Page:United States Statutes at Large Volume 95.djvu/1048

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PUBLIC LAW 97-000—MMMM. DD, 1981

95 STAT. 1022

Effective date. 22 USC 2193 note.

PUBLIC LAW 97-65—OCT. 16, 1981

(3) by striking out "Six", "six", and "two" in the fourth, fifth, and seventh sentences of such section, as amended by paragraph (2), and inserting in lieu thereof "Eight", "eight", and "three", respectively; (4) by striking out in the fifth sentence of such section, as amended by paragraph (2), "one" the first place it appears and inserting in lieu thereof "two"; and (5) by striking out in the fourth sentence of such section, as amended by paragraph (2), "also serve as a Director" and inserting in lieu thereof "serve as a Director, ex officio". (b) The second paragraph of such section is amended by inserting "including an official of the Department of Labor," after "United States,". (c) The amendments made by this section shall take effect on October 1, 1981. INVESTMENT INSURANCE AND OTHER PROGRAMS

Report to congressional committees.

SEC. 4. (a) Section 234 of the Foreign Assistance Act of 1961 (22 U.S.C. 2194) is amended— (1) in subsection (a)(1)(C), by striking out "or insurrection" and inserting in lieu thereof ", insurrection, or civil strife"; (2) in subsection (a)(2), by striking out "total" and "financing" at the end thereof; (3) in subsection (a)(3), by striking out "authorized to issue under this subsection" and inserting in lieu thereof "permitted to have outstanding under section 235(a)(1)"; and (4) by adding at the end of subsection (a) the following new paragraph: "(4) Before issuing civil strife insurance for the first time, and in each subsequent instance in which a significant expansion is proposed in the type of risk to be insured under the definition of civil strife, the Corporation shall, at least sixty days before such insurance is issued, submit to the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives a report with respect to such insurance, including a thorough analysis of the risks to be covered, anticipated losses, and proposed rates and reserves.". (b) Section 234 of such Act is further amended— (1) in subsection (b), by striking out in the last proviso "authorized to issue under this subsection" and inserting in lieu thereof "permitted to have outstanding under section 235(a)(2)"; (2) in subsection (fl(l), by striking out "(A)" and by striking out ", and (B)" and all that follows through the end of the paragraph and inserting in lieu thereof a period; and (3) in the last paragraph of subsection (f)— (A) by striking out in the second sentence "exceed $600,000,000 in any one year, and the amount of such reinsurance shall not"; and (B) by striking out in the last sentence ", and the Corporation" and all that follows through the end of the sentence and inserting in lieu thereof a period. ISSUING AUTHORITY, DIRECT INVESTMENT FUND AND RESERVES

SEC. 5. (a)(1) Section 235(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(a)) is amended in paragraph (2) by striking out ": Provided" and all that follows through the end of the paragraph and inserting in lieu thereof a period and the following: "Commit-