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52 Stan 870.

""••' ' V-

^ 81 Stat. 511. 11 USC 104.

[84 STAT.

view to sale, or ( III) to cover consummated sales, or (IV) pursuant to purchases, or (V) as collateral security, or ( VI) by way of loans of securities by such persons to the debtor, and shall include persons who have claims against the debtor arising out of sales or conversions of such securities, and shall include any person who has deposited cash with the debtor for the purpose of purchasing securities, but shall not include any person to the extent that such person has a claim for property which by contract, agreement, or understanding, or by operation of law, is part of the capital of the debtor or is subordinated to the claims of creditors of the debtor; (iii) "cash customer" means, with respect to any securities or cash, customers entitled to immediate possession of such securities or cash without the payment of any sum to the debtor, and for purposes of this clause, the same person may be a cash customer with reference to certain securities or cash and not a cash customer with reference to other securities or cash; (iv) "net equity" of a customer's account or accounts means the dollar amount thereof determined by giving effect to open contractual commitments completed as provided in subsection (d), by excluding any specifically identifiable property reclaimable by the customer, and by subtracting the indebtedness, if any, of the customer to the debtor from the sum which would have been owing by the debtor to the customer had the debtor liquidated, by sale or purchase on the filing date, all other securities and contractual commitments of the customer, and for purposes of this definition, accounts held by a customer in separate capacities shall be deemed to be accounts of separate customers; and (v) "securities" has the same meaning as such term j^^s under section 60e of the Bankruptcy Act. (B) SINGLE AND SEPARATE FUND.—All property at any time received, acquired, or held by or for the account of a debtor from or for the account of customers except cash customers who are able to identify specifically their property in the manner prescribed in subparagraph (C), and the proceeds of all customers' property transferred by the debtor, including property unlawfully converted, shall constitute a single and separate fund; and all customers except such cash customers shall constitute a single and separate class of creditors, entitled to share ratably in such fund on the basis of their respective net equities as of the filing date and in priority to all other payments, except that (i) there shall be repaid to S I P C, in priority to all other claims payable from such single and separate fund, the amount of all advances made by S I P C to the trustee to permit the completion of open contractual commitments pursuant to subsection (d), and (ii) to the extent that any other assets of the debtor may be available therefor or as otherwise ordered by the court, all costs and expenses specified in clauses (1) and (2) of section 64a of the Bankruptcy Act shall be paid from such single and separate fund in priority to the claims of such single and separate class of creditors, and any moneys advanced by S I P C for such costs and expenses shall be recouped as such. If such single and separate fund shall not be sufficient to pay in full the

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claims of such single and separate class of creditors, the creditors of such class shall be entitled, to the extent only of their respective unpaid balances, to share in the general estate with general creditors. In, or for the purpose of, distributing such fund, all property other than cash shall be valued as of the close of business on the filing date. To the greatest extent considered practicable by the trustee, the trustee shall deliver in payment of claims of customer's for their net equities based upon securities held on the filing date in their accounts (after giving effect to open contractual commitments completed as hereinafter provided), securities of the same class and series of an issuer ratably up to the respective amounts which were so held in such accounts. Any property remaining after the liquidation of a lien or pledge made by a debtor shall be apportioned between his general estate and the single and separate fund in the proportion in which the general property of the debtor and the property of his customers contributed to such lien or pledge. (C)

SPECIFICALLY IDENTIFIABLE PROPERTY.—The trustee

shall return specifically identifiable property to the customers of the debtor, entitled thereto. No cash or securities at any time received, acquired, or held by or for the account of a debtor from or for the accounts of customers shall for the purposes of this paragraph be deemed to be specifically identified, unless such property remained in its identical form in the debtor's possession until the filing date, or unless such property was allocated to or physically set aside for such customers on the filing date. I n determining whether property was allocated to or physically set aside for such customers, it shall be sufficient that on the filing date: (i) securities are segregated individually, or in bulk for customers collectively; (ii) in the case of securities held for the account of the debtor as part of any central certificate service of any clearing corporation or any similar depositary— (I) the records of the debtor show or there is otherwise established to the satisfaction of the trustee that all or a specified part of the securities held by such clearing corporation or other similar depositary are held for specified customers, or for customers collectively, and ( II) such records of the debtor also show or there is otherwise established to the satisfaction of the trustee the identities of the particular customers entitled to receive specified numbers or units of such securities so held for customers collectively; or (iii) such property is held for the account of customers of the debtor in such other manner as the Commission, for the protection of customers and other creditors on a fair and equitable basis, by rule or regulation shall have determined to be sufficiently identifiable as the property of such customers. If there is any shortage in securities of the same class and series of an issuer so segregated in bulk or otherwise held for customers pursuant to this subparagraph, as compared to the aggregate rights of particular customers to receive securities of such class and series, the respective interests of such customers in such securities of such class and series shall

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be prorated, without prejudice, however, to the satisfaction of any claim for deficiencies as otherwise provided in this section. (D) Where such single and separate fund is not sufficient to pay in full the claims of such single and separate class of creditors, a transfer by a debtor of any property which, except for such transfer, would have been a part of such fund may be recovered by the trustee for the benefit of such fund, if such transfer is voidable or void under the pro30 Stat. 544. vislous of the Bankruptcy Act. For the purpose of such 11 USC 1 e( seq. rccovery, the property so transferred shall be deemed to have been the property of the debtor and, if such transfer was made to a customer or for his benefit, such customer shall be deemed to have been a creditor, the laws of any State to the contrary notwithstanding. Subject to the provisions of paragraph (D), if any securities received or acquired by a debtor from a cash customer are transferred by the debtor, such customer shall not have any specific interest in or specific right to any securities of like kind on hand on the filing date, but such securities of like kind or the proceeds thereof shall become part of such single and separate fund. (d) COMPLETION OF O P E N CONTRACTURAL COMMITMENTS.—The trustee shall complete those contractual commitments of the debtor relating to transactions in securities which were made in the ordinary course of debtor's business and which were outstanding on the filing date— (1) in which a customer had an interest, except those commitments the completion of which the Commission shall have determined by rule or regulation not to be in the public interest, or (2) in which a customer did not have an interest, to the extent that the Commission shall by rule or regulation have determined the completion of such commitments to be in the public interest. "Customer.'* YoY purposes of this subsection (but not for any other purpose of this Act)(i) the term "customer" means any person other than a broker or dealer, and (ii) a customer shall be deemed to have had an interest in a transaction if a broker participating in the transaction was acting as agent for a customer, or if a dealer participating in the transaction held a customer's order which was to be executed as a part of the transaction. All property at any time received, acquired, or held by or for the account of the debtor (except for cash or securities that are specifically identifiable as the property of particular customers and are not the subject of an open contractual commitment), and all property in the single and separate fund, shall be available to complete open contractual commitments pursuant to this subsection. Securities purchased or cash received by the trustee upon completion of any such commitment shall constitute specifically identifiable property of a customer to the extent that such commitment was completed with property which constituted specifically identifiable property of such customer on the filing date, or was paid or delivered by or for the account of such customer to the debtor or the trustee after the filing date. (e) NOTICE.—Promptly after his appointment, the trustee shall cause notice of the commencement of proceedings under this section to be published in accordance with a designation of the court, made in ff usc^'s^i^^* accordance with the requirements of section 28 of the Bankruptcy Act, and at the same time shall cause to be mailed a copy of such notice to each of the customers of the debtor as their addresses shall appear from the debtor's books and records. Except as the trustee may other-

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wise permit, claims for specifically identifiable property (other than securities registered in the name of the claimant or segregated for him in his individual name) or claims payable from property in the single and separate fund or payable with moneys advanced by S I P C, shall not be paid other than from the general estate of the debtor unless filed within such period of time (not exceeding sixty days after such publication) as may be fixed by the court, and no claim shall be allowed after the time specified in section 57 of the Bankruptcy Act. Subject to the foregoing, and without limiting the powers and duties of the trustee to discharge promptly obligations as specified in this section, the court may make appropriate provision for proof and enforcement of all claims against the debtor including those of any subrogee. (f) S I P C ADVANCES TO TRUSTEE.— (1) ADVANCES FOR CUSTOMERS' CLAIMS.—In order to provide for prompt payment and satisfaction of the net equities of customers of debtor, S I P C shall advance to the trustee such moneys as may be required to pay or otherwise satisfy claims in full of each customer, but not to exceed $50,000 for such customer; except that— (A) insofar as all or any portion of the net equity of a customer is a claim for cash, as distinct from securities, the amount advanced by reason of such claim to cash shall not exceed $20,000; (B) a customer who holds accounts with the debtor in separate capacities shall be deemed to be a different customer in each capacity; (C) no such advance shall be made by S I P C to the trustee to pay or otherwise satisfy, directly or indirectly, any claims of any customer who is a general partner, officer, or director of the debtor, the beneficial owner of 5 per centum or more of any class of equity security of the debtor (other than a nonconvertible stock having fixed preferential dividend and liquidation rights) or limited partner with a participation of 5 per centum or more in the net assets or net profits of the debtor; and (D) no such advance shall be made by S I P C to the trustee to pay or otherwise satisfy claims of any customer who is a broker or dealer or bank other than to the extent that it shall be established to the satisfaction of the trustee, from the books and records of the debtor or from the books and records of a broker or dealer or bank or otherwise, that claims of such broker or dealer or bank against the debtor arise out of transactions for customers of such broker or dealer or bank, in which event, each such customer of such broker or dealer or bank shall be deemed a separate customer of the debtor. To the extent that moneys are advanced by S I P C to the trustee to pay the claims of customers, S I P C shall be subrogated to the claims of such customers with the rights and priorities provided in this section. (2) OTHER ADVANCES.—SIPC may advance to the trustee such moneys as may be required to effectuate subsection (b)(1)(A). S I P C shall advance to the trustee such moneys as (with those available pursuant to subsection (d)) may be required to effectuate subsection (d). (g)

PAYMENTS TO CUSTOMERS; No PROOF OF CLAIM REQUIRED.—It

shall be the duty of the trustee to discharge promptly, in accordance with the provisions of this section, all obligations of the debtor to each of its customers relating to, or net equities based upon, securities or cash by the delivery of securities or the effecting of payments to such 47-348 O - 72 - 21 (Pt. 2)

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52 Stat. 866; 76 Stat. 570.

