miscellaneous provisions

miscellaneous provisions Sec. 123. Section 504 of the Federal Salary Reform Act of 1962 (76 Stat. 842; 5 U.S.C. 1173) is amended by adding at the end thereof the following new subsection: “(d) The rate of basic compensation, established under this section, and received by any officer or employee immediately prior to the effective date of a statutory increase in the compensation schedules of the salary systems specified in subsection (a) shall be initially adjusted on the effective date of such new compensation schedules in accordance with conversion rules and regulations prescribed by the President, or by such agency or agencies as he may designate.”