By virtue of the authority vested in the President by the Constitution and statutes of the United States, including section 5 (b) of the act of October 6, 1917, as amended (12 U.S.C. 95a), and in view of the continued existence of the national emergencies declared by Proclamation No. 2914 of December 16, 1950, and Proclamation No. 4074 of August 15, 1971, and the importance of continuing (a) to exercise the necessary vigilance over exports from the standpoint of their significance to the national security of the United States; (b) to further significantly the foreign policy of the United States and to aid in fulfilling its international responsibilities; and (c) to protect the domestic economy from the excessive drain of scarce materials and reduce the serious inflationary impact of abnormal foreign demand, it is hereby ordered:
SECTION 1. Notwithstanding the expiration of the Export Administration Act of 1969, as amended, the provisions for administration of that act contained in Executive Order 11533 of June 4, 1970 as continued in effect by Executive Order 11683 of August 29, 1972, shall continue in full force and effect and shall authorize the exercise and administration of export controls, under the authority vested in me as President of the United States by section 5 (b) of the act of October 6, 1917, as amended (12 U.S.C. 95a).
SEC. 2. Except to the extent another basis is provided in the second sentence of section 3 of this order, all rules and regulations issued by the Secretary of Commerce, published in title 15, chapter III, subchapter B of the Code of Federal Regulations, parts 368 to 399 inclusive, and all orders, regulations, licenses and other forms of administrative action issued or taken pursuant thereto, shall until amended or revoked by the Secretary of Commerce, remain in full force and effect, the same as if issued or taken pursuant to this order, except that the maximum fine which may be imposed under part 387.1(a) (1) shall not exceed $10,000 and that the civil penalty provided for under part 387.1 (b) (3) will not be applicable to any violation of the regulations under this order.
SEC. 3. The delegations of authority in this order shall not affect the authority of any agency or official pursuant to any other delegation of Presidential authority, presently in effect or hereafter made, under section 5 (b) of the act of October 6, 1917, as amended. Those regulations issued under the Export Control Act of 1949, as amended, to implement foreign policy set forth in Executive Orders Nos. 11322 of January 5, 1967 and 11419 of July 29, 1968, shall until amended or revoked by the Secretary of Commerce continue to apply as regulations issued under such orders.
The White House,
July 30, 1974.