Executive Order 11036—Administration of the Agricultural Trade Development and Assistance Act of 1954, as Amended

By virtue of the authority vested in me by Section 301 of Title 3 of the United States Code, and as President of the United States, it is ordered that Executive Order No. 10900 of January 5, 1961, as amended, be, and it is hereby, further amended as follows:

( I ) By substituting for Section 4 ( a ) the following:

"SEC. 4. Foreign currencies. (a) (1) Foreign currencies which accrue under Title I of the Act may be used for the purposes set forth in Section 104 of the Act in amounts consonant with applicable provisions of law and of sales agreements and loan agreements. Except as may be inconsistent with such law or agreements, priority shall be accorded to the sale of such currencies to appropriations or to their sale otherwise for dollars. To such extent as he may deem necessary, the Director of the Bureau of the Budget shall fix the amounts of such currencies to be used for the purposes set forth in Section 104. The Director shall notify the Secretary of the Treasury with respect to any amounts so fixed.

"(2) The function conferred upon the President by the penultimate provisions of Section 104 of the Act of waiving the applicability of Section 1415 of the Supplemental Appropriation Act, 1953 (31 U.S.C. 724), is hereby delegated to the Secretary of State in respect of Section 104 (e) of the Act and to the Director of the Bureau of the Budget in all other respects."

(II) By inserting the following new paragraph after Section 4(d) (4):

"(5) Those under Section 104(s) of the Act by the Department of the Treasury in consultation with the Department of State. The function conferred upon the President by Section 104(s) of the Act of prescribing terms and conditions is hereby delegated to the Secretary of the Treasury and shall be performed by him in consultation with the Secretary of State."

(III) By substituting for Section 4(d)(7) the following:

"'(7) Those under Section 104(g) of the Act by the Department of State. The function conferred upon the President by Section 104(g) of the Act of determining the manner in which the loans provided for in that section shall be made is hereby delegated to the Secretary of State."

JOHN F. KENNEDY

THE WHITE HOUSE,

July 11, 1962

(II) By inserting the following new paragraph after Section 4(d)

(4):

"(5) Those under Section 104(s) of the Act by the Department of the Treasury in consultation with the Department of State. The function conferred upon the President by Section 104(s) of the Act of prescribing terms and conditions is hereby delegated to the Secretary of the Treasury and shall be performed by him in consultation with the Secretary of State."

(III) By substituting for Section 4(d)(7) the following:

"'(7) Those under Section 104(g) of the Act by the Department of State. The function conferred upon the President by Section 104(g) of the Act of determining the manner in which the loans provided for in that section shall be made is hereby delegated to the Secretar.y of State."

JOHN F. KENNEDY

THE WHITE HOUSE,

July 11, 1962