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78 Stat. 565. 15 USC 78c.

5 2 Stat. 890. 48 sta^.^8^7'; 52 Stat. 1076.' 15 USC 78q.

PUBLIC LAW 91-598-DEC. 30, 1970

[84 STAT.

customer (subject to subsection (f)(1), to the extent that such payments are made out of advances from S I P C under such subsection) insofar as such obligations are ascertainable from the books and records of the debtor or are otherwise established to the satisfaction of the trustee, whether or not such customer shall have filed formal proof of such claim. For that purpose the court among other things shall— (1) in respect of claims relating to securities or cash, authorize the trustee to make payment out of moneys made available to the trustee by S I P C notwithstanding the fact that there shall not have been any showing or determination that there are sufficient funds of the debtor available to make such payment; and (2) in respect of claims relating to, or net equities based upon, securities of a class and series of an issuer, which are ascertainable from the books and records of the debtor or are otherwise established to the satisfaction of the trustee, authorize the trustee to deliver securities of such class and series if and to the extent available to satisfy such claims in whole or in part, with partial deliveries to be made pro rata to the greatest extent considered practicable by the trustee. Any payment or delivery of property pursuant to this subsection may be conditioned upon the trustee requiring claimants to execute in a form to be determined by the trustee, appropriate receipts, supporting affidavits, and assignments, but shall be without prejudice to the right of any claimant to file formal proof of claim within the period specified in subsection (e) for any balance of securities or cash to which he may deem himself entitled. (h) PROOF OF CLAIM BY ASSOCIATES AND OTHERS.—The provisions of this section permitting discharge of obligations of the debtor to pay cash or to deliver securities without formal proof of claim shall not apply to any person "associated" with the debtor as defined in section 3(,a) (18) of the 1934 Act, to any beneficial owner of 5 per centum or jnore of the voting stock of the debtor, or to any member of the immediate family of any of the foregoing. (i) KEPORTS BY TRUSTEE TO COURT.—All reports to the court by a trustee (other than reports required to be filed pursuant to section 167(3) of the Bankruptcy Act) shall be in such form and detail as, having due regard to the requirements of section 17 of the 1934 Act and the rules and regulations thereunder and the magnitude of items ^^^ trausactions involved in connection with the operations of a broker or dealer, the Commission shall determine by rules and regulations to present fairly the results of such proceeding as at the dates or for the periods covered by such reports. (j) EFFECT OF ACT ON CLAIMS.—Except as otherwise provided in this section, nothing in this section shall limit the right of any person to establish by formal proof such claims as such person may have to payment, or to delivery of specific securities, without resort to moneys advanced by S I P C to the trustee. SEC. 7. SEC FUNCTIONS. (a) ADMINISTRATIVE PROCEDURE.—Determinations of the Commis-

80 Stat. 383.

5 USC 551.

sion, for purposes of making rules or regulations pursuant to section 3(e) and section 9(f) shall be after appropriate notice and opportunity for a hearing, and for submission of views of interested persons, in accordance with the rulemaking procedures specified, in section 553 of title 5, United States Code, but the holding of a hearing shall not prevent adoption of any such rule or regulation upon expiration of the notice period specified in subsection (d) of such section and shall not be required to be on a record within the meaning of subchapter II of chapter 5 of such title.

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(b) ENFORCEMENT OF ACTIONS.—In the event of the refusal of S I P C to conunit its funds or otherwise to act for the protection of customers of any member of S I P C, the Commission may apply to the district court of the United States in which the principal office of S I P C is located for an order requiring S I P C to discharge its obligations under this Act and for such other relief as the court may deem appropriate to carry out the purposes of this Act. (c) EXAMINATIONS AND REPORTS.— (1) EXAMINATION OF S I P C, ETC.—The

Commission may make such examinations and inspections of S I P C and require S I P C to furnish it with such reports and records or copies thereof as the Commission may consider necessary or appropriate in the public interest or to effectuate the purposes of this Act. (2) REPORTS FROM SIPC,—As soon as practicable after the close of each fiscal year, S I P C shall submit to the Commission a written report relative to the conduct of its business, and the exercise of the other rights and powers granted by this Act, during such fiscal year. Such report shall include financial statements setting forth the financial position of S I P C at the end of such fiscal year and the results of its operations (including the source and application of its funds) for such fiscal year. The financial statements so included shall be examined by an independent public accountant or firm of independent public accountants, selected by S I P C and satisfactory to the Commission, and shall be accompanied by the report thereon of such accountant or firm. The Commission shall Report, trans.. transmit such report to the President and the Congress with such ^nd congress. comment thereon as the Commission may deem appropriate. (d) FINANCIAL. RESPONSIBILITY.—Section 15(c)(3) of the Securities Exchange Act of 1934 is amended to read as follows: 5 2 Stat. 1075. "(3) No broker or dealer shall make use of the mails or of any means or instrumentality of interstate commerce to effect any transaction in, or to induce or attempt to induce the purchase or sale of, any security (other than an exempted security or commercial paper, bankers' acceptances, or commercial bills) in contravention of such rules and regulations as the Commission shall prescribe as necessary or appropriate in the public interest or for the protection of investors to provide safeguards with respect to the financial responsibility and related practices of brokers and dealers including, but not limited to, the acceptance of custody and use of customers' securities, and the carrying and use of customers' deposits or credit balances. Such rules and regulations shall require the maintenance of reserves with respect to customers' deposits or credit balances, as determined by such rules and regulations." SEC. 8. EXAMINING AUTHORITY FUNCTIONS. Each member of S I P C shall file with such member's examining authority such information (including reports of, and information with respect to, the gross revenues from the securities business of such member, including the composition thereof, transactions in securities effected by such member, and other information with respect to such member's activities, whether in the securities business or otherwise, including customer accounts maintained, net capital employed, and activities conducted) as S I P C may determine to be necessary or appropriate for the purpose of making assessments under section 4. The examining authority shall file with S I P C all or such part of such information (and such compilations and analyses thereof) as S I P C, by bylaw or rule, shall prescribe. No application, report, or document filed pursuant to this section shall be deemed to be filed pursuant to section 18 of the 1934 Act. 48 Stat. 897. 15 USC 78r.

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[84 STAT.

SEC. 9. FUNCTIONS OF SELF-REGULATORY ORGANIZATIONS. (a) COLLECTING AGENT.—Each self-regulatory organization shall

78^stat^s*74°.^°' 48 Stat. 898; 82 Stat. 453. 788. "" '

act as collection agent for S I P C to collect the assessments payable by all members of S I P C for whom such self-regulatory organization is the examining authority, and members of S I P C who are not members of any self-regulatory organization shall make payment direct to S I P C. An examining authority shall be obligated to remit to S I P C assessments made under section 4 only to the extent that payments of such assessments are received by such examining authority. (b) IMMUNITY.—No self-regulatory organization shall have any liability to any person for any action taken or omitted in good faith pursuant to section 5(a)(1). (c) INSPECTIONS.—The self-regulatory organization of which a member of S I P C is a member shall inspect or examine such member for compliance with applicable financial responsibility rules, except that if a member of S I P C is a member of more than one self-regulatory organization, S I P C shall designate one of such self-regulatory organizations to inspect or examine such member of S I P C for compliance with applicable financial responsibility rules. Such self-regulatory organization shall be selected by S I P C on the basis of regulatory procedures employed, availability of staff, convenience of location, and such other factors as S I P C may consider appropriate for the protection of customers of its members. (d) REPORTS.—There shall be filed with S I P C by the self-regulatory organizations such reports of inspections or examinations of the members of S I P C (or copies thereof) as may be designated by S I P C by bylaw or rule. (e) CONSULTATION.—SIPC shall consult and cooperate with the self-regulatory organizations toward the end: (1) that there may be developed and carried into effect procedures reasonably designed to detect approaching financial difficulty upon the part of any member of S I P C; (2) that, as nearly as may be practicable, examinations to ascertain whether members of S I P C are in compliance with applicable financial responsibility rules will be conducted by the selfregulatory organizations under appropriate standards (both as to method and scope) and reports of such examinations will, where appropriate, be standard in form; and (3) that, as frequently as may be practicable under the circumstances, each member of S I P C will file financial information with, and be examined by, the self-regulatory organization which is the examining authority for such member. (f) FINANCIAL CONDITION or MEMBERS.—Notwithstanding the limitatious Contained in sections 15A and 19 of the 1934 Act and without limiting its powers, under those or other sections of the 1934 Act, the Commission may by such rules or regulations as it determines to be necessary or appropriate in the public interest and to effectuate the purposes of this Act— (1) require any self-regulatory organization to adopt any specifiea alteration of or supplement to its rules, practices, and procedures with respect to the frequency and scope of inspections and examinations relating to the financial condition of members of such self-regulatory organization and the selection and qualification of examiners; (2) require any self-regulatory organization to furnish S I P C and the Commission with reports and records or copies thereof relating to the financial condition of members of such self-regulatory organization; and

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(3) require any self-regulatory organization to insj^ect or examine any members of such self-regulatory organization in relation to the financial condition of such members. I n the case of a broker or dealer who is a member of more than one self-regulatory organization the Commission, to the extent practicable, shall avoid requiring duplication of examinations, inspections, and reports. SEC. 10. PROHIBITED ACTS.

