2686 Exercise of powers. 0 Stat. 754. 50U.S.C.app. 16u (b). INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [63 STAT. limitations hereinafter set forth, shall be used by the Commission or such other instrumentality as may be agreed upon by the Government of the United States of America and the Imperial Government of Iran for the following purposes: 1. Financing studies, research, instruction and other educational activities of the citizens of the United States of America in schools and institutions of higher learning located in Iran or of the nationals of Iran in United States schools and institutions of higher learning located outside the continental United States, Hawaii, Alaska (in- cluding the Aleutian Islands), Puerto Rico and the Virgin Islands, including payment for transporation, tuition, maintenance and other expenses, incident to scholastic activities; or 2. Furnishing transportation for nationals of Iran who desire to attend United States schools and institutions of higher learning in the continental United States, Hawaii, Alaska (including the Aleutian Islands), Puerto Rico and the Virgin Islands, and whose attendance will not deprive citizens of the United States of America of an oppor- tunity to attend such schools and institutions. Article 2 In furtherance of the aforementioned purposes the Commission may, subject to the provisions of the present agreement, exercise all powers necessary to the carrying out of the purposes of this agreement, in- cluding the following: 1. Authorize the Treasurer of the Commission or such other person as the Commission may designate to open and operate bank accounts in the Bank Melli Iran in the name of the Commission. The appoint- ment of the Treasurer or such designee shall be approved by the Secretary of the United States of America. 2. Authorize the disbursement of funds and the making of grants, of funds for the approved purposes of this agreement. 3. Plan, adopt and carry out programs in accordance with the pur- pose of Section 32 (b) of the United States Surplus Property Act of 1944, as amended. 4. Recommend to the Board of Foreign Scholarships, provided for in the United States Surplus Property Act of 1944, as amended, stu- dents, professors, research scholars resident in Iran, and institutions of Iran qualified to participate in the programs in accordance with aforesaid act. 5. Recommend to the aforesaid Board of Foreign Scholarships such qualifications for the selection of participants in the programs as it may deem necessary for achieving the purpose and objectives of this agreement. 6. Provide for periodic audits of the accounts of the Commission as directed by the auditors selected by the Secretary of State of the United States of America. 7. Engage an Executive Officer, administrative and clerical staff, fix and pay the salaries and wages thereof.
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