63 STAT.] 81ST CONG., IST SESS.-CHS. 276, 277-JUNE 29, 1949 299 Securities and Exchange Commission such annual and other reports Reports. with regard to such securities as the Commission shall determine to be appropriate in view of the special character of the bank and its operations and necessary in the public interest or for the protection of investors. "(b) The reports of the National Advisory Council provided for in section 4 (a) (6) of the Bretton Woods Agreements Act shall also 9 Sat.c' 286b cover and include the effectiveness of the provisions of section 15 (a) (a) (6). of this Act and the exemption for securities issued by the bank pro- vided by section 8 of the National Bank Act in facilitating the opera- 12 U.S. . 1§24. tions of the bank and the extent to which the operations of the bank Pot,p.439. may assist in financing European recovery and the reconstruction and development of the economic resources of member countries of the bank and the recommendations of the Council as to any modifica- tions it may deem desirable in the provisions of this Act." SEC. 3. The Securities and Exchange Commission acting in consul- ision of pro- tation with the National Advisory Council on International Monetary and Financial Problems is authorized to suspend the provisions of section 15 (a) of the Bretton Woods Agreements Act at any time as Ant, p.298 to any or all securities issued or guaranteed by the bank during the period of such suspension. The Commission shall include in its annual gRetports to Con reports to Congress such information as it shall deem advisable with regard to the operations and effect of this Act and in connection there- with shall include any views submitted for such purpose by any asso- ciation of dealers registered with the Commission. Approved June 29, 1949. [CHAPTER 277] AN A(,T June 29, 1949 To regulate the hours of duty and the pay of civilian keepers of lighthouses and [H. R. 4471] civilians employed on lightships and other vessels of the Coast Guard. [Public Law 143] Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That, notwithstand- ing any other provision of law, the civil service classification laws and titles II and III of the Federal Employees Pay Act of 1945 shall not apply to civilian keepers of lighthouses and to civilians employed on lightships and other vessels of the Coast Guard. SEC. 2. Under regulations prescribed by the Secretary of the Treas- ury, the Coast Guard may prescribe the hours of duty and the pay of civilian keepers of lighthouses and civilians employed on lightships and other vessels of the Coast Guard, but such personnel may be called upon for duty in emergency circumstances or otherwise at any time or all times. The existing system governing the pay of such employ- ees may be continued or changed except that overtime compensation, night differential, and extra pay for duty on holidays shall not be paid to such employees. In lieu thereof additional annual compen- sation may be authorized, which may be prescribed either as a fixed differential or as a percentage of the basic compensation otherwise applicable to such employees. In no case shall basic compensation exceed $3,750 per annum, except that nothing contained in this Act shall operate to decrease the basic compensation of any person employed by the Coast Guard on the date of enactment of this Act, and in no case shall additions thereto exceed 25 per centum of such basic compensation. Provision may be made for compensatory absence from duty when conditions of employment result in confine- ment because of isolation or in long periods of continuous duty; and provisions may likewise be made for extra allowance for service out- side of the continental limits of the United States. Coast Guard. Regulation of hours and pay of certain personnel. 59 Stat. 296, 298. 5 U.S . C. 1§911-913, 921, 922. Overtime compen- sation, etc. Additional annual compensation. Limitation.
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