Page:United States Statutes at Large Volume 76.djvu/309

 76 STAT. ]

PUBLIC LAW 87-565-AUG. 1, 1962

"(1) has nationalized or expropriated or seized ownership or control of property owned by any United States citizen or by any corporation, partnership, or association not less than 50 per centum beneficially owned by United States citizens, or "(2) has imposed or enforced discriminato'ry taxes or other exactions, or restrictive maintenance or operational conditions, which have the effect of nationalizing, expropriating, or otherwise seizing ownership or control of property so owned, and such country, government agency or government subdivision fails within a reasonable time (not more than six months after such action or after the date of enactment of this subsection, whichever is later) to take appropriate steps, which may include arbitration, to discharge its obligations under international law toward such citizen or entity, including equitable and speedy compensation for such property in convertible foreign exchange, as required by international law, or fails to take steps designed to provide relief from such taxes, exactions, or conditions, as the case may be, and such suspension shall continue until he is satisfied that appropriate steps are being taken and no other provision of this Act shall be construed to authorize the President to waive the provisions of this subsection. "(f) No assistance shall be furnished under this Act, as amended, (except section 214(b)) to any Communist country. This restriction may not be waived pursuant to any authority contained in this Act unless the President finds and promptly reports to Congress that: (1) such assistance is vital to the security of the United States; (2) the recipient country is not controlled by the international Communist conspiracy; and (3) such assistance will further promote the independence of the recipient country from international communism. For the purposes of this subsection, the phrase 'Communist country' shall include specifically, but not be limited to, the following countries: "Peoples Republic of Albania, "Peoples Republic of Bulgaria, "Peoples Republic of China, "Czechoslovak Socialist Republic, "German Democratic Republic (East Germany), "Estonia, "Hungarian Peoples Republic, "Latvia, "Lithuania, "North Korean Peoples Republic, "North Vietnam, "Outer Mongolia-Mongolian Peoples Republic, "Polish Peoples Republic, "Rumanian Peoples Republic, "Tibet, "Federal Peoples Republic of Yugoslavia, "Cuba, and "Union of Soviet Socialist Republics. " (g) Notwithstanding any other provision of law, no monetary assistance shall be made available under this Act to any government or political subdivision or agency of such government which will be used to compensate owners for expropriated or nationalized property and, upon finding by the President that such assistance has been used by any government for such purpose, no further assistance under this Act shall be furnished to such government until appropriate reimbursement is made to the United States for sums so diverted. " (h) The President shall adopt regulations and establish procedures to insure that United States foreign aid is not used in a manner which, contrary to the best interests of the United States, promotes or assists the foreign aid projects or activities of the Communist-bloc countries."

261

22 USC 2174.

"Communist country. »•

Regulations and procedures.

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