Limitation of shareholding benefitting the State Security and Peace Commission

(a) In general The Secretary of the Treasury shall instruct the United States Executive Director at the International Monetary Fund to use the voice and vote of the United States, when assessing potential changes to any shareholding formula in connection with a governance review of the Fund, to limit, as appropriate, an increase to the shareholding of Burma if the country is subject to the rule of the State Security and Peace Commission or any successor governing authority. (b) Waiver The President of the United States may waive the application of subsection (a) upon certifying to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that the waiver is important to the national interest of the United States, with a detailed explanation of the reasons therefor.