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AUTHORITY FOR SELECTIVE CREDIT CONTROL

Defense Production Act of September 8, 1950
Voluntary Agreements and Programs (89 Stat. 810)
SECTION 708
(a) Except as specifically provided in subsection (j) of this section, no provision of this Act (50 USC App. 2061 et seq.) shall be deemed to convey to any person any immunity from civil or criminal liability, or to create defenses to actions, under the antitrust laws.
(b) Definitions. For purposes of this Act—
(1) The term “antitrust laws” has the meaning given to such term in subsection (a) of the first section of the Clayton Act, except that such term includes section 5 of the Federal Trade Commission Act to the extent that such section 5 applies to unfair methods of competition.
(2) The term “plan of action” means any of 1 or more documented methods adopted by participants in an existing voluntary agreement to implement that agreement.
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(c) (1) Upon finding that conditions exist which may pose a direct threat to the national defense or its preparedness programs, the President may consult with representatives of industry, business, financing, agriculture, labor, and other interests in order to provide for the making by such persons, with the approval of the President, of voluntary agreements and plans of action to help provide for the defense of the United States through the development of preparedness programs and the expansion of productive capacity and supply beyond levels needed to meet essential civilian demand in the United States.
(2) The authority granted to the President in paragraph (1) and subsection (d) may be delegated by him (A) to individuals who are appointed by and with the advice and consent of the Senate, or are holding offices to which they have been appointed by and with the advice and consent of the Senate, (B) upon the condition that such individuals consult with the Attorney General and with the Federal Trade Commission not less than ten days before consulting with any persons under paragraph (1), and (C) upon the condition that such individuals obtain the prior approval of the Attorney General, after consultation by the Attorney General with the Federal Trade Commission, to consult under paragraph (1).
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(d) (1) To achieve the objectives of subsection (c)(1) of this section, the President or any individual designated pursuant to subsection (c)(2) may provide for the establishment of such advisory committees as he determines are necessary. In addition to the requirements specified in this section and except as provided in subsection (n), any such advisory committee shall be subject to the provisions of the Federal Advisory Committee Act (50 USC App.), whether or not such Act or any of its provisions expire or terminate during the term of this Act (50 USC App. 2061 et seq.) or of such committees, and in all cases such advisory committees shall be chaired by a Federal employee (other than an individual employed pursuant to section 3109 of title 5, United States Code) and shall include representatives of the public. The Attorney General and the Federal Trade Commission shall have adequate advance notice of any meeting and may have an official representative attend and participate in any such meeting.
(2) A full and complete verbatim transcript shall be kept of such advisory committee meetings, and shall be taken and deposited, together with any agreement resulting therefrom, with the Attorney General and the Federal Trade Commission. Such transcript and agreement shall be made available for public inspection and copying, subject to the provisions of paragraphs (1), (3), and (4) of section 552(b) of title 5, United States Code.
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[50 USC, App. 2158 (a)-(d). As amended by acts of Sept. 26, 1961 (75 Stat. 667); Dec. 23, 1969 (83 Stat. 376); Dec. 16, 1975 (89 Stat. 810); and Aug. 17, 1991 (105 Stat 487). In considering the objectives of the Defense Production Act, see the declaration of policy in section 2 (50 USC, App. 2062) and the purpose of price and wage stabilization in section 401 (50 USC, App. 2101).]

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