(a) FAILURE To P A Y ASSESSMENT, ETC.—If a member of S I P C shall fail to file any report or information required pursuant to this Act, or shall fail to pay when due all or any part of an assessment made upon such member pursuant to this Act, and such failure shall not have been cured, by the filing of such report or information or by the making of such payment, together with interest thereon, within five days after receipt by such member of written notice of such failure given by or on behalf of S I P C, it shall be unlawful for such member, unless specifically authorized by the Commission, to engage in business as a broker or dealer. If such member denies that he owes all or any part of the amount specified in such notice, he may after payment of the full amount so specified commence an action against S I P C in the appropriate United States district court to recover the amount he denies owing. (b)

ENGAGING I N BUSINESS AFTER APPOINTMENT OF TRUSTEE.—It

shall be unlawful for any broker or dealer for whom a trustee has been appointed pursuant to this Act to engage thereafter in business as a broker or dealer, unless the Commission otherwise determines in the public interest. The Commission may by order bar or suspend for any period, any officer, director, general partner, owner of 10 per centum or more of the voting securities, or controlling person of any broker or dealer for whom a trustee has been appointed pursuant to this Act from being or becoming associated with a broker or dealer, if after appropriate notice and opportunity for hearing, the Commission shall determine such bar or suspension to be in the public interest. (c) EMBEZZLEMENT, ETC., or ASSETS OF SIPC.—Whoever steals, un-

lawfully abstracts, unlawfully and willfully converts to his own use or to the use of another, or embezzles any of the moneys, securities, or other assets of S I P C shall be fined not more than $50,000 or imprisoned not more than five years or both. SEC. 11. MISCELLANEOUS PROVISIONS. (a) PuBiJc INSPECTION OF REPORTS.—Any notice, report, or other document filed with S I P C pursuant to this Act shall be available for public inspection unless S I P C or the Commission shall determine that disclosure thereof is not in the public interest. Nothing herein shall act to deny documents or information to the Congress of the United States or the committees of either House having jurisdiction over financial institutions, securities regulation, or related matters under the rules of each body. Nor shall the Commission be denied any document or information which the Commission, in its judgment, needs. (b) APPLICATION OF ACT TO FOREIGN MEMBERS.—Except as otherwise provided by rule or regulation of the Commission, if the head office of a member is located, and the member's principal business is conducted, outside the United States, the provisions of this Act shall apply" to such member only in respect of the business of such member conducted in the United States. (c) LIABILITY OF MEMBERS OF SIPC.—Except for such assessments as may be made upon such member pursuant to the provisions of section 4, no member of S I P C shall have any liability under this Act as a member of S I P C for, or in connection with, any act or omission

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7fi^l^l^q^'6^^' 7o Stat. y / b.

26 USC 162.

68A Stat. 3. 26 USC 1 et seq.

48 Stat. 899 15 USC 78t.

c^g?es's!°

52 Stat. 1070; 78 Stat. 574. 15 USC 78o-3.

PUBLIC LAW 91-598-DEC. 30, 1970

[84 STAT.

of any other broker or dealer whether in connection with the conduct of the business or affairs of such broker or dealer or otherwise and, without limiting the generality of the foregoing, no member shall have any liability for or in respect of any indebtedness or other liability of SIPC. (d) LIABILITY or S I P C AND DIRECTORS.—Neither S I P C nor any of its Directors shall have any liability to any person for any action taken or omitted in good faith under or in connection with any matter contemplated by this Act. (e) ADVERTISING.—SIPC shall by bylaw or rule prescribe the manner in which a member of S I P C may display any sign or signs (or include in any advertisement a statement) relating to the protection to customers and their accounts, or any other protections, afforded under this Act. No member may display any such sign, or include in an advertisement any such statement, except in accordance with such bylaws and rules. (f) S I P C EXEMPT FROM TAXATION.—SIPC, its property, its franchise, capital, reserves, surplus, and its income, shall be exempt from all taxation now or hereafter imposed by the United States or by any State or local taxing authority, except that any real property and any tangible personal property (other than cash and securities) of S I P C shall be subject to State and local taxation to the same extent according to its value as other real and tangible personal property is taxed. Assessments made upon a member of S I P C shall constitute ordinary and necessary expenses in carrying on the business of such member for the purpose of section 162(a) of the Internal Revenue Code of 1954. The contribution and transfer to S I P C of funds or •

•

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i

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securities held by any trust established by a national securities exchange prior to January 1, 1970, for the purpose of providing assistance to customers of members of such exchange, shall not result in any taxable gain to such trust or give rise to any taxable income to any member of S I P C under any provision of the Internal Revenue Code of 1954, nor shall such contribution or transfer, or any reduction in assessments made pursuant to this Act, in any way affect the status, as ordinary and necessary expenses under section 162(a) of the Internal Revenue Code of 1954, of any contributions made to such trust by such exchange at any time prior to such transfer. Upon dissolution of S I P C, none of its net assets shall inure to the benefit of any of its members. (g) SECTION 20(a) OF 1934 ACT NOT To APPLY.—The provisions of subsection (a) of section 20 of the 1934 Act shall not apply to any liability under or in connection with this Act. (h) S E C STUDY OF UNSAFE OR UNSOUND PRACTICES.—Not later than twelve months after the date of enactment of this Act, the Commission shall compile a list of unsafe or unsound practices by mem^^^^ ^f S I P C in conducting their business and report to the Congress (1) the steps being taken under the authority of existing law to eliminate those practices and (2) recommendations concerning additional legislation which may be needed to eliminate those unsafe or unsound practices. SEC. 12. DEFINITIONS. For purposes of this Act: (1) SELF-REIGULATORY ORGANIZATION.—The term "self-regulatory organization" means a national securities exchange or a national securities association registered pursuant to subsection (b) of section 15A of the 1934 Act. ^ ^

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(2) FINANCIAL RESPONSIBILTY RULES.—The term "financial responsibility rules" means the rules and regulations pertaining to financial responsibility and related practices which are applicable to a broker or dealer, as prescribed by the Commission under subsection (c)(3) of section 15 of the 1934 Act or prescribed by a national securities exchange. (3) EXAMINING AUTHORITY.—The term "examining authority" means, with respect to any member of S I P C, the self-regulatory organization which inspects or examines such member of S I P C or the Commission if such member of S I P C is not a member of any self-regulatory organization. Approved December 30, 1970.

Ante, p. 1653.

Public Law 91-599 AN ACT To authorize United States participation in increases in the resources of certain international financial institutions, to provide for an annual audit of the Exchange Stabilization Fund by the General Accounting OflEice, and for other purposes.

Be it enacted iy the Senate and House of Representatives United States of America in Congress assembled,

December 30, 1970 [H. R. 18306]

of the

Chapter 1.—INTERNATIONAL MONETARY F U N D Sec. 1. Amendment of Bretton Woods Agreements Act. 2. Amendment of Special Drawing Rights Act.

§ 1. Amendment of Bretton Woods Agreements Act The Bretton Woods Agreements Act (22 U.S.C. 286-286k-2) is amended by adding at the end thereof the following new sections: "SEC. 22. (a) The United States Governor of the Fund is authorized to consent to an increase of $1,540,000,000 in the quota of the United States in the Fund. " (b) I n order to pay the increase in the United States quota in the Fund provided for in this section, there is hereby authorized to be appropriated $1,540,000,000, to remain available until expended. "SEC. 23. (a) The United States Governor of the Bank is authorized (1) to vote for an increase of $3,000,000,000 in the authorized capital stock of the Bank, and (2) if such increase becomes effective, to subscribe on behalf of the United States to two thousand four hundred and sixty-one additional shares of the capital stock of the Bank. " (b) I n order to pay for the increase in the United States subscription to the Bank provided for in this section, there is hereby authorized to be appropriated $246,100,000 to remain available until expended." § 2. Amendments of Special Drawing Rights Act Section 6 of the Special Drawing Rights Act (22 U.S.C. 286q) is amended to read as follows: "SEC. 6. Unless Congress by law authorizes such action, neither the President nor any person or agency shall on behalf of the United States vote to allocate in each basic period Special Drawing Rights under article X X IV, sections 2 and 3, of the Articles of Agreement of the Fund so that allocations to the United States in that period exceed an amount equal to the United States quota in the Fund as authorized under the Bretton Woods Agreements Act."

International financial institutions. U.S. subscriptions and quotas, increase.

59 Stat. 512; 79 Stat. 519.

Appropriation.

Appropriation.

82 Stat. 189.

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[84 STAT.

Chapter 2.—INTER-AMERICAN DEVELOPMENT BANK Sec.

