
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC1355]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
               CHAPTER 15--THE REPUBLIC OF THE PHILIPPINES
 
      SUBCHAPTER IV--GENERAL PROVISIONS RELATING TO TRADE RELATIONS
 
Sec. 1355. Suspension of processing tax on coconut oil

    Whenever the President, after consultation with the President of the 
Philippines, finds that adequate supplies of neither copra nor coconut 
oil, the product of the Philippines, are readily available for 
processing in the United States, he shall so proclaim, and after the 
date of such proclamation the provisions of section 2470(a)(2) of the 
Internal Revenue Code shall be suspended until the expiration of 30 days 
after he proclaims that, after consultation with the President of the 
Philippines, he has found that such adequate supplies are so readily 
available.

(Apr. 30, 1946, ch. 244, title V, Sec. 505(b), 60 Stat. 157.)


                        Suspension of Provisions

    Section not applicable during such time as the revised agreement 
between the United States and the Philippines is in effect, see section 
1373 of this title.

                       References in Text

    Section 2470(a)(2) of the Internal Revenue Code, referred to in 
text, is a reference to section 2470(a)(2) of the Internal Revenue Code 
of 1939. Section 2470 was repealed by section 7851 of the Internal 
Revenue Code of 1954, Title 26, and was reenacted as sections 4511 and 
4513 of Title 26. The Internal Revenue Code of 1954 was redesignated the 
Internal Revenue Code of 1986 by Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 
100 Stat. 2095. Sections 4511 and 4513 of Title 26 were repealed by Pub. 
L. 87-456, title III, Sec. 302(d), May 24, 1962, 76 Stat. 77, effective 
Aug. 31, 1963.


       Termination of Suspension of Additional Rate on Coconut Oil

    By Proc. No. 2847, July 28, 1949, 14 F.R. 4773, 63 Stat. 1279, the 
President found that ``adequate supplies of copra and coconut oil, the 
product of the Philippines, are readily available for processing in the 
United States'' and that upon the expiration of 30 days from July 28, 
1949, the suspension of the provisions of section 2470(a)(2) of the 
Internal Revenue Code of 1939 will be terminated.


                         Suspension Proclamation

    By Proc. No. 2693, June 28, 1946, 11 F.R. 7255, 60 Stat. 1349, the 
President found that ``adequate supplies of neither copra nor coconut 
oil, the product of the Philippines, are readily available for 
processing in the United States,'' and therefore the provisions of 
section 2470(a)(2) of the Internal Revenue Code of 1939 are suspended.

                  Section Referred to in Other Sections

    This section is referred to in section 1373 of this title.
