PUBLIC LAWS-CHS. 535, 536-JULY 2, 3, 1946 59 Stat. 298. 5U.S.C., Supp.V, § 922. Ante, p. 218. July 3, 1946 [S. 2345] [Public Law 485] such date of any employee so excused shall be without loss of pay or charge to annual leave or accrued compensatory time if, during the month of July 1946, such employee performs work (without pay or time credit therefor) outside of the regularly scheduled hours of duty in any administrative workweek, at a time or times, other than Sundays, to be selected by the head of his department, establishment, or agency, for the number of hours for which compensation is paid with respect to July 5, 1946. July 5, 1946, shall not be construed to be a holiday within the meaning of section 302 of the Federal Employees Pay Act of 1945, as amended, or any other provision of law or regulation authorizing payment of compensation at premium rates for holiday work, and shall not be construed as a nonworkday within the meaning of any leave regulation. Approved July 2, 1946. [CHAPTER 536] AN ACT To provide for the retention by the United States Government or its agencies or instrumentalities of real and personal property within the Philippines now owned or later acquired and for the administration of the Trading With the Enemy Act of October 6, 1917, as amended, in the Philippines, subsequent to independence. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SHORT TITLE SECTION 1. This Act may be cited as the "Philippine Property Act of 1946". U.Rht topropeerttyi SEC. 2. There shall remain vested in the Government of the United Philippines. States or its agencies or instrumentalities all the right, title, and interest of the said Government or its agencies or instrumentalities to all real and personal property within the Philippine Islands as may now be vested in, or later be acquired by the Government of the United States or any of its agencies or instrumentalities. powers under Trading SEC. 3 . The Trading With the Enemy Act of October 6, 1917 (40 ith the Eney Act. Stat. 411), as amended, shall continue in force in the Philippines 5s1-31; supp. v, app after July 4, 1946, and all powers and authority conferred upon the iA3te, p . 50 ,64 ,182; President of the United States or the Alien Property Custodian by post, p). 925,944. the terms of the said Trading With the Enemy Act, as amended, with respect to the Philippines, shall continue thereafter to be exer- cised by the President of the United States, or such officer or agency Transfer of prop- as he may designate: Provided, That all property vested in or trans- erty. ferred to the President of the United States, the Alien Property Custodian, or any such officer or agency as the President of the United States may designate under the Trading With the Enemy Act, as amended, which was located in the Philippines at the time of such vesting, or the proceeds thereof, and which shall remain after the satisfaction of any claim payable under the Trading With the Enemy Act, as amended, and after the payment of such costs and expenses of administration as may by law be charged against such property or proceeds, shall be transferred by the President of the United States to the Republic of the Philip- Indemnification. pines: Provided further, That such property, or proceeds thereof, may be transferred by the President of the United States to the Republic of the Philippines upon indemnification acceptable to the President of the United States by the Republic of the Philippines for such claims, costs, and expenses of administration as may by law be charged against such property or proceeds thereof before final 418 [60 STAT.