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F E D E R A L R E S E R V E BAN K O F D A LLA S F IS C A L A G E N T O F T H E U N ITE D ST A T E S Dallas, Texas, August 31,1966 To the Chief Executive Officer of the Tax and Loan Depositary Addressed: There are enclosed copies of (1) Executive Order 11246, (2) a letter addressed to you by Mr. Henry H. Fowler, Secretary of the Treasury and (3) the Fourteenth Amendment to Treasury Department Circular No. 92 (Revised). The enclosures concern a ruling that government deposits with banks constitute contracts covered by Executive Order 11246, which requires that contractors with the government not discriminate against employees or applicants for employment because of race, color, creed or national origin. Banks that maintain Treasury Tax and Loan Accounts are being made subject to the Executive Order by the amendment to Department Circular No. 92. Additional copies of the enclosures will be furnished on request. Yours very truly, Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Presidential Documents Title 3— THE PRESIDENT Executive Order 11246 EQUAL EM PLOYM ENT OPPORTUNITY Under and by virtue of the authority vested in me as President of the United States by the Constitution and statutes o f the United States, it is ordered as follow s: P a r t I — N o n d is c r im in a t io n in G overnment E m ploym ent S e c t io n 101. It is the policy of the Government o f the United States to provide equal opportunity in Federal employment for all qualified persons, to prohibit discrimination in employment because of race, creed, color, or national origin, and to promote the full realization of equal employment opportunity through a positive, con tinuing program in each executive department and agency. The policy of equal opportunity applies to every aspect of Federal employment policy and practice. S ec. 102. The head of each executive department and agency shall establish and maintain a positive program o f equal employment opportunity for all civilian employees and applicants for employment within his jurisdiction in accordance with the policy set forth in Section 101. S ec. 103. The Civil Service Commission shall supervise and provide leadership and guidance in the conduct of equal employment op portunity programs for the civilian employees o f and applications for employment within the executive departments and agencies and shall review agency program accomplishments periodically. In order to facilitate the achievement of a model program for equal employ ment opportunity in the Federal service, the Commission may consult from time to time with such individuals, groups, or organizations as may be o f assistance in improving the Federal program and realizing the objectives of this Part. S ec. 104. The Civil Service Commission shall provide for the prompt, fair, and impartial consideration of all complaints of dis crimination in Federal employment on the basis o f race, creed, color, or national origin. Procedures for the consideration of complaints shall include at least one impartial review within the executive de partment or agency and shall provide for appeal to the Civil Service Commission. S ec. 105. The Civil Service Commission shall issue such regula tions, orders, and instructions as it deems necessary and appropriate to carry out its responsibilities under this Part, and the head of each executive department and agency shall comply with the regulations, orders, and instructions issued by the Commission under this Part. P art I I — N o n d is c r im in a t io n C ontractors in and E m plo ym en t b y G overnm ent S u bcontractors S U B P A R T A — D U T IE S O F T H E S E C R E T A R Y O F L A B O R S ec. 201. The Secretary of Labor shall be responsible for the ad ministration o f Parts I I and I I I of this Order and shall adopt such rules and regulations and issue such orders as he deems necessary and appropriate to achieve the purposes thereof. 12320 THE PRESID EN T S U M 'A R T 15 CON TRACTORS’ A G R EE M E N TS S ec. 202. Except in contracts exempted in accordance with Section 204 of this Order, all Government contracting- agencies shall include in every Government contract hereafter entered into the following provisions: “ During the performance of this contract, the contractor agrees as fo llo w s : “ (1) The contractor w ill not discriminate against any employee or applicant for employment because of race, creed, color, or national origin. The contractor w ill take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, creed, color, or national origin. Such action shall include, but not be limited to the follow in g : employment, upgrading, demotion, or tran sfer; recruitment or re cruitment advertising; layoff or term ination; rates o f pay or other forms of com pensation; and selection for training, including apprenticeship. The con tractor agrees to post in conspicuous places, available to employees and applicants for employment, notices to he provided by the contracting officer setting forth the provisions of this nondiscrimination clause. “ (2) The contractor will, in all solicitations or advertisements for employees placed by or on behalf of the contractor, state that all qualified applicants will receive consideration for employment without regard to race, creed, color, or national origin. “ (3) The contractor w ill send to each labor union