■ 3- Pub. Law 1024 



All 70 Stat. 1121. 



ceiiernl ndBi'mistiiitive iuithoiity consistently with tlic terms of tliia 

 Act as lie sliiill liiul to be necessnry to cairy out the [H'ovisioiis of this 

 Act elFectively iiiul in the piihlic interest. In order to allow siifKcient Publioation 

 time to place the reorKanizations under tliis Act into elloct, the Secre- °^ "o^lo* li 

 tary is authorized to establish an etiective procedure and date of such 

 reorganizations, notice of which shall be published in the Fedeial 

 liefrister. .Su<h reor;;anization shall be accomplished as soon as prac- 

 ticable after the ai)proval of this Act, but not later than ninety (IX)) 

 calendar days after such approval. 



LOAN PROCEDURES 



.Skc. 4. (a) The Secretary is luithorized under rules and reu;ulntions 

 and under terms and conditions prescribed by him, to make loans for 

 financing and refinancing of operations, maintenance, replacement, 

 repair, and eauipment of Hshing gear and vessels, and for research ii.to 

 the basic protlems of fisheries. 



(b) Any loans made under the provisionf of this section shall be 

 subject to the following restrictions: 



(1) Hear an interest rate of not less than .3 per centum per annum; 



(2) Mature in not more than ten years; 



(3) No financial assistance shall be extended pursuant to this sec- 

 tion unless reasonable financial assistance applied for is not otherwise 

 available on reasonable terms. 



(c) There is hereby created a fisheries loan fund, which shall be 

 used by the Secretary as a revolving fund to make loans for financing 

 and lefinancing under this section. Any funds received by the Secre- 

 tary on or before June 30^ 1965, in payment of principal or interest 

 on any loans so made, shall be deposited in the fund and be available 

 for making additional loans under this section. Any funds so received 

 after June 30, 1965, and any balance pemaininj^ in the fund at the 

 close of June 30, 1965 (at which time the fund shall cease to exist), 

 shall be covered into the Treasury as miscellaneous receipts. There 

 are hereby authorized to be appropriated to the fund the sum of 

 $10,000,000 to provide initial capital. 



(d) The Secretary, subject to the specific limitations in this section, 

 ■may consent to the modification, with resi)ect to the rate of interest, 

 time of payment of any installment of principal, or security, of any 

 loan contract to which he is a party. 



INVE8TIOATION8, INFORMATION, BEPORTS 



Sfc. 5. (a) The Secretary shall conduct continuing investigations, 

 prepare and disseminate information, and make periodical reports to 

 the jiublic, to the President, and to Congress, with respect to the fol- 

 lowing mattet^ : 



(1) The production and How to market of fish and fishery products 

 domestically produced, and also those produced by foreign producers 

 which affect the domestic fisheries; 



(2) The availability and abundance and the biological requirements 

 of the fish and wildlife re.sources; 



(3) The comj)etitive economic position of the various fish and fish- 

 ery products with respect to each other, and with respect to competi- 

 tive domestic and foreign-produced coinmodities; 



(4) The collection and di.ssemi nation of statistics on commercial 

 and sport fishing; 



(5) The collection and dissemination of statistics on the nature and 

 availability of wildlife, progress in acquisition of additional refuges 

 and measures being taken to foster a coordinated program to encour- 

 age and develop wildlife values; 



