Sec. 908. Condition on IMF quota increase for the People’s Republic of China
251 words·~1 min read·
/bill/117/hr/4792/ih/section-908A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The United States Governor of the International Monetary Fund (in this section referred to as the Fund ) shall use the voice and vote of the United States to oppose, and may not consent to, an increase in the quota of the People’s Republic of China in the Fund, unless the Secretary of the Treasury reports to the Congress that— the Board of Governors of the Fund is considering admission of Taiwan as a member of the Fund, pursuant to the recommendation of the Board of Executive Directors of the Fund; or Taiwan enjoys meaningful participation in the Fund, including through— participation in regular surveillance activities of the Fund with respect to the economic and financial policies of Taiwan, consistent with Article IV consultation procedures of the Fund; employment opportunities for Taiwan nationals, without regard to any consideration that, in the determination of the Secretary, does not generally restrict the employment of nationals of member countries of the Fund; and the ability to receive appropriate technical assistance and training by the Fund.
The Secretary of the Treasury may waive subsection
(a)of this section with respect to a proposal on reporting to the Congress that providing the waiver will substantially promote the objective of securing more equitable treatment of Taiwan at each international financial institution (as defined in section 1701(c)(2) of the International Financial Institutions Act). This section shall have no force or effect beginning with the date that is 7 years after the date of the enactment of this Act.