21. Amendment of Inter-American Development Bank Act.

§ 21. Amendment of Inter-American Development Bank Act (a) The Inter-American Development Bank Act (22 U.S.C. 28382^staTri68!^' 283n) is amended by adding at the end thereof the following new section: "SEC. 18. (a) The United States Governor of the Bank is hereby authorized to vote in favor of the two resolutions proposed by the Governors at their annual meeting in April 1970 and now pending before the Board of Gt)vernors of the Bank, which provide for (1) an increase in the authorized capital stock to the Bank and additional subscriptions of members thereto and (2) an increase in the resources of the Fund for Special Operations and contributions thereto. Upon adoption of such resolutions the United States Governor is authorized to agree on behalf of the United States (1) to subscribe to eighty-two thousand three hundred and fifty-two shares of $10,000 par value of the increase in the authorized capital stock of the Bank of which sixty-seven thousand three hundred and fifty-two shall be callable shares and fifteen thousand shall be paid in and (2) to pay to the Fund for Special Operations an initial annual installment of $100,000,000 and, upon further authorization by the Congress, two subsequent annual installments of $450,000,000 each, in accordance with and subject to the terms and conditions of such resolutions. Appropriation. "(b) There are hereby authorized to be appropriaited, without fiscal year limitation, the amounts necessary for payment by the Secretary of the Treasury of (1) three annual nistallments of $50,000,000 each for the United States subscription to paid-in capital stock of the Bank; (2) two installments of $336,760,000 each for the United States subscription to the callable capital stock of the Bank; and (3) one installment of $100,000,000 for the United States share of the increase in the resources of the Fund for Special Operations of the Bank." (b) The first sentence of section 3(b) of the Inter-American Development Bank Act (22 U.S.C. 283a(b)) is amended by inserting immediately before the period at the end thereof the following: "and an alternate Executive Director". Chapter 3.—ANNUAL REPORT OF NATIONAL ADVISORY COUNCIL §31. Annual report The National Advisory Council on International Monetary and Financial Policies shall include in its annual report to the Congress (1) a statement with respect to each loan approved and outstanding, made by the International Bank for Reconstruction and Development, the International Development Association, the Inter-American Development Bank, and the Asian Development Bank, including an evaluation of new loans made by said organization and a progress report of the project covered by each loan, and a discussion of how each loan will benefit the people of the recipient country, and (2) a statement on steps taken jointly and individually by member countries of the Inter-American Development Bank to restrain their military expenditures, and to preserve and strengthen free and democratic institutions.

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PUBLIC LAW 91-599-DEC. 30, 1970

1659

Chapter 4.—AUDIT OF EXCHANGE STABILIZATION FUND Sec.

41. Annual report. 42. Audit by General Accounting Office.

§ 41. Annual report The last sentence of section 10(a) of the Gold Reserve Act of 1934 (31 U.S.C. 822a(a)) is amended to read: "The Secretary of the 48^stau^34i. Treasury shall annually make a report on the operations of the fund ^^ ^*^'' to the President and to the Congress." § 42. Audit by General Accounting Office Section 10(b) of the Gold Reserve Act of 1934 (31 U.S.C. 822a(b)) is amended by inserting after the first sentence thereof the following: "Subject to the foregoing provisions the administrative expenses of the fund shall be audited by the General Accounting Office at such times and in such manner as the Comptroller General of the United States may by regulation prescribe for the purpose of ascertaining that administrative funds are properly accounted for and that fully adequate accounting procedures and systems for control of such funds have been established. Except for information determined by the Secretary to be of an internationaly significant nature, there shall be furnished to the Comptroller General such information on the administrative expenses of the fund as is necessary to conduct the audit, and the Comptroller General or any of his representatives shall, for the purpose of securing this information, have access to all books, accounts, records, reports, files, and all other papers, things, or property belonging to or in use by the United States Government (other than records, reports, files, or other papers or things containing or revealing information determined by the Secretary of the Treasury to be of an internationaly significant nature)." Chapter 5.—EMPLOYEE B E N E F I T S FOR UNITED STATES REPRESENTATIVES §51. Employee benefits Notwithstanding the provisions of any other law, the Executive Directors and Directors and their alternates, representing the United States in the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, and the Asian Development Bank^ shall, in the discretion of the Secretary of the Treasury, each be eligible on the basis of such service and the total compensation received therefor, for all employee benefits afforded employees in the civil service of the United States. The Treasury Department shall serve as the employing office for collecting, accounting for, and depositing in the Civil Service Retirement and Disability Fund, Employees Life Insurance Fund, and Employees Health Benefits Fund, all retirement and health insurance benefits payments made by these employees, and shall make any necessary agency contributions from the fund established pursuant to section 10(a) of the Gold Reserve Act of 1934 (31 U.S.C. 822a(a)). This section shall be effective as of December 14, 1966. Approved December 30, 1970.

Effective date.

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PUBLIC LAW 91-600-DEC. 30, 1970

[84 STAT.

Public Law 91-600 December 30, 1970

[s- 3318] Library Services and Construction Amendments of 1970.

AN ACT To amend the Library Services and Construction Act, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Library Services and Construction Amendments of 1970". PURPOSE; AMENDMENT TO THE LIBRARY SERVICES AND CONSTRUCTION ACT

70 Stat. 293; 78 Stat. 16. 20 USC 351 note.

SEC. 2. (a) I t is the purpose of this Act to improve the administration, implementation, and purposes of the programs authorized by the Library Services and Construction Act, by lessening the administrative burden upon the States through a reduction in the number of State plans which must be submitted and approved annually under such Act and to afford the States greater discretion in the allocation of funds under such Act to meet specific State needs and, by providing for special programs to meet the needs of disadvantaged persons, in both urban and rural areas, for library services and for strengthening the capacity of State library administrative agencies for meeting the needs of all the people of the States. (b) The Library Services and Construction Act (20 U.S.C. 351 et seq.), is amended by striking out all that follows the first section and inserting in lieu thereof the following: "DECLARATION OF POLICY

"SEC. 2. (a) I t is the purpose of this Act to assist the States in the extension and improvement of public library services in areas of the States which are without such services or in which such services are inadequate, and with public library construction, and in the improvement of such other State library services as library services for physically handicapped, institutionalized, and disadvantaged persons, in strengthening State library administrative agencies, and in promoting interlibrary cooperation among all types of libraries. "(b) Nothing in this Act shall be construed to interfere with State and local initiative and responsibility in the conduct of library services. The administration of libraries, the selection of personnel and library books and materials, and, insofar as consistent with the purposes of this Act, the determination of the best uses of the funds provided under this Act shall be reserved to the States and their local subdivisions. uDEFINITIONS

"SEC. 3. The following definitions shall apply to this Act: " (1) 'Commissioner' means the Commissioner of Education. "(2) 'Construction' includes construction of new buildings and acquisition, expansion, remodeling, and alteration of existing buildings, and initial equipment of any such buildings, or any combination of such activities (including architects' fees and the cost of acquisition of land). For the purposes of this paragraph, the term 'equipment' includes machinery, utilities, and built-in equipment and any necessary enclosures or structures to house them; and such term includes all other items necessary for the functioning of a particular facility as a facility for the provision of library services.

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PUBLIC LAW 91-600-DEC. 30, 1970

"(3) 'Library service' means the performance of all activities of a library relating to the collection and organization of library materials and to making the materials and information of a library available to a clientele. "(4) 'Library services for the physically handicapped' means the providing of library services, through public or other nonprofit libraries, agencies, or organizations, to physically handicapped persons (including the blind and other visually handicapped) certified by competent authority as unable to read or to use conventional printed materials as a result of physical limitations. "(5) 'Public library' means a library that serves free of charge all residents of a community, district, or region, and receives its financial support in whole or in part from public funds. "(6) 'Public library services' means library services furnished by a public library free of charge. "(7) 'State' means a State, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, or the Trust Territory of the Pacific Islands, " (8) 'State Advisory Council on Libraries' means an advisory council for the purposes of clause (3) of section 6(a) of this Act which shall— " (A) be broadly representative of the public, school, academic, special, and institutional libraries, and libraries serving the handicapped, in the State and of persons using such libraries, including disadvantaged persons within the State; " (B) advise the State library administrative agency on the development of, and policy matters arising in the administration of, the State plan; and " (C) assist the State library administrative agency in the evaluation of activities assisted under this Act; "(9) 'State institutional library services' means the providing of books and other library materials, and of library services, to (A) inmates, patients, or residents of penal institutions, reformatories, residential training schools, orphanages, or general or special institutions or hospitals operated or substantially supported by the State, or (B) students in residential schools for the physically handicapped (including mentally retarded, hard of hearing, deaf, speech impaired, visually handicapped, seriously emotionally disturbed, crippled, or other health impaired persons who by reason thereof require special education) operated or substantially supported by the State. "(10) 'State library administrative agency' means the official agency of a State charged by law of that State with the extension and development of public library services throughout the State, which has adequate authority under law of the State to administer State plans in accordance with the provisions of this Act. "(11) 'Basic State plan' means the document which gives assurances that the officially designated State library administrative agency lias the fiscal and legal authority and capability to administer all aspects of this Act; provides assurances for establishing the State's policies, priorities, criteria, and procedures necessary to the implementation of all programs under provisions of this Act; and submits copies for approval as required by regulations promulgated by the Commissioner. "(12) 'Long-range program' means the comprehensive five-year program which identifies a State's library needs and sets forth the activities to be taken toward meeting the identified needs supported with the assistance of Federal funds made available under this Act. Such long-range programs shall be developed by the State library administrative agency and shall specify the State's policies, criteria,

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[84 STAT.

priorities, and procedures consistent with the Act as required by the regulations promulgated by the Commissioner and shall be updated as library progress requires. "(13) 'Annual program' means the projects which are developed and submitted to describe the specific activities to be carried out annually toward achieving fulfillment of the long-range program. These annual programs shall be submitted in such detail as required by regulations promulgated by the Commissioner. "AUTHORIZATIONS OF APPROPRIATIONS

