HR 3458 101th Congress House International Affairs Apartheid Blacks Democracy Finance and Financial Sector Foreign banks and banking Foreign investments Foreign loans Human rights International monetary system Military occupation Political persecution Political prisoners Political rights Repatriation Sanctions (International law) South Africa

South African Financial Sanctions Act of 1989

Introduced: October 12, 1989 See on congress.gov

Everywhere this bill has been 10 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 22, 1990

Subcommittee Hearings Held.

Feb 21, 1990

Subcommittee Hearings Held.

Oct 25, 1989

Referred to the Subcommittee on International Economic Policy and Trade.

Oct 25, 1989

Referred to the Subcommittee on Human Rights and International Organizations.

Oct 25, 1989

Referred to the Subcommittee on Africa.

Oct 16, 1989

Referred to the Subcommittee on International Development, Finance, Trade, and Monetary Policy.

Oct 12, 1989

Referred to the House Committee on Rules.

Oct 12, 1989

Referred to the House Committee on Banking, Finance + Urban Affrs.

Oct 12, 1989

Referred to the House Committee on Foreign Affairs.

Oct 12, 1989

Introduced in House

Plain-English summary Congressional Research Service

South African Financial Sanctions Act of 1989 - Amends the Comprehensive Anti-Apartheid Act of 1986 to expand the scope of definitions of "loan" and "United States national." Defines "depository institution" and "exit loan" for purposes of such Act.

Prohibits U.S. nationals from holding any exit loan after 1992.

Amends the Bretton Woods Agreement Act to require the President to instruct the U.S. Executive Director of the International Monetary Fund to vote against the use of Fund credit for any country practicing apartheid.

Amends the Comprehensive Anti-Apartheid Act of 1986 to prohibit U.S. depository institutions from: (1) accepting or holding deposit accounts from South African depository institutions; or (2) providing correspondent banking services to such institutions.

Prohibits disqualified depository institutions from being designated as depositaries or fiscal agents for Federal agencies within six months after this Act's enactment. Terminates designations of such institutions made before this Act's enactment at the end of such six-month period. Prohibits Federal agencies from obtaining any service from such institutions after such period.

Provides for the termination or modification of certain provisions under the Comprehensive Anti-Apartheid Act of 1986 if the Government of South Africa: (1) ends the state of emergency and all forms of political repression; (2) withdraws all military personnel from black townships; (3) frees all political prisoners unconditionally and permits exiles to return to South Africa; (4) permits former prisoners and exiles to participate in political activities without harassment or restrictions; (5) repeals bans or restrictions on political parties or organizations and allows such entities to function freely; and (6) commits to enter into negotiations with respect to, and demonstrates progress toward, achieving a nonracial, democratic form of government. Provides for the repeal of such provisions by joint resolution if such conditions are met.

What's happening now February 22, 1990

Subcommittee Hearings Held.

Committees of jurisdiction 7