(Pub. L. 87–195, pt. I, § 231, as added Pub. L. 91–175, pt. I, § 105,Dec. 30, 1969, 83 Stat. 809; amended Pub. L. 93–390, § 2(1),Aug. 27, 1974, 88 Stat. 763; Pub. L. 95–268, § 2,Apr. 24, 1978, 92 Stat. 213; Pub. L. 97–65, § 2,Oct. 16, 1981, 95 Stat. 1021; Pub. L. 99–204, §§ 3,
(a),Dec. 23, 1985, 99 Stat. 1669; Pub. L. 100–461, title V, § 555,Oct. 1, 1988, 102 Stat. 2268–36; Pub. L. 102–549, title I, § 101,Oct. 28, 1992, 106 Stat. 3651; Pub. L. 103–392, title I, § 105,Oct. 22, 1994, 108 Stat. 4099.)
References to Subchapter I Deemed To Include Certain Parts of Subchapter II
References to subchapter I of this chapter are deemed to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See section 202(b) ofPub. L. 92–226
, set out as a note under section
of this title, and sections
of this title.
Amendment by Pub. L. 100–461
is based on sections 102 and 110(a)(1) of title I of H.R. 5263
, One Hundredth Congress, as passed by the House of Representatives on Sept. 20, 1988, and sections 102 and 110(a)(1) of title I of S. 2757, One Hundredth Congress, as reported Sept. 7, 1988, and enacted into law by Pub. L. 100–461
A prior section 231 ofPub. L. 87–195
, pt. 1, Sept. 4, 1961, 75 Stat. 432
, related to general authority of President to participate in financing of surveys of investment opportunities in less developed friendly countries, prior to the general reorganization of this subpart by Pub. L. 91–175
, pt. I, § 105,Dec. 30, 1969, 83 Stat. 807
1994—Pub. L. 103–392
inserted “, Ireland, and Northern Ireland” after “title 19” in par. (2) of second undesignated par.
1992—Pub. L. 102–549
, in first undesignated par., substituted “countries and areas, and countries in transition from nonmarket to market economies,” for “friendly countries and areas,”.
1988—Pub. L. 100–461
, in par. (2) of second undesignated par., substituted “984 or less in 1986 United States dollars” for “$896 or less in 1983 United States dollars” and “$4,269 or more in 1986 United States dollars (other than countries designated as beneficiary countries under section
)” for “$3,887 or more in 1983 United States dollars”.
Pub. L. 100–461
, in par. (3) of second undesignated par., substituted “section
of this title, section
of this title, and section” for “sections
of this title and” and “tropical forests and endangered species” for “biological diversity”.
1985—Pub. L. 99–204
, in second undesignated par., substituted “$896 or less in 1983 United States dollars” for “$680 or less in 1979 United States dollars” and “$3,887 or more in 1983 United States dollars” for “$2,950 or more in 1979 United States dollars” in par. (2), added par. (3), and added cl. (n).
1981—Pub. L. 97–65
substituted “$680 or less in 1979 United States dollars” for “$520 or less in 1975 United States dollars” and “$2,950 or more in 1979 United States dollars” for “$1,000 or more in 1975 United States dollars” in par. (2) of undesignated paragraph covering the guidelines to be used with regard to operations in less developed countries, inserted “, and to seek to support those developmental projects having positive trade benefits for the United States” in cl. (i) of undesignated paragraph enumerating the activities of the Corporation, and, in that unnumbered paragraph, added cl. (m), relating to investments which would reduce positive trade benefits.
1978—Pub. L. 95–268
inserted undesignated par. relating to determinations by the Corporation respecting insurance, financing, or reinsurance for a project, in cl. (e) designated existing provisions as subcl. (1) and, as so designated, substituted reference to guaranty activities for reference to financing activities and reference to small businesses for reference to businesses with a net worth of not more than $2,500,000 or with total assets of not more than $7,500,000, and added subcl. (2), struck out cl. (f) relating to encouragement and support of private investments for certain less developed friendly countries, redesignated former cls. (g) to (k) as (f) to (j), respectively, struck out former cl. (l) relating to preference by the Corporation for projects in countries having a per capita income of $450 or less in 1973 United States dollars, redesignated former cl. (m) as (k), and added cl. (n) which, as added, was redesignated as (l).
