In carrying out the provisions of this paragraph the Commission shall require each registered holding company (and any company in the same holding-company system with such holding company) to take such action as the Commission shall find necessary in order that such holding company shall cease to be a holding company with respect to each of its subsidiary companies which itself has a subsidiary company which is a holding company. Except for the purpose of fairly and equitably distributing voting power among the security holders of such company, nothing in this paragraph shall authorize the Commission to require any change in the corporate structure or existence of any company which is not a holding company, or of any company whose principal business is that of a public-utility company.

The Commission may by order revoke or modify any order previously made under this subsection, if, after notice and opportunity for hearing, it finds that the conditions upon which the order was predicated do not exist. Any order made under this subsection shall be subject to judicial review as provided in section 24. * * *

MERCHANT MARINE ACT, 1936 73

SEC. 806. (a) Whoever shall consult with, or enter into an agreement with, or inform any other bidder, or officer, director, executive, agent, or employee of any such other bidder, as to the amount, the terms, or the conditions of any bid submitted to the Secretary of Commerce 74 prior to the public opening of such bids, or enter into any combination, understanding, agreement, or arrangement whatsoever, to prevent the making of any bona-fide bid for any contract or charter under this Act, to induce any other person not to bid for any such contract or charter, or to deprive the United States in any way of the benefit of full, free, and secret competition in the awarding of any such contract or charter shall be guilty of a misdemeanor: 75 Provided, That this section shall also apply to bidding for contracts under the provisions of section 504 of this Act.

(b) Whenever any natural person is found guilty in any district court of the United States of any act or acts declared in this Act to constitute a misdemeanor, he shall be punished by a fine of not more than $10,000, or by imprisonment for not less than one year or more than five years, or by both fine and imprisonment. Whenever any corporation is found guilty of any act or acts declared in this Act to be unlawful, such corporation shall be punished by a fine of not more than $25,000.

(c) In addition to the punishment prescribed in subsection (a) 76 of this section, any person or corporation convicted of a misdemeanor under the provisions of this Act shall be ineligible, at the discretion

73 49 Stat. 2014; 46 U.S.C. 1224, 1227, and 1228; Public Law 835, 74th Cong.

74 Sec. 304 of 1961 Reorganization Plan No. 7, effective Aug. 12, 1961, 26 F.R. 7315, 75 Stat. 840, abolished the Federal Maritime Board, including the offices of the members of the Board. Functions of the Board were transferred either to the Federal Maritime Commission or to the Secretary of Commerce by secs. 103 and 202 of the 1961 Reorganization Plan No. 7, 87th Cong. The Plan, in effect, transferred all regulatory functions to the newly created Federal Maritime Commission, and all promotional and subsidy functions to the Secretary of Commerce, which functions may be delegated to the Maritime Administrator.

75 As to whether this is a misdemeanor or felony in light of penalty provided in sec. (b), see 18 U.S.C. 1 and reviser's notes thereto (62 Stat. 684; Public Law 772, 80th Cong, 1948). 16 So in original. Apparently should be (b).

of the Secretary of Commerce, to receive any benefits under titles V and VI of this Act, or to receive a charter under title VII of this Act, for a period of five years after conviction.

SEC. 810. It shall be unlawful for any contractor receiving an operating-differential subsidy under title VI or for any charterer of vessels under title VII of this Act, to continue as a party to or to conform to any agreement with another carrier or carriers by water, or to engage in any practice in concert with another carrier or carriers by water which is unjustly discriminatory or unfair to any other citizen of the United States who operates a common carrier by water exclusively employing vessels registered under the laws of the United States on any established trade route from and to a United States port or ports.

No payment or subsidy of any kind shall be paid directly or indirectly out of funds of the United States or any agency of the United States to any contractor or charterer who shall violate this section. Any person who shall be injured in his business or property by reason of anything forbidden by this section may sue therefor in any district court of the United States in which the defendant resides or is found or has an agent, without respect to the amount in controversy, and shall recover threefold the damages by him sustained, and the cost of suit, including a reasonable attorney's fee.

FEDERAL WATER POWER ACT 77

SEC. 10.78 *** (h) That combinations, agreements, arrangements, or understandings, express or implied, to limit the output of electrical energy, to restrain trade, or to fix, maintain, or increase prices for electrical energy or service are hereby prohibited.

