Page:United States Statutes at Large Volume 63 Part 1.djvu/336

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PUBLIC LAWS-CHS. 275, 276-JUNE 29, 1949 Affidavit. Penalty. Short title. AN ACT June 29,1949 A [H. R . 4332] To amend the National Bank Act and the Bretton Woods Agreements Act, and [Public Law 142] for other purposes. National Bank Act and Bretton Woods Agreements Act, amendments. 44 Stat. 1226. Post, p . 439. 59 Stat. 512 . 22 U.. C ., Supp. II, § 286b. Exempted securi- ties. 48 Stat. 76 . 48 Stat. 88 . Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That paragraph Seventh of section 8 of the National Bank Act, as amended (U. S . C., title 12, sec. 24), is amended by adding to the end thereof the follow- ing new sentence: "The limitations and restrictions herein contained as to dealing in and underwriting investme nt securities shall not apply to obligations issued by the International Bank for Reconstruction and I)evelopment which are at the timne eligible for purchase by a national bank for its own account: Provided,That no association shall hold obligations issued by said bank as a result of underwriting, dealing, or pllrchasing for its own account (and for this purpose obligations as to which it is under commitment shall be deemed to be held by it) in a total amount exceeding at any one time 10 per centum of its capital stock actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund". SEC. 2. The Bretton Woods Agreements Act, as amended (U. S. C., title 22, secs. 286-286k), is amended by adding at the end thereof a new section to be numbered section 15 and to read as follows: "SEC. 15. (a) Any securities issued bv International Bank for Reconstruction and Development (including any guaranty by the bank, whether or not limited in scope), and any securities guaranteed by the bank as to both principal and interest, shall be deemed to be exempted securities within the meaning of paragraph (a) (2) of sec- tion 3 of the Act of May 27, 1933, as amended (U. S. C., title 15. sec 77c), and paragraph (a) (12) of section 3 of the Act of June 6. 1934, as amended (U. S. C., title 15, sec. 78c). The bank shall file with the of an organization of Government employees that asserts the right to strike against the Government of the United States, or who advocates, or is a member of an organization that advocates, the overthrow of the Government of the United States by force or violence: Provided, That for the purposes hereof an affidavit shall be considered prima facie evidence that the person making the affidavit has not contrary to the provisions of this section engaged in a strike against the Govern- ment of the United States, is not a member of an organization of Government employees that asserts the right to strike against the Government of the United States, or that such person does not advo- cate, and is not a member of an organization that advocates, the overthrow of the Government of the United States by force or violence: Provided further, That any person who engages in a strike against the Government of the United States or who is a member of an organi- zation of Government employees that asserts the right to strike against the Government of the United States, or who advocates, or who is a member of an organization that advocates, the overthrow of the Gov- ernment of the United States by force or violence and accepts employ- ment the salary or wages for which are paid from any appropriation contained in this Act shall be guilty of a felony and, upon conviction, shall be fined not more than $1,000 or imprisoned for not more than one year, or both: Provided further, That the above penalty clause shall be in addition to, and not in substitution for, any other provisions of existing law. SEC. 502. This Act may be cited as the "Labor-Federal Security Appropriation Act, 1950". Approved June 29, 1949. [CHAPTER 276] 298 [63 STAT.