A bill requiring United States persons who conduct business or control enterprises in South Africa to comply with certain fair employment principles, prohibiting any new loans by United States financial or lending institutions to the South African Government or to South African corporations or other entities owned or controlled by the South African Government, and prohibiting the importation of South African krugerrands or other South African gold coins.

Title I: Labor Standards - Requires any United States person who has or controls an enterprise in South Africa which employs more than 20 people to insure that in operating such enterprise the following employment principles are implemented: (1) desegregation in any employment facility; (2) equal employment for all employees; (3) equal pay for equal work; (4) establishment of a minimum wage and salary structure; (5) increase in the representation of nonwhites in managerial, supervisory, administrative, clerical, and technical jobs; (6) improvement of the quality of employees' lives outside the work environment; and (7) recognition of labor unions and fair labor practices. Declares that the Secretary may issue guidelines and give advisory opinions on compliance with such principles.

Directs the Secretary of State to establish an Advisory Council in South Africa to advise the Secretary with respect to the implementation of such employment principles and to review the annual reports which each U.S. person covered by this Act must submit to the Secretary on the progress made in implementing such principles.

Directs the Secretary to establish in the United States an American Advisory Council to make policy recommendations regarding labor practices of U.S. persons in South Africa and to review such persons' progress in implementing such employment practices.

Directs the Secretary: (1) to take specified actions to insure compliance with the implementation of such employment principles; and (2) to review the compliance of such persons at least biennially. Sets forth penalties for noncompliance. Authorizes the President to waive compliance with the implementation of such principles if such compliance would harm U.S. national security.

Title II: Prohibition on Loans and Importation of Gold Coins - Prohibits any U.S. financial or lending institution from making any loan directly or through a foreign subsidiary to South Africa unless such loan is for educational, housing or health facilities available to all persons on a nondiscriminatory basis. Prohibits the importation of any gold coin minted in South Africa or sold by South Africa.

Directs the Secretary to take specified actions to enforce the prohibitions on loans and the importation of gold coins. Sets forth penalties for violations of such prohibitions. Authorizes the President to waive such prohibitions for one year if South Africa meets specified conditions.

Title III: General Provisions - Directs Federal agencies to cooperate with the Secretary in carrying out provisions of this Act.