Page:United States Statutes at Large Volume 109 Part 1.djvu/913

 PUBLIC LAW 104-88 —DEC. 29, 1995 109 STAT. 897 section without the approval of any other Federal, State, or municipal body. A carrier participating in an approved or exempted arrangement is exempt from the antitrust laws and from all other law, including State and municipal law, as necessary to let that person carry out the arrangement. "(g) CONTINUATION OF EXISTING AGREEMENTS.—Any agreements in operation under the provisions of this title on the effective date of this section that are succeeded by this section shall remain in effect until further order of the Board. "(h) DEFINITIONS.— In this section, the following definitions apply: "(1) HOUSEHOLD GOODS.— The term 'household goods' has the meaning such term had under section 10102(11) of this title, as in effect on the day before the effective date of this section. "(2) TRANSPORTATION.— The term 'transportation' means transportation that would be subject to the jurisdiction of the Interstate Commerce Commission under subchapter II of chapter 105 of this title, as in effect on the day before such effective date, if such subchapter were still in effect. "§ 14303. Consolidation, merger, and acquisition of control of motor carriers of passengers "(a) APPROVAL REQUIRED. —The following transactions involving motor carriers of passengers subject to jurisdiction under subchapter I of chapter 135 may be carried out only with the approval of the Board: "(1) Consolidation or merger of the properties or franchises of at least 2 carriers into one operation for the ownership, management, and operation of the previously separately owned properties. "(2) A purchase, lease, or contract to operate property of another carrier by any number of carriers. "(3) Acquisition of control of a carrier by any number of carriers. "(4) Acquisition of control of at least 2 carriers by a person that is not a carrier. "(5) Acquisition of control of a carrier by a person that is not a carrier but that controls any number of carriers. "(b) STANDARD FOR APPROVAL. — The Board shall approve and authorize a transaction under this section when it finds the transaction is consistent with the public interest. The Board shall consider at least the following: "(1) The effect of the proposed transaction on the adequacy of transportation to the public. "(2) The total fixed charges that result from the proposed transaction. "(3) The interest of carrier employees affected by the proposed transaction. The Board may impose conditions governing the transaction. "(c) DETERMINATION OF COMPLETENESS OF APPLICATION.— Federal Register, Within 30 days after the date on which an application is filed publication, under this section, the Board shall either publish a notice of the application in the Federal Register or reject the application if it is incomplete.

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