; (ii) Hispanic or Latino; (iii) American Indian or Alaska Native; (iv) Asian; (v) Native Hawaiian or other Pacific Islander; or (vi) a member of a group that the Agency determines under part 1400 of title 15, Code of Federal Regulations, as in effect on November 23, 1984, is a socially disadvantaged group eligible to receive assistance. 30103. Minority Business Development Agency (a) Establishment The Minority Business Development Agency in the Department of Commerce is hereby established. (b) Assistant Secretary (1) Appointment and duties The Agency shall be headed by an Assistant Secretary of Commerce for Minority Business Development, who shall be— (A) appointed by the President, by and with the advice and consent of the Senate; and (B) except as otherwise expressly provided, responsible for the administration of this subtitle. (2) Compensation The Assistant Secretary shall be compensated at an annual rate of basic pay prescribed for level IV of the Executive Schedule under section 5315 of title 5, United States Code. (c) Report to Congress Not later than 120 days after the date of enactment of this Act, the Secretary shall submit to Congress a report that describes— (1) the organizational structure of the Agency; (2) the organizational position of the Agency in the Department of Commerce; and (3) a description of how the Agency shall function in relation to the operations carried out by each other component of the Department of Commerce. (d) Administrative powers and other powers of the Agency; miscellaneous provisions (1) In general In carrying out the duties and the responsibilities of the Agency, the Assistant Secretary may— (A) adopt and use a seal for the Agency, which shall be judicially noticed; (B) hold hearings, sit and act, and take testimony as the Assistant Secretary may determine to be necessary or appropriate; (C) acquire, in any lawful manner, any property that the Assistant Secretary may determine to be necessary or appropriate