or representative of workers with which he has a collective bargaining agreement or other contract or under standing, a notice, to be provided by the agency contracting officer, advising the labor union or workers’ representative o f the contractor’s commitments under Section 202 o f Executive Order No. 11246 o f September 24, 1965, and shall post copies of the notice in conspicuous places available to employees and applicants for employment. “ (4 ) The contractor w ill comply with all provisions of Executive Order No. 11246 of Sept. 24, 1965, and o f the rules, regulations, and relevant orders o f the Secretary o f Labor. “ (5) The contractor will furnish all information and reports required by Executive Order No. 11246 of September 24, 1965, and by the rules, regulations, and orders of the Secretary of Labor, or pursuant thereto, and w ill permit access to his books, records, and accounts by the contracting agency and the Secretary o f Labor for purposes o f investigation to ascertain compliance with such rules, regulations, and orders. “ (6) In the event o f the contractor’s noncompliance with the nondiscrimination clauses o f this contract or with any o f such rules, regulations, or orders, this contract may be cancelled, terminated or suspended in whole or in part and the contractor may be declared ineligible fo r further Government contracts in accordance with procedures authorized in Executive Order No. 11246 o f Sept. 24, 1965, and such other sanctions may be imposed and remedies involved as provided in Executive Order No. 11246 o f September 24, 1965, or by rule, regula tion, oi order o f the Secretary o f Labor, or as otherwise provided by law. “ (7) The contractor w ill include the provisions o f Paragraphs (1) through (7) in every subcontract or purchase order unless exempted by rules, regulations, or orders o f the Secretary o f Labor issued pursuant to Section 204 o f Executive Order No. 11246 o f Sept. 24, 1965, so that such provisions will be binding upon each subcontractor or vendor. The contractor w ill take such action with respect to any subcontract or purchase order as the contracting agency may direct as a means o f enforcing such provisions including sanctions for noncompliance: Provided, however. That in the event the contractor becomes involved in, or is threatened with, litigation with a subcontractor or vendor as a result o f such direction by the contracting agency, the contractor may request the United States to enter into such litigation to protect the interests o f the United States.” S ec. 203. (a) Each contractor having a contract containing the pro visions prescribed in Section 202 shall file, and shall cause each o f his subcontractors to file, Compliance Reports with the contracting agency or the Secretary of Labor as may be directed. Compliance Reports shall be filed within such times and shall contain such information as to the practices, policies, programs, and employment policies, pro grams, and employment statistics of the contractor and each sub contractor, and shall be in such form, as the Secretary of Labor may prescribe. (b) Bidders or prospective contractors or subcontractors may be required to state whether they have participated in any previous con tract subject to the provisions of this Order, or any preceding similar Executive order, and in that event to submit, on behalf of themselves and their proposed subcontractors, Compliance Reports prior to or as an initial part o f their bid or negotiation o f a contract. (c) Whenever the contractor or subcontractor has a collective bar gaining agreement or other contract or understanding with a labor union or an agency referring workers or providing or supervising Tuesday, September 28, 1965 FED ER A L R EG IST ER apprenticeship or training for such workers, the Compliance Report shall include such information as to such labor union’s or agency’s practices and policies affecting compliance as the Secretary of Labor may prescribe: Provided, That to the extent such information is within the exclusive possession of a labor union or an agency referring workers or providing or supervising apprenticeship or training and such labor union or agency shall refuse to furnish such information to the con tractor, the contractor shall so certify to the contracting agency as part of its Compliance Report and shall set forth what efforts lie has made to obtain such information. (d) The contracting agency or the Secretary of Labor may direct that any bidder or prospective contractor or subcontractor shall sub mit, as part of his Compliance Report, a statement in writing, signed by an authorized officer or agent on behalf of any labor union or any agency referring workers or providing or supervising apprenticeship or other training, with which the bidder or prospective contractor deals, with supporting information, to the effect that the signer’s practices and policies do not discriminate on the grounds of race, color, creed, or national origin, and that the signer either will affirma tively cooperate in the implementation of the policy and provisions of this Order or that it consents and agrees that recruitment, employ ment, and the terms and conditions of employment under the pro posed contract shall be in accordance with the purposes and provisions o f the Order. In the event that the union, or the agency shall refuse to execute such