Page:United States Statutes at Large Volume 69.djvu/58

 16

PUBLIC LAW 19-MAR. 31, 1955

Negotiation period.

Report to Coi> gress.

50 USC app. 194 Ig. Transfer periods

Standby c o n d ition.

50 U S C app. 194 if.

T r a n s m i t t a l of report to Attorney Qeneral. 50 U S C a p p. 1941a.

s o u s e app. 1941/, 194 It. 62 Stat. 101. 50 USC app. 1921 note.

Termination eommission, 50 USC 194 Ir.

of app.

[69

STAT

"(b) If one or more proposals are received for the purchase of Plancor Numbered 877 within the time period specified in subsection (a), the Commission, notwithstanding^ the expiration of the period for negotiation specified in section 7(f), shall negotiate with those submitting the proposals for a period of not to exceed sixty days for the purpose of entering into a definite contract of sale. "(c) Within ten days after the termination of the actual negotiation period referred to in subsection (b), the Commission shall prepare and submit to the Congress a report containing, with respect to the disposal under this section of Plancor Numbered 877, the information described in paragraphs (1) to (5), inclusive, and paragraph (8) of section 9(a). Unless the contract is disapproved by either House of the Congress by a resolution prior to the expiration of thirty days of continuous session (as defined in section 9(c)) of the Congress following the date upon which the report is submitted to it, upon the expiration of such thirty-day period the contract shall become fully effective and the Commission shall proceed to carry it out, and transfer of possession of the facility sold shall be made as soon as practicable but in any event within thirty days after the expiration of such thirty-day period. The failure to complete transfer of possession within thirty days after the expiration of the period for congressional review shall not give rise to or be the basis of rescission of the contract of sale. " (d) If, upon termination of the transfer period provided for in subsection (c), no contract for the sale of Plancor Numbered 877 has become effective, the operating agency last designated by the President shall, as promptly as possible consistent with sound operating procedures, take said Plancor out of production and place it in adequate standby condition under the provisions of section 8 of the Rubber Producing Facilities Disposal Act of 1953: Provided, That the provisions in said section relating to the time for placing facilities in standby condition shall not apply to Plancor Numbered 877." SEC. 2. Notwithstanding the provisions of section 3(d) of the Rubber Producing Facilities Disposal Act of 1953, the Rubber Producing Facilities Disposal Commission (hereinafter referred to as the "Commission") before submission to the Congress of its report relative to Plancor Numbered 877, shall submit it to the Attorney General, who shall, within seven days after receiving the report, advise the Commission whether, in his opinion, the proposed disposition, if carried out, will violate the antitrust laws. SEC. 3. Notwithstanding the provisions of sections 14 and 22 of the Rubber Producing Facilities Disposal Act of 1953, the Rubber Act of 1948, as amended, is hereby extended with respect to the rubber-producing facilities covered by this Act, to the close of the day of transfer of possession of Plancor Numbered 877 to a purchaser in accordance with the provisions of section 25 of the Rubber Producing Facilities Disposal Act: Provided, That if no such transfer is made, the Rubber Act of 1948, as amended, is hereby extended to the close of the day upon which Plancor Numbered 877 is placed in standby condition pursuant to the provisions of this Act. SEC. 4. Notwithstanding the provisions of section 20 of the Rubber Producing Facilities Disposal Act of 1953, the Commission established by that Act shall cease to exist at the close of the thirtieth day following the termination of the transfer period provided for in section 25 (c) of that Act, unless no sale of Plancor Numbered 877 is recommended by the Commission pursuant to section 25(c) of that Act, in which event the Commission shall cease to exist at the close of the one hundred and thirtieth day following the date of enactment of this Act.

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