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INVESTMENT GUARANTY AND INSURANCE FUND 
Sec. 15. There shall be established in the Treasury of 
the United States a Guaranty and Insurance Fund, which 
shall have separate accounts to be known as the Guaranty 
Reserve and the Insurance Reserve, which reserves shall be 
available for discharge of liabilities, as provided in sections 
13 and 14 of this Act, until such time as all such liabilities 
have been discharged or have expired or until all such 
reserves shall have been expended in accordance with the 
provisions of this section. The Insurance Reserve shall be 
funded by the premiums received from licensees, as provided 
in section 14 of this Act, and the Guaranty Reserve shall be 
funded by such sums as shall be appropriated pursuant to 
section 22 of this Act. 
NONDISCRIMINATORY TREATMENT 
Sec. 16. For purposes of export controls, section 27 of 
the Act of June 5, 1920, customs laws, and tax laws of 
the United States, and the applicable implementing regu- 
lations thereof, all hard minerals recovered from the deep 
seabed under a license issued pursuant to this Act shall 
be deemed to have been recovered within the United States, 
and such laws, regulations, and controls shall be admin- 
istered so that there will be no discrimination between 
