Page:United States Statutes at Large Volume 90 Part 2.djvu/305

 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1773

(49) EEPEAL OF SECTION 363.—Section 363 ( a cross reference to other sections) is repealed. (50) AMENDMENTS OF SECTION 3 71.—Section 371(a)(1) (relati n g to certain reorganization exchanges by corporations) is amended— (A) by striking out "49 Stat. 922;" and (B) by striking out " (52 Stat. 883-905; 11 U.S.C. chapter 10) or the corresponding provisions of p r i o r law " and inserting in lieu thereof " ( 1 1 U.S.C. 501 and following)". (51) AMENDMENT OF SECTION 372.—Section 372(a) (relating to basis i n connection with b a n k r u p t c y proceedings) is amended by striking out "54 Stat. 709;". _ (52) REPEAL OF SECTION 373.—Section 373 (relating to nonrecognition of loss in certain railroad reorganizations) is repealed. (53) AMENDMENT OF SECTION 374.—Section 374(a)(1) (relating to nonrecognition of gain or loss i n certain railroad reorganizations) is amended by striking out "49 Stat. 922;". (54) AMENDMENT OF SECTION 381.—Section 381(c) (relating to

26 USC 363. 26 USC 371.

26 USC 372. ^ 26 USC 373. 26 USC 374. 26 USC 381.

items carried over in certain corporate acquisitions) is amended by striking out paragraph (20). (55) R E P E A L OF SECTIONS 391 THROUGH 395.—Subchapter C of

chapter 1 (relating to corporate distributions and adjustments) is amended by striking out part VII (relating to effective dates of subchapter C).

26 USC

391-395.

(56) AMENDMENTS OF SECTION 401.—

(A) Paragraph s (12) and (13) of section 401(a) (relat- 26 USC 401. ing to requirements for qualification) a r e each amended by striking out " the date of the enactment of the Employee > * vi Retirement Income Security Act of 1974" and inserting in lieu thereof "September 2, 1974", (B) Paragraph (15) of section 401(a) is amended by striking out " the date of the enactment of the Employee Retirement Income Security Act of 1974" and inserting in lieu ^^ ^^^ ^^^ thereof "September 2, 1974,". "•'*^(C) Paragraph (19) of section 401(a) is amended by ,, striking out "enactment of the Employee Retirement Income .'" Security Act of 1974" and inserting in lieu thereof "September 2, 1974". (D) The last sentence of section 401(a) is amended to read as follows: " Paragraph s (11), (12), (13), ( 1 4), (15), ( 1 9), and (20) shall apply only in the case of a plan to which section 411 (relating to minimum vesting standards) applies without regard to subsection (e)(2) of such section." (57) AMENDMENTS OF SECTION 402.—

(A) Section 4 0 2 (a)(4) (relating to distributions made to 26 USC 402. non-resident alien individuals) is amended by striking out "basic salary" each place it appears therein and inserting in lieu thereof "basic pay", and by amending the last sentence in such paragraph to read as follows: " I n the case of distributions under the civil service retirement laws, the term 'basic p a y ' shall have the meaning provided i n section 8331(3) of title 5, United States Code." (B) Section 402 (relating to taxability of beneficiary of employees' trusts) is amended by striking out subsection (d) ( r e l a t m g to certain trust agreements made before October 21, 1942).

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