this Order and of functions under Section 310 of the Act (7 U.S.C. 1692).

(c) The functions delegated by this Order to the Director of the United States International Development Cooperation Agency may be redelegated to the head of any other Executive agency.

1-3. DEPARTMENT OF STATE

1-301. The Secretary of State shall perform the function of determining which countries are friendly countries within the meaning of Section 103(d) of the Act (7 U.S.C. 1703(d)).

1-302. The functions delegated by this Order to the Secretary of State may be redelegated to the head of any Executive agency.

1-4. FOREIGN CURRENCIES

1-401. (a) Foreign currencies which accrue under Title I of the Act (7 U.S.C. 1701, et seq.) may be used for the purposes set forth in Section 104 of the Act (7 U.S.C. 1704) in amounts consistent with applicable provisions of law, sales agreements and loan assessments. Except as may be inconsistent with such law or agreements, priority shall be accorded to the sale of such currencies to appropriations or to their sale otherwise for dollars. The Director of the Office of Management and Budget shall fix the amounts of such currencies to be used for the purpose set forth in Section 104 of the Act. The Director of the Office of Management and Budget shall notify the Secretary of the Treasury with respect to any amounts so fixed.

(b) The function vested in the President by the penultimate proviso of Section 104 of the Act (7 U.S.C. 1704) of waiving the applicability of Section 1415 of the Supplemental Appropriation Act of 1953 (31 U.S.C. 724) [31 U.S.C. 1306] is delegated to the Director of the United States International Development Cooperation Agency with respect to Section 104(e) of the Act and to the Director of the Office of Management and Budget in all other respects.

1-402. The Secretary of the Treasury shall issue regulations governing the purchase, custody, deposit, transfer and sale of foreign currencies received under the Act [7 U.S.C. 1691 et seq.).

1-403. The provisions of Sections 1-401 and 1-402 of this Order shall not limit Sections 1-202 and 1-3 of this Order. The provisions of Section 1-402 of this Order shall not limit Section 1-401 of this Order.

1-404. The purposes of the following paragraphs of Section 104 of the Act (7 U.S.C. 1704) shall be carried out as follows:

(a) Those under paragraph (a) by the agencies with authority to pay the United States' obligations abroad. (b) Those under paragraph (b)(1) by the Department of Agriculture.

(c) Those under paragraph (b)(2) by the agencies with responsibility for such functions.

(d) Those under paragraph (b)(3) of the Act as follows:

(1) Those with respect to collecting, collating, translating, abstracting, and disseminating scientific and technological information by the Director of the National Science Foundation and the head of such other agency or agencies as the Director of the Office of Management and Budget may designate after appropriate consultation;

(2) Those with respect to programs of culture and educational development, health, nutrition, and sanitation by the Director of the International Communications Agency, the Department of State, and the head of any other appropriate agency;

(3) All others by such agency or agencies as the Director of the Office of Management and Budget may designate after appropriate consultation.

(4) The term "appropriate consultation" shall include consultation with the Secretary of State, the Director of the National Science Foundation, and the head of any other appropriate agency.

(e) Those under paragraph (b)(4) by the Department of State and any other agency or agencies designated by the Secretary of State.

(f) Those under paragraph (b)(5) by the Librarian of Congress.

(g) Those under paragraphs (d), (e), (f), (g), and (h) by the United States International Development Cooperation Agency.

(h) Those under paragraph (j) by the Department of the Treasury in consultation with the Department of State.

1-405. The functions vested in the President by Section 104 of the Act (7 U.S.C. 1704) are delegated as follows:

(a) Those under paragraph (f) of determining the manner in which the loans provided for in that paragraph shall be made to the Director of the United States International Development Cooperation Agency.

(b) Those under paragraph (j) of prescribing terms and conditions to the Secretary of the Treasury in consultation with the Secretary of State.

1-406. In negotiating international agreements pursuant to the Act [7 U.S.C. 1691 et seq.), the Secretary of State shall avoid restrictions which would limit the application of normal budgetary and appropriation controls to the use of foreign currencies accruing under Title I of the Act (7 U.S.C. 1701, et seq.) which are available for operations of the United States Government.

