
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 50USC1706]

 
                   TITLE 50--WAR AND NATIONAL DEFENSE
 
           CHAPTER 35--INTERNATIONAL EMERGENCY ECONOMIC POWERS
 
Sec. 1706. Savings provisions


(a) Termination of national emergencies pursuant to National Emergencies 
        Act

    (1) Except as provided in subsection (b) of this section, 
notwithstanding the termination pursuant to the National Emergencies Act 
[50 U.S.C. 1601 et seq.] of a national emergency declared for purposes 
of this chapter, any authorities granted by this chapter, which are 
exercised on the date of such termination on the basis of such national 
emergency to prohibit transactions involving property in which a foreign 
country or national thereof has any interest, may continue to be so 
exercised to prohibit transactions involving that property if the 
President determines that the continuation of such prohibition with 
respect to that property is necessary on account of claims involving 
such country or its nationals.
    (2) Notwithstanding the termination of the authorities described in 
section 101(b) of this Act, any such authorities, which are exercised 
with respect to a country on the date of such termination to prohibit 
transactions involving any property in which such country or any 
national thereof has any interest, may continue to be exercised to 
prohibit transactions involving that property if the President 
determines that the continuation of such prohibition with respect to 
that property is necessary on account of claims involving such country 
or its nationals.

(b) Congressional termination of national emergencies by concurrent 
        resolution

    The authorities described in subsection (a)(1) of this section may 
not continue to be exercised under this section if the national 
emergency is terminated by the Congress by concurrent resolution 
pursuant to section 202 of the National Emergencies Act [50 U.S.C. 1622] 
and if the Congress specifies in such concurrent resolution that such 
authorities may not continue to be exercised under this section.

(c) Supplemental savings provisions; supersedure of inconsistent 
        provisions

    (1) The provisions of this section are supplemental to the savings 
provisions of paragraphs (1), (2), and (3) of section 101(a) [50 U.S.C. 
1601(a)(1), (2), (3)] and of paragraphs (A), (B), and (C) of section 
202(a) [50 U.S.C. 1622(a)(A), (B), and (C)] of the National Emergencies 
Act.
    (2) The provisions of this section supersede the termination 
provisions of section 101(a) [50 U.S.C. 1601(a)] and of title II [50 
U.S.C. 1621 et seq.] of the National Emergencies Act to the extent that 
the provisions of this section are inconsistent with these provisions.

(d) Periodic reports to Congress

    If the President uses the authority of this section to continue 
prohibitions on transactions involving foreign property interests, he 
shall report to the Congress every six months on the use of such 
authority.

(Pub. L. 95-223, title II, Sec. 207, Dec. 28, 1977, 91 Stat. 1628.)

                       References in Text

    The National Emergencies Act, referred to in subsecs. (a)(1) and 
(c)(2), is Pub. L. 94-412, Sept. 14, 1976, 90 Stat. 1255, as amended, 
which is classified principally to chapter 34 (Sec. 1601 et seq.) of 
this title. Title II of the National Emergencies Act is classified 
generally to subchapter II (Sec. 1621 et seq.) of chapter 34 of this 
title. For complete classification of this Act to the Code, see Short 
Title note set out under section 1601 of this title and Tables.
    Section 101(b) of this Act, referred to in subsec. (a)(2), is 
section 101(b) of Pub. L. 95-223, which is set out as a note under 
section 5 of the Appendix to this title.
