50a U.S. Code Rule - Prohibition on purchase of United States defense contractors by entities controlled by foreign governments

(a) In general
No entity controlled by a foreign government may merge with, acquire, or take over a company engaged in interstate commerce in the United States that—
(1) is performing a Department of Defense contract, or a Department of Energy contract under a national security program, that cannot be performed satisfactorily unless that company is given access to information in a proscribed category of information; or
(2) during the previous fiscal year, was awarded—
(A) Department of Defense prime contracts in an aggregate amount in excess of $500,000,000; or
(B) Department of Energy prime contracts under national security programs in an aggregate amount in excess of $500,000,000.
(b) Inapplicability to certain cases
The limitation in subsection (a) shall not apply if a merger, acquisition, or takeover is not suspended or prohibited pursuant to section 721 of the Defense Production Act of 1950 (50 App. U.S.C. 2170).
(c) Definitions
In this section:
(1) The term “entity controlled by a foreign government” includes—
(A) any domestic or foreign organization or corporation that is effectively owned or controlled by a foreign government; and
(B) any individual acting on behalf of a foreign government,
as determined by the President.
(2) The term “proscribed category of information” means a category of information that—
(A) with respect to Department of Defense contracts—
(i) includes special access information;
(ii) is determined by the Secretary of Defense to include information the disclosure of which to an entity controlled by a foreign government is not in the national security interests of the United States; and
(iii) is defined in regulations prescribed by the Secretary of Defense for the purposes of this section; and
(B) with respect to Department of Energy contracts—
(i) is determined by the Secretary of Energy to include information described in subparagraph (A)(ii); and
(ii) is defined in regulations prescribed by the Secretary of Energy for the purposes of this section.

Source

(Pub. L. 102–484, div. A, title VIII, § 835,Oct. 23, 1992, 106 Stat. 2461.)
Codification

Section was enacted as part of the National Defense Authorization Act for Fiscal Year 1993, and not as part of the Defense Production Act of 1950 which comprises sections 2061 to 2170, 2171, and 2172 of this Appendix.

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50aa USCDescription of ChangeSession YearPublic LawStatutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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10 CFR - Energy

10 CFR Part 217 - ENERGY PRIORITIES AND ALLOCATIONS SYSTEM

49 CFR - Transportation

49 CFR Part 33 - TRANSPORTATION PRIORITIES AND ALLOCATION SYSTEM

 

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