Page 115 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 285q

the Bank, and (B) are no greater than the largest cumulative contribution of any other single

country contributing to the special funds of the

Bank.

(b) The United States Governor of the Bank

shall give due regard to the principles of (A) utilizing all special funds resources on an equitable

basis, and (B) significantly shared participation

by other contributors in each special fund to

which United States Special Resources are provided.

(Pub. L. 89–369, §14, as added Pub. L. 92–245, §1,

Mar. 10, 1972, 86 Stat. 58.)

§ 285l. Letter of credit form for United States

Special Resources

The United States Special Resources will be

provided to the Bank in the form of a nonnegotiable, noninterest-bearing, letter of credit

which shall be payable to the Bank at par value

on demand to meet the cost of eligible goods and

services, and administrative costs authorized

pursuant to section 285j(c) of this title.

(Pub. L. 89–369, §15, as added Pub. L. 92–245, §1,

Mar. 10, 1972, 86 Stat. 58.)

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 285k of this title.

§ 285m. Withdrawal rights covering United States

Special Resources

The United States shall have the right to

withdraw all or part of the United States Special Resources and any accrued resources derived therefrom under the procedures provided

for in section 8.03 of the Special Funds Rules and

Regulations of the Bank.

(Pub. L. 89–369, §16, as added Pub. L. 92–245, §1,

Mar. 10, 1972, 86 Stat. 58.)

§ 285n. Authorization of appropriations to provide United States Special Resources

For the purpose of providing United States

Special Resources to the Bank there is hereby

authorized to be appropriated $100,000,000, all of

which shall remain available until expended.

(Pub. L. 89–369, §17, as added Pub. L. 92–245, §1,

Mar. 10, 1972, 86 Stat. 58; amended Pub. L. 93–189,

§28, Dec. 17, 1973, 87 Stat. 732.)

AMENDMENTS

1973—Pub. L. 93–189 substituted ‘‘$100,000,000’’ for

‘‘$60,000,000 for the fiscal year 1972 and $40,000,000 for the

fiscal year 1973’’.

§ 285o. Expropriation of United States property;

loan restrictions

The President shall instruct the United States

Executive Director of the Asian Development

Bank to vote against any loan or other utilization of the funds of the Bank for the benefit of

any country which has—

(1) nationalized or expropriated or seized

ownership or control of property owned by any

United States citizen or by any corporation,

partnership, or association not less than 50 per

centum of which is beneficially owned by

United States citizens;

(2) taken steps to repudiate or nullify existing contracts or agreements with any United

States citizen or any corporation, partnership,

or association not less than 50 per centum of

which is beneficially owned by United States

citizens; or

(3) imposed or enforced discriminatory taxes

or other exaction, or restrictive maintenance

or operational conditions, or has taken other

actions, which have the effect of nationalizing,

expropriating, or otherwise seizing ownership

or control of property so owned;

unless the President determines that (A) an arrangement for prompt, adequate, and effective

compensation has been made, (B) the parties

have submitted the dispute to arbitration under

the rules of the Convention for the Settlement

of Investment Disputes, or (C) good faith negotiations are in progress aimed at providing

prompt, adequate, and effective compensation

under the applicable principles of international

law.

(Pub. L. 89–369, §18, as added Pub. L. 92–245, §1,

Mar. 10, 1972, 86 Stat. 58.)

§ 285p. Illegal drug traffic; loan restrictions

The Secretary of the Treasury shall instruct

the United States Executive Director of the

Asian Development Bank to vote against any

loan or other utilization of the funds of the

Bank for the benefit of any country with respect

to which the President has made a determination, and so notified the Secretary of the Treasury, that the government of such country has

failed to take adequate steps to prevent narcotic

drugs and other controlled substances (as defined by the Comprehensive Drug Abuse Prevention and Control Act of 1970 [21 U.S.C. 801 et

seq.]) produced or processed, in whole or in part,

in such country, or transported through such

country, from being sold illegally within the jurisdiction of such country to United States Government personnel or their dependents, or from

entering the United States unlawfully. Such instruction shall continue in effect until the

President determines, and so notifies the Secretary of the Treasury, that the government of

such country has taken adequate steps to prevent such sale or entry of narcotic drugs and

other controlled substances.

(Pub. L. 89–369, §19, as added Pub. L. 92–245, §2,

Mar. 10, 1972, 86 Stat. 58.)

REFERENCES IN TEXT

The Comprehensive Drug Abuse Prevention and Control Act of 1970, referred to in text, is Pub. L. 91–513,

Oct. 27, 1970, 84 Stat. 1236, as amended, which is classified principally to chapter 13 (§801 et seq.) of Title 21,

Food and Drugs. For complete classification of this Act

to the Code, see Short Title note set out under section

801 of Title 21 and Tables.

§ 285q. Subscription to additional shares; authorization of appropriations

(a) The United States Governor of the Bank is

authorized to subscribe on behalf of the United

States to thirty thousand additional shares of

the capital stock of the Bank in accordance with

and subject to the terms and conditions of Resolution Numbered 46 adopted by the Bank’s Board

of Governors on November 30, 1971.