applicable operating-differential or construction-differential subsidy contract or mortgage or other agreement, and of the right to operating-differential subsidy in respect of such vessel, and may include any one or more of the following provisions, in whole or in part, as, and to the extent that, the Commission may deem to be necessary or appropriate to carry out the purposes of the Merchant Marine Act, 1936, or the purposes and provisions of this joint resolution: (1) Lay-up of the vessel by the owner or, at the option of the Commission, in the custody of the Commission, with payment or reimbursement by the Commission of necessary and proper expenses thereof (including reasonable overhead and insurance), or in lieu of such payment or reimbursement, a fixed periodic allowance therefor; (2) Postponement, for a period not in excess of the period or periods of lay-up, of the maturity date of each installment on account of the principal of obligations to the United States in respect of the vessel (whether or not such maturity date shall fall within such period or periods), or rearrangement of such maturities; (3) Postponement or cancelation of interest accruing on such obligations during such period or periods of lay-up; (4) Extension for a period not in excess of the period or periods of lay-up, of the twenty-year life limitation in respect of the vessel, and of the period or periods of other limitations and provisions of the Merchant Marine Act, 1936, insofar as they are based upon a twenty-year life; (5) Provisions for such temporary or emergency employment of the vessel in lieu of lay-up as may be practicable, with such arrangements for management of the vessel, payment of expenses, and application of the proceeds of such employment, as the Commission may approve, the period or periods of such operation being included as part of the period or periods of lay-up; (6) The payment to the Commission, upon termination of the arrangements with the applicant hereunder, out of the applicant's net profits, earned while such arrangements were in effect, in excess of 10 per centum per annum on the capital necessarily employed in the applicant's business, in reimbursement, to the extent that the Commission shall deem it necessary to carry out the purposes of this joint resolution, on account of obligations postponed or canceled and expenses incurred or paid by the Commission under this subsection. For the purposes of this paragraph capital of the applicant represented by vessels of the applicant laid up or operated under this joint resolution shall not be excluded from capital necessarily employed in the applicant's business. The Commission may require that the vessels so laid up or operated be security for reimbursement hereunder. (d) The adjustments and arrangements made under subsection (c) in respect of any vessel shall be subject to such readjustment or modification from time to time as may be deemed necessary by the Commission to carry out the purposes and provisions of this joint resolution. (e) Moneys in the construction fund of the Commission shall be available for expenses of the Commission incurred in adjustments or arrangements made under this joint resolution. [CHAPTER 639-3D SESSION] [H. J. Res. 582] JOINT RESOLUTION Making an appropriation to enable the United States Maritime Commission to establish the marine and war-risk insurance fund. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That to enable the United States Maritime Commission to establish the marine and war-risk insurance fund as authorized by and in accordance with title II of the Merchant Marine Act, 1936, as amended by the Act entitled "An Act to amend the Merchant Marine Act, 1936, as amended, to provide for marine war-risk insurance and reinsurance and for marine-risk insurance, and for other purposes", approved June 29, 1940, there is hereby appropriated, out of any money in the Treasury not otherwise appropriated, the sum of $40,000,000, of which not to exceed $150,000 may be expended by the Commission for personal services in the District of Columbia and elsewhere, traveling expenses, printing and binding, and other necessary administrative expenses: Provided, That expenses incurred in the temporary employment of experts in marine insurance, including attorneys, in connection with the investigation and settlement of claims shall not be considered as administrative expenses hereunder, and all such expenses shall be certified by the Chairman of the Commission in each case as necessary and reasonable. Approved, July 18, 1940. [CHAPTER 725-3D SESSION] [H. J. Res. 596] JOINT RESOLUTION To authorize Commander Howard L. Vickery to hold the office of a member of the United States Maritime Commission. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That notwithstanding any provision of law contrary hereto or inconsistent herewith, Commander Howard L. Vickery, being a commissioned officer on the active list, United States Navy, is authorized to hold the office of a member of the United States Maritime Commission without loss of or prejudice to his status as a commissioned officer on the active list of the United States Navy, and if appointed to such civil office he shall receive, in addition to his pay and allowances as such commissioned officer, an amount equal to the difference between such pay and allowances as such commissioned officer and the salary prescribed by law for such civil office. Approved, September 24, 1940. (439) [CHAPTER 758-3D SESSION] [H. J. Res. 603] JOINT RESOLUTION To authorize the United States Maritime Commission to furnish to the State of Pennsylvania a vessel suitable for the use of the Pennsylvania State nautical school, and for other purposes. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the United States Maritime Commission is authorized, under such rules and regulations as it may prescribe, to furnish to the State of Pennsylvania for use by the Pennsylvania State nautical school a vessel suitable for merchant marine training, together with all her apparel, charts, books, and instruments of navigation. SEC. 2. Any department or independent agency of the Government is hereby authorized, notwithstanding any other provision of law, to supply a suitable vessel for such use by the United States Maritime Commission: Provided, That the same can be spared without detriment to the service to which it is assigned. SEC. 3. Any vessel furnished under the authority of this joint resolution shall be and remain the property of the United States and shall be maintained in good repair by the United States Maritime Commission. Approved, October 8, 1940. [CHAPTER 1-1ST SESSION] AN ACT To authorize major alterations to certain naval vessels. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That for the purpose of improving antiaircraft defenses of combatant and auxiliary vessels of the United States, alterations to such vessels are hereby authorized, and expenditures therefor shall not be limited by the provisions of the Act approved July 18, 1935 (49 Stat. 482; 5 U. S. C., Supp. V, sec. 468a), but the total cost of such alterations shall not exceed $300,000,000. Approved, January 29, 1941. (441) |