Page:United States Statutes at Large Volume 92 Part 1.djvu/268

 92 STAT. 214

PUBLIC LAW 95-268—APR. 24, 1978 (5) by striking out subsections (f) and (1), and redesignating subsections (g), (h), (i), (j), (k), (m), and (n) as subsections (f)j (g)? (li), (i), (J), (k),and (1), respectively. INVESTMENT INSURANCE AND OTHER PROGRAMS

22 USC 2194.

SEC. 3. Section 234 of the Foreign Assistance Act of 1961 is amended— (1) in subsection (a)(2), by striking out all after "total project financing" and inserting in lieu thereof a period; (2) in subsection (a)(3) and subsection (b), by striking out "total face amount" each place it appears and inserting in lieu thereof "maximum contingent liability"; (3) by striking out paragraphs (4) through (7) of subsection

(4) in subsection (c), by adding the following new sentence at the end of the first paragraph: "Loans may be made under this subsection only for projects that are sponsored by or significantly involve United States small business or cooperatives."; (5) by striking out the last paragraph of subsection (c) and inserting in lieu thereof the following: Loans for "Xo loan may be made under this subsection to finance any operaextraction of tjon for the extraction of oil or gas. The aggregate amount of loans nonfuel minerals. yj]^(jer this subsection to finance operations for the mining or other extraction of any deposit of ore or other nonfuel minerals may not in any fiscal year exceed $4,000,000."; (6) in the first sentence of subsection (d), by striking out all after "private investors" and inserting in lieu thereof a comma and the following: "except that— "(1) the Corporation shall not finance any survey to ascertain the existence, location, extent, or quality of, or to determine the feasibility of undertaking operations for the extraction of, oil or gas; and "(2) expenditures financed by the Corporation during any fiscal year on surveys to ascertain the existence, location, extent, or quality of, or to determine the feasibility of undertaking operations for the extraction of nonfuel minerals may not exceed $200,000."; and (7) in paragraph (1) of subsection (f) by striking out the period at the end thereof and inserting in lieu thereof the following: "; except that (A) such agreements and contracts shall be consistent with the purposes of the Corporation set forth in secAnte, p. 213. tion 231 of this Act and shall be on equitable terms, and (B) the Corporation shall not make or carry out any association or risksharing agreement for the direct underwriting of insurance by the Corporation with others, other than on an individual basis where such direct underwriting facilitates the purposes of the Corporation as set forth in section 231 of this Act.". ISSUING AUTHORITY

22 USC 2195.

SEC. 4. Section 235 of the Foreign Assistance Act of 1961 is amended— (1) in subsection (a)(2), by striking out ", of which guaranties of credit union investment shall not exceed $1,250,000"; and (2) in subsection (a)(4), by striking out "December 31, 1977" and inserting in lieu thereof "September 30, 1981".

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