1-5. REVOCATIONS

1-501. Executive Order No. 10900 of January 5, 1961, as amended, is revoked.

1-502. The following Executive Orders which have previously been superseded, at least in part, are revoked:

(a) Executive Order No. 10560 of September 9, 1954; (b) Executive Order No. 10685 of October 27, 1956; (c) Executive Order No. 10708 of May 6, 1957; (d) Executive Order No. 10746 of December 12, 1957; (e) Executive Order No. 10799 of January 15, 1959; (f) Executive Order No. 10827 of June 25, 1959; (g) Executive Order No. 10884 of August 17, 1960; and (h) Executive Order No. 10893, as amended, except Section 201 thereof.

JIMMY CARTER.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 1701 of this title; title 10 section 2681.

§ 1691a. World Food Conference goal; United States contribution

Pursuant to the World Food Conference recommendation that donor countries provide a total of at least ten million tons of food assistance to needy nations annually, the President is urged to maintain a significant United States contribution to this goal and to encourage other countries to maintain and increase their contributions as well.

(July 10, 1954, ch. 469, § 3, as added Dec. 20, 1975, Pub. L. 94-161, title II, § 202, 89 Stat. 851.)

WORLD FOOD CONFERENCE RECOMMENDATIONS Pub. L. 94-161, title II, § 213, Dec. 20, 1975, 89 Stat. 855, which directed the President to strengthen the efforts of the United States to carry out the recommendations of the World Food Conference and to submit a detailed report to the Congress not later than Nov. 1, 1976, was repealed by Pub. L. 97-113, title VII, § 734(a)(7), Dec. 29, 1981, 95 Stat. 1560.

SUBCHAPTER I-BARTER

§ 1692. Transferred

CODIFICATION

Section, act July 10, 1954, ch. 469, title III, § 310, formerly 303, 68 Stat. 459; Sept. 6, 1958, Pub. L. 85-931, § 6, 72 Stat. 1791; July 29, 1968, Pub. L. 90-436, § 7, 82 Stat. 451; renumbered Aug. 3, 1977, Pub. L. 95-88, title II, § 211(a)(1), 91 Stat. 548, which related to the bartering authority of the Secretary was transferred to section 1727g of this title.

§§ 1693 to 1697. Repealed. Pub. L. 89-808, § 2(D), Nov. 11, 1966, 80 Stat. 1535

Section 1693, acts July 10, 1954, ch. 469, title III, § 304, 68 Stat. 459; Aug. 13, 1957, Pub. L. 85-128, § 1(6), 71 Stat. 345; Oct. 8, 1964, Pub. L. 88-638, § 1(16), 78 Stat. 1037, provided for assistance to friendly nations in being independent of Russian or Communist Chinese trade, prevention of increased availability of commodities to unfriendly nations, and nonauthorization of transactions with Russia or Communist China. See section 1703(j) of this title.

Section 1694, acts July 10, 1954, ch. 469, title III, § 305, 68 Stat. 459; Sept. 21, 1959, Pub. L. 86-341, title I, § 10, 73 Stat. 607, provided for identification of packages and containers by appropriate markings. See section 1722 of this title.

Section 1695, act July 10, 1954, ch. 469, title III, § 306, as added Sept. 21, 1959, Pub. L. 86-341, title I, § 11, 73 Stat. 608, provided for distribution of surplus food commodities to needy persons in United States: authorization, term of program, and cost limitation; duties of Secretary of Agriculture; issuance of food stamps and their redemption; receipt of benefits not deemed income or resources under provisions of other laws; availability of surplus foods for distribution; definition of needy person; report to Congress; and authorization of appropriations. See Food Stamp Program classified to chapter 51 of this title.

Section 1696, act July 10, 1954, ch. 469, title III, § 307, as added Sept. 21, 1959, Pub. L. 86-341, title I, § 12, 73 Stat. 609, provided for availability of surplus commodities for distribution to needy families and persons in United States. See Food Stamp Program classified to chapter 51 of this title and provisions of section 1721 et seq. of this title relating to donations of food on a government-to-government basis and through voluntary organizations.

