50 U.S.C. 4565: Authority to review certain mergers, acquisitions, and takeovers

2021

• Pub. L. 116–283, §9721(a)(1), inserted "or assessment" after "review" in heading and substituted "this subsection that concludes action under this section, or upon the Committee making a notification under paragraph (1)(C)(v)(III)(aa)(DD)" for " subsection (b) that concludes acti… (William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021) Law text · (b)
• Pub. L. 116–283, §9721(a)(2), added subcl. (III). (William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021) Law text · (b)

2018

• Pub. L. 115–232, §1703, amended subsec. (a) generally. Prior to amendment, subsec. (a) defined the terms "Committee", "chairperson", "control", "covered transaction", "foreign government-controlled transaction", "critical infrastructure", "critical technologies", and "lead agency" for … (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (a)
• Pub. L. 115–232, §1704, designated existing provisions as subcl. (I), inserted heading, and added subcl. (II). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §§1705–1707, added cls. (iv) to (vi). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(2)(A), substituted "subparagraph (G)" for "subparagraph (F)" in introductory provisions. (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(2)(B), inserted "(other than a covered transaction described in subparagraph (E))" after "any covered transaction". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(2)(C), added cl. (ii) and struck out former cl. (ii) which read as follows: "any covered transaction that has previously been reviewed or investigated under this section, if any party to the transaction submitted false or misleading material information… (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(2)(D)(i), substituted "any covered transaction described in subparagraph (E)," for "any covered transaction that has previously been reviewed or investigated under this section," in introductory provisions. (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1725(1)(A), substituted "subsection (l)(3)(A)" for "subsection (l)(1)(A)". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(2)(D)(ii), struck out "intentionally" before "materially breaches". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(2)(D)(iii), substituted "a material breach" for "an intentional material breach". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(2)(D)(iv), inserted "adequate and appropriate" before "remedies or enforcement tools". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(3), added subpar. (E). Former subpar. (E) redesignated (F). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1709(1), which directed the substitution of "45" for "30", was executed by substituting "45-day" for "30-day", to reflect the probable intent of Congress. (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(1), redesignated subpar. (E) as (F). Former subpar. (F) redesignated (G). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1708(1), redesignated subpar. (F) as (G). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1710, added subpar. (H). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1725(1)(B), substituted "the risk" for "that threat". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1709(2), added subpar. (C) and struck out former subpar. (C). Prior to amendment, text read as follows: "Any investigation under subparagraph (A) shall be completed before the end of the 45-day period beginning on the date on which the investigation commenced." (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1711(1), added subcl. (II) and struck out former subcl. (II) which read as follows: "identification of the determinative factors considered under subsection (f)." (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1711(2), added subcl. (II) and struck out former subcl. (II) which was comprised of introductory provisions and items (aa) and (bb) relating to limitation on delegation of certifications. (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1711(3), added cl. (v). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1712(1), added subpar. (A) and struck out former subpar. (A). Prior to amendment, text read as follows: "The Director of National Intelligence shall expeditiously carry out a thorough analysis of any threat to the national security of the United States posed by … (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1712(2)–(4), added subpar. (B), redesignated former subpars. (B) to (D) as (C) to (E), respectively, and in subpar. (C) substituted "30" for "20". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1712(5), added subpars. (F) and (G). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b), (G)
• Pub. L. 115–232, §1709(3), added par. (8). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (b)
• Pub. L. 115–232, §1713(1), (2), designated existing provisions as par. (1), inserted heading, substituted "Except as provided in paragraph (2), any information" for "Any information", and struck out at end ", except as may be relevant to any administrative or judicial action or proc… (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (c)
• Pub. L. 115–232, §1713(3), added pars. (2) and (3). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (c), (3)
• Pub. L. 115–232, §1714, substituted "with respect to a covered transaction not later than 15 days after the earlier of— (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (d)
