106 STAT. 2464 PUBLIC LAW 102-484—OCT. 23, 1992
- (b) MANDATORY INVESTIGATIONS. — The President or the President's designee shall make an investigation, as described in subsection (a), in any instance in which an entity controlled by or
acting on behalf of a foreign government seeks to engage in any merger, acquisition, or takeover which could result in control of a person engaged in interstate commerce in the United States that could aiiect the national security of the United States. Such investigation shall— "(1) commence not later than 30 d£nrs after receipt by the President or the President's designee of written notification of the proposed or pending merger, acquisition, or takeover, as prescribed by regulations promulgated pursuant to this section; and "(2) shall be completed not later than 45 days after its commencement.". (b) CONSIDERATIONS OF THE PRESIDENT. — Section 721(f) of the Defense Production Act of 1950 (50 U.S.C. App. 2170(f)) (as redesignated by subsection (a)) is amended— (1) in paragraph (2), by striking "and" at the end; (2) in paragraph (3), by striking the period and inserting a comma; and (3) by adding at the end the following new paragraphs: (4) the potential effects of the proposed or pending transaction on sales of military goods, equipment, or technology to any country— "(A) identified by the Secretary of State— "(i) under section 6(j) of the Export Administration Act of 1979, as a country that supports terrorism;
- (ii) under section 6(1) of the Export Administration
Act of 1979, as a country of concern regarding missile proliferation; or "(iii) under section 6(m) of the Export Administration Act of 1979, as a country of concern regarding the proliferation of chemical and biological weapons; or "(B) listed under section 309(c) of the Nuclear Non- Proliferation Act of 1978 on the *Nuclear Non-Proliferation- Special Country List' (15 C.F.R. Part 778, Supplement No. 4) or any successor list; and "(5) the potential effects of the proposed or pending transaction on United States international technological leadership in areas affecting United States national security.". (c) REPORT. —Section 721(g) of the Defense Production Act of 1950 (50 U.S.C. App. 2170(f)) (as redesignated by subsection (a)) is amended to read as follows: "(g) REPORT TO THE CONGRESS.— The President shall immediately transmit to the Secretary of the Senate and the Clerk of the House of Representatives a written report of the President's determination of whether or not to take action under subsection (d), including a detailed explanation of the findings made under subsection (e) and the factors considered under subsection (f). Such report shall be consistent with the requirements of subsection (c) of this Act.". (d) SENSE OF THE CONGRESS REGARDING THE COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES.—I t is the sense of the Congress that the President should include in the membership
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