Page:United States Statutes at Large Volume 77.djvu/417

 77 STAT. ]

PUBLIC LAW 88-205-DEC. 16, 1963

385

PART III CHAPTER 1—GENERAL PROVISIONS

SEC. 301. Chapter 1 of part III of the For e i ^ Assistance Act of 1961, as amended, which relates to general provisions, is amended as follows: (a) Section 601(b), which relates to encouragement of private enterprise, is amended as follows: (1) A t the end of paragraph (3), strike out "and". (2) I n paragraph (4), strike out "wherever appropriate" and insert in lieu thereof "to the maximum extent practicable", and strike out the period at the end thereof and substitute a semicolon. (3) Add the following new paragraphs at the end thereof: "(5) take appropriate steps to discourage nationalization, expropriation, confiscation, seizure of ownership or control, of private investment and discriminatory or other actions having the effect thereof, undertaken by countries receiving assistance under this Act, which divert available resources essential to create new wealth, employment, and productivity in those countries and otherwise impair the climate for new private investment essential to the stable economic growth and development of those countries; and "(6) utilize wherever practicable the services of United States private enterprise (including, but not limited to, the services of experts and consultants in technical fields such as engineering)." (b) A t the end of section 601 add the following new subsection: " (c)(1) There is hereby established an Advisory Committee on Private Enterprise in Foreign Aid. The Advisory Committee shall carry out studies and make recommendations for achieving the most effective utilization of the private enterprise provisions of this Act to the head of the agency charged with administering the program under part I of this Act, who shall appoint the Committee. " (2) Members of the Advisory Committee shall represent the public interest and shall be selected from the business, labor and professional world, from the universities and foundations, and from among persons with extensive experience in government. The Advisory Committee shall consist of not more than nine members, and one of the members shall be designated as chairman. " (3) Members of the Advisory Committee shall receive no compensation for their services but shall be entitled to reimbursement in accordance with section 5 of the Administrative Expenses Act of 1946 (5 U.S.C. 73b-2) for travel and other expenses incurred in attending meetings of the Advisory Committee. "(4) The Advisory Committee shall, if possible, meet not less frequently than once each month, shall submit such interim reports as the Committee finds advisable, and shall submit a final report not later than December 31, 1964, whereupon the Committee shall cease to exist. Such reports shall be made available to the public and to the Congress. " (5) The expenses of the Committee, which shall not exceed $50,000, shall be paid from funds otherwise available under this Act." (c) Section 611(b), which relates to completion of plans and cost estimates, is amended by striking out "circular A-47 of the Bureau of the Budget" and substituting "the Memorandum of the President dated May 15, 1962,". (d) Section 612, which relates to use of foreign currencies, is amended as follows: (1) Insert " (a) " after the section heading. 93-025 0-64-27

75 Stat. 43:8. ^^ ^^^ ^^^ ^•

Advisory committee on Private po^e^n Aid" Establishment. 22 USC 2151 "°*^-

eo Stat. SOB.

22 USC 2361.

22 USC 23 62.

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