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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
6/23/1978--Introduced. Directs the President to issue regulations prohibiting any United States person from making any investment in South Africa until the President determines that the Government of South Africa has made substantial progress toward ending discrimination and achieving full participation of all the people of South Africa in the country's social, political, and economic life. Permits Congress, through adoption of a resolution by both Houses, to disapprove such a Presidential determination. Sets for civil and criminal penalties for violations of this Act and regulations issued thereunder.