Page:United States Statutes at Large Volume 90 Part 2.djvu/1043

 PUBLIC LAW 94-542—OCT. 18, 1976

90 STAT. 2511

"OFFSETS

"SEC. 605. In determining the amount of any claim, the Commission shall deduct all amounts the claimant has received from any source on account of the same loss or losses, including any amount claimant received under section 202(a) of the War Claims Act of 1948, as amended, for losses which occurred as a direct consequence of special measures directed against such property in any area covered under this title. ((CONSOLIDATED AWARDS

22 USC 1644e.

50 USC app. 2017a.

"SEC. 606. With respect to any claim under section 602 of this title 22 USC 1644f. which, at the time of the award, is vested in persons other than the person by whom the original loss was sustained, the Commission shall issue a consolidated award in favor of all claimants then entitled thereto, which award shall indicate the respective interests of such claimants therein, and all such claimants shall participate, in proportion to their indicated interests, in any payments that may be made under this title in all respects as if the award had been in favor of a single person. "CLAIMS FUND

"SEC. 607. (a) The Secretary of the Treasury is hereby authorized to Establishment. establish in the Treasury of the United States a fund to be designated 22 USC 1644g. the Claims Fund as defined under section 601(5) for the payment of unsatisfied claims of nationals of the United States against the German Democratic Republic as authorized in this title. " (b) The Secretary of the Treasury shall deduct from any amounts covered into the Claims Fund, an amount equal to 5 per centum thereof as reimbursement to the Government of the United States for expenses incurred by the Commission and by the Treasury Department in the administration of this title. The amounts so deducted shall be covered into the Treasury to the credit of miscellaneous receipts. u AWARD PAYMENT PROCEDURES

"SEC. 608. (a) The Commission shall certify to the Secretary of the 22 USC 1644,h. Treasury, in terms of United States currency, each award made pursuant to section 602 of this title. " (b) Upon certification of such award, the Secretary of the Treasury is authorized and directed, out of the sums covered into the Claims Fund, to make payments on account of such awards as follows, and in the following order of priority: "(1) payment in full of the principal amount of each award of $1,000 or less; "(2) payment in the amount of $1,000 on account of the principal amount of each award of more than $1,000 in principal amount; "(3) thereafter, payments from time to time, in ratable proportions, on account of the unpaid balance of the principal amounts of all awards according to the proportions which the unpaid balance of such awards bear to the total amount in the fund available for distribution at the time such payments are made; "(4) after payment has been made in full of the principal amounts of all awards, pro rata payments may be made on account of any interest that may be allowed on such awards;

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