Page:United States Statutes at Large Volume 69.djvu/468

 426

PUBLIC LAW 196-AUG. 1, 1955

[69 S T A T.

references to laws, or (C) to reflect action taken by the Republic of the Philippines with respect to article V of such agreement; or (2) if such modifications are merely changes of style. TITLE III—MISCELLANEOUS SEC. 301. PROCLAMATION; EFFECTIVE DATE OF TITLE. (a) PROCLAMATION.—If the agreement authorized by section 201 has been entered into before January 1, 1956, the President of the United States shall so proclaim, and the revised agreement shall be effective in the United States in accordance with its terms. (b) EFFECTIVE DATE OF TITLE.—The provisions of this title (other than this section) shall take effect on January 1, 1956, but only if the President of the United States has made the proclamation referred to in subsection (a). SEC. 302. PHILIPPINE TRADE ACT OF 1946. 2° ^usc"i'2 51 The Philippine Trade Act of 1946 (except section 506(a) relating note. to termination of payments into Philippine Treasury, and except amendments and repeals made by such Act) shall not apply during such time as the revised agreement is in effect, SEC. 303. QUOTAS ON PHILIPPINE ARTICLES. ' The rights reserved to the United States by paragraph 2 of article III of the revised agreement shall be exercised by the President, subject to the terms and conditions contained in such article. The President is authorized to prescribe such procedures and regulations for carrying out his functions as he may deem appropriate. Quotas shall be established pursuant to such article III by proclamation of the President, shall be effective for such period or periods as the President shall specify in his proclamation, and shall terminate upon finding and proclamation of the President in accordance with paragraph (2)(d) of such article III. SEC. 304. SUSPENSION OF 2 CENTS PER POUND ADDITIONAL PROCESSING TAX ON COCONUT OIL The authority contained in paragraph 5 of article IV of the revised agreement to suspend the provisions of section 4511(b) of the Inter26'^lcf*45"itb). ^^^^ Revenue Code of 1954 may be exercised by the President by proclamation. SEC. 305. TRADE AGREEMENTS WITH THE REPUBLIC OF THE PHILIPPINES. Until July 4, 1974, no trade agreement shall be entered into with the Republic of the Philippines under section 350, as amended, of 19 USC" usi. the Tariff Act of 1930, which is inconsistent with this Act or with the revised agreement, unless, prior to such time, the revised agreement has been terminated. SEC. 306. RIGHTS OF THIRD COUNTRIES. The benefits granted by this Act, and by the revised agreement, to the Republic of the Philippines, Philippine articles or products, and Philippine citizens, shall not, by reason of any provision of any treaty or agreement existing on the date of the enactment of this Act with any third country, be extended to such country or its products, citizens, or subjects. SEC. 307. ADMINISTRATION OF REVISED AGREEMENT. The provisions of articles I, II, III, and IV of the revised agreement which are in effect in the United States which relate to customs or internal revenue matters shall be administered as parts of the customs and internal revenue laws of the United States.

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