Page:United States Statutes at Large Volume 48 Part 1.djvu/222

 198 Termination o f agen- (c) This title shall cease to be in effect and any agencies established cacti« etc . hereunder shall cease to exist at the expiration of two years after the date of enactment of this Act, or sooner if the President shall by proclamation or the Congress shall by joint resolution declare that the emergency recognized by section 1 has ended. Codes of fair compe- tition. 73c1 CONGRESS. SESS. 1. CH. 90. iUNE 16, 1933 . CODES OF FAIR COMPETITION Approval by the President SEC. 3 . (a) Upon the application to the President by one or more . trade or industrial associations or groups, the President may approve a code or codes of fair competition for the trade or industry or sub- division thereof, represented by the applicant or applicants, if the President finds (1) that such associations or groups impose no ineq uita ble rest rict ions on admi ssio n to mem bers hip ther ein and are truly representative of such trades or industries or subdivisions thereof, and (2) that such code or codes are not designed to pro- mote monopolies or to eliminate or oppress small enterprises and will not operate to discriminate against them, and will tend to effectuate Monopolies, ete ., not the policy of this title : Pr ovide d, That such code or codes shall not p rht of persons af- permi t mono polies or m onopol istic practices : Provided further, fected to be beard. That where such code or codes affect the services and welfare of persons engaged in other steps of the economic process, nothing in this section shall deprive such persons of the right to be heard prior to approval by the President of such code or codes. The President I mposi tion protection maT dons for protection of 3„ as a condition of his approval of any such code, impose such consumers, etc. conditions (including requirements for the making of reports and the keeping of accounts) for the protection of consumers, competi- tors, employees, and others, and in furtherance of the public inter- e xce eppttions and ex- est, and may provide such exceptions to and exemptions from the provisions of such code, as the President in his discretion dee ms necessary to effectuate the policy herein declared. Approved code to be (b) After the President sha ll have appro ved any such c ode, the standard of fair compe- tit ion. deem ed provisions of such code shall be the standards of fair competition unfair practice. for such trade or industry or subdivision thereof. Any violation of such standards in any transaction in or affecting interstate or foreign commerce shall be deemed an unfair method of competition in com- Vol .39, p .717. merce within the meaning of the Federal Trade Commission Act, as amended ; but nothing in this title shall be construed to impair the powers of the Federal Trade Commission under such Act, as amended. Jurisdiction of dis- (c) The several district courts of the United States are hereby trict courts to restrain violations. invested with jurisdiction to prevent and restrain violations of any code of fair competition approved under this title ; and it shall be the duty of the several district attorneys of the United States, in their respective districts, under the direction of the Attorney Gen- eral, to institute proceedings in equity to prevent and restrain such violati ons. Establishment (d) Upon his own motion, or if complaint is made to the President of compulsory c ode by President. that abuses inimical to the public interest and contrary to the policy herein declared are prevalent in any trade or industry or subdivision boand hearing thereo required . f 7 and if no code of fair competition therefor has theretofore been approved by the President, the President, after such public notice and hea ring as he sh all specify, may prescribe and approve a code of fair competition for such trade or industry or subdivision .Effect of code. thereof, which shall have the same effect as a code of fair compe- tition approved by the President under subsection (a) of this section . Importation of corn- (e) On his own motion or if an la bor orga niza tion, or any tra de p etiti ve ar ticl es af fect- 7 y mg main tenance of or industrial organization, association, or group, which has complied code . with th e provi sions o f this title, shall make c omplain t to th e Pres ident