15 U.S.C. § 18b — Mergers involving foreign government subsidies

submitted 4 years ago by Pub. L. 117-328 to r/title-15-COMMERCE-AND-TRADE · 228 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law applies to companies that report mergers and received foreign subsidies. Such a company must include subsidy details in its merger notification. Regulators will write rules spelling out exactly what must be included.

(a) Definition This section uses the term "foreign entity of concern." It has the same meaning given to it in section 18741 of title 42. (b) Accounting for foreign government subsidies If a person must file a merger notification under section 18a of this title, and that person received a subsidy from a foreign entity of concern, the notification must include content about that subsidy. (c) Authority of antitrust regulators The Federal Trade Commission, working with the Assistant Attorney General for antitrust, and consulting with the Chairperson of the Committee on Foreign Investment in the United States, the Secretary of Commerce, the Chair of the U.S. International Trade Commission, the U.S. Trade Representative, and the heads of other relevant agencies, must write a rule — following the standard rulemaking process in section 553 of title 5 — setting the form and content of the notification required under subsection (b). That rule must require whatever documentary material and information is necessary and appropriate for the FTC and the Assistant Attorney General to decide whether the acquisition might, if completed, violate the antitrust laws. (d) Effective date Subsection (b) takes effect on the date the rule described in subsection (c) takes effect.

the actual law source: uscode.house.gov ↗public domain

(a) Definition

In this section, the term “foreign entity of concern” has the meaning given the term in section 18741 of title 42.

(b) Accounting for foreign government subsidies

A person required to file a notification under section 18a of this title that received a subsidy from a foreign entity of concern shall include in such notification content regarding such subsidy.

The Federal Trade Commission, with the concurrence of the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice, and in consultation with the Chairperson of the Committee on Foreign Investment in the United States, the Secretary of Commerce, the Chair of the United States International Trade Commission, the United States Trade Representative, and the heads of other appropriate agencies, and by rule in accordance with section 553 of title 5, shall require that the notification required under subsection (b) be in such form and contain such documentary material and information relevant to a proposed acquisition as is necessary and appropriate to enable the Federal Trade Commission and the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice to determine whether such acquisition may, if consummated, violate the antitrust laws.

(d) Effective date

Subsection (b) shall take effect on the date on which the rule described in subsection (c) takes effect.

Source credit: (Pub. L. 117–328, div. GG, title II, § 202, Dec. 29, 2022, 136 Stat. 5970.)

history & why it existsrecord from the source credit

2022Enacted · Pub. L. 117-328 · 136 Stat. 5970

A history note hasn’t been published yet. The record shows enactment by Pub. L. 117-328 on 2022-12-29.

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