Page:United States Statutes at Large Volume 89.djvu/1207

 PUBLIC LAW 94-204—JAN. 2, 1976

89 STAT. 1147

to be the rate payable on short-term obligations of the United States prevailing at the time of payment: Provided, That the Secretary in his discretion may w i t h d r a w such proceeds from the United States Treasury and reinvest such proceeds in the manner provided by the first section of the Act of June 24, 1938 (52 U.S.C. 1037): Provided further, 52 Stat. 1037. That this section shall not be construed to create or terminate any 25 USC 162a. trust relationship between the United States and any corporation or individual entitled to receive benefits under the Settlement Act. 43 USC 1601 (c) Any and all proceeds from public easements reserved pursuant "o^e. to section 17(b)(3) of the Settlement Act, from or after the date of 43 USC 1616. enactment of this Act, shall be paid to the grantee of such conveyance in accordance with such grantee's proportionate share. (d) To the extent that there is a conflict between the provisions of this section and any other Federal laws applicable to Alaska, the provisions of this section will govern. Any payment made to any corporation or any individual under authority of this section shall not be subject to any prior obligation under section 9(d) or 9(f) of the Settlement Act. 43 USC 1608. SEC. 3. The Settlement Act is amended by adding at the end thereof the following new section: "TEMPORARY EXEMPTION FROM CERTAIN SECURITIES LAWS

" SEC. 28. Any corporation organized pursuant to this Act shall be exempt from the provisions of the Investment Company Act of 1940 (54 Stat. 789), the Securities Act of 1933 (48 Stat. 74), and the Securities Exchange Act of 1934 (48 Stat. 881), as amended, through December 31, 1991. Nothing in this section, however, shall be construed to mean that any such corporation shall or shall not, after such date, be subject to the provisions of such Acts. Any such corporation which, but for this section, would be subject to the provisions of the Securities Exchange Act of 1934 shall transmit to its stockholders each year a report containing substantially all the information required to be included in an annual report to stockholders by a corporation which is subject to the provisions of such Act.". SEC. 4. The Settlement Act is further amended by a d d i n g at the end thereof the following new section:

43 USC 1625. 15 USC 80a-51 15 USC 77a. ^^ ^^^ '^^

"RELATION TO OTHER PROGRAMS

" SEC. 29. (a) The payments and grants authorized under this Act constitute compensation for the extinguishment of claims to land, and shall not be deemed to substitute for any governmental program s otherwise available to the Native people of Alaska as citizens of the United States and the State of Alaska. " (b) Notwithstanding section 5(a) and any other provision of the Food S t a m p Act of 1964 (78 Stat. 703), as amended, in determining the eligibility of any household to participate in the food stamp program, any compensation, remuneration, revenue, or other benefit received by any member of such household under the Settlement Act shall be disregarded.". SEC. 5. For purposes of the first section of the Act of February 12, 1929 (45 Stat. 1164), as amended, and the first section of the Act of June 24, 1938 (52 Stat. 1037), the Alaska Native F u n d shall, pending distributions under section 6(c) of the Settlement Act, be considered to consist of funds held in trust by the Government of the United States for the benefit of Indian tribes: Provided, That nothing in this section shall be construed to create or terminate any trust relationship

43 USC 1626.

7 USC 2014.

43 USC 1605 note. 25 USC 161a. ^ H^p l^^^r'

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