Page:United States Statutes at Large Volume 60 Part 1.djvu/696

 60 STAT.] 79TH CONG. , 2D SESS. -CH. 671-JULY 25, 1946 notice of any such hearing and an opportunity to present their views with respect to the petition and may, not later than five days prior to such hearing, present in writing evidence relating thereto. Within fifteen days after such hearing, the Administrator or the Secretary, as the case may be, shall either grant the petition in full or furnish the industry advisory committee with a statement in writing of his reasons for denying it in whole or in part together with a statement of any economic data or other facts of which he has taken official notice in connection with such denial. "(3) At any time within thirty days after the denial in whole or in part, following a hearing, of a petition filed under this subsection, the petitioning industry advisory committee may petition the Price Decontrol Board established under subsection (h) for a review of the action of the Administrator or the Secretary of Agriculture. If the Administrator or the Secretary, as the case may be, fails to act upon a petition within the time prescribed by paragraph (2), the industry advisory committee may, at any time within thirty days after the expiration of the time so prescribed, petition the Price Decontrol Board for the removal of maximum prices on the com- modity involved. "(4) Nothing in this section shall be construed to take away or impair any right of any person to protest, in accordance with the provisions of sections 203 and 204 of this Act, the further mainte- nance of maximum prices for a commodity under the standards of subsection (d) or (e): Provided, That the filing of such a protest or of a petition under paragraph 3 of this subsection shall not be grounds for staying any proceeding brought pursuant to section 205 of this Act or section 37 of the Criminal Code, and no retroactive effect shall be given to any judgment setting aside a provision of a regulation, order, or price schedule under the standards set forth in this section. "(h) PRICE DECONTROL BOARD.-(1) There is hereby established as an independent agency in the executive branch of the Government a Price Decontrol Board, to be composed of three members appointed by the President by and with the advice and consent of the Senate. Not more than two members of the Board shall be members of the same political party. Two members of the Board shall constitute a quorum, and a vacancy in the membership of the Board shall not impair the power of the remaining members to exercise its functions. Members of the Board shall receive compensation at the rate of $12,000 a year. "(2) The Board shall appoint and fix the compensation of a secretary for the Board and such other officers and employees as may be necessary to enable it to perform its functions. The Board may make such expenditures as may be necessary for performing its functions. The Board may, with the consent of the head of the department or agency concerned, utilize the facilities, services, and personnel of other agencies or departments of the Government. The Board shall maintain an office in charge of its secretary in the District of Columbia, which shall be open on all business days for the receipt of petitions for review and the transaction of other business of the Board. The Board shall prescribe regulations and procedures for the conduct of its business which will provide for summary disposition, with the utmost expedi- tion consistent with sound decision, of petitions filed with the Board. "(3) A petition made under subsection (g) (3) shall specifically state the grounds upon which the petitioning industry advisory com- mittee believes that maximum prices on the commodity involved should be removed. A copy of such petition shall forthwith be served on the 669 Petition for review. Petition for removal ofmaximum prices. Right to protest. 56 Stat. 31. 60 U. S. C., Supp. V, app. §§ 923, 924. Ante, p. 665. 56 Stat. 33; 35 Stat. 1096. 50 U. S. C., Supp. V, app. 925;18U. . C.§88. Post, pp . 676, 677. Establishment, etc. Post, p. 915. Compensation. Officers and em- ployees. Expenditures, etc. Office in D.0. Regulations and procedures. Petition.

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