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of the existing lease on the Louisville plant. The failure to complete transfer of possession within thirty days after expiration or termination of the existing lease shall not give rise to or be the basis of rescission of the contract of sale."

SEC. 2. Notwithstanding the provisions of section 3 (d) of the Rubber Producing Facilities Disposal Act of 1953, the Rubber Producing Facilities Disposal Commission (hereinafter referred to as the "Commission"), before submission to the Congress of its report relative to the Louisville plant, 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.

SEC. 3. Notwithstanding the provisions of section 4 of Public Law 336, Eightyfourth Congress, approved August 9, 1955, of section 4 of Public Law 19, Eightyfourth Congress, approved March 31, 1955, and section 20 of the Rubber Producing Facilities Disposal Act of 1953, the Commission established by the lastmentioned Act shall cease to exist at the close of the ninetieth day following the termination of the review period provided for in section 27 (c) of that Act, unless no sale of the Louisville plant is recommended by the Commission pursuant to section 27 (c) of that Act, in which event the Commission shall cease to exist at the close of the ninetieth day following the termination of the maximum period allowed for negotiation in section 27 (b).

SEC. 4. (a) Notwithstanding the provisions of section 9 (d) and notwithstanding the period of lease limitation in section 9 (f) of the Rubber Producing Facilities Disposal Act of 1953, the Commission or its successor may, provided the period for receipt of proposals for the purchase of the Louisville plant has expired as provided in section 27 (a) of that Act and no proposal or contract for the purchase of the Louisville plant is then pending or in effect, extend the existing lease or enter into a new lease on the Louisville plant for a term of not less than five years nor more than fifteen years from the date of termination of said existing lease.

(b) Notwithstanding the provisions of sections 8 (a) (3) and 9 (f) of the Rubber Producing Facilities Disposal Act of 1953 relating to the period for review by the Attorney General, the Commission, before submission to the Congress of a lease or lease extension relative to the Louisville plant, shall submit it to the Attorney General, who shall, within seven days after receiving the lease or lease extension, advise the Commission whether the proposed lease or lease extension would tend to create or maintain a situation inconsistent with the antitrust laws.

(c) Within ten days after the termination of the lease negotiations authorized in subsection (a) of this section, or, if Congress is not then in session, within ten days after Congress next convenes, the Commission shall report to the Congress the lease or lease extension negotiated pursuant to this section. The Commission shall submit at the same time the statement of the Attorney General approving the proposed lease or lease extension in accordance with the standard set forth in subsection (b) of this section, and the names of the persons who have represented the Government or lessee in conducting negotiations for the lease or lease extension on the Louisville plant. Unless the lease or lease extension is disapproved by either House of the Congress by resolution prior to the expiration of thirty days of continuous session (as defined in section 9 (c) of the Rubber Producing Facilities Disposal Act of 1953) of the Congress following the date upon which the lease or lease extension is submitted to it, upon the expiration of such thirty-day period the lease or lease extension shall become fully effective and the Commission shall proceed to carry it out in accordance with its terms.

Sec. 5. Except as otherwise provided in this Act, the disposal or lease of the Louisville plant shall be fully subject to all the provisions of the Rubber Producing Facilities Disposal Act of 1953 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), 10, 15 and 24 of that Act shall not apply to the disposal or lease of the Louisville plant.

Sec. 6. (a) Notwithstanding any provision of the Rubber Producing Facilities Disposal Act of 1953, as amended, or of this Act, the Rubber Producing Facilities Disposal Commission may enter into contracts of sale and may from time to time enter into leases for all or any part of the catalyst manufacturing equipment now situated in Baltimore, Maryland, and generally described in the Commission's brochure M-2 dated March 1954.

(b) Except as provided in this paragraph, each such lease or contract may be made on such terms and conditions, including type of use and duration (up to fifteen years) of any lease, as the Commission deems advisable in the publie interest. Before making such sale or lease, the Commission shall secure the advice of the Attorney General as to whether the proposed sale or lease would tend to create or maintain a situation inconsistent with the antitrust laws. Each such lease or contract of sale shall contain a national security clause, containing such terms and for such duration (ten years or less) as the Commission deems desirable in the public interest, and any such lease shall provide for the recapture of the equipment thereby leased and the termination of the lease, if the President determines that the national interest so requires.

The price for any part or all of such equipment shall be an amount which the Commission determines to be the maximum amount obtainable in the public interest, but not less than fair value as determined by the Commission.

(c) Any of such equipment not sold or leased under subsection (a) shall be placed and maintained in adequate standby condition pursuant to, and be otherwise subject to, the provisions of section 8 of the Rubber Producing Facilities Disposal Act of 1953 (other than the provision prohibiting leases).

(d) All the powers and authority conferred by this section upon the Commission may, after the termination of the existence of the Commission, be exercised by such agency of the Government as the President may designate for the purpose, and for this purpose such successor agency may exercise all the authority conferred in the Rubber Producing Facilities Disposal Act of 1953 upon the Commission.

Approved March 21, 1956.

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