Section 1697, act July 10, 1954, ch. 469, title III, § 308, as added Sept. 21, 1959, Pub. L. 86-341, title I, § 13, 73 Stat. 609, and amended Sept. 27, 1962, Pub. L. 87-703, title II, § 203, 76 Stat. 611, related to disposal of animal fats and edible oils. See section 1721 et seq. of this title.

EFFECTIVE DATE OF REPEAL

Repeal of sections effective Jan. 1, 1967, see section 5 of Pub. L. 89-808, set out as an Effective Date of 1966 Amendment note under section 1691 of this title.

SUBCHAPTER II-SALE OF AGRICULTURAL COMMODITIES FOR FOREIGN CURRENCIES AND LONG-TERM-DOLLARCREDIT

SUBCHAPTER REFERRED TO IN OTHER SECTIONS This subchapter is referred to in sections 1724, 1727a, 1727b, 1727c, 1732, 1736a, 1736b, 1736c, 1736e, 1743, 1766b of this title; title 22 sections 2103, 2291.

§ 1701. Agreements with friendly countries

In order to carry out the policies and accomplish the objectives set forth in section 1691 of this title, the President is authorized to negotiate and carry out agreements with friendly

countries to provide for the sale of agricultural commodities for dollars on credit terms or for foreign currencies, to the extent that sales for dollars under the terms applicable to such sales are not possible, for foreign currencies on credit terms and on terms which permit conversion to dollars at the exchange rate applicable to the sales agreement.

(July 10, 1954, ch. 469, title I, § 101, 68 Stat. 455; Sept. 6, 1958, Pub. L. 85-931, § 1, 72 Stat. 1790; Aug. 8, 1961, Pub. L. 87-128, title II, § 201(1), 75 Stat. 306; Dec. 16, 1963, Pub. L. 88-205, pt. IV, § 403(a), 77 Stat. 390; Oct. 8, 1964, Pub. L. 88-638, § 1(1), (2), 78 Stat. 1035; Nov. 11, 1966, Pub. L. 89-808, § 2(B), 80 Stat. 1526; Dec. 29, 1981, Pub. L. 97-113, title IV, § 401(1), 95 Stat. 1537.)

AMENDMENTS

1981-Pub. L. 97-113 substituted", to the extent that sales for dollars under the terms applicable to such sales are not possible, for foreign currencies on credit terms and on terms which permit conversion to dollars at the exchange rate applicable to the sales agreement" for "for foreign currencies".

1966-Pub. L. 89-808 substituted "agreements with friendly countries to provide for the sale of agricultural commodities for dollars on credit terms or for foreign currencies" for "agreements with friendly nations or organizations of friendly nations to provide for the sale of surplus agricultural commodities for foreign currencies" and deleted subsecs. (a) to (d), (f), and (g), relating to safeguarding usual marketings and disruption of world prices and normal patterns of commercial trade with friendly countries, use of private channels to maximum extent practicable, development and expansion of foreign markets, restrictive commitments from participating countries, exchange rates, and currency conversion, now covered by section 1703(c), (e) to (h), and (m)(1) of this title, respectively, and subsec. (e), relating to maximum opportunity for friendly nation to purchase surplus agricultural commodities.

1964-Subsec. (f). Pub. L. 88-638, § 1(1), inserted ", and which are not less favorable than the highest of exchange rates obtainable by any other nation", and deleted "from the government or agencies thereof" preceding "in the respective countries".

Subsec. (g). Pub. L. 88-638, § 1(2), added subsec. (g). 1963-Subsec. (f). Pub. L. 88-205 substituted "the highest of exchange rates legally obtainable from the Government or agencies thereof" for "the rates at which United States Government agencies can buy currencies from the United States disbursing officers". 1961-Subsec. (f). Pub. L. 87-128 added subsec. (f). 1958-Subsec. (a). Pub. L. 85-931 required the President to take reasonable precautions to assure that sales of surplus commodities would not disrupt normal patterns of commercial trade with friendly countries.

EFFECTIVE DATE OF 1966 AMENDMENT Amendment by Pub. L. 89-808 effective Jan. 1, 1967, see section 5 of Pub. L. 89-808, set out as a note under section 1691 of this title.