COMMUNICATIONS ACT OF 1934 79

INTERLOCKING DIRECTORATES

SEC. 212.80 After sixty days from the enactment of this Act [June 19, 1934] it shall be unlawful for any person to hold the position of officer or director of more than one carrier subject to this Act, unless such holding shall have been authorized by order of the Commission, upon due showing in form and manner prescribed by the Commission, that neither public nor private interests will be adversely affected thereby: Provided, That the Commission may authorize persons to hold the position of officer or director in more than one such carrier, without regard to the requirements of this section where it has found that one of the two or more carriers directly or indirectly owns more than 50 per centum of the stock of the other or others, or that 50 per centum or more of the stock of all such carriers is directly or indirectly owned by the same person. After this section takes effect it shall be unlawful for any officer or director of any carrier subject to this Act to receive

77 41 Stat. 1070; 16 U.S.C. 803 (h); Public Law 280, 66th Cong. (1920).

78 As amended, Aug. 26, 1935, 49 Stat. 844; 16 U.S.C. 803 (h); Public Law 333, 74th Cong. 79 48 Stat. 1087; 47 U.S.C. 314; Public Law 416, 73d Cong.

80 As amended, Aug. 2, 1956, sec. 1, 70 Stat. 931; 47 U.S.C. 212; Public Law 899, 81st Cong.

for his own benefit directly or indirectly, any money or thing of value in respect of negotiation, hypothecation, or sale of any securities issued or to be issued by such carrier, or to share in any of the proceeds thereof, or to participate in the making or paying of any dividends of such carriers from any funds properly included in capital account.

PRESERVATION OF COMPETITION IN COMMERCE

SEC. 314. After the effective date of this act no person engaged directly, or indirectly through any person directly or indirectly controlling or controlled by, or under direct or indirect common control with, such person, or through an agent, or otherwise in the business of transmitting and/or receiving for hire energy, communications, or signals by radio in accordance with the terms of the license issued under this Act, shall by purchase, lease, construction, or otherwise, directly or indirectly, acquire, own, control, or operate any cable or wire telegraph or telephone line or system between any place in any State, Territory, or possession of the United States or in the District of Columbia, and any place in any foreign country, or shall acquire, own, or control any part of the stock or other capital share or any interest in the physical property and/or other assets of any such cable, wire, telegraph, or telephone line or system, if in either case the purpose is and/or the effect thereof may be to substantially lessen competition or to restrain commerce between any place in any State, Territory, or posession of the United States, or in the District of Columbia, and any place in any foreign country, or unlawfully to create monopoly in any line of commerce; nor shall any person engaged directly, or indirectly through any person directly or indirectly controlling or controlled by, or under direct or indirect common control with, such person, or through an agent, or otherwise, in the business of transmitting and/or receiving for hire messages by any cable, wire, telegraph, or telephone line or system (a) between any place in any State, Territory, or possession of the United States, or in the District of Columbia, and any place in any other State, Territory, or possession of the United States; or (b) between any place in any State, Territory, or possession of the United States, or the District of Columbia, and any place in any foreign country, by purchase, lease, construction, or otherwise, directly or indirectly acquire, own, control, or operate any station or the apparatus therein, or any system for transmitting and/or receiving radio communications or signals between any place in any State, Territory, or possession of the United States, or in the District of Columbia, and any place in any foreign country, or shall acquire, own, or control any part of the stock or other capital share or any interest in the physical property and/or other assets of any such radio station, apparatus, or system, if in either case the purpose is and/or the effect thereof may be to substantially lessen competition or to restrain commerce between any place in any State, Territory, or possession of the United States, or in the District of Columbia, and any place in any foreign country, or unlawfully to create monopoly in any line of commerce.

40-546-65---5

PUBLIC No. 337-SIXTY-SECOND CONGRESS 81

(PANAMA CANAL ACT)

SEC. 11. No vessel permitted to engage in the coast wise or foreign trade of the United States shall be permitted to enter or pass through said canal if such ship is owned, chartered, operated, or controlled by any person or company which is doing business in violation of the provisions of the Act of Congress approved July second, eighteen hundred and ninety, entitled "An Act to protect trade and commerce against unlawful restraints and monopolies", of the provisions of sections seventy-three to seventy-seven, both inclusive, of an Act approved August twenty-seventh, eighteen hundred and ninety-four, entitled "An Act to reduce taxation, to provide revenue for the Government, and for other purposes", or the provisions of any other Act of Congress amending or supplementing the said Act of July second, eighteen hundred and ninety, commonly known as the Sherman Antitrust Act, and amendments thereto, or said sections of the Act of August twenty-seventh, eighteen hundred and ninety-four. The question of fact may be determined by the judgment of any court of the United States of competent jurisdiction in any cause pending before it to which the owners or operators of such ship are parties. Suit may be brought by any shipper or by the Attorney General of the United States.

