§ 2197.
General provisions relating to insurance, guaranty, financing, and reinsurance programs
(a)
to (f). Repealed. [Pub. L. 115–254, div. F, title VI, § 1464(2)], Oct. 5, 2018, [132 Stat. 3513]
(h)
to (k) Repealed. [Pub. L. 115–254, div. F, title VI, § 1464(2)], Oct. 5, 2018, [132 Stat. 3513]
(l)
Convictions under Foreign Corrupt Practices Act of 1977; prohibition on payments for losses resulting from unlawful activities; suspension from eligibility of receipt of financial support
(1)
No payment may be made under any insurance or reinsurance which is issued under this subpart on or after April 24, 1978, for any loss occurring with respect to a project, if the preponderant cause of such loss was an act by the investor seeking payment under this subpart, by a person possessing majority ownership and control of the investor at the time of the act, or by any agent of such investor or controlling person, and a court of the United States has entered a final judgment that such act constituted a violation under the Foreign Corrupt Practices Act of 1977.
(2)
Not later than 120 days after April 24, 1978, the Corporation shall adopt regulations setting forth appropriate conditions under which any person convicted under the Foreign Corrupt Practices Act of 1977 for an offense related to a project insured or otherwise supported by the Corporation shall be suspended, for a period of not more than five years, from eligibility to receive any insurance, reinsurance, guaranty, loan, or other financial support authorized by this subpart.
(m)
Notification of countries of environmental restrictions on certain activities
(1)
Before finally providing insurance, reinsurance, guarantees, or financing under this subpart for any environmentally sensitive investment in connection with a project in a country, the Corporation shall notify appropriate government officials of that country of—
(A)
all guidelines and other standards adopted by the International Bank for Reconstruction and Development and any other international organization relating to the public health or safety or the environment which are applicable to the project; and
(B)
to the maximum extent practicable, any restriction under any law of the United States relating to public health or safety or the environment that would apply to the project if the project were undertaken in the United States.
The notification under the preceding sentence shall include a summary of the guidelines, standards, and restrictions referred to in subparagraphs (A) and (B), and may include any environmental impact statement, assessment, review, or study prepared with respect to the investment pursuant to section 2199(g)
1
See References in Text note below.
of this title.
(2)
Before finally providing insurance, reinsurance, guarantees, or financing for any investment subject to paragraph (1), the Corporation shall take into account any comments it receives on the project involved.
(3)
On or before September 30, 1986, the Corporation shall notify appropriate government officials of a country of the guidelines, standards, and legal restrictions described in paragraph (1) that apply to any project in that country—
(A)
which the Corporation identifies as potentially posing major hazards to public health and safety or the environment; and
(B)
for which the Corporation provided insurance, reinsurance, guarantees, or financing under this subpart before December 23, 1985, and which is in the Corporation’s portfolio on that date.
([Pub. L. 87–195], pt. I, § 237, as added [Pub. L. 91–175], pt. I, § 105, Dec. 30, 1969, [83 Stat. 814]; amended [Pub. L. 93–390, § 2(4)], Aug. 27, 1974, [88 Stat. 767]; [Pub. L. 95–268], §§ 5, 6, Apr. 24, 1978, [92 Stat. 215]; [Pub. L. 97–65, § 6], Oct. 16, 1981, [95 Stat. 1023]; [Pub. L. 99–204], §§ 4(b), 6(b), 9(b)(2), Dec. 23, 1985, [99 Stat. 1670], 1671, 1673; [Pub. L. 100–461, title V, § 555], Oct. 1, 1988, [102 Stat. 2268–36]; [Pub. L. 102–549, title I, § 105], Oct. 28, 1992, [106 Stat. 3652]; [Pub. L. 115–254, div. F, title VI, § 1464(2)], Oct. 5, 2018, [132 Stat. 3513].)