§ 290i–10 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE Page 192

Bank and its operations as necessary in the public interest or for the protection of investors.

(b) Suspension of provisions; reports to Congress

The Securities and Exchange Commission, acting in consultation with such agency or officer

as the President shall designate, 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 Bank during the period of such suspension. The Commission shall

include in its annual reports to Congress such

information as it shall deem advisable with regard to the operations and effect of this section

and in connection therewith shall include any

views submitted for such purpose by any association of dealers registered with the Commission.

(Pub. L. 97–35, title XIII, §1341, Aug. 13, 1981, 95

Stat. 743.)

REFERENCES IN TEXT

The agreement, referred to in subsec. (a), is the

agreement establishing the African Development Bank.

See section 290i of this title.

DELEGATION OF FUNCTIONS

Functions of President under subsec. (b) delegated to

Secretary of the Treasury, see Ex. Ord. No. 12403, Feb.

8, 1983, 48 F.R. 6087.

§ 290i–10. Authorization of United States subscription to stock; authorization of appropriations

(a) The United States Governor of the Bank is

authorized to agree to subscribe on behalf of the

United States to fifty-nine thousand, six hundred and thirty-two shares of the capital stock

of the Bank, except that the subscription shall

be effective only to such extent or in such

amounts as are provided in advance in appropriations Acts.

(b) In order to pay for the United States subscription authorized in subsection (a) of this section, there are authorized to be appropriated,

without fiscal year limitation, $719,370,633, for

payment by the Secretary of the Treasury.

(Pub. L. 97–35, title XIII, §1343, as added Pub. L.

100–202, §101(e) [title I], Dec. 22, 1987, 101 Stat.

1329–131, 1329–134.)

CODIFICATION

Section 1343 of Pub. L. 97–35 is based on section 301 of

title III of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L.

100–202.

SUBCHAPTER XXV—UNITED STATES-INDIA

FUND FOR CULTURAL, EDUCATIONAL,

AND SCIENTIFIC COOPERATION

§ 290j. Establishment of the Fund

(a) Agreement with Government of India; program purposes

The President is authorized to enter into an

agreement with the Government of India for the

establishment of a fund (hereafter in this subchapter referred to as the ‘‘Fund’’) which would

provide grants and other assistance for cultural,

educational, and scientific programs of mutual

interest. Such programs may include exchanges

of persons, exchanges of information, and other

programs of study, research, and scholarly cooperation. The agreement may also provide for

the establishment of an endowment, a foundation, or other means to carry out the purposes of

the agreement.

(b) United States representatives

The United States representatives on any

board or other entity created in accordance with

the agreement to administer the Fund shall be

designated by the President predominately from

among representatives of United States Government agencies, including those administering

programs which may be supported in whole or in

part by the Fund.

(c) Funding of programs

United States Government agencies carrying

out programs of the types specified in subsection (a) of this section may receive amounts

directly from the Fund for use in carrying out

those programs.

(Pub. L. 98–164, title IX, §902, Nov. 22, 1983, 97

Stat. 1051.)

SHORT TITLE

Section 901 of title IX of Pub. L. 98–164 provided that:

‘‘This title [enacting this subchapter] may be cited as

the ‘United States-India Fund for Cultural, Educational, and Scientific Cooperation Act’.’’

EX. ORD. NO. 12517. DELEGATION CONCERNING UNITED

STATES-INDIA FUND FOR CULTURAL, EDUCATIONAL, AND

SCIENTIFIC COOPERATION

Ex. Ord. No. 12517, May 29, 1985, 50 F.R. 23105, provided:

By the authority vested in me as President by the

Constitution and statutes of the United States of

America, including section 301 of Title 3 of the United

States Code, and in order to delegate certain functions

concerning the United States-India Fund for Cultural,

Educational, and Scientific Cooperation to the Secretary of State, it is hereby ordered as follows:

SECTION 1. All functions vested in the President by

the United States-India Fund for Cultural, Educational, and Scientific Cooperation Act (Title IX of

Public Law 98–164, 97 Stat. 1051; ‘‘the Act’’) [22 U.S.C.

290j et seq.] are delegated to the Secretary of State.

SEC. 2. India rupees provided to the President for purposes of Title IX of the Act and under Title III of the

Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriation Act, 1985

(Public Law 98–411, 98 Stat. 1545) are allocated to the

Secretary of the Treasury for investment to generate

earnings for purposes of Title IX of the Act.

RONALD REAGAN.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 290j–1 of this

title.

§ 290j–1. Use of United States owned rupees to

capitalize the Fund

(a) Subject to applicable requirements concerning reimbursement to the Treasury for

United States owned foreign currencies, the

President may make available to the Fund, for

use in carrying out the agreement authorized by

section 290j of this title, up to the equivalent of

$200,000,000 in foreign currencies owned by the

United States in India or owed to the United

States by the Government of India. Such use

may include investment in order to generate in-