Page:United States Statutes at Large Volume 86.djvu/101

 86 STAT. ]

59

PUBLIC LAW 92-246-MAR. 10, 1972

government of such country has failed to take adequate steps to prevent narcotic drugs and other controlled substances (as defined by the Comprehensive Drug Abuse Prevention and Control Act of 1970) produced f[ ^^^ g^^^^or processed, in whole or in part, in such country, or transported jnote. through such country, from being sold illegally within thiB jurisdiction of such country to United States Government personnel or their dependents, or from entering the United States unlawfully. Such instruction shall continue in effect until the President determines, and so notifies the Secretary of the Treasury, that the government of such country has taken adequate steps to prevent such sale or entry of narcotic dru2:s and other controlled substances."' Approved March 10, 1972. Public Law 92-246 AN ACT To authorize payment and appropriation of the second and third installments of the United States contributions to the Fund for Special Operations of the Inter-American Development Bank.

Be it enacted by the Senate and House of Rejjrese^itatives of the United States of America in Congress assmnbled, That the InterAmerican Development Bank Act (22 U.S.C. 283 et seq.) is amended by adding at the end thereof the following new sections: "SEC. 19. (a) The United States Governor of the Bank is authorized to pay to the Fund for Special Operations two annual installments of $450,000,000 each in accordance with and subject to the terms and conditions of the resolution adopted by the Board of Governors on December 31, 1970, concerning an increase in the resources of the Fund for Special Operations and contributions thereto. "(b) There are hereby authorized to be appropriated, without fiscal year limitation, the amounts necessary for payment by the Secretary of the Treasury of the two annual installments of $450,000,000 each for the United States share of the increase in the resources of the Fund for Special Operations of the Bank. "SEC. 20. The United States Governor of the Bank is authorized to agree to amendments to the provisions of the articles of agreement as provided in proposed Board of Governors resolutions entitled (a) 'Amendment of the Provisions of the Agreement Establishing the Bank with Respect to Membership and to Related Matters' and (b) 'Amendment of the Provisions of the Agreement Establishing the Bank with Respect to the Election of Executive Directors'. "SEC. 21. The President shall instruct the United States Executive Director of the Bank to vote against any loan or other utilization of the funds of the Bank for the benefit of any country which has— "(1) 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 of which is beneficially owned by United States citizens; "(2) taken steps to repudiate or nullify existing contracts or agreements with any United States citizen or any corporation, partnership, or association not less than 50 per centum of which IS beneficially owned by United States citizens; or "(3) imposed or enforced discriminatory taxes or other exactions, or restrictive maintenance or operational conditions, or has taken other actions, which have the effect of nationalizing, expropriating, or otherwise seizing ownership or control of property so owned;

March 10, 1972 [S. 748]

Inter-American Development Bank. Fund for Special Operations, U.S. contribution. 73 Stat. 299; 84 Stat. 1658.

Appropriation.

Expropriation of U.S. property, loan restriction.

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