"SEC. 4. (a) For the purpose of carrying out the provisions of this Act the following sums are authorized to be appropriated: " (1) For the purpose of making grants to States for library Post. p. 1666. services as provided in title I, there are authorized to be appropriated $112,000,000 for the fiscal year ending June 30, 1972, $117,600,000 for the fiscal year ending June '30, 1973, $123,500,000 for the fiscal year ending June 30, 1974, $129,675,000 for the fiscal year ending June 30, 1075, and $137,150,000 for the fiscal year ending June 30, 1976. "(2) For the purpose of making grants to States for public library construction, as provided in title II, there are authorized to be appropriated $80,000,000 for the fiscal year ending June 30, 1972. $84,000,000 for the fiscal year ending June 30, 1973, $88,000,000 for the fiscal year ending June 30, 1974, $92,500,000 for the fiscal year ending June 30, 1975, and $97,000,000 for the fiscal year ending June 30, 1976. " (3) For the purpose of making grants to States to enable them to carry out interlibrary cooperation programs authorized by title III, there are hereby authorized to be appropriated $15,000,000 for the fiscal year ending June 30, 1972, $15,750,000 for the fiscal year ending June 30, 1973, $16,500,000 for the fiscal year ending June 30, 1974, $17,300,000 for the fiscal year ending June 30, 1975, and $18,200,000 for the fiscal year ending June 30, 1976. "(b) Xotwithstanding any other provision of law, unless enacted in express limitation of the provisions of this subsection, any sums appropriated pursuant to subsection (a) shall (1). in the case of sums appropriated pursuant to paragraphs (1) and (3) thereof, be available for obligation and expenditure for the period of time specified in the Act making such appropriation, and (2), in the case of sums appropriated pursuant to paragraph (2) thereof, subject to regulations of the Commissioner promulgated in carrying out the provisions of section 5(b), be availaole for obligation and expenditure for the year specified in the Appropriation Act and for the next succeeding year. "ALLOTMENTS TO STATES

"SEC. 5. (a)(1) From the sums appropriated pursuant to paragraph (1), (2), or (3) of section 4(a) for any fiscal year, the Commissioner shall allot the minimum allotment, as determined under paragraph (3) of this subsection, to each State. Any sums remaining after minimum allotments have been made shall be allotted in the manner set forth in paragraph (2) of this subsection. "(2) From the remainder of any sums appropriated pursuant to paragraph (1), (2), or (3) of section 4(a) for any fiscal year, the Commissioner shall allot to each State such part of such remainder as the population of the State bears to the population of all the States.

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PUBLIC LAW 91-600-DEC. 30, 1970

"(3) For the purposes of this subsection, the 'minimum allotment' shall be— " (A) with respect to appropriations for the purposes of title I, $200,000 for each State, except that it shall be $40,000 in the case of Guam, American Samoa, the Virgin Islands, and the Trust Territory of the Pacific Islands; " (B) with respect to appropriations for the purposes of title II, $100,000 for each State, except that it shall be $20,000 in the case of Guam, American Samoa, the Virgin Islands, and the Trust Territory of the Pacific Islands; and " (C) with respect to appropriations for the purposes of title III, $40,000 for each State, except that it shall be $10,000 in the case of Guam, American Samoa, the Virgin Islands, and the Trust Territory of the Pacific Islands. If the sums appropriated pursuant to paragraph (1), (2), or (3) of section 4(a) for any fiscal year are insufficient to fully satisfy the aggregate of the minimum allotments for that purpose, each of such minimum allotments shall be reduced ratably. "(4) The population of each State and of all the States shall be determined by the Commissioner on the basis of the most recent satisfactory data available to him. "(5) There is hereby authorized for the purpose of evaluation (directly or by grants or contracts) of programs authorized by this Act, such 'sums as Congress may deem necessary for any fiscal year. "(b) The amount of any State's allotment under subsection (a) for any fiscal year from any appropriation made pursuant to paragraph (1), (2), or (3) of section 4(a) which the Commissioner deems will not be required for the period and the purpose for which such allotment is available for carrying out the State's annual program shall be available for reallotment from time to time on such dates during such year as the Commissioner shall fix. Such amount shall be available for reallotment to other States in proportion to the original allotments for such year to such States under subsection (a) but with such proportionate amount for any of such other State being reduced to the extent that it exceeds the amount which the Commissioner estimates the State needs and will be able to use for such period of time for which the original allotments were made and the total of such reductions shall be similarly reallotted among the States not suffering such a reduction. Any amount reallotted to a State under this subsection for any fiscal year shall be deemed to be a part of its allotment for such year pursuant to subsection (a). "STATE

PLANS

AND

PROGRAMS

"SEC. 6. (a) Any State desiring to receive its allotment for any purpose under this Act for any fiscal year shall (1) have in effect for such fiscal year a basic State plan as defined in section 3(11) and meeting the requirements set fortn in subsection (b), (2) submit an annual program as defined in section 3(13) for the purposes for which allotments are desired, meeting the appropriate requirements set forth in titles I, II, and III, and shall submit (no later than July 1, 1972) a long-range program as defined in section 3(12) for carrying out the purposes of this Act as specified in subsection (d), and (3) establish a State Advisory Council on Libraries which meets the requirements of section 3(8). "(b) A basic State plan under this Act shall— "(1) provide for the administration, or supervision of the administration, of the programs authorized by this Act by the State library administrative agency;

1663 "Minimum allotment."

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^^^'"•*^'

Notice; hearing oppor uni y.

PUBLIC LAW 91-600-DEC. 30, 1970

[84 STAT.

"(2) provide that any funds paid to the State in accordance with a long-range program and an annual program shall be expended solely for the purposes for which funds have been authorized and appropriated and that such fiscal control and fund accounting procedures have been adopted as may be necessary to assure proper disbursement of, and account for, Federal funds paid to the State (including any such funds paid by the State to any other agency) under this Act; (3) provide satisfactory assurance that the State agency administering the plan (A) will make such reports, in such form and containing such information, as the Commissioner may reasonably require to carry out his functions under this Act and to determine the extent to which funds provided under this Act have been effective in carrying out its purposes, including reports of evaluations made under the State plans, and (B) will keep such records and afford such access thereto as the Commissioner may find necessary to assure the correctness and verification of such reports; and "(4) set forth the criteria to be used in determining the adequacy of public library services in geographical areas and for groups of persons in the State, including criteria designed to assure that priority will be given to programs or projects which serve urban and rural areas with high concentrations of low-income families. "(c)(1) The Commissioner shall not approve any basic State plan pursuant to this Act for any fiscal year unless— " (A) the plan fulfills the conditions specified in section 3(11) and subsection (b) of this section and the appropriate titles of this Act; " (B) he has made specific findings as to the compliance of such plan with requirements of this Act and he is satisfied that adequate procedures are subscribed to therein insure that any assurances and provisions of such plan will be carried out. "(2) The State plan shall be made public as finally approved. "(3) x h e Commissioner shall not finally disapprove any basic State plau submitted pursuant to subsection (a)(1), or any modification thereof, without first affording the State reasonable notice and opportunity for hearing. " (d) The long-range program of any State for carrying out the purposes of this Act shall be developed in consultation with the Commissioner and shall^— "(1) set forth a program under which the funds received by the State under the programs authorized by this Act will be used to carry out a long-range program of library services and construction covering a period of not less than three nor more than five years; "(2) be annually reviewed and revised in accordance with changing needs for assistance under this Act and the results of the evaluation and surveys of the State library administrative agency; "(3) set forth policies and procedures (A) for the periodic evaluation of the effectiveness of programs and projects supported under this Act, and (B) for appropriate dissemination of the results of such evaluations and other information pertaining to such programs or projects; and

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"(4) set forth effective policies and procedures for the coordination of programs and projects supported under this Act with library programs and projects operated by institutions of higher education or local elementary or secondary schools and with other public or private library services programs. Such program shall be developed with advice of the State advisory council and in consultation with the Commissioner and shall be made public as it is finally adopted. "(e) Whenever the Commissioner, after reasonable notice and opportunity!^""^ opportunity for hearing to the State agency administering a program submitted under this Act, finds— "(1) that the program has been so changed that it no longer complies with the provisions of this Act, or "(2) that in the administration of the program there is a failure to comply substantially with any such provisions or with any assurance or other provision contained in the basic State plan, then, until he is satisfied that there is no longer any such failure to comply, after appropriate notice to such State agency, he shall make no further payments to the State under this Act or shall limit payments to programs or projects under, or parts of, the programs not affected by the failure, or shall require that payments by such State agency under this Act shall be limited to local or other public library agencies not affected by the failure. Petition " (f)(1) If any State is dissatisfied with the Commissioner's final review. for action with respect to the approval of a plan submitted under this Act or with his final action under subsection (e) such State may, within sixty days after notice of such action, file with the United States court of appeals for the circuit in which such State is located a petition for review of that action. A copy of the petition shall be forthwith transmitted by the clerk of the court to the Commissioner. The Commissioner thereupon shall file in the court the record of the proceedings on which he based his action as provided in section 2112 of title 28, United otates Code. ^ g gtat_ 1323.' Q "(2) The findnigs of fact by the Commissioner, if supported by substantial evidence, shall be conclusive; but the court, for good cause shown, may remand the case to the Commissioner to take further evidence, and the Commissioner may thereupon take new or modified findings of fact and may modify his previous action, and shall certify to the court the record of further proceedings. "(3) The court shall have jurisdiction to affirm the action of the Jurisdiction. Commissioner or to set it aside, in whole or in part. The judgment of the court shall be subject to review by the Supreme Court of the United States upon certiorari or certification as provided in section 1254 of title 28, United States Code. ^2 Stat. 928. "PAYMENTS TO STATES

"SEC. 7. (a) From the allotments available therefor under section 5 from appropriations pursuant to paragraph (1), (2), or (3) of sections -1(a), the Commissioner shall pay to each State which has a basic"State plan approved under section 6(a)(1), an annual program and a long-range program as defined in sections 3 (12) and (13) an amount equal to the Federal share of the total sums expended by the State and its political subdivisions in carrying out such plan, except that no payments shall be made from appropriations pursuant to such paragraph (1) for the purposes of title I to any State (other than the Trust Territory of the Pacific Islands) for any fiscal year unless the Commissioner determines that—

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"Federal share."

