((a)) ** Waiver of restrictions** The President may waive the requirements of if the President determines and reports to the Congress that the Government of Cuba—
((1)) has held free and fair elections conducted under internationally recognized observers;
((2)) has permitted opposition parties ample time to organize and campaign for such elections, and has permitted full access to the media to all candidates in the elections;
((3)) is showing respect for the basic civil liberties and human rights of the citizens of Cuba;
((4)) is moving toward establishing a free market economic system; and
((5)) has committed itself to constitutional change that would ensure regular free and fair elections that meet the requirements of paragraph (2).
((b)) ** Policies** If the President makes a determination under subsection (a), the President shall take the following actions with respect to a Cuban Government elected pursuant to elections described in subsection (a):
((1)) To encourage the admission or reentry of such government to international organizations and international financial institutions.
((2)) To provide emergency relief during Cuba’s transition to a viable economic system.
((3)) To take steps to end the United States trade embargo of Cuba.