a statement, the Compliance Report shall so certify and set forth what efforts have been made to secure such a statement and such additional factual material as the contracting agency or the Secretary of Labor may require. Sec. 204. The Secretary o f Labor may, when he deems that special circumstances in the national interest so require, exempt a contracting agency from the requirement of including any or all o f the provisions o f Section 202 of this Order in any specific contract, subcontract, or purchase order. The Secretary of Labor may, by rule or regula tion, also exempt certain classes o f contracts, subcontracts, or pur chase orders (1) whenever work is to be or has been performed outside the United States and no recruitment of workers within the limits of the United States is involved; (2) for standard commercial sup plies or raw materials; (3) involving less than specified amounts of money or specified numbers of workers; or (4) to the extent that they involve subcontracts below a specified tier. The Secretary of Labor may also provide, by rule, regulation, or order, for the exemption of facilities of a contractor which are in all respects separate and distinct from activities of the contractor related to the performance of the contract: Provided, That such an exemption will not interfere with or impede the effectuation of the purposes of this Order: And provided further, That in the absence of such an exemption all facili ties shall be covered by the provisions of this Order. STJBPART C— P O W E R S A N D D U T IE S O F T H E S E C R E T A R Y O F L A B O R A N D T H E C O N T R A C T IN G A G E N C IE S S ec. 205. Each contracting agency shall be primarily responsible for obtaining compliance with the rules, regulations, and orders of the Secretary of Labor with respect to contracts entered into by such agency or its contractors. All contracting agencies shall comply with the rules of the Secretary of Labor in discharging their primary responsibility for securing compliance with the provisions o f con tracts and otherwise with the terms of this Order and of the rules, regulations, and orders of the Secretary of Labor issued pursuant to this Order. They are directed to cooperate with the Secretary of Labor and to furnish the Secretary of Labor such information and assistance as he may require in the performance o f his functions under this Order. They are further directed to appoint or designate, from among the agency’s personnel, compliance officers. It sball be the duty of such officers to seek compliance with the objectives of this Order by conference, conciliation, mediation, or persuasion. S ec.- 206. (a) The Secretary of Labor may investigate the em ployment practices of any Government contractor or subcontractor, 12321 12322 THE PR ESID EN T or initiate such investigation by the appropriate contracting agency, to determine whether or not the contractual provisions specified in Section 202 of this Order have been violated. Such investigation shall be conducted in accordance with the procedures established by the Secretary of Labor and the investigating agency shall report to the Secretary of Labor any action taken or recommended. (b) The Secretay of Labor may receive and investigate or cause to be investigated complaints by employees or prospective employees of a Government contractor or subcontractor which allege discrimina tion contrary to the contractual provisions specified in Section 202 of this Order. I f this investigation is conducted for the Secretary of Labor by a contracting agency, that agency shall report to the Secretary what action has been taken or is recommended with regard to such complaints. S ec. 207. The Secretary of Labor shall use his best efforts, directly and through contracting agencies, other interested Federal, State, and local agencies, contractors, and all other available instrumentalities to cause any labor union engaged in work under Government contracts or any agency referring workers or providing or supervising appren ticeship or training for or in the course of such work to cooperate in the implementation of the purposes of this Order. The Secretary of Labor shall, in appropriate cases, notify the Equal Employment Opportunity Commission, the Department o f Justice, or other appro priate Federal agencies whenever it has reason to believe that the practices o f any such labor organization or agency violate Title V I or Title V II o f the Civil Rights Act of 1964 or other provision of Fed eral law. S ec. 208. (a) The Secretary of Labor, or any agency, officer, or employee in the executive branch of the Government designated by rule, regulation, or order of the Secretary, may hold such hearings, public or private, as the Secretary may deem advisable for compliance, enforcement, or educational purposes. (b) The Secretary of Labor may hold, or cause to be held, hearings in accordance with Subsection (a) o f this Section prior to imposing, ordering, or recommending the imposition of penalties and sanctions under this Order. No order for debarment of any contractor from further Government contracts under Section 209(a) (6) shall be made without affording the contractor an opportunity for a hearing. SUBPART D S A N C T IO N S A N D P E N A L T IE S S ec. 209. (a) In accordance with such rules, regulations, or orders as the Secretary o f Labor may issue or adopt, the