PUBLIC LAWS-CH. 393-AUG. 4 , 1949 entitled to additional pay at the rate of $2 per month from the date of the deed or service for which the award is made, and each emblem or insignia in lieu of a medal of honor, a distinguished service medal, or a Coast Guard medal shall entitle him to further additional pay at the rate of $2 per month from the date of the deed or service for which such award is made, and such additional pay shall continue throughout his active service, whether such service shall or shall not be continuous. § 496. Time limit on award; report concerning deed No medal of honor, distinguished service medal, Coast Guard medal, or emblem or insignia in lieu thereof shall be issued to any person after more than five years from the date of the deed or service justify- ing the awarding thereof, nor unless a specific statement or report distinctly setting forth the deed or service and suggesting or recom- mending official recognition thereof shall have been made by his superior through official channels at the time of the deed or service or within one year after the deed or termination of the service. § 497. Honorable subsequent service as condition to award No medal of honor, distinguished service medal, Coast Guard medal, or emblem, or insignia in lieu thereof shall be awarded or presented to any individual, or to the representative of any individual, whose entire service subsequent to the time he distinguished himself shall not in the opinion of the Commandant have been honorable. § 498. Posthumous awards In case an individual who distinguishes himself dies before the making of any award to which he may be entitled, as authorized in this chapter, the award may be made and presented within five years from the date of the act or service justifying the award to such next of kin as may have been designated by the individual, or in the absence of such designation, or if the designated person is not alive at the time of the award, or the relationship between such person and the service- man shall have been terminated before his death, then to such repre- sentative as the President designates. In the event of a posthumous award when the award will be made to the parents of the deceased and the parents have been divorced or separated, a duplicate award may be made to each parent. § 499. Delegation of powers to make awards; rules and regu- lations The President may delegate to the Secretary, under such conditions regulations, and limitations as he prescribes, the powers conferred upon him to make the awards designated in this chapter, and the President may make any and all rules, regulations, and orders which he deems necessary in the conferring of such awards. § 500. Life-saving medals (a) The Secretary of the Treasury may, under regulations pre- scribed by him, award a Life-saving medal of gold or silver to any person, including personnel of the Coast Guard, who rescues or endeav- ors to rescue any other person from drowning, shipwreck, or other peril of the water in accordance with the following provisions: (1) if such rescue or attempted rescue is made at the risk of one's own life and evidences extreme and heroic daring, the medal shall be of gold; (2) if such rescue or attempted rescue is not sufficiently dis- tinguished to deserve the medal of gold, but evidences the exercise of such signal exertion as to meit recognition, the medal shall be of silver. 536 [63 STAT.