Sec. 603. Transfer of functions
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/bill/115/s/2463/rs/section-603A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective at the end of the transition period, there shall be transferred to the Corporation the functions, personnel, assets, and liabilities of— the Overseas Private Investment Corporation, as in existence on the day before the date of the enactment of this Act; and the following elements of the United States Agency for International Development: The Development Credit Authority. The enterprise funds. The Office of Private Capital and Microenterprise. Any bilateral agreement of the United States in effect on the date of the enactment of this Act that serves as the basis for programs of the Overseas Private Investment Corporation shall be considered as satisfying the requirements of section 301(a).
During the transition period, the agencies specified in subsection
(a)shall— continue to administer the assets and obligations of those agencies; and carry out such programs and activities authorized under this Act as may be determined by the President.