DELEGATION OF FUNCTIONS

For delegation of certain functions of the President under this section, see Ex. Ord. No. 12220, June 27, 1980, 45 F.R. 44245, set out as a note under section 1691 of this title.

EMERGENCY FOOD ASSISTANCE TO INDIA Pub. L. 90-7, Apr. 1, 1967, 81 Stat. 7, provided:

"That the Congress approves the participation of the United States in cooperation with other countries and with multilateral organizations, including the In

ternational Bank for Reconstruction and Development, the Organization for Economic Cooperation and Development, the Food and Agriculture Organization, and others, in urgent international efforts designed to

“(a) develop a comprehensive self-help approach to the war on hunger based on a fair sharing of the burden among the nations of the world;

“(b) encourage and assist the Government of India in achieving food self-sufficiency; and

"(c) help meet India's critical food and nutritional needs by making available agricultural commodities or other resources needed for food procurement or production.

"Because uncertainty in connection with Public Law 480 transactions tends to depress market prices, it is the sense of Congress that, in carrying out this Aid to India program, the Administration should, subject to the requirement of section 401 of Public Law 480 [section 1731 of this title] with respect to the availability of the commodity at the time of exportation, make announcements of intention, purchases and shipments of commodities on schedules and under circumstances which will protect and strengthen farm market prices to the maximum extent possible.

"The Congress endorses the President's policy of equal participation on the part of the United States with all other nations, under terms and conditions set forth in Public Law 480, as amended [this chapter), in assisting the Government of India to meet these needs.

"Further, the Congress recommends, on the basis of estimates now available, that the United States provide an additional amount of food grain not to exceed three million tons at an estimated cost of $190,000,000 as the United States share toward meeting the India food deficit, provided it is appropriately matched, and specifically extends its support to the allocation of approximately $190,000,000 of funds available to the Commodity Credit Corporation in calendar year 1967 which will be required to accomplish this purpose.

"The Congress further recommends that the President provide an additional $25,000,000 of emergency food relief for distribution by CARE and other American voluntary agencies."

COTTON AND COTTON PRODUCTS

Section 8 of Pub. L. 85-931 as amended by Pub. L. 89-808, § 3(d), Nov. 11, 1966, 80 Stat. 1538, provided that: "In carrying out the provisions of the Agricultural Trade Development and Assistance Act of 1954, as amended [this chapter], extra long staple cotton shall be made available for sale pursuant to the provisions of title I of the Act [this subchapter] in the same manner as upland cotton or any other surplus agricultural commodity is made available, and products manufactured entirely from upland or long staple cotton shall be made available for sale pursuant to the provisions of title I of the Act [this subchapter] as long as cotton is in surplus supply in the same manner as any other agricultural commodity or product is made available, and no discriminatory or other conditions shall be imposed which will prevent or tend to interfere with their sale or availability for sale under the Act [this chapter]."

Amendment by Pub. L. 89-808 effective Jan. 1, 1967, see section 5 of Pub. L. 89-808, set out as a note under section 1691 of this title.

CARGO PREFERENCE LAW EXEMPTION Section 3 of act Aug. 3, 1956, ch. 933, 70 Stat. 988, provided that: “Sales of fresh fruit and the products thereof under title I of the Act [sections 1701 to 1704, 1705 to 1707, 1708 to 1711 of this title] shall be exempt from the requirements of the cargo preference laws (Public Resolution 17, Seventy-third Congress [section 1241-1 of Title 46] and section 901(b) of the Merchant Marine Act, 1936 [section 1241(b) of Title 46])."

DISPOSITION of Surplus AGRICULTURAL COMMODITIES Disposition of surplus agricultural commodities to foreign countries, see section 1922 of Title 22, Foreign Relations and Intercourse.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in title 22 section 1922.

§ 1702. Financing sale and exportation of agricultural commodities from private or public stocks

For the purpose of carrying out agreements concluded under this chapter the Commodity Credit Corporation is authorized to finance the sale and exportation of agricultural commodities whether from private stocks or from stocks of the Commodity Credit Corporation and, when requested by the purchaser of such commodities, may serve as the purchasing or shipping agent, or both, in arranging the purchasing or shipping of such commodities.

