Page:United States Statutes at Large Volume 65.djvu/172

 138

PUBLIC LAW 96—JULY 31, 1951

[65 STAT.

or (2) require a down payment of more than 15 per centum or fix a maximum maturity of less than eighteen months in connection with instalment credit extended for the purchase of any household appliance (including phonographs and radios and television sets), or (3) require a down payment of more than 15 per centum or fix a maximum maturity of less than eighteen months in connection with instalment credit extended for the purchase of household furniture and floor coverings (the down payments required by the Board in the exercise of its authority under paragraphs (1), (2), and (3) may be made in cash, or by trade-in or exchange of property, or by a combination of cash and trade-in or exchange of property), or (4) require a down payment of more than 10 per centum or fix a maximum maturity of less than thirty-six months in connection with instalment credit extended for residential repairs, alterations, or improvements or require any down payment on roofing or siding repairs, alterations or improvements in advance of completion thereof." 50 U.S.C. a p p. (b) Section 603 of the Defense Production Act of 1950 is amended I 2133. to read as follows: "SEC. 603. Any person who willfully violates any provision of section Penalty. 60 U.S.C. a p p. 601, 602, or 605 or any regulation or order issued thereunder, upon §§2131, 2132, 2135. conviction thereof, shall be fined not more than $5,000 or imprisoned not more than one year, or both." 50 U.S.C. a p p. (c) Section 605 of the Defense Production Act of 1950 is amended ^ Credit preference of by adding at the end thereof the following sentences: "Subject to the provision of this section with respect to preserving the relative credit preferences accorded to veterans under existing law, the President may require lenders or borrowers and their successors and assigns to comply with reasonable conditions and requirements, in addition to those provided by other laws, in connection with any loan of a type which has been the subject of action by the President under this section. Such conditions and requirements may vary for classifications of persons or transactions as the President may prescribe, and failure to comply therewith shall constitute a violation of this section." GENERAL PROVISIONS
 * terans.

Civilian supply. 50 U.S.C. app. §2151.

50 U.S.C. app. §2953. Appointment of ofTicers, etc. 63 Stat. 854. 5U. 8. C. §l071note.

State representative.

SEC. 107. The table of contents of the Defense Production Act of 1950 is amended by striking out "Authority to requisition" and inserting in lieu thereof "Authority to requisition and condemn". SEC. 108. Subsection (c) of section 701 of the Defense Production Act of 1950 is amended by striking out "and having due regard to the needs of new businesses" and inserting in lieu thereof the following: "and having due regard to the current competitive position of established business: Provided, That the limitations and restrictions imposed on the production of specific items shall not exclude new concerns from a fair and reasonable share of total authorized production". SEC. 109. (a) Subsection (a) of section 703 of the Defense Production Act of 1950 is amended by striking out the second sentence and inserting in lieu thereof the following sentence: "The President is authorized to appoint heads and assistant heads of any such new agencies, and other officials therein of comparable status, and to fix their compensation, without regard to the Classification Act of 1949, as amended, the head of one such agency to be paid at a rate comparable to the compensation paid to the heads of executive departments of the Government, and other such heads, assistant heads, and officials at rates comparable to the compensation paid to the heads and assistant heads of independent agencies of the Government." (b) Section 703(b) of the Defense Pi-oduction Act of 1950 is amended by adding at the end thereof the following: "There shall be