Secretary or the appropriate contracting agency may: (1) Publish, or cause to be published, the names of contractors or unions which it has concluded nave complied or have failed to comply with the provisions of this Order or of the rules, regulations, and orders of the Secretary of Labor. (2) Recommend to the Department of Justice that, in cases in which there is substantial or material violation or the threat of sub stantial or material violation of'the contractual provisions set forth in Section 202 of this Order, appropriate proceedings be brought to enforce those provisions, including the enjoining, within the limita tions of applicable law, of organizations, individuals, or groups who prevent directly or indirectly, or seek to prevent directly or indirectly, compliance with the provisions of this Order. (3) Recommend to the Equal Employment Opportunity Commis sion or the Department of Justice that appropriate proceedings be instituted under Title V II of the Civil Rights Act of 1964. (4) Recommend to the Department of Justice that criminal pro ceedings be brought for the furnishing of false information to any con tracting agency or to the Secretary of Labor as the case may be. (5) Cancel, terminate, suspend, or cause to be cancelled, terminated, or suspended, any contract, or any portion or portions thereof, for failure of the contractor or subcontractor to comply with the non Tuesday, September 28, 1965 FED ERA L R EG IST ER discrimination provisions of the contract. Contracts may be cancelled, terminated, or suspended absolutely or continuance of contracts may be conditioned upon a program for future compliance approved by the contracting agency. (6) Provide that any contracting agency shall refrain from enter ing into further contracts, or extensions or other modifications of existing contracts, with any noncomplying contractor, until such con tractor has satisfied the Secretary of Labor that such contractor has established and will carry out personnel and employment policies in compliance with the provisions of this Order. (b) Under rules and regulations prescribed by the Secretary of Labor, each contracting agency shall make reasonable efforts within a reasonable time limitation to secure compliance with the contract provisions of this Order by methods of conference, conciliation, medi ation, and persuasion before proceedings shall be instituted under Subsection (a) (2) of this Section, or before a contract shall be can celled or terminated in whole or in part under Subsection (a) (5) of this Section for failure of a contractor or subcontractor to comply with the contract provisions of this Order. S e c . 2 1 0 . Any contracting agency taking any action authorized b y this Subpart, whether on its own motion, or as directed by the Secre tary of Labor, or under the rules and regulations of the Secretary, shall promptly notify the Secretary of such action. Whenever the Secretary of Labor makes a determination under this Sect ion, he shall promptly notify the appropriate contracting agency of the action recommended. The agency shall take such action and shall report the results thereof to the Secretary o f Labor within such time as the Secretary shall specify. S ec. 211. I f the Secretary shall so direct, contracting agencies shall not enter into contracts with any bidder or prospective contractor unless the bidder or prospective contractor has satisfactorily complied with the provisions of this Order or submits a program for compliance acceptable to the Secretary of Labor or, if the Secretary so authorizes, to the contracting agency. S e c . 212. Whenever a contracting agency cancels or lermimdes a contract, or whenever a contractor has been debarred from further Government contracts, under Section 209(a)(6) because of noncom pliance with the contract provisions with regard to nondiscrimination, the Secretary of Labor, or the contracting agency involved, shall promptly notify the Comptroller General of the United States. Any such debarment may be rescinded by the Secretary of Labor or by the contracting agency which imposed the sanction. S U B F A R T K— C E R T IF IC A T E S O F M E R IT S ec. 213. The Secretary of Labor may provide for issuance of a United States Government Certificate of Merit to employers or labor unions, or other agencies which are or may hereafter be engaged in work under Government contracts, if the Secretary is satisfied that the personnel and employment practices of the employer, or that the personnel, training, apprenticeship, membership, grievance and rep resentation, upgrading, and other practices and policies o f the labor union or other agency conform to the purposes and provisions of Ibis Order. S ec. 214. Any Certificate of Merit may at any time be suspended or revoked by the Secretary of Labor if the holder thereof, in the judgment o f the Secretary, has failed to comply with the provisions of this Order. S ec. 215. The Secretary of Labor may provide for the exemption of any employer, labor union, or other agency from any reporting requirements imposed under or pursuant to this Order if such em ployer, labor union, or other agency has been awarded a Certificate o f Blent which has not been suspended or revoked. No. 187 a 12323 12324 THE PR ESID EN T P art I I I —N o n d i s c r i m i n a t i o n P r o v is io n s i n F e d e r a l l y A C o n s t r u c t io n C o n