PUBLIC LAW 91-600-DEC. 30, 1970

[84 STAT.

"(1) there will be available for expenditure under the programs from State and local sources during the fiscal year for which the allotment is made— " (A) sums sufficient to enable the State to receive for the purpose of carrying out the programs payments in an amount not less than the minimum allotment for that State for the purpose, and " (B) not less than the total amount actually expended, in the areas covered by the programs for such year, for the purposes of such programs from such sources in the second preceding fiscal year; and "(2) there will be available for expenditure for the purposes of the programs from State sources during the fiscal year for which the allotment is made not less than the total amount actually expended for such purposes from such sources in the second preceding fiscal year. "(b)(1) For the purpose of this section, the 'Federal share' for any State shall be, except as is provided otherwise in title III, 100 per centum less the State percentage, and the State percentage shall be that percentage which bears the same ratio to 50 per centum as the per capita income of such State bears to the per capita income of all the States (excluding Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Trust Territory of the Pacific Islands), except that (A) the Federal share shall in no case be more than 66 per centum, or less than 33 per centum, and (B) the Federal share for Puerto Rico, Guam, American Samoa, and the Virgin Islands shall be 66 per centum, and (C) the Federal share for the Trust Territory of the Pacific Islands shall be 100 per centum. "(2) The 'Federal share' for each State shall be promulgated by the Commissioner within sixty days after the beginning of the fiscal year ending June 30, 1971, and of every second fiscal year thereafter, on the basis of the average per capita incomes of each of the States and of all the States (excluding Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Trust Territory of the Pacific Islands), for the three most recent consecutive years for which satisfactory data are available to him from the Department of Commerce. Such promulgation shall be conclusive for each of the two fiscal years beginning after the promulgation. "TITLE I—LIBRARY SERVICES "GRANTS FOR STATES FOR LIBRARY SERVICES

"SEC. 101. The Commissioner shall carry out a program of making Ante, p. 1662. grauts from sums appropriated pursuant to section 4(a)(1) to States which have had approved basic State plans under section 6 and have submitted annual programs under section 103 for the extension of public library services to areas without such services and the improvement of such services in areas in which such services are inadequate, for making library services more accessible to persons who, by reason of distance, residence, or physical handicap, or other disadvantage, are unable to receive the benefits of public library services regularly made available to the public, for adapting public library services to meet particular needs of persons within the States, and for improving and strengthening library administrative agencies.

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Page:Folk-lore - A Quarterly Review. Volume 15, 1904.djvu/54

 ARTHUR AND GORLAGON.

TRANSLATED BY F. A. MILNE, WITH NOTES BY A. NUTT.

(Read at Meeting, 17th December, 1903.)

(1) At the City of the Legions King Arthur was keeping the renowned festival of Pentecost, to which he invited the great men and nobles of the whole of his kingdom, and when the solemn rites had been duly performed he bade them to a banquet, furnished with everything thereto pertaining. And as they were joyfully partaking of the feast of rich abundance, Arthur, in his excessive joy, threw his arms around the Queen, who was sitting beside him, and embracing her, kissed her very affectionately in the sight of all. But she was dumbfounded at his conduct, and, blushing deeply, looked up at him and asked why he had kissed her thus at such an unusual place and hour.

Arthur. Because amidst all my riches I have nothing so pleasing and amidst all my delights nothing so sweet, as thou art.

The Queen. Well, if, as you say, you love me so much, you evidently think that you know my heart and my affection.

Arthur. I doubt not that your heart is well disposed towards me, and I certainly think that your affection is absolutely known to me.


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PUBLIC LAW 91-600-DEC. 30, 1970 "USES OF FEDERAL FUNDS

"SEC. 102. (a) Funds appropriated pursuant to paragraph (1) of section 4(a) shall be available for grants to States from allotments under section 5(a) for the purpose of paying the Federal share of the cost of carrying out State plans submitted and approved under section 6 and section 103. Except as is provided in subsection (b), grants to States under this title may be used solely— "(1) for planning for, and taking other steps leading to the development of, programs and projects designed to extend and improve library services, as provided in clause (2); and "(2) for (A) extending public library services to geographical areas and groups of persons without such services and improving such services in such areas and for such groups as may have inadequate public library services; and (B) establishing, expanding, and operating programs and projects to provide (i) State institutional horary services, (ii) library services to the physically handicapped, and (iii) library services for the disadvantaged in urban and rural areas; and (C) strengthening metropolitan public libraries which serve as national or regional resource centers. shall establish by regulation, grants to States under this title may be used (1) to pay the cost of administering the State plans submitted consultants), statewide planning for and evaluation of library services, dissemination of information concerning library services, and the activities of such advisory groups and panels as may be necessary to assist the State library administrative agency in carrying out its functions under this title, and (2) for strengthening the capacity of State library administrative agencies for meeting the needs of the people of the States. "STATE ANNUAL PROGRAM FOR LIBRARY SERVICES
 * '{b) Subject to such limitations and criteria as the Commissioner
 * ind approved under this Act (including obtaining the services of

"SEC. 103. Any State desiring to receive a grant from its allotment for the purposes of this title for any fiscal year shall, in addition to having submitted, and having had approved, a basic State plan under section 6, submit for that fiscal year an annual program for library services. Such program shall be submitted at such time, in such form, and contain such information as the Commissioner may require by regulation, and shall— " (1) set forth a program for the year submitted under which funds paid to the State from appropriations pursuant to paragraph (1) of section 4(a) for that year will be used, consistent with its long-range program, solely tor the purposes set forth in section 102; "(2) set forth the criteria used in allocating such funds among such purposes, which criteria shall insure that the State will expend from Federal, State, and local sources an amount not less than the amount expended by the State from such sources for State institutional library services, and library services to the physically handicapped during the fiscal year ending June 30, 1971; "(3) include such information, policies, and procedures as will assure that the activities to be carried out during that year are consistent with the long-range program; and "(4) include an extension of the long-range program, taking into consideration the results of evaluations. 47-348 O - 72 - 22 (Pt. 2)

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[84 STAT.

" TITLE i l — P U B L I C L I B R A R Y CONSTRUCTION^ "GRANTS TO STATES FOR PUBLIC LIBRARY CONSTRUCTION

"SEC. 201. The Commissioner shall carry out a program of making grants to States which have had approved a basic State plan under section 6 and have submitted a long-range program and submit annually appropriately updated programs under section 203 for the construction of public libraries. "USES OF FEDERAL FUNDS

"SEC. 202. Funds appropriated pursuant to paragraph (2) of section 4(a) shall be available for grants to States from allotments under section 5(a) for the purpose of paying the Federal share of the cost of construction projects carried under State plans. Such grants shall be used solely for the construction of public libraries under approved State plans. "STATE ANNUAL PROGRAM FOR THE CONSTRUCTION OF PUBLIC LIBRARIES

"SEC. 203. Any State desiring to receive a grant from its allotment for the purpose of this title for any fiscal year shall, in addition to having submitted, and having had approved, a basic State plan under section 6, submit such projects as the State may approve and are consistent with its long-range program. "Such projects shall be submitted at such time and contain such information as the Commissioner may require by regulation and shall— " (1) for the year submitted under which funds are paid to the State from appropriations pursuant to paragraph (2) of section 4(a) for that year, be used, consistent with the State's long-range program, for the construction of public libraries in areas of the State which are without the library facilities necessary to provide adequate library services; "(2) follow the criteria, policies, and procedures for the approval of applications for the construction of public library facilities under the long-range program; " (3) follow policies and procedures which will insure that every local or other public agency whose application for funds under the plan with respect to a project for construction of public library facilities is denied will be given an opportunity for a hearing before the State library administrative agency; "(4) include an extension of the long-range program taking into consideration the results of evaluations. "TITLE III—INTERLIBRARY COOPERATION " G R A N T S TO STATES FOR INTERLIBRARY COOPERATION PROGRAMS

"SEC. 301. The Commissioner shall carry out a program of making grants to States which have an approved basic State plan under section 6 and have submitted a long-range program and an annual program under section 303 for interlibrary cooperation programs.

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PUBLIC LAW 9 1 - 6 0 0 - D E C. 30, 1970

16(39

"USES OF FEDERAL FUNDS

"SEC. 302. (a) Funds appropriated pursuant to paragraph (3) of section 4(a) shall be available for grants to States from allotments under paragraphs (1) and (3) of section 5(a) for the purpose of carrying out the Federal share of the cost of carrying out State plans submitted and approved under section 303. Such grants shall be used (1) for planning for, and taking other steps leading to the development of, cooperative library networks; and (2) for establishing, expanding, and operating local, regional, and interstate cooperative networks of libraries, which provide for the systematic and effective coordination of the resources of school, public, academic, and special libraries and information centers for improved supplementary services for the special clientele served by each type of library or center. "(b) For the purposes of this title, the Federal share shall be 100 per centum of the cost of carrying out the State plan. " S T A l ' B A N N U A L PROGRAM FOR INTERLIBR^VRY COOPERATION

"SEC. 303. Any State desiring to receive a grant from its allotment for the purposes of this title for any fiscal year shall, in addition to having submitted, and having had approved, a basic State plan under section 6, submit for that fiscal year an annual program for interlibrary cooperation. Such program shall be submitted at such time, in such form, and contain such information as the Commissioner may require by regulation and shall— "(1) set forth a program for the year submitted under which funds paid to the State from appropriations pursuant to paragraph (3) of section 4(a) will be used, consistent with its longrange program for the purposes set forth in section 302, "(2) include an extension of the long-range program taking into consideration the results of evaluations." (c)(1) The amendment made by subsection (b) shall be effective after June 30, 1971. (2) In the case of funds appropriated to carry out programs under the Library Services and Construction Act for the fiscal year ending June 30, 1971, each State is authorized, in accordance with regulations of the Commissioner of Education, to use a portion of its allotment for the development of such plans as may be required by such Act, as amended by subsection (b).