(July 10, 1954, ch. 469, title I, § 102, 68 Stat. 455; April 25, 1955, ch. 27, 69 Stat. 44; Oct. 8, 1964, Pub. L. 88-638, § 1(3), 78 Stat. 1035; Nov. 11, 1966, Pub. L. 89-808, § 2(B), 80 Stat. 1526; July 29, 1968, Pub. L. 90-436, § 9, 82 Stat. 451; Aug. 3, 1977, Pub. L. 95-88, title II, § 201(a), 91 Stat. 545; Sept. 29, 1977, Pub. L. 95-113, title XII, § 1201, 91 Stat. 955.)

AMENDMENTS

1977-Pub. L. 95-113 added provisions authorizing the Corporation, when requested by the purchaser of commodities, to serve as the purchasing or shipping agent, or both, in arranging the purchasing or shipping of the commodities.

Pub. L. 95-88 struck out the proviso prohibiting the financing by the Commodity Credit Corporation of the sale and export of agricultural commodities where the exporter had engaged in any sales, trade, or commerce with North Vietnam, or with any resident thereof, or which owned or controlled any company so engaged either directly or indirectly, and struck out an additional proviso requiring that financing applications be accompanied by statements in which were listed the branches, etc., in which the applicant had a controlling interest and the companies which had a controlling interest in the applicant company.

1968-Pub. L. 90-436 added the proviso that the Commodity Credit Corporation should not finance the sale and export of any agricultural commodities where the exporter has engaged in any sales, trade or commerce with North Vietnam, or with any resident thereof, or which owns or controls any company so engaged, or which is owned or controlled by any company or person so engaged either directly or indirectly, and the further proviso that the financing application be accompanied by a statement in which are listed the branches, etc., in which the applicant has a controlling interest and the companies which have a controlling interest in the applicant company.

1966-Pub. L. 89-808 incorporated provisions formerly constituting subsec. (a)(2), and deleted other provisions of subsec. (a) and (a)(1) relating to availability of stocks acquired in price support operations and ocean freight charges, such charges now covered by section 1708 of this title, and subsec. (b) for letters of commitment against funds or guaranties and establishment of accounts.

1964-Subsec. (a). Pub. L. 88-638 authorized the Commodity Credit Corporation to finance ocean freight charges incurred under agreements entered into after Dec. 31, 1964, to the extent such charges are higher because of the requirement that the commodities be shipped in United States flag vessels, and pro

J

vided that such agreements require the balance of such charges to be paid in dollars.

1955-Subsec. (a). Act Apr. 25, 1955 eliminated requirement that exporters of privately owned stocks acquire an equivalent quantity of Commodity Credit Corporation stocks.

EFFECTIVE DATE OF 1977 AMENDMENTS

Amendment by Pub. L. 95-113 effective Oct. 1, 1977, see section 1901 of Pub. L. 95-113, set out as an Effective Date of 1977 Amendment note under section 1307 of this title.

Section 215 of Pub. L. 95-88 provided that: "The provisions of this title [enacting sections 1712 to 1714 and 1727 to 1727f of this title, amending sections 1427, 1431, 1692, 1702, 1703, 1706, 1711, 1721, 1722, 1723, 1726, 1731, and 1736b of this title, and enacting provisions set out as notes under sections 1708 and 1722 of this title] shall become effective October 1, 1977."

EFFECTIVE Date of 1966 AMENDMENT Amendment by Pub. L. 89-808 effective Jan. 1, 1967, see section 5 of Pub. L. 89-808, set out as a note under section 1691 of this title.

DISPOSITION of Surplus AGRICULTURAL COMMODITIES Disposition of surplus agricultural commodities to foreign countries, see section 1922 of Title 22, Foreign Relations and Intercourse.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1707 of this title.

