Page:United States Statutes at Large Volume 71.djvu/395

 71 S T A T. ]

PUBLIC LAW 85-141-AUG. 14, 1957

"(c) I n carrying out his functions with respect to this title, the Manager of the Fund may: enter into, perform, and modify contracts, leases, agreements, or other transactions, on such terms as may be deemed appropriate, with any agency or instrumentality of the United States, with any foreign government or foreign government agency, or with any person, partnership, associatioUj corporation, organization, or other entity, public or private, singly or m combination; accept and use gifts or donations of services, funds, or property (real, personal or mixed, tangible or intangible); contract for the services of attorneys; determine the character of and necessity for obligations and expenditures under this title, and the manner in which they shall be incurred, allowed, and paid, subject to provisions of law specifically applicable to Government corporations; acquire and dispose of, upon such terms and conditions and for such consideration as the Manager of the Fund shall determine to be reasonable, through purchase, exchange, discount, rediscount, public or private sale, negotiation, assignment, exercise of option or conversion rights, or otherwise, for cash or credit, with or without endorsement or guaranty, any property, real, personal, mixed, tangible or intangible, including, but not limited to, mortgages, bonds, debentures (including convertible debentures), liens, pledges, and other collateral or security, contracts, claims, currencies, notes, drafts, checks, bills of exchange, acceptances including bankers' acceptances, cable transfers and all other evidences of indebtedness or ownership (provided that equity securities may not be directly purchased although such securities may be acquired by other means such as by exercise of conversion rights or through enforcement of liens, pledges or otherwise to satisfy a previously incurred indebtedness), and guarantee payment against any instrument above specified; issue letters of credit and letters of commitment; collect or compromise any obligations assigned to or held by, and any legal or equitable rights accruing to, the Manager of the Fund, and, as the Manager of the Fund may determine, refer any such obligations or rights to the Attorney General for suit or collection; and otherwise take any and all actions determined by the Manager of the Fund to be necessary or desirable in making, carrying out, servicing, compromising, liquidating, or otherwise dealing with or realizing on any transaction or operation authorized by this title. The Export-Import Bank shall administer loans made from the Fund, as provided in section 505(b) of this Act. " SEC. 206. NATIONAL ADVISORY COUNCIL.—The Fund shall be administered subject to the applicable provisions of section 4 of the Bretton Woods Agreements Act (22 U.S.C. 286b) with respect to the functions of the National Advisory Council on International Monetary and Financial Problems." SEC. 7. Title III of the Mutual Security Act of 1954, as amended, which relates to technical cooperation, is further amended as follows: (a) I n section 304, which relates to authorization, strike out subsections (a) and (b) and substitute the following: "There is hereby authorized to be appropriated to the President to remain available until expended not to exceed $151,900,000 to carry out the purposes of this title." (b) Amend section 306, which relates to multilateral technical cooperation, as follows: (1) Strike out the text of subsection (a) and substitute the following: "$15,500,000 for the fiscal year 1958 for contributions to the United Nations Expanded Program of Technical Assistance: Provided, That, notwithstanding the limitation of 33.33 per centum contained in the Mutual Security Appropriation Act, 1957, the United States contribution to this program may constitute for the calendar year

359 lowers.

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