Sec. 5. Waiver
74 words·~1 min read·
/bill/119/hr/4346/rh/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
With respect to a foreign financial institution, the President may waive the requirements of section 3(a) for not more than 180 days at a time upon reporting to Congress that— the waiver advances the objective of resolving the national emergency described in the Executive Order listed under section 3(a)(1); or the waiver is important to the national interest of the United States, provided that the President includes a detailed explanation of the reasons therefor.