• Pub. L. 115–232, §1725(2), substituted "a foreign person that would acquire an interest in a United States business or its assets as a result of the covered transaction" for "the foreign interest exercising control". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (d)
• Pub. L. 115–232, §1715, designated existing provisions as par. (1), inserted heading, and added pars. (2) to (4). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (e)
• Pub. L. 115–232, §1716(1), (2), redesignated par. (3) as (2) and struck out former par. (2). Prior to amendment, text read as follows: "Regulations issued under this section shall become effective not later than 180 days after the effective date of the Foreign Investment and Nationa… (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (h)
• Pub. L. 115–232, §1716(3)(A), substituted "including any mitigation agreement entered into, conditions imposed, or order issued pursuant to this section" for "including any mitigation agreement entered into or conditions imposed pursuant to subsection (l)". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (h)
• Pub. L. 115–232, §1716(3)(B)–(D), added subpar. (D). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (h)
• Pub. L. 115–232, §1716(2), redesignated par. (3) as (2). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (h)
• Pub. L. 115–232, §1725(3), substituted "transaction" for "merger, acquisition, or takeover". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (j)
• Pub. L. 115–232, §1717(a), added par. (4) and struck out former par. (4). Prior to amendment, text read as follows: "There shall be established an additional position of Assistant Secretary of the Treasury, who shall be appointed by the President, by and with the advice and consent … (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (k)
• Pub. L. 115–232, §1718(1), substituted "Actions by the Committee to address national security risks" for "Mitigation, tracking, and postconsummation monitoring and enforcement" in heading. (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(3), added pars. (1) and (2). Former pars. (1) and (2) redesignated (3) and (5), respectively. (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l), (2)
• Pub. L. 115–232, §1718(2), redesignated par. (1) as (3). Former par. (3) redesignated (6). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(4)(A), substituted "Agreements and conditions" for "In general" in subpar. heading, designated existing provisions as cl. (i), inserted cl. heading, substituted "risk" for "threat", and added cls. (ii) and (iii). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(4)(B), added subpars. (B) to (D) and struck out former subpar. (B). Prior to amendment, text of subpar. (B) read as follows: "Any agreement entered into or condition imposed under subparagraph (A) shall be based on a risk-based analysis, conducted by… (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(5), added par. (4). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(2), redesignated par. (2) as (5). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(6), struck out "(as defined in the National Security Act of 1947)" after "intelligence community". (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(2), redesignated par. (3) as (6). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(7)(A), substituted "paragraph (3)" for "paragraph (1)" and "The lead agency may, at its discretion, seek and receive the assistance of other departments or agencies in carrying out the purposes of this paragraph" for "Nothing in this paragraph shall prohibi… (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(7)(B), struck out "(i) Modification reports" before "The lead agency", redesignated former subcls. (I) and (II) as cls. (i) and (ii), respectively, and struck out former cl. (ii). Prior to amendment, text of cl. (ii) read as follows: "The Committee shall de… (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1718(7)(C), added subpars. (C) to (G). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (l)
• Pub. L. 115–232, §1719(a)(1)(A), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "A list of all notices filed and all reviews or investigations completed during the period, with basic information on each party to the transaction, the nature of the … (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (m)
• Pub. L. 115–232, §1719(a)(1)(B), added subpars. (G) to (K). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (m)
• Pub. L. 115–232, §1719(a)(2), struck out "(A) In general" before "In order to assist", redesignated former cls. (i) and (ii) as subpars. (A) and (B), respectively, added subpar. (C), and struck out former subpar. (B), which related to release of an unclassified version of the report. (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (m)
• Pub. L. 115–232, §1719(a)(3), added par. (4). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (m)
• Pub. L. 115–232, §1720, designated existing provisions as par. (1), inserted heading, in introductory provisions substituted "paragraph (6)(B)" for "paragraph (3)(B)" and "paragraph (3)(A)" for "paragraph (1)(A)", redesignated former pars. (1) and (2) as subpars. (A) and (B), respectiv… (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (n)
• Pub. L. 115–232, §1721(c), added subsec. (o). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (o)
• Pub. L. 115–232, §1723, added subsec. (p). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (p)
• Pub. L. 115–232, §1724, added subsec. (q). (John S. McCain National Defense Authorization Act for Fiscal Year 2019) Law text · (q)

