Public Law 78–81

That any vessel

Return of certain fishing vessels to owners.

formerly used or suitable for use in the fisheries or industries related thereto the title to which has been or may hereafter be acquired by the United States through purchase or requisition may be returned to private ownership in accordance with the provisions of this Act.

Sec. 2.

Every such vessel shall, upon determination by the department

Notification by War Shipping Administrator.

or agency having possession thereof that the vessel is no longer needed or can be spared by such department or agency without detriment to its service, be made available to the Administrator of the War Shipping Administration (hereinafter referred to as the Administrator), who shall notify the owner from whom such vessel was

Repayment to U.S.

purchased or requisitioned that the vessel may be returned to such owner upon repayment to the United States of the compensation paid therefor less such allowances as the Administrator may deem reasonable (1) to cover the cost of such reconditioning as the Administrator and the owner may find necessary to make the vessel suitable for use in the fisheries or industries related thereto (ordinary wear and tear excepted), and (2) to compensate such owner for the use of the vessel by the United States, and upon compliance with such other terms and conditions as the Administrator may prescribe. The determination of such allowances by the Administrator shall be final notwithstanding any other provision of law.

Sec. 3.

If any such owner shall fail, within a reasonable time after

Disposition if owner fails to redeem.

notice (which time shall be specified in the notice but may be extended by the Administrator), to make arrangements satisfactory to the Administrator for such return of the vessel or shall expressly waive the right thereto, the Administrator may advertise the vessel for sale upon competitive sealed bids subject to such terms and conditions as the Administrator may prescribe, including a requirement of assurance that the vessel will not be used, for the period of one year from the date of sale, other than in the fisheries or industries related thereto, without the approval of the Administrator : Provided, however, That the Administrator may reject any bid which does not equal the purchase price or compensation paid or payable by the United States for such vessel less a reasonable allowance to cover the cost of reconditioning as hereinabove defined.

Sec. 4.

The Administrator may withhold from the funds received for the return or sale of any such vessel the expenses incurred by him in such return or sale, and shall pay over the balance of such receipts to the department or agency by which such vessel was made available.