t r a c t s ssisted S ec. 301. Each executive department and agency which adminis ters a program involving Federal financial assistance shall require as a condition for the approval of any grant, contract, loan, insurance, or guarantee thereunder, which may involve a construction contract, that the applicant for Federal assistance undertake and agree to incorporate, or cause to be incorporated, into all construction contracts paid for in whole or in part with funds obtained from the Federal Government or borrowed on the credit of the Federal Government pursuant to such grant, contract, loan, insurance, or guarantee, or undertaken pursuant to any Federal program involving such grant, contract, loan, insurance, or guarantee, the provisions prescribed for Government contracts by Section 203 of this Order or such modification thereof, preserving in substance the contractor’s obligations there under, as may be approved by the Secretary of Labor, together with such additional provisions as the Secretary deems appropriate to establish and protect the interest of the United States in the enforce ment of those obligations. Each such applicant shall also undertake and agree (1) to assist and cooperate actively with the administering department or agency and the Secretary o f Labor in obtaining the compliance o f contractors and subcontractors with those contract provisions and with the rules, regulations, and relevant orders of the Secretary, (2) to obtain and to furnish to the administering depart ment or agency and to the Secretary of Labor such information as they may require for the supervision of such compliance, (3) to carry out sanctions and penalties for violation of such obligations imposed upon contractors and subcontractors by the Secretary of Labor or the ad ministering department or agency pursuant to Part II, Subpart D, of this Order, and (4) to refrain from entering into any contract subject to this Order, or extension or other modification of such a contract with a contractor debarred from Government contracts under Part II, Subpart D, of this Order. S ec. 302. (a) “ Construction contract” as used in this Order means any contract for the construction, rehabilitation, alteration, conver sion, extension, or repair of buildings, highways, or other improve ments to real property. (b) The provisions of Part II of this Order shall apply to such construction contracts, and for purposes of such application the ad ministering department or agency shall be considered the contracting agency referred to therein. (c) The term “ applicant” as used in this Order means an applicant for Federal assistance or, as determined by agency regulation, other program participant, with respect to whom an application for any grant, contract, loan, insurance, or guarantee is not finally acted upon prior to the effective date of this Part, and it includes such an applicant after he becomes a recipient of such Federal assistance. S ec. 303. (a) Each administering department and agency shall be responsible for obtaining the compliance of such applicants with their undertakings under this Order. Each administering depart ment and agency is directed to cooperate with the Secretary of Labor, and to furnish the Secretary such information and assistance as he may require in the performance of his functions under this Order. (b) In the event an applicant fails and refuses to comply with his undertakings, the administering department or agency may take any or all of the following actions: (1) cancel, terminate, or suspend in whole or in part the agreement, contract, or other arrangement with such applicant with respect to which the failure and refusal occurred; (2) refrain from extending any further assistance to the applicant under the program with respect to which the failure or refusal occurred until satisfactory assurance of future compliance has been received from Such applicant; and (3) refer the case to the Depart ment o f Justice for appropriate legal proceedings. Tuesday, September 28, 1965 12325 FED ERA L REG IST ER (c) Any action with respect to an applicant pursuant to Subsection (b) shall be taken in conformity with Section 602 o f the Civil Rights Act of 1964 (and the regulations of the administering department or agency issued thereunder), to the extent applicable. In no case shall action be taken with respect to an applicant pursuant to Clause (1) or (2) of Subsection (b) without notice and opportunity for hearing before the administering department or agency. S e c . 304. Any executive department or agency which imposes by rule, regulation, or order requirements of nondiscrimination in em ployment, other than requirements imposed pursuant to this Order, may delegate to the Secretary of Labor by agreement such responsibili ties with respect to compliance standards, reports, and procedures as would tend to bring the administration of such requirements into con formity with the administration of requirements imposed under this Order: Provided, That actions to effect compliance by recipients of Federal financial assistance with requirements imposed pursuant to Title V I o f the Civil Rights Act of 1964 shall be taken in conformity with the procedures and limitations prescribed in Section 602 thereof and the regulations of the administering department or agency issued thereunder. P a r t IV — M is c e l l a n e o u s S e c . 