An Act to establish certain positions in the Department of the Treasury, to fix the compensation for those positions, and for other purposes
PL 92-302 (H.R.13334), enacted 05/18/1972

148 
PUBLIC LAW 92-301-MAY 18, 1972 
[86 STAT. 
May 18, 1972 
[H. J. Res. 1174] 
Public Law 92-301 
JOINT RESOLUTION 
Making an appropriation for special payments to international financial 
institutions for the fiscal year 1972, and for other purposes. 
Resolved hy the Senate and House of Representatives 
of the United 
International 
States of AmeHca in Congress assembled, That the following sum is 
uTtions^^ '"^'^ 
appropriated, out of any money in the Treasury not otherwise appro-
Appropriation, 
priated, for the fiscal year ending June 30, 1972, namely: 
FUNDS 
APPROPRIATED 
TO 
THE 
PRESIDENT 
INTERNATIONAL FINANCIAL INSTITUTIONS 
Ante, 
p. 117. 
SPECIAL PAYMENTS TO INTERNATIONAL FINANCIAL 
INSTITUTIONS 
For payments by the Secretary of the Treasury to maintain the 
value in terms of gold of the holdings of United States dollars of the 
International Monetary Fund, the International Bank for Recon-
struction and Development, the Inter-American Development Bank, 
the International Development Association, and the Asian Develop-
ment Bank, to the extent provided in the articles of agreement of such 
institutions, as authorized by section 3 of the Par Value Modification 
Act (Public Law 92-268), such amounts as may be necessary (but 
not to exceed $1,600,000,000), to remain available until expended. 
Approved May 18, 1972. 
Public Law 92-302 
May 18, 1972 
[H. R. 13334] 
AN ACT 
To e^(tab]isli certain positions in the Department of the Treasury, to fix the 
compensation for tliose positions, and for other purposes. 
Be it enacted hy the Senate and House of Representatlres 
of the 
United States of America in Congress assembled, That (a) so much 
of the Act of February 17, 1922, as amended, as relates to the 
Under Secretary, and the Under Secretary for Monetary Affairs, in 
the Department of the Treasury (31 I^.S-C. sees. 1004 and 1005), is 
amended to read as follows: 
''There shall be in the Department of the Treasury a Deputy 
nder ecretaries. s;p(.j.gj-j^j.y^ 
^j^ Lender Secretary, and an Under 
Secretary 
for 
Monetary Affairs, each to be appointed by the President, by and 
with the advice and consent of the Senate. They shall perform such 
duties in the Office of the Secretary as may be prescribed by the 
"Counselor. 
Secretary of the Treasury. The President may, in appointing the 
Under Secretary, designate him as 'Counselor'. 
Treasury Depart-
ment. 
Positions, e s -
tablishment. 
68 Stat. 496; 
42 Stat. 366. 
Deputy and 
86 
STAT.] 
PUBLIC LAW 92-302-MAY 18, 1972 
149 
"The Deputy Secretary of the Treasury, in case of the death, 
resignation, absence, or sickness of the Secretary of the Treasury, 
shall perform the duties of the Secretary until a successor is 
appointed or such absence or sickness shall cease." 
(b) There shall be in the Department of the Treasury two Deputy 
Under Secretaries who shall be appointed by the President, by and 
with the advice and consent of the Senate. They shall perform 
such duties in the Office of the Secretary as may be prescribed by 
the Secretary of the Treasury. The President may, in appointing 
any Deputy Lender Secretary, designate him as "Assistant Secretary 
of the Treasury". Any person designated as Assistant Secretary of 
the Treasury under the preceding sentence shall not be taken into 
account.in applying section 234 of the Revised Statutes, as amended 
(31 U.S.C. sec. 1006). 
(c) Section 234 of the Revised Statutes, as amended (31 U.S.C. 
sec. 1006), is amended by striking out "four" and inserting in lieu 
thereof "five". 
(d) Section 3 of Reorganization Plan Xumbered 26 of 1950 (64 
Stat. 1280) is hereby repealed. 
SEC. 2. (a) Section 5313 of title 5 of the L'nited States Code is 
amended by inserting as paragraph (6) the following: 
"(6) Deputy Secretary of the Treasury." 
(b) Paragraph (10) of section 5314 of such title 5 is amended to 
read as follows: 
"(10) Under Secretary of the Treasury (or Counselor)." 
(c) Section 5315 of such title 5 is amended as follows: 
(1) By striking "(4)" at the end of paragraph (23) and 
inserting in lieu thereof "(5)". 
(2) 
By adding at the end thereof the following 
new 
paragraph: 
"(96) Deputy Under Secretaries of the Treasury (or Assist-
ant Secretaries of the Treasury) (2)." 
(d) Section 5316 of such title 5 is amended by striking out 
paragraphs (28) and (64). 
SEC. 3. (a) Except as otherwise provided in this section, this Act 
shall take effect on its date of enactment. 
(b) Any officer holding an office when this Act takes effect 
shall not be required to be reappointed to such office by reason of 
the enactment of this Act. Subsection (d) of the first section of 
this Act and subsection (d) of section 2 of this Act shall take 
effect upon confirmation by the Senate of Presidential appointees to 
fill the successor positions created by this Act. 
(c) Until January 21, 1973, no person within the Treasury 
Department who has been occupying a position under the Executive 
Schedule and who is hereafter appointed to a position created or 
authorized by this Act shall receive an increase in basic pay by 
virtue of such appointment. 
Approved May 18, 1972. 
Deputy Under 
Secretaries. 
"Assistant 
Secretary of the 
Treasury." 
Repeal. 
5 u s e app. 
80 Stat. 460; 
81 Stat. 198. 
84 Stat. 1888. 
80 Stat. 461; 
Ante, p. 69. 
Effective date. 
Savings pro-
vision. 
Pay increase, 
effective date.