IMMIGRATION AND NATIONALITY ACT, 1952 82

SEC. 231. (a) Any alien in the United States (including an alien crewman) shall, upon the order of the Attorney General, be deported who

(17) The Attorney General finds to be an undesirable resident of the United States by reason of any of the following, to wit: *** ; has been convicted of any offense * * * committed during the period of August 1, 1914, to April 16, 1917, * * * against the Act entitled "An Act to protect trade and commerce against unlawful restraints and monopolies", approved July 2, 1890, in aid of a belligerent in the European war;

PUBLIC LAW No. 280, SIXTY-SIXTH CONGRESS, 2D SESSION 83

(An Act to create a Federal Power Commission)

SEC. 10. (h) That combinations, agreements, arrangements, or understandings, express or implied, to limit the output of electrical energy, to restrain trade, or to fix, maintain, or increase prices for electrical energy or service are hereby prohibited.

81 37 Stat. 567; 15 U.S.C. 31; Public Law 337, 62d Cong.; also in Canal Zone Code, T. 2, sec. 11 (1934).

82 66 Stat. 204, 207, 208, June 27, 1952; 8 U.S.C. 1251 (a) (17); Public Law 414, 82d Cong.

83 Sec. 10 (h), 41 Stat. 1070; 16 U.S.C. 803 (h), Public Law 280, 66th Cong.

BANK HOLDING COMPANY ACT OF 1956 84

SEC. 11.85 Nothing herein contained shall be interpreted or construed as approving any act, action, or conduct which is or has been or may be in violation of existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding pending or hereafter instituted on account of any prohibited antitrust or monopolistic act, action, or conduct.

FEDERAL ALCOHOL ADMINISTRATION ACT 86

SEC. 2. (g) 87 The provisions, including penalties, of sections 9 and 10 of the Federal Trade Commission Act, as now or hereafter amended, shall be applicable to the jurisdiction, powers, and duties of the Administrator, and to any person (whether or not a corporation) subject to the provisions of laws administered by the Administrator.

SEC. 5.88 It shall be unlawful for any person engaged in business as a distiller, brewer, rectifier, blender, or other producer, or as an importer or wholesaler, of distilled spirits, wine, or malt beverages, or as a bottler, or warehouseman and bottler, of distilled spirits, directly or indirectly or through an affiliate:

(a) Exclusive outlet: To require, by agreement or otherwise, that any retailer engaged in the sale of distilled spirits, wine, or malt beverages, purchase any such products from such person to the exclusion in whole or in part of distilled spirits, wine, or malt beverages sold or offered for sale by other persons in interstate or foreign commerce, if such requirement is made in the course of interstate or foreign commerce, or if such person engages in such practice to such an extent as substantially to restrain or prevent transactions in interstate or foreign commerce in any such products, or if the direct effect of such requirement is to prevent, deter, hinder, or restrict other persons from selling or offering for sale any such products to such retailer in interstate or foreign commerce; or

(b) "Tied house": To induce through any of the following means, any retailer, engaged in the sale of distilled spirits, wine, or malt beverages, to purchase any such products from such person to the exclusion in whole or in part of distilled spirits, wine, or malt beverages sold or offered for sale by other persons in interstate or foreign commerce, if such inducement is made in the course of interstate or foreign commerce, or if such person engages in the practice of using such means, or any of them, to such an extent as substantially to restrain or prevent transactions in interstate or foreign commerce in any such products, or if the direct effect of such inducement is to prevent, deter, hinder, or restrict other persons from selling or offering for sale any such products to such retailer in interstate or foreign

84 70 Stat. 133, May 9, 1956; 12 U.S.C. 1841 ff.; Public Law 511, 84th Cong.

85 70 Stat. 146 (not codified)-carried as a note to sec. 1841, Title 12, U.S.Č.

88 Aug. 29, 1935, ch. 814, 49 Stat. 977; 27 U.S.C. 202 ff.; Public Law 401, 74th Cong. 87 27 U.S.C. 202(c).

By 1940 Reorganization Plan No. 111, secs. 2, 8, and 9, effective June 30, 1940, 5 F.R. 2108, 64 Stat. 1232, the Federal Alcohol Administration was abolished and its functions. records, property, etc. transferred to the Secretary of the Treasury to be administered through Internal Revenue Service.

88 27 U.S.C. 205 (a), (b), (c), and (d).