Page:United States Statutes at Large Volume 80 Part 1.djvu/840

 804 75 Stat. 438; 77 Stat. 385. 22 USC 2351.

International Private Invests ment Advisory Council on Foreign Aid.

60 Stat. 808; 75 Stat. 339, 340.

7 5 Stat. 439. 22 USC 2354.

68 Stat. 454. 7 USC 1691 note.

22 USC 2358.

Ante, p. 74.

PUBLIC LAW 89-583-SEPT. 19, 1966

[80

STAT.

(2) I n subsection (b), redesignate paragraphs (2), (8), (4), (5), and (6) as paragraphs (3), (4), (5), (6), and (7), respectively. (3) I n subsection (b), strike out "and" at the end of paragraph (6), as so redesignated by paragraph (2) of this subsection; strike out the period at the end of paragraph (7), as so redesignated by paragraph (2) of this subsection, and insert in lieu thereof a semicolon; and at the end thereof add the following new paragraph: "(8) utilize wherever practicable the services of United States private enterprise on a cost-plus incentive fee contract basis to provide the necessary skills to develop and operate a specific project or program of assistance in a less developed friendly country or area in any case in which direct private investment is not readily encouraged, and provide where appropriate for the transfer of equity ownership in such project or program to private investors at the earliest feasible time. (4) Subsection (c) is amended to read as follows: " (c)(1) There is hereby established an International Private Investment Advisory Council on Foreign Aid to be composed of such number of leading American business specialislts as may be selected, from time to time, by the Administrator of the Agency for International Development for the purpose of carrying out the provisions of this subsection. The members of the Council shall serve at the pleasure of the Administrator, who shall designate one member to serve as Chairman. "(2) I t shall be the duty of the Council, at the request of the Administrator, to make recommendations to the Administrator with respect to particular aspects of programs and activities under this Act where private enterprise can play a contributing role and to act as liaison for the Administrator to involve specific private enterprises in such programs and activities, "(3) The members of the Advisory Council 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 by them in the performance of their functions under this subsection. "(4) The expenses of the Advisory Council shall be paid by the Administrator from funds otherwise available under this Act." (b) Section 604, which relates to procurement, is amended as follows: (1) Subsection (c), which relates to procurement of agricultural commodities, is amended by striking out the word "surplus" each time it appears and by inserting "or product thereof available for disposition under the Agricultural Trade Development and Assistance Act of 1954, as amended," after the word "commodity" the first time it appears. (2) Add the following new subsection: "(e) No funds made available under this Act shall be used for the procurement of any agricultural commodity or product thereof outside the United States when the domestic price of such commodity is less than parity." (c) Section 608(a), which relates to advance acquisition of property, is amended by inserting "(including personnel costs)" immediately after "costs" the first place it appears in the first sentence. (d) Section 610(b), which relates to transfer between accounts, is amended by striking out the last sentence and inserting in lieu thereof the following: "Not to exceed $5,000,000 of the funds appropriated under section 402 of this Act for any fiscal year may be transferred to and consolidated with appropriations made under section 637(a) of this Act for the same fiscal year, subject to the further limitation

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