Page:United States Statutes at Large Volume 92 Part 2.djvu/160

 92 STAT. 1440

Alv

Ante, p. 1345. 5 USC 551. 49 USC 11350. Publication in Federal Register. Ante, p. 1359.

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PUBLIC LAW 95-473—OCT. 17, 1978 or at least 2 water carriers, or of a purchase, lease, or contract to operate the properties of at least one motor carrier or at least one water carrier, the Commission may approve, for a period of not more than 180 days, the operation of the properties sought to be acquired by the person proposing in the application to acquire those properties. The Commission may approve operation of motor carrier properties when it appears that failure to grant the approval may result in destruction of or injury to those motor carrier properties the person is seeking to acquire, or substantially interfere with their future usefulness in providing adequate and continuous service to the public. The Commission may approve the operation of water carrier properties only for good cause shown. (b) The Commission may take action under subsection (a) of this section without regard to subchapter II of chapter 103 of this title and subchapter II of chapter 5 of title 5. Transportation provided by a motor carrier under a grant of approval under this section is subject to this subtitle. §11350. Responsibility of the Secretary of Transportation in certain transactions (a) When a rail carrier providing transportation subject to the jurisdiction of the Interstate Commerce Commission under subchapter I of chapter 105 of this title sends a proposed transaction to the Secretary of Transportation under section 11346(a) of this title or the Secretary develops a proposed transaction for submission to the Commission under that section, the Secretary shall publish a summary and a detailed account of the transaction in the Federal Register and give notice of the transaction to the Attorney General and to the chief executive officer of each State in which property of a rail carrier involved in the transaction is located. The Secretary shall initiate an informal proceeding on the proposed transaction under section 553 of title 5. (b) By the 10th day after an application is submitted to the Commission under section 11346 of this title, the Secretary shall complete and send to the Commission a study of the proposed transaction about— (1) the needs of rail transportation in the geographical area affected by the transaction; (2) the effect of the transaction on competition in rail transportation and other modes of transportation in the geographical area affected by the transaction; (3) the environmental impact of the transaction and of alternative choices of action; (4) the effect of the transaction on employment; (5) the coelt 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; (6) the rationalization of the rail system; (7) the impact of the transaction on shippers, consumers, and rail carrier employees; (8) the effect of the transaction on communities in the geographical area affected by the transaction and on geographical areas contiguous to the affected areas; and (9) whether the proposed transaction will improve rail service.

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