and Exchange Commission

Securities and Exchange Commission salaries and expenses For necessary expenses for the Securities and Exchange Commission, including services as authorized by 5 U.S.C. 3109, the rental of space (to include multiple year leases) in the District of Columbia and elsewhere, and not to exceed $3,000 for official reception and representation expenses, $74,856,000, of which not to exceed $10,000 may be used toward funding a permanent secretariat for the International Organization of Securities Commis-108 STAT. 1740sions, and of which not to exceed $100,000 shall be available for expenses for consultations and meetings hosted by the Commission with foreign governmental and other regulatory officials, members of their delegations, appropriate representatives and staff to exchange views concerning developments relating to securities matters, development and implementation of cooperation agreements concerning securities matters and provision of technical assistance for the development of foreign securities markets, such expenses to include necessary logistic and administrative expenses and the expenses of Commission staff and foreign invitees in attendance at such consultations and meetings including: (i) such incidental expenses as meals taken in the course of such attendance, (ii) any travel or transportation to or from such meetings, and (iii) any other related lodging or subsistence: Provided, That of the budgetary resources available in fiscal year 1995 in this account, $902,000 are permanently canceled: Provided further, That amounts available for procurement and procurement-related expenses in this account are reduced by such amount: Provided further, That as used herein, “procurement” includes all stages of the process of acquiring property or services, beginning with the process of determining a need for a product or services and ending with contract completion and closeout, as specified in 41 U.S.C. 403(2). In addition, upon enactment of legislation amending the Investment Advisers Act of 1940 (15 U.S.C. 80b-l et seq.), and subject to the schedule of fees contained in such legislation, such fees may be collected and shall be deposited as an offsetting collection to this appropriation to recover the costs of registration, supervision, and regulation of investment advisers and their activities: Provided, That such fees shall remain available until expended: Provided further, That any such fees collected in excess of $8,595,000 shall not be available for obligation until October 1, 1995.