§ 286j. Use of Fund resources

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1945

   Bretton Woods Agreements Act

   Pub. L. 79–339 § 13 · 59 Stat. 512

   Enacted · 22 U.S.C. § 286j

   (July 31, 1945, ch. 339, § 13, 59 Stat. 517.)

   Source evidence

   Code source credit
   (July 31, 1945, ch. 339, § 13, 59 Stat. 517.)

   Enacted provision · exact public law section
   Sec. 13. stabilization operations by the fund (a) The governor and executive director of the Fund appointed by the United States are hereby directed to obtain promptly an official interpretation by the Fund as to whether its authority to use its resources extends beyond current monetary stabilization operations to afford temporary assistance to members in connection with seasonal, cyclical, and emergency fluctuations in the balance of payments of any member for current transactions, and whether it has authority to use its resources to provide facilities for relief, reconstruction, or armaments, or to meet a large or sustained outflow of capital on the part of any member. (b) If the interpretation by the Fund answers in the affirmative any of the questions stated in subsection (a), the governor of the Fund representing the United States is hereby directed to propose promptly and support an amendment to the Articles of Agreement for the purpose of expressly negativing such interpretation. The President is hereby authorized and directed to accept an amendment to that effect on behalf of the United States.

1 of 1 references resolved to an enrolled provision