Page:United States Statutes at Large Volume 83.djvu/169

 83 STAT. ]

PUBLIC LAW 91-95-OCT. 22, 1969

141

Public Law 91-94 JOINT RESOLUTION

To amend section 19(e) of the Securities Exchange Act of 1934.

October 20, 1969

[ s. j. Res. 112]

Whereas additional time is required for the Securities and Exchange Commission to complete its institutional investors study, and file a report with respect thereto, pursuant to section 19(e) of the Securities Exchange Act of 1934: Now, therefore, be it Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That section 19(e) of the chan^gTA'ct^of"" Securities Exchange Act of 1934 (15 U.S.C. 78s(e)) is amended— ^^^^ of^^^l^f" * 82 Stat. 453. (1) by striking out in paragraph (1) "September 1, 1969" and inserting in lieu thereof "September 1, 1970"; and (2) by striking out in paragraph (4) "$875,000" and inserting in lieu thereof "$945,000". Approved October 20, 1969.

Public Law 91-95 AN ACT October 22, 1969 To authorize special allowances for lenders with respect to insured student [H. R. 13194] loans under title IV-B of the Higher Education Act of 1965 when necessary in the light of economic conditions in order to assure that students will have reasonable access to such loans for financing their education, and to increase the authorizatiojis for certain other student assistance programs.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may Emergency be cited as the "Emergency Insured Student Loan Act of 1969". i^o^n^ct of^1*969. INCENTIVE PAYMENTS ON INSURED STUDENT LOANS

f SEC. 2. (a)(1) Whenever the Secretary of Health, Education, and Welfare determines that the limitations on interest or other conditions (or both) applicable under part B of title IV of the Higher Education Act of 1965 (Public Law 89-329) to student loans eligible ^^ stau U36^ for insurance by the Commissioner of Education or under a State or io87. nonprofit private insurance program covered by an agreement under section 428(b) of such Act, considered in the light of the then current economic conditions and in particular the relevant money market, are impeding or threatening to impede the carrying out of the purposes of such part B and have caused the return to holders of such loans to be less than equitable, he is hereby authorized, by regulation applicable to a three-month period specified therein, to prescribe (after consultation with the Secretary of the Treasury and the heads of other appropriate agencies) a special allowance to be paid by the Commissioner of Education to each holder of an eligible loan or loans. The amount of such allowance to any holder with respect to such Amount. priod shall be a percentage, specified in such regulation, of the average unpaid balance of disbursed principal (not including interest added to principal) of all eligible loans held by such holder during such period, which balance shall be computed in a manner specified

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