Effective date. ^"^^' P- ^^^O*

AMENDMENTS TO THE ADULT EDUCATION ACT

SEC. 3. (a) Effective on and after July 1, 1969, section 305(a) of the Effective date. Adult Education Act is amended— ^"'«' P- i^o. (1) by striking out in the first sentence "any fiscal year" and inserting in lieu thereof "the fiscal year ending June 30, 1972, and for any succeeding fiscal year"; and (2) by inserting at the end thereof the following new sentence: "From the sums available for purposes of section 304(b) for the fiscal year ending June 30, 1970, and the succeeding fiscal year, the Commissioner shall make allotments in accordance with section 305(a) of the Adult Education Act of 1966 as in effect on,,^t^'^^' ^^^^' June 30, 1969." si Stat. sis. (b) Section 312(b) of the Adult Education Act is amended by insert- Ante, p. 164. ing at the end thereof the following new sentence: "For the fiscal year ending June 30, 1970, and the succeeding fiscal year, nothing in this subsection shall be construed to prohibit the use of any amounts appropriated pursuant to this Act to pay such costs, subject to such limitations as the Commissioner may prescribe." Approved December 30, 1970.

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PUBLIC LAW 91-601-DEC. 30, 1970

[84 STAT.

Public Law 91-601 December 30, 1970 [S.2162]

Poison Prevention Packaging Act of 1970. Definitions.

74 Stat. 372; 83 Stat. 187. 73 Stat. 286.

52 Stat. 1040; 82 Stat. 351.

Special packaging standards.

AN ACT To provide for si^ecial packaging to protect children from serious personal injury or serious illness resulting from handling, using, or ingesting household substances, and for other purposes.

Be it enacted by the Senate and House of Representatives of the Ignited States of America in Congress assemh ed. SECTION 1. This Act may be cited as the "Poison Prevention Packaging Act of 1970". SEC. 2. For the purpose of this Act— (1) The term "Secretary" means the Secretary of Health, Education, and Welfare. (2) The term "household substance" means any substance which is customarily produced or distributed for sale for consumption or use, or customarily stored, by individuals in or about the household and which is— (A) a hazardous substance as that term is defined in section 2(f) of the Federal Hazardous Substances Act (15 U.S.C. 1261(f)); (B) an economic poison as that term is defined in section 2a of the Federal Insecticide, Fungicide, and Rodenticide Act (7 U.S.C. 1 3 5 (a)); (C) a food, drug, or cosmetic as those terms are defined in section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321); or (D) a substance intended for use as fuel when stored in a portable container and used in the heating, cooking, or refrigeration system of a house. (3) The term "package" means the immediate container or wrapping in which any household substance is contained for consumption, use, or storage by individuals in or about the household, and, for purposes of section 4(a)(2) of this Act, also means any outer container or wrapping used in the retail display of any such substance to consumers. Such term does not include— (A) any shipping container or wrapping used solely for the transportation of any household substance in bulk or in quantity to manufacturers, packers, or processors, or to wholesale or retail distributors thereof, or (B) any shipping container or outer wrapping used by retailers to ship or deliver any household substance to consumers unless it is the only such container or wrapping. (4) The term "special packaging" means packaging that is designed or constructed to be significantly difficult for children under five years of age to open or obtain a toxic or harmful amount of the substance contained therein within a reasonable time and not difficult for normal adults to use properly, but does not mean packaging which all such children cannot open or obtain a toxic or harmful amount within a reasonable time. (6) The term "labeling" means all labels and other written, printed, or graphic matter (A) upon any household substance or its package, or (B) accompanying such substance. SEC. 3. (a) The Secretary, after consultation with the technical advisory committee provided for in section 6 of this Act, may establish in accordance with the provisions of this Act, by regulation, standards for the special packaging of any household substance if he finds that— (1) the degree or nature of the hazard to children in the availability of such substance, by reason of its packaging, is such that special packaging is required to protect children from serious per-

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sonal injury or serious illness resulting from handling, using, or ingesting such substance; and (2) the special packaging to be required by such standard is technically feasible, practicable, and appropriate for such substance. (b) I n establishing a standard under this section, the Secretary shall consider— (1) the reasonableness of such standard; (2) available scientific, medical, and engineering data concerning special packaging and concerning childhood accidental ingestions, illness, and injury caused by household substances; (3) the manufacturing practices of industries affected by this Act; and (4) the nature and use of the household substance. Findings (c) I n carrying out this Act, the Secretary shall publish his findings, publication., his reasons therefor, and citation of the sections of statutes which authorize his action. (d) Xothing in this Act shall authorize the Secretary to prescribe Limitation. specific packaging designs, product content, package quantity, or, with the exception of authority granted in section 4(a)(2) of this Act, labeling. I n the case of a household substance for which special packaging is required pursuant to a regulation under this section, the Secretary may in such regulation prohibit the packaging of such substance in packages which he determines are unnecessarily attractive to children. SEC. 4. (a) For the purpose of making any household substance p aConventional c k a g e s, marki; which is subject to a standard established under section 3 readily avail- ing. able to elderly or handicapped persons unable to use such substance when packaged in compliance with such standard, the manufacturer or packer, as the case may be, may j^ackage any household substance, subject to such a standard, in packaging of a single size which does not comply with such standard if— (1) the manufacturer (or packer) also supplies such substance in packages which comply with such standard; and (2) the packages of such substance which do not meet such standard bear conspicuous labeling stating: "This package for households without young children"; except that the Secretary may by regulation prescribe a substitute statement to the same effect for packaging too small to accommodate such labeling. (b) In the case of a household substance which is subject to such a standard and which is dispensed pursuant to an order of a physician, dentist, or other licensed medical practitioner authorized to prescribe, such substance may be dispensed in noncomplying packages only when directed in such order or when requested by the purchaser. (c) In the case of a household substance subject to such a standard which is packaged under subsection (a) in a noncomplying package, if the Secretary determines that such substance is not also being supplied by a manufacturer (or packer) in popular size packages which comply with such standard, he may, after giving the manufacturer (or packer) an opportunity to comply with the purposes of this Act, by order require such substance to be packaged by such manufacturer (or packer) exclusively in special packaging complying with such standard if he finds, after opportunity for hearing, that such exclusive use of special packaging is necessary to accomplish the purposes of this Act. SEC. 5. (a) Proceedings to issue, amend, or repeal a regulation prescribing a standard under section 3 shall be conducted in accordance with the procedures prescribed by section 553 (other than paragraph (3)(B) of the last sentence of subsection (b) of such section) of title .5 of the United States Code unless the Secretary elects the procedures 80 Stat. 3 8 3.

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 1672 70 Stat. 919. 21 USC 371. 52 Stat. 1055; 72 Stat. 948.

Petition, filing. 80 Stat. 383.

72 Stat. 941; 80 Stat. 1323. Hearing; additional evidence.

Findings, modification.

Judicial review.

80 Stat. 393.

62 Stat. 928. Technical advisory committee.

PUBLIC LAW 91-601-DEC. 30, 1970

[84

STAT.

prescribed by subsection (e) of section 701 of the Federal Food, Drug, and Cosmetic Act, in which event such subsection and subsections (f) and (g) of such section 701 shall apply to such proceedings. If the Secretary makes such election, he shall publish that fact with the proposal required to be published under paragraph (1) of such subsection (e). (b)(1) In the case of any standard prescribed by a regulation issued in accordance with section 553 of title 5 of the United States Code, any person who will be adversely affected by such a standard may, at any time prior to the 60th day after the regulation prescribing such standard is issued by the Secretary, file a petition with the United States C^urt of Appeals for the circuit in which such person resides or has his principal place of business for a judicial review of such standard. A copy of the petition shall be forthwith transmitted by the clerk of the court to the Secretary or other officer designated by him for that purpose. The Secretary shall file in the court the record of the proceedings on which the Secretary based his standard, as provided in section 2112 of title 28 of the United States Code. (2) If the petitioner applies to the court for leave to adduce additional evidence, and shows to the satisfaction of the court that such additional evidence is material and that there; was no opportunity to adduce such evidence in the proceeding before the Secretary, the court may order such additional evidence (and evidence in rebuttal thereof) to be taken before the Secretary in a hearing or in such other manner, and upon such terms and conditions, as to the court may seem proper. The Secretary may modify his findings as to the facts, or make new findings, by reason of the additional evidence so taken, and he shall file such modified or new findings, and his recommendation, if any, for the modification or setting aside of his original standard, with the return of such additional evidence. (3) Upon the filing of the petition under paragraph (1) of this subsection the court shall have jurisdiction to review the standard of the Secretary in accordance with subparagraphs (A), (B), (C), and (D) of paragraph (2) of section 706 of title 5 of the United States Code. If the court ordered additional evidence to be taken under paragraph (2) of this subsection, the court shall also review the Secretary's standard to determine if, on the basis of the entire record before the court pursuant to paragraphs (1) and (2) of this subsection, it is supported by substantial evidence. If the court finds the standard is not so supported, the court may set it aside. (4) With respect to any standard reviewed under this subsection, the court may grant appropriate relief pending conclusion of the review proceedings, as provided in section 705 of such title 5. (5) The judgment of the court affirming or setting aside, in whole or in part, any such standard of the Secretary shall be final, subject to review by the Supreme Court of the United States upon certiorari or certification, as provided in section 1254 of title 28 of the United States Code. SEC. 6. (a) For the purpose of assisting in carrying out the purposes of this Act, the Secretary shall appoint a technical advisory committee, designating a member thereof to be chaii"man, composed of not more than eighteen members who are representative of (1) the Department of Health, Education, and Welfare, (2) the Department of Commerce, (3) manufacturers of household substances subject to this Act, (4) scientists with expertise related to this Act and licensed practitioners in the medical field, (5) consumers, and (6) manufacturers of packages and closures for household substances. The Secretary shall consult with the technical advisory committee in making findings and in establishing standards pursuant to this Act.

