§ 290k–4 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE Page 194

not taking steps to afford internationallyrecognized workers’ rights to workers in

that country;

(B) be subject to trade-distorting performance requirements imposed by the host

country that are likely to result in a significant net reduction in—

(i) employment in the United States; or

(ii) other trade benefits likely to accrue

to the United States from the investment;

or

(C) likely increase a country’s productive

capacity in an industry already facing excess worldwide capacity for the same, similar or competing product, and cause substantial injury to producers of such products in

the United States; and

(2) within 12 months after the United States

becomes a member of the Agency and each

year thereafter for the 3 succeeding years,

conduct an independent evaluation of the

United States investments which have been

guaranteed by the Agency to determine—

(A) the anticipated net impact of such investments on employment in and exports

from the United States, and

(B) the extent to which such investments

were made in countries which had not taken

or are not taking steps to afford internationally-recognized workers’ rights to workers

in those countries.

In the course of conducting each evaluation

required under paragraph (2), the Secretary

shall actively solicit and take into account

the views of United States labor organizations.

The Secretary shall furnish a copy of each

such evaluation on its completion to the Congress.

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

Stat. 1329–131, 1329–134.)

REFERENCES IN TEXT

The Trade Act of 1974, referred to in par. (1)(A), is

Pub. L. 93–618, Jan. 3, 1975, 88 Stat. 1978, as amended.

Title V of the Trade Act of 1974 is classified generally

to subchapter V (§2461 et seq.) of chapter 12 of Title 19,

Customs Duties. For complete classification of this Act

to the Code, see section 2101 of Title 19 and Tables.

CODIFICATION

Section is based on section 406 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

§ 290k–4. Consultation with representatives of

private sector and of labor organizations on

Agency policy directions and operations

Recognizing that United States participation

in the Agency represents an effort to enhance

United States trade prospects and strengthen

the role of the United States private sector in

the development process, the Secretary of the

Treasury shall ensure regular and continuing

consultations with United States private sector

representatives and representatives of United

States labor organizations, through appropriate

mechanisms, on policy directions and operations

of the Agency, and shall take account of those

consultations in determining the policies of the

United States toward the Agency.

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

Stat. 1329–131, 1329–134.)

CODIFICATION

Section is based on section 407 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

§ 290k–5. Applicability of Bretton Woods Agreements Act

The provisions of section 286b of this title

shall apply with respect to the Agency to the

same extent as with respect to the Bank and the

International Monetary Fund.

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

Stat. 1329–131, 1329–134; Pub. L. 101–240, title V,

§541(e)(5), Dec. 19, 1989, 103 Stat. 2518.)

REFERENCES IN TEXT

The Bretton Woods Agreements Act, referred to in

section catchline, is act July 31, 1945, ch. 339, 59 Stat.

512, as amended, which is classified principally to subchapter XV (§286 et seq.) of this chapter. For complete

classification of this Act to the Code, see Short Title

note set out under section 286 of this title and Tables.

CODIFICATION

Section is based on section 408 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

AMENDMENTS

1989—Pub. L. 101–240 struck out at end ‘‘Reports with

respect to the Agency under paragraphs (5) and (6) of

section 286b(b) of this title shall be included in the reports made thereunder after the United States accepts

membership in the Agency.’’

§ 290k–6. Restrictions

Unless authorized by law, neither the President nor any person or agency shall, on behalf of

the United States—

(1) subscribe to additional shares of stock of

the Agency;

(2) vote for or agree to any amendment of

the Convention which increases the obligations of the United States, or which changes

the purpose or functions of the Agency; or

(3) make a loan or provide other financing to

the Agency.

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

Stat. 1329–131, 1329–134.)

CODIFICATION

Section is based on section 409 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

§ 290k–7. Federal Reserve banks as depositories

Any Federal Reserve bank that is requested to

do so by the Agency shall act as its depository

or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these

functions by the Federal Reserve banks.

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

Stat. 1329–131, 1329–134.)

CODIFICATION

Section is based on section 410 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.