Page:United States Statutes at Large Volume 69.djvu/327

 69 S T A T. ]

PUBLIC LAW 138-JULY 8, 1955

"(d) In providing assistance in the procurement of commodities in the United States, United States dollars shall be made available for marine insurance on such commodities where such insurance is placed on a competitive basis in accordance with normal trade practice prevailing prior to the outbreak of World W a r II: Provided, That in the event a participating country, by statute, decree, rule, or regulation, discriminates against any marine insurance company authorized to do business in any State of the United States, then commodities purchased with funds provided hereunder and destined for such count r y shall be insured in the United States against marine risk with a company or companies authorized to do a marine insurance business in any State of the United States." SEC, 5. Title I, chapter 4, of the Mutual Security Act of 1954, which relates to general provisions relating to mutual defense assistance, is amended by changing section 142, which relates to agreements, as follows: After "SEC. 142. AGREEMENTS.—" insert" (a) "; in paragraph 10 strike out the comma and the word "or" where they appear after the phrase "any such assistance", and insert in lieu thereof "and"; strike out the word "and" at the end of paragraph (10) and change the semicolon preceding that word to a period; and change the portion of paragraph (11) preceding subparagraph (i) thereof to read as follows: " (b) I n cases where any commodity is to be furnished on a grant basis under chapter 2 or chapter 3 of title I or under title II of this Act under arrangements which will result in the accrual of proceeds to the recipient nation from the import or sale thereof, such assistance shall not be furnished unless the recipient nation shall have agreed to establish a special account, and—". SEC. 6. Title II of the Mutual Security Act of 1954, which relates to development assistance, is amended as follows: (a)(1) In section 201(a), which relates to authorization, strike out "South Asia" in paragraph 2 and insert "Asia"; before the period in paragraph 3 insert "and to assist in maintaining economic and political stability in the area"; and in lieu of the last sentence insert the following: "Such assistance may be furnished on such terms and conditions as the President may specify and shall emphasize loans rather than grants wherever possible.". (2) Add to section 201 the following new subsection: "(c) There is hereby authorized to oe appropriated to the President for the fiscal year 1956 not to exceed $73,000,000, $71,000,000, and $38,000,000 to furnish assistance under paragraphs (1), (2), and (3), respectively of subsection (a) of this section." (b) I n section 202 which relates to administration, add at the end thereof the following new sentence: "The authority provided in section 307 may be exercised for purposes of furnishing assistance under section 201." SEC. 7. Title III of the Mutual Security Act of 1954, which relates to technical cooperation, is amended as follows: (a) I n section 304, which relates to authorization, insert " (a) " before the first sentence and add the following new subsection: "(b) There is hereby authorized to be appropriated to the President for the fiscal year 1956 not to exceed $146,500,000 for technical cooperation programs in the Near East and Africa, Asia and Latin America." (b) In section 306, which relates to multilateral technical cooperation: (1) Insert the following before the semicolon at the end of paragraph (a): "; in addition, $24,000,000 for the fiscal year 1956 for contributions to the United Nations Expanded Program of Technical Assistance".

285 Marine ance.

22 USC 1852.

22 USC i87i.

22 USC 1872.

22 USC 1894.

22 USC 1896.