§ 1703. Agreements with friendly countries and organizations; terms and conditions

In exercising the authorities conferred upon him by this subchapter, the President shall— (a) Self-help measures to increase agricultural production, improve food commodity transportation, storage, and distribution facilities, and reduce population growth rate

take into account efforts of friendly countries to help themselves toward a greater degree of self-reliance, including efforts to increase their own agricultural production, especially through small, family farm agriculture, to improve their facilities for transportation, storage, and distribution of food commodities, and to reduce their rate of population growth;

(b) Provision for payment in foreign currencies

except where the President determines that it would be inconsistent with the objectives of this chapter, determine the amount of foreign currencies needed for the uses specified in subsections (a), (b), (e), and (h) of section 1704 of this title and in subchapter III-A of this chapter, and the agreements for credit sales shall provide for payment of such amounts in dollars or in foreign currencies upon delivery of the agricultural commodities; and such payment may be considered as an advance payment of the earliest installments;

(c) Safeguarding usual marketings; disruption of world prices and normal patterns of commercial trade with friendly countries

take reasonable precautions to safeguard usual marketings of the United States and to assure that sales under this subchapter will not unduly disrupt world prices of agricultural commodities or normal patterns of commercial trade with friendly countries;

(d) Sales agreements with countries friendly to United States; reports to Congress; aggressor countries

make sales agreements only with those countries which he determines to be friendly to the United States: Provided, That the President shall periodically review the status of those countries which are eligible under this subsection and report the results of such review to the Congress. As used in this chapter, “friendly country" shall not include any country or area dominated or controlled by a foreign government or organization controlling a world Communist movement. Notwithstanding any other act, the President may enter into agreements for the sale of agricultural commodities for dollars on credit terms under this subchapter with countries which fall within the definition of "friendly country" for the purpose of such sales and no sales under this chapter shall be made with any country if the President finds such country is (a) an aggressor, in a military sense, against any country having diplomatic relations with the United States, or (b) using funds, of any sort, from the United States for purposes inimical to the foreign policies of the United States;

(e) Use of private trade channels to maximum extent practicable; small business sales participation take appropriate steps to assure that private trade channels are used to the maximum extent practicable both with respect to sales from privately owned stocks and with respect to sales from stocks owned by the Commodity Credit Corporation and that small business has adequate and fair opportunity to participate in sales made under the authority of this chapter; (f) Development and expansion of markets

give consideration to the development and expansion of markets for United States agricultural commodities and local foodstuffs by increasing the effective demand for agricultural commodities through the support of measures to stimulate equitable economic growth in recipient countries, with appropriate emphasis on developing more adequate storage, handling, and food distribution facilities;

(g) Restrictive commitments from purchasing countries

obtain commitments from purchasing countries that will prevent resale or transshipment to other countries, or use for other than domestic purposes, of agricultural commodities purchased under this subchapter, without specific approval of the President;

(h) Exchange rates

obtain rates of exchange applicable to the sale of commodities under such agreements which are not less favorable than the highest of exchange rates legally obtainable in the respective countries and which are not less favorable than the highest of exchange rates obtainable by any other nation;

(i) Production emphasis: food crops rather than nonfood crops in world supply

promote progress toward assurance of an adequate food supply by encouraging countries with which agreements are made to give higher emphasis to the production of food crops than to the production of such nonfood crops as are in world surplus;

(j) Assistance to friendly countries in being independent of domination or control by world Communist movement; sales agreements not authorized with government or organization controlling world Communist movement or with country not having diplomatic relations with United States exercise the authority contained in this subchapter to assist friendly countries to be independent of domination or control by any world Communist movement. Nothing in this chapter shall be construed as authorizing sales agreements under this subchapter with any government or organization controlling a world Communist movement or with any country with which the United States does not have diplomatic relations;

(k) Minimum payments in dollars or currencies convertible into dollars

whenever practicable require upon delivery that not less than 5 per centum of the purchase price of any agricultural commodities sold under this subchapter be payable in dollars or in the types or kinds of currencies which can be converted into dollars;

(1) Publicity in purchasing countries

obtain commitments from purchasing countries to publicize widely to their people, by public media and other means, that the commodities are being provided on a concessional basis through the friendship of the American people as food for peace;