2007

• Pub. L. 110–49, §2, added subsec. (a) and struck out former subsec. (a). Prior to amendment, text read as follows: "The President or the President's designee may make an investigation to determine the effects on national security of mergers, acquisitions, and takeovers proposed or pend… Law text · (a)
• Pub. L. 110–49, §2, added subsec. (b) and struck out former subsec. (b). Prior to amendment, text read as follows: "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 behal… Law text · (b)
• Pub. L. 110–49, §6, added subsec. (d) and struck out former subsec. (d). Prior to amendment, text read as follows: "Subject to subsection (d), the President may take such action for such time as the President considers appropriate to suspend or prohibit any acquisition, merger, or take… Law text · (d)
• Pub. L. 110–49, §6, added subsec. (e) and struck out former subsec. (e). Prior to amendment, text read as follows: "The President may exercise the authority conferred by subsection (c) only if the President finds that— Law text · (e)
• Pub. L. 110–49, §4(1), struck out "among other factors" after "consider" in introductory provisions. Law text · (f)
• Pub. L. 110–49, §4(2)(A)–(C), added subpar. (B) and redesignated former subpar. (B) as (C). Law text · (f), (C)
• Pub. L. 110–49, §4(2)(D)–(4), added pars. (6) to (11). Law text · (f)
• Pub. L. 110–49, §7(a), amended subsec. (g) generally. Prior to amendment, text read as follows: "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 … Law text · (g)
• Pub. L. 110–49, §9, amended subsec. (h) generally. Prior to amendment, text read as follows: "The President shall direct the issuance of regulations to carry out this section. Such regulations shall, to the extent possible, minimize paperwork burdens and shall to the extent possible co… Law text · (h)
• Pub. L. 110–49, §10, amended subsec. (i) generally. Prior to amendment, text read as follows: "Nothing in this section shall be construed to alter or affect any existing power, process, regulation, investigation, enforcement measure, or review provided by any other provision of law." Law text · (i)
• Pub. L. 110–49, §3, added subsec. (k) and struck out former subsec. (k) which defined "critical technologies" and required the President and such agencies as the President shall designate to submit quadrennial reports, which could be classified, to Congress concerning credible evidence… Law text · (k)
• Pub. L. 110–49, §5, added subsec. (l). Law text · (l)
• Pub. L. 110–49, §7(b), added subsec. (m). Law text · (m)
• Pub. L. 110–49, §8, added subsec. (n). Law text · (n)

1994

• Pub. L. 103–359 inserted "or directly assisted" after "directed". · (k)

1992

• Pub. L. 102–484, §837(a), added subsec. (b) and redesignated former subsecs. (b) to (d) as (c) to (e), respectively. Former subsec. (e) redesignated (f). · (b), (c), (d), (e)
• Pub. L. 102–484, §837(a)(1), (b), redesignated subsec. (e) as (f) and added pars. (4) and (5). Former subsec. (f) redesignated (g). · (f)
• Pub. L. 102–484, §837(c), amended subsec. (g) generally. Prior to amendment, subsec. (g) read as follows: "If the President determines to take action under subsection (c), the President shall immediately transmit to the Secretary of the Senate and the Clerk of the House of Representati… · (g)
• Pub. L. 102–484, §837(a)(1), redesignated subsec. (f) as (g). Former subsec. (g) redesignated (h). · (g)
• Pub. L. 102–484, §837(a)(1), redesignated subsecs. (g) and (h) as (h) and (i), respectively. · (h), (i)
• Pub. L. 102–484, §837(e), added subsec. (j). · (j)
• Pub. L. 102–558 added subsec. (k). · (k)