15 U.S.C. § 640 — Voluntary agreements among small-business concerns
submitted 68 years ago by Pub. L. 85-536 to r/title-15-COMMERCE-AND-TRADE · 367 words · no verdicts yet
The President may consult with small businesses and approve voluntary agreements that support this chapter’s objectives. Certain actions taken under an approved, requested agreement may be outside specified antitrust restrictions, subject to notice, consultation, approval, and withdrawal rules.
(a) Presidential consultation. The President may consult small-business representatives to encourage them, with the President’s approval, to make voluntary agreements and programs that further this chapter.
(b) Exemption from certain laws. While this chapter is in effect, an act or failure to act under it is not treated as prohibited by the United States* antitrust laws or the Federal Trade Commission Act if the President requested it under a voluntary agreement or program approved under subsection (a) and found it in the public interest because it contributes to national defense. A copy of each covered request, and any change or withdrawal, must be given when made to the Attorney General and FTC Chair. It must be published in the Federal Register unless the President believes publication would endanger national security.
(c) Delegation. The authority in (b) may be delegated only: (1) to an official appointed by the President with Senate advice and consent; (2) on the condition that the official consults the Attorney General and FTC Chair at least 10 days before making a request or finding; and (3) on the condition that the official obtains the Attorney General’s approval before making a request.
(d) Withdrawal. If a request or finding is withdrawn, or the Attorney General withdraws approval of the underlying agreement or program, this section no longer applies to later acts or failures to act because of that request or finding.
The President is authorized to consult with representatives of small-business concerns with a view to encouraging the making by such persons with the approval of the President of voluntary agreements and programs to further the objectives of this chapter.
No act or omission to act pursuant to this chapter which occurs while this chapter is in effect, if requested by the President pursuant to a voluntary agreement or program approved under subsection (a) of this section and found by the President to be in the public interest as contributing to the national defense, shall be construed to be within the prohibitions of the antitrust laws or the Federal Trade Commission Act [15 U.S.C. 41 et seq.] of the United States*. A copy of each such request intended to be within the coverage of this section, and any modification or withdrawal thereof, shall be furnished to the Attorney General and the Chairman of the Federal Trade Commission when made, and it shall be published in the Federal Register unless publication thereof would, in the opinion of the President, endanger the national security.
The authority granted in subsection (b) of this section shall be delegated only (1) to an official who shall for the purpose of such delegation be required to be appointed by the President by and with the advice and consent of the Senate, (2) upon the condition that such official consult with the Attorney General and the Chairman of the Federal Trade Commission not less than ten days before making any request or finding thereunder, and (3) upon the condition that such official obtain the approval of the Attorney General to any request thereunder before making the request.
Upon withdrawal of any request or finding hereunder, or upon withdrawal by the Attorney General of his approval of the voluntary agreement or program on which the request or finding is based, the provisions of this section shall not apply to any subsequent act, or omission to act, by reason of such finding or request.
Source credit: (Pub. L. 85–536, § 2[11], July 18, 1958, 72 Stat. 394.)
- 1958Enacted · Pub. L. 85-536 · 72 Stat. 394
A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-536 on 1958-07-18.
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