Page:United States Statutes at Large Volume 79.djvu/559

 79 STAT.]

PUBLIC LAW 89-127-AUGUST 14, 1965

519

Public Law 89-126 ^^ ACT To authorize the Viiited States (iovenior to agree to amendments to the articles of aja-et»ment.s of the International Bank for Reconstruction and Development and the International Finance C«rporation, and for other puiTOses.

August 14, 1965 ^^- ^'^'^^^

Be It enacted by the Senate and House of Representatives of the United States of America m Congress assemhUd^ That the Bretton A^etme"t^°Act Woods Agreements Act, as amended (22 U.S.C. 286-286k-l), is amendments. amended by: 59 Stat. 512. (1) Deleting paragraphs (5) and (6) of subsection (b) of section 4 (22 U.S.C. 286b) and substituting therefor the following: "(5) The Council shall transmit to the President and to the Con- dent^and con-'^^'" gress an annual report with respect to the participation of the United gress. States in the Fund and Bank. "(6) Each such report shall contain such data concerning the ^^*^' operations and policies of the F u n d and Bank, such recommendations concerning the Fund and Bank, and such other data and material as the Council may deem appropriate." (2) Substituting a comma for the period at the end of section 5 (22 U.S.C. 286c) and adding the following: "if such increase involves an increased subscription on the part of the United States." (3) Adding at the end thereof the following new section: "SEC. 21. The United States Governor of the Bank is authorized to ^"'^' ^' ^^^• agree to an amendment to the articles of agreement of the Bank to permit the Bank to make, participate in, or guarantee loans to the International Finance Corporation for use in the lending operations of the latter." SEC. 2. The International Finance Corporation Act, as amended (22 U.S.C. 282-282g), is amended by adding at the end thereof the follow- ^9 Stat. 669. ing new section: "SEC. 10. The United States Governor of the Corporation is authorized to agree to the amendments of the articles of agreement of the Corporation to remove the prohibition therein contained against the Corporation lending to or borrowing from the International Bank for Reconstruction and Development, and to place limitations on such borrowings." Approved August 14, 1965.

Public Law 89-127 AN ACT To amend section.502 of the Merchant Marine Act. 1936, relating to construction differential subsidies.

Be it enacted by the Senate and House of Rejn-esentatives of the United States of America in Gonqress assembled. That the proviso 1

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August 14, 1965 '• ' ' •'

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m the second sentence 01 subsection (b) or section 502 or the Mer- subsidy, extenchant Manne Act, 1936. as amended (46 U.S.C. 1152(b)), is amended ^'"'^•^^^^^ 1200by striking out "June 30, 1965," and inserting in lieu thereof "June ys Stat. 313. 30, 1966." Approved August 14, 1965.

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