401. The Secretary o f Labor may delegate to any officer, agency, or employee in the Executive branch of the Government, any function or duty of the Secretary under Parts II and I I I of this Order, except authority to promulgate rules and regulations of a general nature. S ec. 402. The Secretary of Labor shall provide administrative support for the execution of the program known as the “ Plans for Progress.” S ec. 403. (a) Executive Orders Nos. 10590 (January 19, 1955), 10722 (August 5,1957), 10925 (March 6,1961), 11114 (June 22,1963), and 11162 (July 28,1964), are hereby superseded and the President’s Committee on Equal Employment Opportunity established by Ex ecutive Order No. 10925 is hereby abolished. All records and property in the custody of the Committee shall be transferred to the Civil Service. Commission and the Secretary of Labor, as appropriate. (b) Nothing in this Order shall be deemed to relieve any person of any obligation assumed or imposed under or pursuant to any Execu tive Order superseded by this Order. All rules, regulations, orders, instructions, designations, and other directives issued by the Presi dent’s Committee on Equal Employment Opportunity and those issued by the heads of various departments or agencies under or pursuant, to any of the Executive orders superseded by this Order, shall, to the extent that they are not inconsistent with this Order, remain in full force and effect unless and until revoked or superseded by appropriate authority. References in such directives to provisions of the super seded orders shall be deemed to be references to the comparable provi sions of this Order. Sec. 404. The General Services Administration shall take appropri ate action to revise the standard Government contract forms to accord with the provisions of this Order and of the rules and regulations of the Secretary of Labor. Sec. 405. This Order shall become effective "thirty days after the date of this Order. L v ndon B . J ohn son T he W h it e H ouse, September 1965. tF.R. Doc. 65-10340; Filed, Sept. 24, 1965; 4 : 1 8 p.m.] TH E SECRETARY OF THE TREASURY W A SH IN G T O N AUG 2 5 1966 To the Chief Executive Officer of the Bank Addressed: I am taking this means of informing you, as chief executive officer of a Government depositary, of an important determination that affects your bank. The United States Department of Justice has ruled that Government deposits with banks constitute contracts covered by Executive Order 11246, which prohibits dis crimination by Government contractors against employees or applicants for employment because of race, color, creed or national origin. A copy of this Executive Order is attached. Regulations governing compliance with the Order may be found in Title 41, CFR, Chapter 60. Accordingly, Government depositaries are being made subject to the Order by an amendment to the depositary regulations which provides that acceptance of a Government deposit after November 30, 1966, will make the require ments of the Order a part of the contract with the bank. A copy of the amendment to the regulations is also attached. I know I can count on the banking community to make positive efforts to accomplish the purposes of the President's Executive Order. Sincerely yours, Henry H. Fowler Attachments SPECIAL DEPOSITS OF PUBLIC MONEYS UNDER THE ACT OF CONGRESS APPROVED SEPTEMBER 1917, AS AMENDED (SECOND LIBERTY BOND ACT, AS AMENDED) 2k, 1966 Department Circular No* 92 (Revised) Fourteenth Amendment TREASURY DEPARTMENT OFFICE OF THE SECRETARY Washington, D. C* August 25, 1966 Fiscal Service Bureau of Accounts To Federal Reserve Banks and other incorporated hanks and trust companies in the United States (including the District of Columbia), Puerto Rico, the Virgin Islands, and the Panama Canal Zone* Department Circular 92 (Revised), dated November 10, 19^9, as amended, is hereby further amended, as follows: 1* By changing paragraph 1 to read, as follows: "All incorporated banks and trust companies in the United States (including the District of Columbia), Puerto Rico, Virgin Islands, and the Panama Canal Zone are hereby designated, subject to qualification in accordance with the provisions of this Circular, and subject to acceptance of a contract of deposit with the Treasury Department, as provided in paragraph i;, as Special Depositaries for receiving deposits of public moneys as authorized by the Act of Congress, approved September 2k, 1917, as amended (Second Liberty Bond Act, as amended), referred to in this Circular as the act: Provided, That no bank or trust company shall perform any of the acts covered by this designation until it has qualified so to act in the manner herein prescribed* " 2* By adding following paragraph 3 a new paragraph U, as follows: A Special Depositary which accepts a deposit under this Circular enters into a contract of deposit with the Treasury Department* The terms of the contract include all the provisions of this Circular and, in the case of a contract entered into by acceptance of a deposit after November 30, 1966, the provisions prescribed in section 202 of Executive Order 112)46 entitled, *Equal Employment Opportunity,' 30 F.R* 12319* Thereupon the depositary contractor shall be subject to the provisions of Part II of that Order," 3* By renumbering the present paragraph U as 5 and all subsequent paragraphs consecutively* FISCAL ASSISTANT SECRETARY