(m) Currency conversion

require foreign currencies to be convertible to dollars to the extent consistent with the effectuation of the purposes of this chapter, but in any event to the extent necessary to (1) permit that portion of such currencies made available for payment of United States obligations to be used to meet obligations or charges payable by the United States or any of its agencies to the government of the importing country or any of its agencies, and (2) in the case of excess currency countries, assure convertibility by sale to American tourists, or otherwise, of such additional amount (up to twenty-five centum of the foreign currencies received pursuant to each agreement entered into after January 1, 1967) as may be necessary to cover all normal expenditures of American tourists in the importing country;

(n) Displacement of cash sales

take maximum precautions to assure that sales for dollars on credit terms under this chapter shall not displace any sales of United States agricultural commodities which would otherwise be made for cash dollars;

(0) Commercial purchases of agricultural commodities; availability of commercial supplies for programs

take steps to assure that the United States obtains a fair share of any increase in commercial purchases of agricultural commodities by the purchasing country and that commercial supplies are available to meet demands developed through programs carried out under this chapter.

(p) Convertibility of foreign currencies received pursuant to sales to United States or purchasing country contractors for payment of wages assure convertibility at such uniformly applied exchange rates as shall be agreed upon of up to 50 per centum of the foreign currencies received pursuant to each agreement by sale to United States or purchasing country contractors for payment of wages earned in the development and consummation of works of public improvement in the purchasing country; and (q) Convertibility of foreign currencies received pursuant to sales to United States importers

assure convertibility of up to 50 per centum of the foreign currencies received pursuant to each agreement by sale to United States importers for the procurement of materials or commodities in the purchasing country.

(July 10, 1954, ch. 469, title I, § 103, 68 Stat. 456; Aug. 12, 1955, ch. 873, § 1, 69 Stat. 721; May 28, 1956, ch. 327, title II, § 208(a), 70 Stat. 201; Aug. 3, 1956, ch. 933, § 1, 70 Stat. 988; Aug. 13, 1957, Pub. L. 85-128, § 1(2), 71 Stat. 345; Sept. 6, 1958, Pub. L. 85-931, § 2, 72 Stat. 1790; Sept. 21, 1959, Pub. L. 86-341, title I, § 2, 73 Stat. 606; May 4, 1961, Pub. L. 87-28, 75 Stat. 64; Aug. 8, 1961, Pub. L. 87-128, title II, § 201(2), 75 Stat. 306; Oct. 8, 1964, Pub. L. 88-638, § 1(4), (5), 78 Stat. 1035; Nov. 11, 1966, Pub. L. 89–808, § 2(B), 80 Stat. 1526; July 29, 1968, Pub. L. 90-436, §§ 4, 5, 82 Stat. 450; Nov. 30, 1970, Pub. L. 91-524, title VII, § 703, as added Aug. 10, 1973, Pub. L. 93-86, § 1(26), 87 Stat. 237; Oct. 18, 1973, Pub. L. 93-125, § 1(e)(i), 87 Stat. 450; Dec. 20, 1975, Pub. L. 94-161, title II, § 203, 89 Stat. 851; Aug. 3, 1977, Pub. L. 95-88, title II, §§ 201(b), 211(b)(1), 91 Stat. 545, 551; Oct. 6, 1978, Pub. L. 95-424, title I, 102(b)(2)(B), 92 Stat. 941; Aug. 14, 1979, Pub. L. 96-53, title II, § 201, 93 Stat. 368; Dec. 29, 1981, Pub. L. 97-113, title IV, § 401(2)-(4), 95 Stat. 1537.)

CODIFICATION

In amendment to subsec. (o) of this section by Pub. L. 91-524 as added by Pub. L. 93-86 designation of amending provision of Pub. L. 91-524 was omitted. Pub. L. 93-125 provided for the designation of such amendment as section 703 of Pub. L. 91-524.

AMENDMENTS

1981-Subsec. (b). Pub. L. 97-113, § 401(2), deleted requirement that the President take steps to assure a progressive transition from sales for foreign currencies to sales for dollars (or to the extent that transition to sales for dollars under the terms applicable to such sales is not possible, transition to sales for foreign currencies on credit terms no less favorable to the United States than those for development loans made under section 2151t of title 22, and on terms which permit conversion to dollars at the exchange rate applicable