Page:United States Statutes at Large Volume 70.djvu/791

 ro S T A T. ]

PUBLIC LAW 853-JULY 31, 1956

735

one project in excess of $25,000 shall be reported to the Committees oi. ^/i'f®'?" *,?*!!: f Appropriations of the Senate and House of Representatives at least mittee*. twice annually. SEC. 103. Pursuant to section 1415 of the Supplemental Appropria- rency!* ^ * ' " / " " tion Act, 1953, and in addition to other amounts made availaole pur- ^^ st^^. 662. suant to said section, not to exceed the equivalent of $2,000,000 of foreign currencies or credits owed to or owned by the United States shall remain available until expended, without reimbursement to the Treasury, for liq^uidation of obligations incurred against such currencies or credits prior to July 1,19.53, pursuant to authority contained in the Mutual Security Act of 1951, as amended, and Acts for which 21^tj*s c'^re s i funds were authorized by that Act and, hereafter, foreign currencies «<>*•• generated under the provisions of this Act shall be utilized only for the purposes for which the funds providing the commodities which generated the currency were appropriated. SEC. 104. None of the funds provided by this Act nor any of the the^t'debu.^"'^''"*' counterpart funds generated as a result of assistance under this or any other Act shall be used to make payments on account of the principal or interest on any debt of any foreign government or on any loan made to such government by any other foreign government; nor shall any of these funds be expended for any purpose for which funds have been withdrawn by any recipient country to make payment on such debts: Provided, however, That to the extent that funds have been borrowed by any foreign government in order to make a deposit of counterpart and such deposit is in excess of the amount that would be required to be deposited pursuant to the formula prescribed by section 142(b) of the Mutual Security Act of 1954, as amended, such f ^£^' j^H^^ ^ counterpart may be used in such country for any agreed purpose consistent with the provisions of such Act. SEC. 105. Except for the appropriation entitled "Special Presiden- Restriction, tial Fund", not more than 20 per centum of any appropriation item made available by this Act shall be obligated and/or reserved during the last two months of the fiscal year. SEC. 106. Section 108 of the Mutual Security Appropriation Act, 1956 (Public Law 208, 84th Congress), is herebv amended by substi- ^^ Stat. 438. tuting "during the two succeeding fiscal years for "until June 30, 1958" in the third sentence thereof, and by substituting "under the authority of the Mutual Security Act of 1954, as amended" for "in this Act" in the fifth proviso thereof. SEC. 107. None of the funds contained in this Act shall be used to carry out the purposes of section 13 of the Mutual Security Act of ^ ' * ' * • 5^^' > 1956. SEC. 108, The Congress hereby reiterates its opposition to the seating fnu^^V"lhin^°Tn in the United Nations of the Communist China regime as the repre- u. N., opposition, sentative of China, and it is hereby declared to be the continuing sense of the Congress that the Communist regime in China has not demonstrated its willingness to fulfill the obligations contained in the Charter of the United Nations and should not be recognized to represent China in the United Nations. I n the event of the seating of representatives of the Chinese Communist regime in the Security Council or General Assembly of the United Nations, the President is port^tS^con^i^.i.** requested to inform the Congress insofar as is compatible with the requirements of national security, of the implications of this action tipon the foreign policy of the United States and our foreign relationships, including that created by membership in the United Nations, together with any recommendations which he may have with respect to the matter. SEC. 109. This Act may be cited as the "Mutual Security Appro- short title, priation Act, 1957". Approved July 31, 1956.

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