Volume 79
Public Law 89–93
To amend paragraph (10) of section 5 of the Interstate Commerce Act so as to change the basis for determining whether a proposed unification or acquisition of control comes within the exemption provided for by such paragraph.
Approved July 27, 1965
Statutory text
AN ACT
To amend paragraph (10) of section 5 of the Interstate Commerce Act so as to change the basis for determining whether a proposed unification or acquisition of control comes within the exemption provided for by such paragraph.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the first subparagraph of paragraph (10) of section 5 of the Interstate Commerce Act (49 U.S.C. 5(10)) is amended to read as follows:
“(10) Nothing in this section shall be construed to require the approval or authorization of the Commission in the case of a transaction within the scope of paragraph (2) where the only parties to the
transaction are motor carriers subject to part II (but not including a motor carrier controlled by or affiliated with a carrier as defined in section
1(3)), and where the aggregate gross operating revenues of such carriers have not exceeded $300,000 for a period of twelve consecutive months ending not more than six months preceding the date of the agreement of the parties covering the transaction,”
Sec. 2.
The amendment made by the first section of this Act shall apply only with respect to agreements entered into on or after the sixtieth day after the date of enactment of this Act.
Approved July 27, 1965.