(a) Any securities issued by
International Bank for Reconstruction and Development (including any
guaranty by the bank, whether or not limited in scope), and any securities
guaranteed by the bank as to both principal and interest, shall be
deemed to be exempted securities within the meaning of paragraph (a)(2)
of section 3 of the Act of May 27, 1933, as amended (U.S.C., title
15, sec. 77c), and paragraph (a)(12) of section 3 of the Act of June
6, 1934, as amended (U.S.C., title 15, sec. 78c). The bank shall file
with the Securities and Exchange Commission such annual and other
reports with regard to such securities as the Commission shall determine
to be appropriate in view of the special character of the bank and
its operations and necessary in the public interest or for the protection
of investors.
[22 USC 286k-1. As added by act of June 29, 1949 (63 Stat. 298) and
amended by act of Dec. 19, 1989 (103 Stat. 2518). Authority for the
Securities and Exchange Commission to suspend the provisions of this
section concerning securities issued or guaranteed by the bank is
contained in section 3 of the act of June 29, 1949 (63 Stat. 299,
22 USC 286k-2), which provides:
“The Securities and Exchange Commission acting in consultation
with the National Advisory Council on International Monetary and Financial
Problems is authorized to suspend the provisions of section 15(a)
of the Bretton Woods Agreements Act at any time as to any or all securities
issued or guaranteed by the bank during the period of such suspension.
The Commission shall include in its annual reports to Congress such
information as it shall deem advisable with regard to the operations
and effect of this Act and in connection therewith shall include any
views submitted for such purpose by any association of dealers registered
with the Commission.”]
