No other corporation can take advantage of the exception. and no loophole is created. The amendment would allow the corporation to be in compliance with the law (section 2 of the Shipping Act. 1916 (46 U.S.C. 802)) from the time the subject president assumed office until the president is granted the citizenship for which he has filed his declared intention. but in no event will the exceptional rights granted this corporation extend beyond March 1. 1987. The 1987 date was selected based upon our understanding of the time being consumed by the Immigration and Naturalization Service to process applications. Madam Speaker. all of the provisions of this bill are worthy of favorable consideration by the Members of this House but I am especially concerned that this legislation receive immediate approval because of the detrimental impact on American fishermen that would result if the fishery agreements with foreign governments were permitted to expireas they will do tomorrow without our favorable action. Joint ventures carried out under these agreements permit our fishermen to sell their catches directly to foreign processing vessels and to reap a good profit.
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Naturalization Immigration