
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: 22USC290l-7]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
           CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
 
   SUBCHAPTER XXVII--EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT
 
Sec. 290l-7. Exemption from securities laws for certain 
        securities issued by Bank; reports required
        

(a) Exemption from securities laws; reports to Securities and Exchange 
        Commission

    Any securities issued by the Bank (including any guaranty by the 
Bank, whether or not limited in scope) in connection with the raising of 
funds for inclusion in the Bank's ordinary capital resources as defined 
in article 7 of the Agreement and any securities guaranteed by the Bank 
as to both principal and interest to which the commitment in article 6, 
paragraph 4, of the Agreement is expressly applicable, shall be deemed 
to be exempted securities within the meaning of section 77c(a)(2) of 
title 15 and section 78c(a)(12) of title 15. The Bank shall file with 
the Securities and Exchange Commission such annual and other reports 
with regard to such securities as the Commission shall determine to be 
appropriate in view of the special character of the Bank and its 
operations and necessary in the public interest or for the protection of 
investors.

(b) Authority of Securities and Exchange Commission to suspend 
        exemption; reports to Congress

    The Securities and Exchange Commission, acting in consultation with 
such agency or officer as the President shall designate, may suspend the 
provisions of subsection (a) of this section at any time as to any or 
all securities issued or guaranteed by the Bank during the period of 
such suspension. The Commission shall include in its annual reports to 
the Congress such information as it shall deem advisable with regard to 
the operations and effect of this section.

(Pub. L. 101-513, title V, Sec. 562(c)(9), Nov. 5, 1990, 104 Stat. 
2035.)

                          Codification

    Subsecs. (a) and (b) were in the original (A) and (B), respectively, 
and were editorially redesignated for purposes of codification.