1974—Pub. L. 93–390
, in introductory par., substituted “social development” for “social progress”, in cl. (a) inserted provisions for conducting insurance and reinsurance operations and substituted provisions requiring in financial operations consideration of economic and financial soundness of projects for provisions requiring consideration of economic and financial soundness of projects and availability of financing from other sources on appropriate terms, in cl. (d) substituted “efforts to share its insurance and reinsurance” for “when appropriate, efforts to share its insurance”, in cl. (e) substituted provisions requiring preferential treatment to investment projects involving businesses with enumerated net worth or total assets for provisions requiring utilization and encouragement for full participation in Corporation programs of small businesses, in cl. (i) inserted “and employment” before “objectives”, and added cls. (l) and (m).
Overseas Private Investment Corporation; Reaffirmation of Support
Pub. L. 100–418
, title II, § 2203(a),Aug. 23, 1988, 102 Stat. 1328
, provided that: “The Congress reaffirms its support for the Overseas Private Investment Corporation as a United States Government agency serving important development assistance goals. In order to enhance the Corporation’s ability to meet these goals, the Overseas Private Investment Corporation should increase its loan guaranty and direct investment programs.”
Ex. Ord. No. 11579. Overseas Private Investment Corporation
Ex. Ord. No. 11579, Jan. 19, 1971, 36
, as amended by Ex. Ord. No. 12107, Dec. 28, 1978, 44
; Ex. Ord. No. 12163, Sept. 29, 1979, 44
By virtue of the authority vested in me by the Foreign Assistance Act of 1961 (75 Stat. 424
), as amended (hereinafter the “Act”) [section
et seq. of this title] and section
of the United States Code, and as President of the United States, it is ordered as follows:
Section 1. Transfer to Overseas Private Investment Corporation. All obligations, assets and related rights and responsibilities arising out of, or related to, predecessor programs and authorities similar to those provided for in sections 234(a), (b) and (d) of the Act [section
, (b) and (d) of this title] are hereby transferred to the Overseas Private Investment Corporation (hereinafter the “Corporation”).
Sec. 2. Delegation of functions. (a) [Revoked by Ex. Ord. No. 12163, Sept. 29, 1979, 44
(b) The function of prescribing regulations relating to the reinstatement or restoration of officers and employees of the Corporation to other government positions, when their appointment to a position in the Corporation was made from another government position and their separation from the Corporation was not made for cause, is hereby delegated to the Office of Personnel Management.
Sec. 3. Allocation and transfer of funds. Funds made available under section 232 of the Act (repealed by section 105 of the Foreign Assistance Act of 1969) [section
of this title] which are obligated but unexpended are hereby transferred to the Corporation.
Sec. 4. General provisions. (a) As used in this order, the words “function” or “functions” include any duty, obligation, power, authority, responsibility, right, privilege, discretion, or activity.
(b) The Corporation shall be deemed to be the successor of the Agency for International Development and the Administrator thereof, with respect to all functions vested in the Corporation pursuant to law.
(c) Except to the extent that they may be inconsistent with this order, all determinations, authorizations, regulations, rulings, certificates, orders, directives, contracts, agreements, and other actions made, issued, or entered into with respect to any function affected by this order and not revoked, superseded or otherwise made inapplicable before the date of this order, shall continue in full force and effect until amended, modified, or terminated by appropriate authority.
(d) Executive Order No. 10973 of November 3, 1961, as amended [set out as a note under this section], is hereby superseded insofar as any provision therein is in conflict with any provision herein.
(e) The provisions of this order shall become effective upon adoption by the Board of Directors of bylaws for the Corporation.