Flexibility with respect to certain Arms Export control Act and other arms transfer requirements

Section 38(l) of the Arms Export Control Act (22 U.S.C. 2778(l)) is amended by adding at the end the following new paragraph: (8) Exemption from certain requirements (A) In general Defense articles sold by the United States under this Act, whether pursuant to the exemption authorized under this section or identical to defense articles eligible for export under that exemption, may be reexported, retransferred or temporarily imported exclusively between the Government of Australia, the Government of the United Kingdom, or entities eligible under section 126.7(b)(2) of title 22 of the Code of Federal Regulations, or successor regulations, notwithstanding the requirement for the consent of the President under section 3(a)(2) of this Act, or under section 505(a)(1) of the Foreign Assistance Act of 1961 (22 U.S.C. 2314(a)(1)(B). (B) Intra-company, intra-organizational, and intra-governmental transfers Intra-company, intra-organization, and intra-governmental transfers related to defense articles and defense services described under subparagraph (A) are authorized between officers, employees, and agents who satisfy section 120.64 of title 22 of the Code of Federal Regulations, or successor regulations, including dual or third country nationals who satisfy section 126.18 of title 22 of the Code of Federal Regulations, or successor regulations..