Page:United States Statutes at Large Volume 56 Part 1.djvu/795

 77TH CONG., 2D SESS.-CH. 578-CT. 2, 1942 SEC. 5. (a) No employer shall pay, and no employee shall receive, wages or salaries in contravention of the regulations promulgated by the President under this Act. The President shall also prescribe the extent to which any wage or salary payment made in contra- vention of such regulations shall be disregarded by the executive departments and other governmental agencies in determining the costs or expenses of any employer for the purposes of any other law or regulation. (b) Nothing in this Act shall be construed to prevent the reduc- tion by any private employer of the salary of any of his employees which is at the rate of $5,000 or more per annum. (c) The President shall have power by regulation to limit or prohibit the payment of double time except when, because of emer- gency conditions, an employee is required to work for seven consec- utive days in any regularly scheduled work week. SEC, 6. The provisions of this Act (except sections 8 and 9), and all regulations thereunder, shall terminate on June 30, 1944, or on such earlier date as the Congress by concurrent resolution, or the President by proclamation, may prescribe. SEC. 7. (a) Section 1 (b) of the Emergency Price Control Act of 1942 is hereby amended by striking out "June 30, 1943" and sub- stituting "June 30, 1944". (b) All provisions (including prohibitions and penalties) of the Emergency Price Control Act of 1942 which are applicable with respect to orders or regulations under such Act shall, insofar as they are not inconsistent with the provisions of this Act, be applicable in the same manner and for the same purposes with respect to regula- tions or orders issued by the Price Administrator in the exercise of any functions which may be delegated to him under authority of this Act. (c) Nothing in this Act shall be construed to invalidate any pro- vision of the Emergency Price Control Act of 1942 (except to the extent that such provisions are suspended under authority of section 2), or to invalidate any regulation, price schedule, or order issued or effective under such Act. SEC. 8. (a) The Commodity Credit Corporation is authorized and directed to make available upon any crop of the commodities cotton, corn, wheat, rice, tobacco, and peanuts harvested after December 31, 1941, and before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated, if pro- ducers have not disapproved marketing quotas for such commodity for the marketing year beginning in the calendar year in which such crop is harvested, loans as follows: (1) To cooperators (except cooperators outside the commercial corn-producing area, in the case of corn) at the rate of 90 per centum of the parity price for the commodity as of the beginning of the marketing year; (2) To cooperators outside the commercial corn-producing area, in the case of corn, at the rate of 75 per centum of the rate specified in (1) above; (3) To noncooperators (except noncooperators outside the com- mercial corn-producing area, in the case of corn) at the rate of 60 per centum of the rate specified in (1) above and only on so much of the commodity as would be subject to penalty if marketed. (b) All provisions of law applicable with respect to loans under the Agricultural Adjustment Act of 1938, as amended, shall, insofar as they are not inconsistent with the provisions of this section, be appli- cable with respect to loans made under this section. 56 STAT.] 767 Wages or salaries in contravention of reg- ulations. Reduction of salaries of $5,000 or more. Double time. Termination of cer- tain provisions. Emergency Price Control Act of 1942, amendment. Ante, p. 24. Applicability. Ante, p. 23. Invalidation of pro- visions, etc. Ante, p. 23. Loans on certain agricultural commodi- ties. 52 Stat. 31 . 7 U.. c.. i 1281- 1407; Supp. I, ch. 35. Ante, pp. 41, 51,121, 653.

