Page:United States Statutes at Large Volume 72 Part 1.djvu/569

 72

STAT.]

527

PUBLIC LAW 85-604-AUG. 8, 1958

Public Law 85-604 AN ACT To amend the International Claims Settlement Act of 1949, as amended (64 Stat. 12).

August 8. 1958 IS. 3557]

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Interna- cia^ml'^settlement tional Claims Settlement Act of 1949, as amended, is further amended Act of 1949,amendby adding at the end thereof the following: ""^eT Stat. 12; 69 Stat. 562! 22 USC

"TITLE IV

1621

"°t«-

"CLAIMS AGAINST CZECHOSLOVAKIA

"SEC. 401. As used in this title— "(1) 'National of the United States' means (A) a natural person who is a citizen of the United States, or who owes permanent allegiance to the United States, and (B) a corporation or other legal entity which is organized under the laws of the United States, any State or Territory thereof, or the District of Columbia, if natural persons who are nationals of the United States own, directly or indirectly, more than 50 per centum of the outstanding capital stock or other beneficial interest in such legal entity. I t does not include aliens. (2) 'Commission' means the Foreign Claims Settlement Commission of the United States, established, pursuant to Reorganization Plan Number 1 of 1954 (68 Stat. 1279). (3) 'Property' means any property, right, or interest. "SEC. 402. (a) The Secretary of the Treasury is directed to hold, in an account in the Treasury of the United States, the net proceeds of the sale of certain Czechoslovakian steel mill equipment heretofore blocked and sold in the United States by order of the Secretary of the Treasury under authority of Executive Order Numbered 9193, dated July 6, 1942 (7 F. R. 5205, July 9, 1942). "(b) There is hereby created in the Treasury of the United States a fund to be designated the Czechoslovakian Claims Fund, for the payment of unsatisfied claims of nationals of the United States against Czechoslovakia as authorized in this title. "(c) If, within one year following the date of enactment of this title, the Government of CzechoslovaKia voluntarily settles with and pays to the Government of the United States a sum in payment of claims of United States nationals against Czechoslovakia, all moneys held pursuant to subsection (a) of this section shall be disposed of in accordance with the terms of the settlement agreement with Czechoslovakia and applicable provisions of this title and the sum paid by Czechoslovakia shall be covered into the Czechoslovakian Claims Fund. " (d) Upon the expiration of one year after the date of enactment of this title if no settlement with Czechoslovakia of the type specified in subsection (c) of this section has occurred, all moneys held pursuant to subsection (a) of this section except amounts held in reserve pursuant to section 403 of this title, shall be covered into the Czechoslovakian Claims Fund. "(e) The Secretary of the Treasury shall deduct from the Czechoslovakian Claims Fund 5 per centum thereof as reimbursement to the Government of the United States for the expenses incurred by the Commission and by the Treasury Department in the administration of this title. The amount so deducted shall be covered into the Treasury to the credit of miscellaneous receipts. 98395-59-PT. 1-34

Definitions.

F i n a n c: i ng the fund..

3 CFR„ Cum. Supp., p.1174. Czechoslovakian Claims Fund.

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