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62 Stat. 143. 22 USC 1508 (a) (2).

62 Stat. 13. 22 USC 1 4 3 1, 1434-1440.

PUBLIC LAW 665-AUG. 26, 1954

[68

STAT.

(c) No person in the service or employment of the United States or otherwise performing functions under an Act repealed by section 542 or under section 408 shall be required to be reappointed or reemployed by reason of the entry into force of this Act, except that appointments made pursuant to section 110(a)(2) of the Economic Cooperation Act of 1948, as amended, shall be converted to appointments under section 527(c) of this Act. SEC. 544. AMENDMENTS TO OTHER LAWS.—(a) Title X of the United States Information and Educational Exchange Act of 1948, as amended (22 U.S.C. 1431), is amended by adding the following new section: "INFORMATIONAL MEDIA GUARANTIES

62 Stat. 146. 22 USC 1509(c) (2).

Repeal. 63 Stat. 685. 22 USC 2 8 1 b, 281b-1. Institute of InterAmerican Affairs. 61 Stat. 780.

42 Stat. 20. 59 Stat. 597.

"SEC. 1011. The Director of the United States Information Agency may make guaranties, in accordance with the provisions of subsection (b) of section 413 of the Mutual Security Act of 1954, of investments in enterprises producing or distributing informational media consistent with the national interests of the United States against funds heretofore made available by notes issued to the Secretary of the Treasury pursuant to section 111(c)(2) of the Economic Cooperation Act of 1948, as amended, for purposes of guaranties of investments: Provided, however, That the amount of such guaranties in any fiscal year shall be determined by the President but shall not exceed $10,000,000." (b) Section 1 of Public Law 283, Eighty-first Congress, is repealed. The Institute of Inter-American Affairs, created pursuant to Public Law 369, Eightieth Congress (22 U.S.C. 281), shall have succession until June 30, 1960, and may make contracts for periods not to exceed five years: Provided, That any contract extending beyond June 30, 1960, shall be made subject to termination by the said Institute upon notice: And provided further. That the said Institute shall, on and after July 1, 1954, be subject to the applicable provisions of the Budget and Accounting Act, 1921, as amended (31 U.S.C. 1), in lieu of the provisions of the Government Corporation Control Act, as amended (31 U.S.C. 841). SEC. 545. DEFINITIONS.—For the purposes of this Act— (a) The term "commodity" includes any commodity, material, article, supply, or goods. (b) The term "surplus agricultural commodit;^" means any agricultural commodity or product thereof, class, kind, type, or other specification thereof, produced in the United States either publicly or privately owned, which is in excess of domestic requirements, adequate carryover, and anticipated exports for dollars, as determined by the Secretary of Agriculture. (c) The terms "equipment" and "materials" shall mean any arms, ammunition, or implements of war, or any other type of material, article, raw material, facility, tool, machine, supply or item that would further the purpose of chapter 1 of title I, or any component or part thereof, used or required for use in connection therewith, or required in or for the manufacture, production, processing, storage, transportation, repair, or rehabilitation of any equipment or materials, but shall not include merchant vessels. (d) The term "mobilization reserve", as used with respect to any equipment or materials, means the quantity of such equipment or materials determined by the Secretary of Defense under regulations prescribed by the President to be required to support mobilization of the Armed Forces of the United States in the event of war or national emergency until such time as adequate additional quantities of such equipment or materials can be procured.

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