Page:United States Statutes at Large Volume 90 Part 1.djvu/115

 PUBLIC LAW 94-210—FEB. 5, 1976 '

90 STAT. 65

"(iii) conduct an informal public hearing with respect to such Hearing, proposed transaction and provide an opportunity for all interested parties to submit written comments; "(iv) study each such proposed transaction with respect to— <i " (A) the needs of rail transportation in the geographical area affected; "(B) the effect of such proposed transaction on the retention and promotion of competition in the provision of rail and other transportation services in the geographical area affected; "(C) the environmental impact of such proposed transaction and of alternative choices of action; "(D) the effect of such proposed transaction on employment; " (E) the cost of rehabilitation and modernization of track, equipment, and other facilities, with a comparison of the potential savings or losses from other possible choices of action; " (F) the rationalization of the rail system; "(G) the impact of such proposed transaction on shippers, consumers, and railroad employees; " (H) the effect of such proposed transaction on the communities in the geographical areas affected and on the geographical areas contiguous to such areas; and " (I) whether such proposed tranf>action will improve rail service; and " (v) submit a report to the Commission setting forth the results Report to of each study conducted pursuant to clause (iv), within 10 Commission, days after an application is submitted to the Commission pursuant to subdivision (c), with respect to the proposed transaction which is the subject of such study. The Commission shall g.ve due weight and consideration to such report in making its determinations under this paragraph. "(g) The Commission may— "(i) approve a transaction proposed under this paragraph, if the Commission determines that such proposed transaction is in the public interest; and "(ii) condition its approval of any such proposed transaction on any terms, conditions, and modifications which the Commission determines are in the public interest; or "(iii) disapprove any such proposed transaction, if the Commission determines that such proposed transaction is not in the public interest. In each such case, the decision of the Commission shall be accompanied by a written opinion setting forth the reasons for its action.", (b) Section 5 of the Interstate Commerce Act (49 U.S.C. 5) is further amended— (1) in paragraph (2)(a) thereof by inserting "or paragraph (3)" immediately after "subdivision (b) "; (2) in paragraph (2)(f) thereof, by inserting immediately after " (2) " the following: "or paragraph (3)"; (3) in paragraph (5) thereof, as redesignated by this Act, by striking out "paragraph (2)" and inserting in lieu thereof "paragraphs (2) and (3)", and by striking out "paragraph (5)" and inserting in lieu thereof "paragraph (6)"; (4) in paragraph (8) thereof, as redesignated by this Act, by striking out "paragraph (4)" and inserting in lieu thereof
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