Page:United States Statutes at Large Volume 92 Part 1.djvu/269

 PUBLIC LAW 9 5 - 2 6 8 — A P R. 24, 1978

92 STAT. 215

GENERAL PROVISIONS RELATING TO INSURANCE AND GUARANTY PROGRAM

SEC. 5. Section 237(f) of the Foreign Assistance Act of 1961 is 22 USC 2197. amended— (1) by inserting before the period at the end of the first sentence a comma and the following: "except that the Corporation may provide for appropriate adjustments in the insured dollar value to reflect the replacement cost of project assets"; and (2) by inserting before the period at the end of the second sentence a comma and the following: "except that such limitation shall not apply to direct insurance or reinsurance of loans by banks or other financial institutions to unrelated parties". ACTS OF BRIBERY

SEC. 6. Section 237 of the Foreign Assistance Act of 1961 is amended by adding at the end thereof the following new subsection: "(1)(1) No payment may be made under any insurance or reinsurance which is issued under this title on or after the date of enactment of this subsection for any loss occurring with respect to a project, if the preponderant cause of such loss was an act by the investor seeking payment under this title, by a person possessing majority ownership and control of the investor at the time of the act, or by any agent of such investor or controlling person, and a court of the United States has entered a final judgment that such act constituted a violation under the Foreign Corrupt Practices Act of 1977. 15 USC 78a note. " (2) Not later than 120 days after the date of enactment of this sub- Regulations. section, the Corporation shall adopt regulations setting forth appropriate conditions under which any person convicted under the Foreign C o r r u p t Practices Act of 1977 for an offense related to a project insured or otherwise supported by the Corporation shall be suspended, for a period of not more than five years, from eligibility to receive any insurance, reinsurance, guaranty, loan, or other financial support authorized by this title.''. GENERAL PROVISIONS AND POWERS

SEC. 7. Section 239 of the Foreign Assistance Act of 1961 is amended— (1) in subsection (b), by striking out the second paragraph thereof; (2) in subsection (d), by inserting after "section 231(c) " in the parenthetical the following: "or participation certificates as evidence of indebtedness held by the Corporation in connection wath settlement of claims under section 2 3 7 (i) "; and (3) by adding at the end thereof the following new" subsections: " (i) I n order to carry out the policy set forth in paragraph (1) of the second undesignated paragraph of section 231 of this Act, the Corporation shall prepare and maintain for each investment project it insures, finances, or reinsures, a development impact profile consisting of data appropriate to measure the projected and actual effects of such project on development. Criteria for evaluating projects shall be developed in consultation with the Agency for International Development. " (j) The Corporation shall not provide any insurance, reinsurance, guaranty, loan, or other financial support authorized by section 234

22 USC 2199.

Development impact profile. ^me, p. 213.

Ante, p. 214.

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