payments, and for other purposes.

Be it enacted by the Senate and House of Representatives of the F^*^*em"'io''^M'* United /States of America in Congress assembled, That, when it is s'^i^y "deductfon determined by the Secretary of the department concerned or the head menu'°"*°"° ^^^ of the agency or independent establishment concerned, or one of their designees, that an employee of the United States or any member of the Army, Navy, Air Force, Marine Corps, or Coast Guard, or a reserve component thereof, is indebted to the United States as the result of any erroneous payment made by the department, agency, or independent establishment concerned to or on behalf of any such person, the amount of the indebtedness may be collected in monthly installments, or at officially established regular pay period intervals, by deduction in reasonable amounts from the current pay account of such person. The deductions may be made only from basic compensation, basic pay, special pay, and incentive pay, retired pay, retainer pay, or in the case of persons not entitled to basic pay, other authorized pay. Collection shall be eflPected over a period not greater than the anticipated period of active duty or period of employment, as the case may be. The amount deducted for any period shall not exceed an amount equal to two-thirds of the pay from which the deduction is made, unless the

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