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(b) Members of the technical advisory committee who are not ^^°^^^^i^^^°'^ regular full-time employees of the United States shall, while attending expenses. meetings of such committee, be entitled to receive compensation at a rate fixed by the Secretary, but not exceeding $100 per diem, including traveltime, and while so serving away from their homes or regular places of business, they may be allowed travel expenses, including per diem in lieu of subsistence, as authorized by section 5703 of title 5 of the United States Code for persons in the Government service employed ^,^° ^^^V^t^^' .

,

••

intermittently. SEC. 7. (a) Section 2(p) of the Federal Hazardous Substances Act (15 U.S.C. 1261 (p)) is amended— (1) by striking out "which substance" in the part preceding paragraph (1) and inserting in lieu thereof "if the packaging or labeling of such substance is in violation of an applicable regulation issued pursuant to section 3 or 4 of the Poison Prevention Packaging Act of 1970 or if such substance"; and (2) by adding the following after and below paragraph (2): "The term 'misbranded hazardous substance' also includes a household substance as defined in section 2(2)(D) of the Poison Prevention Packaging Act of 1970 if it is a substance described in paragraph 1 of section 2(f) of this Act and its packaging or labeling is in violation of an applicable regulation issued pursuant to section 3 or 4 of the Poison Prevention Packaging Act of 1970.". (b) Section 2z (2) of the Federal Insecticide, Fungicide, and Rodenticide Act (7 U.S.C. 135 (z)(2)) is amended by striking out the period at the end of paragraph (h) of such section and inserting in lieu thereof "; or" and by adding at the end thereof a new paragraph as follows: " (i) if its packaging or labeling is in violation of an applicable regulation issued pursuant to section 3 or 4 of the Poison Prevention Packaging Act of 1970." (c) Section 403 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 343) is amended by adding at the end thereof a new paragraph as follows: " (n) If its packaging or labeling is in violation of an applicable regulation issued pursuant to section 3 or 4 of the Poison Prevention Packaging Act of 1970." (d) Section 502 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 352) is amended by adding at the end thereof a new paragraph as follows: " (p) If it is a drug and its packaging or labeling is in violation of an applicable regulation issued pursuant to section 3 or 4 of the Poison Prevention Packaging Act of 1970." (e) Section 503(b)(2) of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 353(b)(2)) is amended by striking out "and (h) " and inserting in lieu thereof ", (h), and (p) ". (f) Section 602 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 362) is amended by adding at the end thereof a new paragraph as follows: " (f) If its packaging or labeling is in violation of an applicable regulation issued pursuant to section 3 or 4 of the Poison Prevention Packaging Act of 1970." SEC. 8. Whenever a standard established by the Secretary under this Act applicable to a household substance is in effect, no State or political subdivision thereof shall have any authority either to establish or continue in effect, with respect to such household substance, any standard for special packaging (and any exemption therefrom and requirement related thereto) which is not identical to the standard established under section 3 (and any exemption therefrom and requirement related thereto) of this Act.

oo b t a t. 1 9 0.

74 Stat. 374; 80 Stat. 1303.

Ante,

p. 1670.

ha'zlfrd^ous^s'^u^stance."

^^ Stat. 287.

y/stat^^sg^"^^'

^^ ^*^*- '^^^^

^^ Stat. 649. '"^ ^'^'- ^^^•

Federally standards^ precedence.

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 1674 Effective date. Publication in Federal Register.

PUBLIC LAW 91-602-DEC. 31, 1970

[84

STAT.

SEC. 9. This Act shall take effect on the date of its enactment. Each regulation establishing a special packaging standard shall specify the date such standard is to take effect which date shall not be sooner than one hundred and eighty days or later than one year from the date such regulation is final, unless the Secretary, for good cause found, determines that an earlier effective date is in the public interest and publishes in the Federal Register his reason for such finding, in which case such earlier date shall apply. No such standard shall be effective as to household substances subject to this Act packaged prior to the effective date of such final regulation. Approved December 30, 1970.

Public Law 91-602 December 31, 1970 [H. J. R e s. 1 4 1 7 ]

President's Economic Report. 60 Stat. 24; 70 Stat. 289.

62 Stat. 16.

JOINT RESOLUTION Extending the dates for transmission to the Congress of the President's Eeouomic Rejwrt and of the report of the Joint Economic Committee.

Renolved by the S'enate and House of Representatives of the United States of America in Congress assembled, That (a) notwithstanding the provisions of section 3 of the Act of February 20, 1946, as amended (15 LT.S.C. 1022), the President shall transmit to the Congress not later than February 1, 1971, the Economic Report; and (b) notwithstanding the provisions of clause (3) of section 5(b) of the Act of February 20, 1946 (15 U.S.C. 1024(b)), the Joint Economic Committee shall file its report on the President's Economic Report with the House of Representatives and the Senate not later than March 10, 1971. Approved December 31, 1970.

Public Law 91-603 December 31, 1970 [H. R. 15549]

AN ACT To amend title 10, United States Code, to further the effectiveness of shipment of goods and supplies in foreign commerce by promoting the welfare of United States merchant seamen through cooperation with the United Seamen's Service, and for other purposes.

Be it enacted by the Senate and House of Representatives of the Seamen's Service United States of America in Congress assembled, That this Act may Act. be cited as the ''Seamen's Service Act*'. SEC. 2. I t is the purpose of this Act, by authorizing appropriate departments and agencies of the Liiiited States Government to cooperate with the United Seamen's Service (a nonprofit, charitable organization incorporated under the laws of the State of New York) in the establishment and operation of facilities for United States merchant seamen in foreign areas, to promote the welfare of such seamen, essential to the overall interests of shipment of United States goods and supplies to such areas. 70A Stat. 144; SEC. 3. Chapter 155 of title 10, United States Code, is amended— 76 Stat. 244. (1) by adding the following new section at the end thereof: 10 USC 26012603, United States commitments abroad to provide facilities and services for United States merchant seamen in foreign areas, he may authorize the Secretary of Defense, under such regulations as the Secretary may
 * §2604. United Seamen's Service: cooperation and assistance
 * '(a) Whenever the President finds it necessary in the interest of

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prescribe, to cooperate with and assist the United Seamen's Service in establishing and providing those facilities and services. " (b) Personnel of the United Seamen's Service who are performing duties in connection with the cooperation and assistance under subsection (a) may be furnished— "(1) transportation, at the expense of the United States, while traveling to and from, and while performing, those duties, in the same manner as civilian employees of the armed, forces; the United Seamen's Service, except that where civilian employees of the armed forces are quartered without charge, employees of the United Seamen's Service may also be quartered without charge; and "(3) available office space (including space for recreational activities for seamen), warehousing, wharfage, and means of communication, without charge. '' (c) No fee may be charged for a passport issued to an employee of ^^1^^^^°"^* ^^^' the United Seamen's Service for travel outside the United States to assume or perform duties under this section. " (d) Supplies of the United Seamen's Service, including gifts for the use of merchant seamen, may be transported at the expense of the United States, if it is determined under regulations prescribed under subsection (a) that they are necessary to the cooperation and assistance provided under this section. Currencies, "(e) Where practicable, the President shall also make arrangements convertibility. to provide for convertibility of local currencies for the United Seamen's Service, in connection with its activities under subsection (a). "(f) For the purposes of this section, employees of the United Seamen's Service may not be considered as employees of the United States."; and (2) by adding the following new item at the end of the analysis: "2604. United Seamen's Service: cooperation and assistance."
 * '(2) meals and quarters, at their expense or at the expense of

SEC. 4. The Merchant Marine Act, 1936 (46 U.S.C. 1101 et seq.), as amended, is amended as follows: (a) By striking out of section 501(a)(2) thereof (46 U.S.C. 1151 (a)(2)) the words "to enable it to operate and maintain" and inserting in lieu thereof "for the operation and maintenance of". (b) By striking out of section 502(a) thereof (46 U.S.C. 1152(a)) the words "to enable it to operate and maintain" and inserting in lieu thereof "for the operation and maintenance of". (c) By inserting in section 601(a)(2) thereof (46 U.S.C. 1171 (a)(2)) following the word "owns" the words "or leases". (d) By inserting in section 601(a)(2) thereof (46 U.S.C. 1171 (a)(2)) following the word "purchase" the words "or lease". (e) By striking the last sentence of section 805(d) thereof (46 U.S.C. 1223(d)).

Approved December 31, 1970.

^9 Stat. igss. ^^ ^*^*- ^^°^"'^' "' '^^^^

^^ Stat. 2001.

49 Stat. 2012.

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