(Title 50 Appendix)
§ 1941x. Disposal of rubber-producing facility at Institute, West Virginia
(a) Receipt of proposal
Notwithstanding the second sentence of section 7(a) [section 1941e(a) of this Appendix], the period for receipt of proposals for the purchase of the Government-owned rubber-producing facility at Institute, West Virginia, known as Plancor Numbered 980, shall not expire until the end of the sixty-day period which begins on the date of the enactment of this section [Aug. 9, 1955].
(b) Negotiation period
If one or more proposals are received for the purchase of Plancor Numbered 980 within the time period specified in subsection (a), the Commission, notwithstanding the expiration of the period for negotiation specified in section 7 (f) [section 1941e(f) of this Appendix], shall negotiate with those submitting the proposals for a period of not to exceed seventy-five days for the purpose of entering into a definite contract of sale.
(c) Report to Congress; transfer period
Within ten days after the termination of the actual negotiation period referred to in subsection (b), or, if Congress is not then in session, within ten days after Congress next convenes, the Commission shall prepare and submit to the Congress a report containing with respect to the disposal under this section of Plancor Numbered 980, the information described in paragraphs (1) to (5), inclusive, and paragraph (8) of section 9(a) [section 1941g(a) of this Appendix]. Unless the contract is disapproved by either House of the Congress by a resolution prior to the expiration of thirty days of continuous session (as defined in section 9(c) [section 1941g(c) of this Appendix]) of the Congress following the date upon which the report is submitted to it, upon the expiration of such thirty-day period the contract shall become fully effective and the Commission shall proceed to carry it out, and transfer of possession of the facility sold shall be made as soon as practicable but in any event within thirty days after the expiration of such thirty-day period. The failure to complete transfer of possession within thirty days after the expiration of the period for congressional review shall not give rise to or be the basis of rescission of the contract of sale.
(d) Standby condition
If, upon termination of the transfer period provided for in subsection (c), no contract for the sale of Plancor Numbered 980 has become effective, the operating agency last designated by the President shall continue to maintain said Plancor in adequate standby condition under the provisions of section 8 of the Rubber Producing Facilities Disposal Act of 1953 [section 1941f of this Appendix].
(Aug. 7, 1953, ch. 338, § 26, as added Aug. 9, 1955, ch. 696, § 1, 69 Stat. 628.)
heading: Transfer of Functions
text: Functions, property, records, etc., of Rubber Producing Facilities Disposal Commission transferred to Federal Facilities Corporation by Ex. Ord. No. 10678, Sept. 20, 1956, 21 F.R. 7199, set out under section 1941r of this Appendix.
Federal Facilities Corporation dissolved and functions, property, records, etc., transferred to Administrator of General Services by Pub. L. 87–190, Aug. 30, 1961, 75 Stat. 418, set out as a note under section 1938 of this Appendix.
heading: Submission of Disposal Report to Attorney General
text: Act Aug. 9, 1955, ch. 696, § 2, 69 Stat. 629, provided that: “Notwithstanding the provisions of section 3(d) of the Rubber Producing Facilities Disposal Act of 1953 [section 1941a(d) of this Appendix], the Rubber Producing Facilities Disposal Commission (hereinafter referred to as the ‘Commission’) before submission to the Congress of its report relative to Plancor Numbered 980, shall submit it to the Attorney General, who shall, within seven days after receiving the report, advise the Commission whether, in his opinion, the proposed disposition, if carried out, will violate the antitrust laws.”
heading: Disposal Criteria
text: Act Aug. 9, 1955, ch. 696, § 5, 69 Stat. 629, provided that: “Except as otherwise provided in this Act [enacting this section and provisions set out as notes under sections 1938, 1941r, and 1941x of this Appendix], disposal of Plancor Numbered 980 shall be fully subject to all the provisions of the Rubber Producing Facilities Disposal Act of 1953 [sections 1941 to 1941y of this Appendix] and such criteria as have been established by the Commission in handling disposal of other Government-owned rubber producing facilities under that Act: Provided, That the provisions of sections 7(j), 7(k), 9(d), 9(f), 10, 11, 15, and 24 of that Act [sections 1941e(j), 1941e(k), 1941g(d), 1941g(f), 1941h, 1941i, 1941m, and 1941v of this Appendix] shall not apply to the disposal of Plancor Numbered 980. As promptly as practicable following the date of transfer of possession of Plancor Numbered 980 to a purchaser under this Act, the operating agency last designated by the President shall offer for sale to such purchaser the end products at such plant and held in inventory for Government account on the day of such transfer of possession, together with the feedstocks then located at such plant or purchased by the operating agency for use at such plant. Sale of such end products shall be made at the Government sales price prevailing on the business day next preceding the date of transfer of possession of such plant. Sale of such feedstocks shall be made at not less than their cost to the Government. In the event the purchaser declines to purchase such end products or feedstocks when first offered to it by the operating agency, they may be thereafter disposed of in such manner as the operating agency deems advisable. In the event Plancor Numbered 980 is not sold under the provisions of this Act, any end products at such plant and held in inventory for Government account and any feedstocks located at such plant or purchased by the operating agency for use at such plant shall be disposed of in such manner as the operating agency deems advisable, at the prevailing market price for such end products and feedstocks.”
heading: Limitation
text: Act Aug. 9, 1955, ch. 696, § 6, 69 Stat. 630, provided that: “The provisions of this Act [enacting this section and provisions set out as notes under sections 1938, 1941r, and 1941x of this Appendix] shall not be applicable to the disposal of any Government-owned rubber-producing facilities other than Plancor Numbered 980; and all action taken pursuant to the provisions of the Rubber Producing Facilities Disposal Act of 1953 [sections 1941 to 1941y of this Appendix], or the amendment thereto known as Public Law 19 [section 1941w of this Appendix], enacted March 31, 1955, prior to the enactment of this Act [Aug. 9, 1955] shall be governed by the provisions of that Act as it existed prior to the enactment of this Act and shall have the same force and effect as if this Act had not been enacted.”