Page:United States Statutes at Large Volume 69.djvu/256

 214

PUBLIC LAW 112-JUNE 30, 1955

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accrual basis, and shall be exclusive of interest paid, expenses (including expenses for fiscal agency services performed on a contract or fee basis) in connection with the issuance and servicing of obligations, depreciation, properly capitalized expenditures, fees for servicing mortgages, expenses (including services performed on a force account, contract, or fee basis, but not including other personal services) in connection with the acquisition, protection, operation, maintenance, improvement, or disposition of real or personal property belonging to said Association or in which it has an interest, cost of salaries, wages, travel, and other expenses of persons employed outside of the continental United States, expenses of services performed on a contract or fee basis in connection with the performance of legal services, and all administrative expenses reimbursable from other Government agencies; and said Association may utilize and may make payment for services and facilities of the Federal Reserve banks and other agencies of the Government: Provided, That the distribution of administrative expenses to the accounts of the Association shall be made in accordance with generally recognized accounting principles and practices: Provided further, That not to exceed $90,000 shall be available for expenses of travel: Provided further. That administrative expenses not under limitation for the purposes set forth in the budget schedules for the fiscal year 1956 shall not exceed $150,000. Home Loan Bank Board: Not to exceed a total of $920,000 shall be available for administrative expenses of the Home I ^ a n Bank Board, and shall be derived from funds available to the Home Loan Bank Board, including those in the Home Loan Bank Board revolving fund and receipts of the Federal Home I ^ a n Bank Administration, the Federal Home Loan Bank Board, or the Home Loan Bank Board for the current fiscal year and prior fiscal years, and the Board may utilize and may make payment for services and facilities of the Federal home-loan banks, the Federal Reserve banks, the Federal Savings and Loan Insurance Corporation, and other agencies of the Government: Provided, That all necessary expenses m connection with the conservatorship of institutions insured by the Federal Savings and Loan Insurance Corporation and all necessary expenses (including services performed on a contract or fee basis, but not including other personal services) in connection with the handling, including the purchase, sale, and exchange, of securities on behalf of Federal home-loan banks, and the sale, issuance, and retirement of, or payment of interest on, debentures or bonds, under the Federal Home Loan Bank Act, as amended, shall be considered as nonadministrative expenses for the purposes hereof: Provided further, That not to exceed $42,400 shall be available for expenses of travel: Provided further, That members of the Federal Savings and Loan Advisory Council shall be entitled to reimbursement from the Board for transportation expenses incurred in attendance at meetings of such Council and may be paid not to exceed $25 per diem in lieu of subsistence: Provided further, That notwithstanding any other rovisions of this Act, except for the limitation in amount hereinefore specified, the administrative expenses and other obligations of the Board shall be incurred, allowed, and paid in accordance with the provisions of the Federal Home Loan Bank Act of July 22, 1932, as amended (12 U.S.C. 1421-1449): Provided further, That the nonadministrative expenses for the examination of Federal and State chartered institutions shall not exceed $2,995,000. Federal Savings and Loan Insurance Corporation: Not to exceed $985,000 shall be available for administrative expenses, which shall be on an accrual basis and shall be exclusive of interest paid, depreciation, properly capitalized expenditures, expenses in connection with liquidation of insured institutions, liquidation or handling of

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