Proclamation 3510—Effective Date of Section 2 of Public Law 87-550

Whereas the provisions of Section 2 of the Act of July 25, 1962 (being "An Act to amend the Small Business Act"; Public Law 87-550; 76 Stat. 220) empower the Small Business Administration subject to certain conditions, to make loans to assist any firm to adjust to changed economic conditions resulting from increased competition from imported articles; and

Whereas subsection (d) of that Section 2 provides as follows:

"(d) This section shall take effect on such date (on or after the enactment of the Trade Expansion Act of 1962) as the President may specify in a proclamation duly published in the FEDERAL REGISTER but in no case later than 60 days after the date of the enactment of such Act."; and

Whereas the Trade Expansion Act of 1962 was approved on October 11, 1962 (Public Law 87-794; 76 Stat. 872):

Now, Therefore, I, John F. Kennedy, President of the United States of America, under and by virtue of the authority vested in me by the provisions of the above-quoted subsection (d), do specify December 10, 1962, as the effective date of the aforesaid Section 2 of the Act of July 25, 1962, and do direct that this proclamation be published in the FEDERAL REGISTER.

In Witness Whereof, I have hereunto set my hand and caused the Seal of the United States of America to be affixed.

DONE at the city of Washington this fourth day of December in the year of our Lord nineteen hundred and sixty-two, and of the independence of the United States of America the one hundred and eighty-seventh.

JOHN F. KENNEDY

By the President:

DEAN RUSK,

Secretary of State