2012 US Code
Title 22 - Foreign Relations and Intercourse
Chapter 63 - SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED) (§§ 5401 - 5495)
Subchapter I - STRUCTURAL ADJUSTMENT (§§ 5411 - 5414)
Section 5414 - Debt-for-equity swaps and other special techniques
Publication Title | United States Code, 2012 Edition, Title 22 - FOREIGN RELATIONS AND INTERCOURSE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 63 - SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED) SUBCHAPTER I - STRUCTURAL ADJUSTMENT Sec. 5414 - Debt-for-equity swaps and other special techniques |
Contains | section 5414 |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 101-179, title I, §104, Nov. 28, 1989, 103 Stat. 1304. |
Statutes at Large Reference | 103 Stat. 1304 |
Public Law Reference | Public Law 101-179 |
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The President shall take all appropriate actions to explore and encourage innovative approaches to the reduction of the government-to-government and commercial debt burden of East European countries which have taken substantive steps toward political democracy and economic pluralism.
(b) Authority for discounted sales of debtNotwithstanding any other provision of law, the President may undertake the discounted sale, to private purchasers, of United States Government debt obligations of an East European country which has taken substantive steps toward political democracy and economic pluralism, subject to subsection (c) of this section.
(c) ConditionAn obligation may be sold under subsection (b) of this section only if the sale will facilitate so-called debt-for-equity or debt-for-development swaps wherein such newly privatized debt is exchanged by the new holder of the obligation for—
(1) local currencies, policy commitments, or other assets needed for development or other economic activities, or
(2) for an equity interest in an enterprise theretofore owned by the particular East European government.
(Pub. L. 101–179, title I, §104, Nov. 28, 1989, 103 Stat. 1304.)
Delegation of FunctionsFunctions of President under this section delegated to Secretary of the Treasury by section 4 of Ex. Ord. No. 12703, Feb. 20, 1990, 55 F.R. 6351, set out as a note under section 5401 of this title.
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