Page 97 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 283a

other reports with regard to such securities as

the Commission shall determine to be appropriate in view of the special character of the

Corporation and its operations and necessary in

the public interest or for the protection of investors.

(b) Authority of Securities and Exchange Commission to suspend exemption; reports to

Congress

The Securities and Exchange Commission, acting in consultation with the National Advisory

Council on International Monetary and Financial Problems, is authorized to suspend the provisions of subsection (a) of this section at any

time as to any or all securities issued or guaranteed by the Corporation during the period of

such suspension. The Commission shall include

in its annual reports to the Congress such information as it shall deem advisable with regard to

the operations and effect of this section.

(Aug. 11, 1955, ch. 788, §13, as added Pub. L.

101–513, title V, §562(e)(1)(A), Nov. 5, 1990, 104

Stat. 2037.)

§ 282l. Capital stock increase

(a) Subscription authorized

(1) In general

The United States Governor of the Corporation may—

(A) vote for an increase of 1,000,000 shares

in the authorized capital stock of the Corporation; and

(B) subscribe on behalf of the United

States to 250,000 additional shares of the capital stock of the Corporation.

(2) Prior appropriation required

The subscription authority provided in paragraph (1) shall be effective only to such extent

or in such amounts as are provided in advance

in appropriations Acts.

(b) Limitations on authorization of appropriations

In order to pay for the subscription authorized

in subsection (a) of this section, there are authorized to be appropriated, without fiscal year

limitation, $50,000,000 for payment by the Secretary of the Treasury.

(Aug. 11, 1955, ch. 788, §14, as added Pub. L.

102–145, §125(a), Oct. 28, 1991, as added Pub. L.

102–266, §102, Apr. 1, 1992, 106 Stat. 97.)

§ 282m. Authority to vote for capital increases

necessary to support economic restructuring

in independent states of former Soviet Union

The United States Governor of the Corporation may vote in favor of any increase in the

capital stock of the Corporation that may be

needed to accommodate the requirements of the

independent states of the former Soviet Union

(as defined in section 5801 of this title).

(Aug. 11, 1955, ch. 788, §15, as added Pub. L.

102–511, title X, §1005, Oct. 24, 1992, 106 Stat.

3361.)

§ 282n. Authority to agree to amendments to Articles of Agreement

The United States Governor of the Corporation is authorized to agree to amendments to

the Articles of Agreement of the Corporation

that would—

(1) amend Article II, Section 2(c)(ii), to increase the vote by which the Board of Governors of the Corporation may increase the

capital stock of the Corporation from a threefourths majority to a four-fifths majority; and

(2) amend Article VII(a) to increase the vote

by which the Board of Governors of the Corporation may amend the Articles of Agreement of the Corporation from a four-fifths majority to an eighty-five percent majority.

(Aug. 11, 1955, ch. 788, §16, as added Pub. L.

102–511, title X, §1006, Oct. 24, 1992, 106 Stat.

3361.)

SUBCHAPTER XII—INTER-AMERICAN

DEVELOPMENT BANK

§ 283. Acceptance of membership by United

States in Inter-American Development Bank

The President is hereby authorized to accept

membership for the United States in the InterAmerican Development Bank (hereinafter referred to as the ‘‘Bank’’), provided for by the

agreement establishing the bank (hereinafter referred to as the ‘‘agreement’’) deposited in the

archives of the Organization of American

States.

(Pub. L. 86–147, §2, Aug. 7, 1959, 73 Stat. 299.)

SHORT TITLE

Section 1 of Pub. L. 86–147 provided that: ‘‘This Act

[enacting this subchapter and amending section 24 of

Title 12, Banks and Banking] may be cited as the

‘Inter-American Development Bank Act’.’’

PROPOSALS FOR JOINT ACT BY PARTICIPANTS IN INTERAMERICAN DEVELOPMENT BANK FOR INCREASED EXPLORATION AND EXPLOITATION OF ENERGY AND MINERAL RESOURCES OF WESTERN HEMISPHERE

Pub. L. 96–259, title I, §102, June 3, 1980, 94 Stat. 430,

which required Presidential evaluation and report on a

proposal for joint action by countries of Western Hemisphere and other countries which participate in InterAmerican Development Bank to increase exploration

for and exploitation of energy and mineral resources of

Western Hemisphere through multilateral incentives,

administered by Inter-American Development Bank,

was repealed by Pub. L. 101–240, title V, §541(d)(6), Dec.

19, 1989, 103 Stat. 2518.

PAR VALUE MODIFICATION

For Congressional direction that the Secretary of the

Treasury maintain the value in terms of gold of the

Inter-American Development Bank’s holdings of United

States dollars following the establishment of a par

value of the dollar at $38 for a fine troy ounce of gold

pursuant to the Par Value Modification Act and for the

authorization of the appropriations necessary to provide such maintenance of value, see section 5152 of

Title 31, Money and Finance.

CROSS REFERENCES

Advancement of human rights through United States

assistance policies with international financial institutions, see section 262d of this title.

§ 283a. Appointment of officers; term of office;

salary

(a) Governor and alternate governor

The President, by and with the advice and consent of the Senate, shall appoint a governor of