Page:United States Statutes at Large Volume 121.djvu/273

 121 STAT. 252

PUBLIC LAW 110–49—JULY 26, 2007 ‘‘(6) NOTICE OF RESULTS TO PARTIES.—The Committee shall notify the parties to a covered transaction of the results of a review or investigation under this section, promptly upon completion of all action under this section. ‘‘(7) REGULATIONS.—Regulations prescribed under this section shall include standard procedures for— ‘‘(A) submitting any notice of a covered transaction to the Committee; ‘‘(B) submitting a request to withdraw a covered transaction from review; ‘‘(C) resubmitting a notice of a covered transaction that was previously withdrawn from review; and ‘‘(D) providing notice of the results of a review or investigation to the parties to the covered transaction, upon completion of all action under this section.’’.

SEC. 3. STATUTORY ESTABLISHMENT OF THE COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES.

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Establishment. President.

VerDate Aug 31 2005

13:52 Jan 23, 2009

Section 721 of the Defense Production Act of 1950 (50 U.S.C. App. 2170) is amended by striking subsection (k) and inserting the following: ‘‘(k) COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES.— ‘‘(1) ESTABLISHMENT.—The Committee on Foreign Investment in the United States, established pursuant to Executive Order No. 11858, shall be a multi agency committee to carry out this section and such other assignments as the President may designate. ‘‘(2) MEMBERSHIP.—The Committee shall be comprised of the following members or the designee of any such member: ‘‘(A) The Secretary of the Treasury. ‘‘(B) The Secretary of Homeland Security. ‘‘(C) The Secretary of Commerce. ‘‘(D) The Secretary of Defense. ‘‘(E) The Secretary of State. ‘‘(F) The Attorney General of the United States. ‘‘(G) The Secretary of Energy. ‘‘(H) The Secretary of Labor (nonvoting, ex officio). ‘‘(I) The Director of National Intelligence (nonvoting, ex officio). ‘‘(J) The heads of any other executive department, agency, or office, as the President determines appropriate, generally or on a case-by-case basis. ‘‘(3) CHAIRPERSON.—The Secretary of the Treasury shall serve as the chairperson of the Committee. ‘‘(4) ASSISTANT SECRETARY FOR THE DEPARTMENT OF THE TREASURY.—There shall be established an additional position of Assistant Secretary of the Treasury, who shall be appointed by the President, by and with the advice and consent of the Senate. The Assistant Secretary appointed under this paragraph shall report directly to the Undersecretary of the Treasury for International Affairs. The duties of the Assistant Secretary shall include duties related to the Committee on Foreign Investment in the United States, as delegated by the Secretary of the Treasury under this section. ‘‘(5) DESIGNATION OF LEAD AGENCY.—The Secretary of the Treasury shall designate, as appropriate, a member or members

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