61 STAT.] 80TH CONG. , 1ST SESS.-CH. 166 -JUNE 30, 1947 (r) The Act approved February 11, 1937 (50 Stat. 19), as amended; 15 U. s . . 606k-1 (s) So much of section 32 (b) of the Farm Credit Act of 1937,ote approved August 19, 1937 (50 Stat. 703), as relates to the Reconstruc- tion Finance Corporation and so much of section 33 (b) of the said Act as relates to the payment of the expenses of corporations formed 50Stat. 716 , 717. by the consolidation of two or more regional agricultural credit (b), 1148c (b). corporations; (t) So much of the Act approved June 25, 1938 (52 Stat. 1193), as relates to the Reconstruction Finance Corporation; (u) Section 12 of the Federal Highway Act of 1940, approved September 5, 1940 (54 Stat. 867); 54 Stat. 871. (v) Section 5 of the Act approved June 10, 1941 (55 Stat. 250); 15 U. . C . § 690. 15U. S. C.§§00. w) The Act approved October 23, 1941 (55 Stat., ch. 454, p. 744); 5 U. S.C §§606b, x) The Act approved March 27, 1942 (56 Stat., ch. 198, p. 174); 6 0 6b-1 ,6ob-2 ,609q. y) The Act approved June 5, 1942 (56 Stat., ch. 352, p. 326); and 60 stat. 901. z) Sections 1 and 2 of Public Law 656, 79th Congress, approved 15 U. S. C 0§604, 606b, 606b -4 , 006b -5, August 7, 1946. 614. SEC. 207. The liquidation of the affairs of the Smaller War Plants Abolitionof Smaller Corporation administered by the Reconstruction Finance Corpora-p .,etc. tion pursuant to Executive Order 9665 shall be carried out by the Re- 504un. C. app. construction Finance Corporation, notwithstanding the provisions of 04 note. the last paragraph of section 5 of the First War Powers Act, 1941. 5 Stat. 3 app. The Smaller War Plants Corporation is hereby abolished. §605. SEC. 208. (a) The Reconstruction Finance Corporation shall have Purchase of surplus the power to purchase any surplus property for resale, subject to regu- lations of the War Assets Administrator or his successor, to small busi- ness when, in its judgment, such disposition is required to preserve and strengthen the competitive position of small business. The purchase of surplus property under this section shall be given priority under the Surplus Property Act of 1944, as amended, immediately following 58 Stat. 76 . 50US.C.app. transfers to Government agencies under section 12 of such Act, as §§5611-1646 . amended, and disposals to veterans under section 16 of such Act, as 58st p. 678. amended. The provisions of section 12 (c) of the Surplus Property so U. s . c . app. Act of 1944, as amended, shall be applicable to purchases made under Is5'tat. 773. this section. The Reconstruction Finance Corporation shall not pur- 162 5 . s. app chase any real property for resale to small business pursuant to this section in any case where any person from whom the property had been acquired by a Government agency, gives notice in writing to the Recon- struction Finance Corporation that he intends to exercise his rights tat. 77. under section 23 of the Surplus Property Act, as amended. sou.s.c.app. (b) The Reconstruction Finance Corporation is further authorized 1 632- for the purpose of carrying out the objectives of this section to arrange for sales of surplus property to small business concerns on credit or time basis. (c) For the purposes of this section the t erm s "persons", "surplus proers"o";surplus property", and "Government agency" have the same meaning as is ment agency. assigned to such terms by section 3 of the Surplus Property Act of s50U. sC. app. 1944, as amended. 1612.ty to incur SEC. 209. During the period between June 30, 1947, and the date and pay administra- of enactment of legislation making funds available for administrative tie expenses. expenses for the fiscal year ending June 30, 1948, the Corporation is authorized to incur, and pay out of its general funds, administrative expenses in accordance with laws in effect on June 30, 1947, such obligations and expenditures to be charged against funds when made available for administrative expenses for the fiscal year 1948. SEC. 210. This Act shall take effect as of midnight June 30, 194. Efl ect ive date. Approved June 30, 1947. 95347°-48-pt. 1 - --14 209
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