Act of August 15, 1970 (84 Stat. 799)
SECTION 203—Presidential Authority
(a) The President is authorized to issue such orders and regulations as he
deems appropriate, accompanied by a statement of reasons for such orders and
regulations, to—
(2) stabilize interest rates and corporate dividends and similar transfers
at levels consistent with orderly economic growth.
Such orders and regulations shall provide for the making of such
adjustments as may be necessary to prevent gross inequities, and shall be
consistent with the standards issued pursuant to subsection
(b).
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(b) In carrying out the authority vested in him by subsection (a), the
President shall issue standards to serve as a guide for determining levels of
wages, salaries, prices, rents, interest rates, corporate dividends, and
similar transfers which are consistent with the purpose of this title and
orderly economic growth. Such standards shall—
(1) be generally fair and equitable;
(2) provide for the making of such general exceptions and variations as are
necessary to foster orderly economic growth and to prevent gross inequities,
hardships, serious market disruptions, domestic shortages of raw materials,
localized shortages of labor, and windfall profits;
(3) take into account changes in productivity and the cost of living, as
well as such other factors consistent with the purposes of this title as are
appropriate;
(4) provide for the requiring of appropriate reductions in prices and rents
whenever warranted after consideration of lower costs, labor shortages, and
other pertinent factors; and
(5) call for generally comparable sacrifices by business and labor as well
as other segments of the economy.
(e) Whenever the authority of this title is implemented with respect to
significant segments of the economy, the President shall require the issuance
of regulations or orders providing for the stabilization of interest rates
and finance charges, unless he issues a determination, accompanied by a
statement of reasons, that such regulations or orders are not necessary to
maintain such rates and charges at levels consonant with orderly economic
growth.
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SECTION 218—Expiration
The authority to issue and enforce orders and regulations under this
title expires at midnight April 30, 1973, but such expiration shall not
affect any action or pending proceedings, civil or criminal, not finally
determined on such date, nor any action or proceeding based upon any act
committed prior to May 1, 1973.
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[Formerly 12 USC 1904 note. As amended by acts of Dec. 17, 1970
(84 Stat. 1468); March 31, 1971 (85 Stat. 13); May 18, 1971 (85 Stat. 38);
Dec. 22, 1971 (85 Stat. 743); and April 30, 1973 (87 Stat. 27-29).
Omitted.]
