Page:United States Statutes at Large Volume 90 Part 1.djvu/92

 90 STAT. 42

PUBLIC LAW 94-210—FEB. 5, 1976 days' notice. Such a schedule may not, for a period of 5 years after its effective date, be suspended or set aside as unlawful under section 2, 3, or 4 of this part, except that the Commission may at any time order such schedule to be revised to a level equaling the variable costs of providing the service, if the rate stated therein is found to reduce the going concern value of the carrier.". EXEMPTIONS FROM INTERSTATE COMMERCE ACT

Notice and hearing.

SEC. 207. Paragraph (1) of section 12 of the Interstate Commerce Act (49 U.S.C. 1 2 (1)) is amended by inserting " (a) " immediately before " The Commission" and by adding at the end thereof the following new subdivision: " (b) Whenever the Commission determines, upon petition by the Secretary or an interested party or upon its own initiative, in matters relating to a common carrier by railroad subject to this part, after notice and reasonable opportunity for a hearing, that the application of the provisions of this part (i) to any person or class of persons, or (ii) to any services or transactions by reason of the limited scope of such services or transactions, is not necessary to effectuate the national transportation policy declared in this Act, would be an undue burden on such person or class of persons or on interstate and foreign commerce, and would serve little or no useful public purpose, it shall, by order, exempt such persons, class of persons, services, or transactions from such provisions to the extent and for such period of time as may be specified in such order. The Commission may, by order, revoke any such exemption whenever it finds, after notice and reasonable opportunity for a hearing, that the application of the provisions of this part to the exempted person, class of persons, services, or transactions, to the extent specified in such order, is necessary to effectuate the national transportation policy declared in this Act and to achieve effective regulation by the Commission, and would serve a useful public purpose.". RATE BUREAUS

49 USC 1, 301, 901.

SEC. 208. (a) Effective 270 days after the date of enactment of this Act, section 5a of the Interstate Commerce Act (49 U.S.C. 5b) is amended in paragraph (1)(A) thereof by striking out " part I, II, or III " and inserting in lieu thereof " part I (other than a common carrier by r a i l r o a d), part II, or part III ". (b) Part I of the Interstate Commerce Act is amended by inserting after section 5a thereof a new section 5b as follows: aAGREEMENTS

Definitions. 49 USC 5c.

BETWEEN CARRIERS SUBJECT TO PART I

"SEC. 5b. (1) As used in this section, the term— "(a) 'affiliate' means any person directly or indirectly controlling, controlled by, or under common control or ownership with, any other person, and as used in this subdivision, the term (i) 'control' has the same meaning as in section 1(3)(b) of this part; and (ii) 'ownership' refers to equity holdings of 5 per centum or more in any business entity; "(b) 'antitrust laws' means the Act of July 2, 1890, as amended (15 U.S.C. 1, et seq.), the Act of October 15, 1914, as amended (15 U.S.C. 12, et seq.), the Federal Trade Commission Act (15 U.S.C. 41, et seq.), sections 73 and 74 of the Act of August 27, 1894, as amended (15 U.S.C. 8 and 9), and chapter 592 of the Act of June 19, 1936, as amended (15 U.S.C. 13, 13a, 13b, 21a); and "(c) 'carrier' means any common carrier by railroad subject to part I of this Act.

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