Page:United States Statutes at Large Volume 60 Part 1.djvu/694

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60 STAT.] 79TH CONG. , 2D SESS.-CH. 671-JULY 25, 1946 "(7) No maximum price and no regulation or order under this Act or the Stabilization Act of 1942, as amended, shall be applicable with respect to poultry or eggs or food or feed products processed or manufactured in whole or substantial part therefrom, or in the case of leaf tobacco or tobacco products processed or manufactured in whole or substantial part therefrom, except that, after August 20, 1946, maximum prices with respect thereto may be reestablished pursuant to the provisions of paragraph (3) of this subsection (e), but only under the standards prescribed in paragraph (8) (C) of this subsection (e). "(8) (A) No maximum price and no regulation or order under this Act or the Stabilization Act of 1942, as amended, shall be applicable prior to August 21, 1946, with respect to livestock, milk, or food or feed products processed or manufactured in whole or substantial part from livestock or milk; with respect to cottonseed or soybeans, or food or feed products processed or manufactured in whole or substantial part from cottonseed or soybeans; with respect to grains for which standards have been established under the United States Grain Standards Act, as amended, or any live- stock or poultry feed processed or manufactured in whole or substantial part therefrom. "(B) The Price Decontrol Board shall proceed forthwith to con- sider whether the commodities listed in subparagraph (A) shall continue, after August 20, 1946, to be free from regulation under this Act and the Stabilization Act of 1942, as amended. Such Board, after due notice of a public hearing and full opportunity for representatives of affected industries and consumers to present their views orally or in writing, shall have power to determine whether or not any commodity listed in subparagraph (A) shall be regulated after August 20, 1946, under this Act and the Stabilization Act of 1942, as amended. Such Board shall direct that any such commodity shall not be so regulated unless it finds: "(i) that the price of such commodity has risen unreasonably above a price equal to the lawful maximum price in effect on June 30, 1946, plus the amount per unit of any subsidy payable with respect thereto as of June 29,1946, and "(ii) that such commodity is in short supply and that its regulation is practicable and enforceable, and " (iii) that the public interest will be served by such regulation. If in the case of any commodity listed in subparagraph (A) such Board fails to direct, on or before August 20, 1946, that such com- modity shall not be regulated under this Act and the Stabilization Act of 1942, as amended, maximum prices and regulations and orders under such Acts shall be applicable with respect to such commodity without regard to this paragraph (8). "(C) If in the case of any commodity listed in subparagraph (A) such Board, on or before August 20, 1946, does direct that such com- modity shall not be regulated under such Acts, the Board may at any subsequent time direct that such commodity shall be so regulated if it finds: "(i) that the price of such commodity has risen unreasonably above a price equal to the lawful maximum price in effect on June 30, 1946, plus the amount per unit of any subsidy payable with respect thereto as of June 29,1946; and "(ii) that such commodity is in short supply and that its regu- lation is practicable and enforceable; and "(iii) that the public interest will be served by such regulation. Thereafter, the provisions of such Acts and regulations and orders 667 Poultry, etc. 56 Stat. 765. 50 U. S. O., Supp. V, app. §§ 961-964, 965-971. Ante, p. 664; pot, p. 677. Tobacco. Livestock and milk. Supra. Cottonseed or soy- beans. Grains. 39 Stat. 482. 7 U.S. C. 1§71-87. Powers, etc., of Price Decontrol Board. Supra. Regulation of com- modities. 66 Stat. 765. 50 U. 8. C., Supp. v, app. i§ 961-96, 965-071. Ante, p. 864; port p. 677. &Sapr-