Editorial Notes
Codification
Sections 1901 to 1910 were omitted pursuant to section 1910 which provided that the authority conferred by this chapter expired at the close of .
Pub. L. 91–151, title II, § 20283 Stat. 376Section 1901, , , , related to definitions for this chapter.
Pub. L. 91–151, title II, § 20183 Stat. 376Pub. L. 91–151, , , provided that title II of (this chapter) could be cited as the “Credit Control Act”.
Pub. L. 91–151, title II, § 20383 Stat. 376Section 1902, , , , directed Board of Governors of Federal Reserve System to prescribe regulations to carry out purposes of this chapter.
Pub. L. 91–151, title II, § 20483 Stat. 377Section 1903, , , , related to determination of interest charges in connection with credit transactions.
Pub. L. 91–151, title II, § 20583 Stat. 377Section 1904, , , , related to credit controls.
Pub. L. 91–151, title II, § 20683 Stat. 377Section 1905, , , , related to extent of controls.
Pub. L. 91–151, title II, § 20783 Stat. 378Section 1906, , , , related to reporting of extensions of credit and production of records.
Pub. L. 91–151, title II, § 20883 Stat. 378Section 1907, , , , related to injunctions for noncompliance.
Pub. L. 91–151, title II, § 20983 Stat. 378Section 1908, , , , related to civil penalties.
Pub. L. 91–151, title II, § 21083 Stat. 378Section 1909, , , , related to criminal penalties.
Pub. L. 91–151, title II, § 211Pub. L. 96–508, § 994 Stat. 2749Section 1910, , as added , , , provided that the authority conferred by this chapter expired at the close of .
Statutory Notes and Related Subsidiaries
Council on Wage and Price Stability
Pub. L. 93–38788 Stat. 750Pub. L. 93–449, § 4(e)88 Stat. 1367Pub. L. 94–7889 Stat. 411Pub. L. 95–12191 Stat. 1091Pub. L. 96–1096 Stat. 23Pub. L. 96–50894 Stat. 2748Pub. L. 97–35, title III, § 38395 Stat. 43215 U.S.C. 751, , , as amended by , , ; , §§ 2–7, , , 412; , §§ 1–6, , ; , §§ 1–5, , ; , §§ 1–8, , , 2749; , , , known as the “Council on Wage and Price Stability Act”, provided for the establishment of a Council on Wage and Price Stability and the appointment and compensation of members, chairman, director, and employees; authorized cooperation with other agencies; specified the powers and duties of the Council; directed the establishment and duties of an Office of Productivity; specified that the Act did not authorize the continuation or imposition of economic controls or affect the Emergency Petroleum Allocation Act of 1973 ( et seq.); provided for the disclosure of information; required annual reports; authorized appropriations; and terminated the authority granted by the Act on .
Economic Stabilization Program
Pub. L. 91–379, title II84 Stat. 799Pub. L. 91–558, title II, § 20184 Stat. 1468Pub. L. 92–8, § 285 Stat. 13Pub. L. 92–15, § 385 Stat. 38Pub. L. 92–210, § 285 Stat. 743Pub. L. 93–2887 Stat. 27–29Pub. L. 102–572, title I, § 102(a)106 Stat. 4506, , , as amended by , , ; , , ; , , ; , , ; , §§ 1–8, , ; , , , known as the “Economic Stabilization Act of 1970”, authorized the President, within an established procedural framework, to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers, and establish priorities for use and allocation of supplies of petroleum products, including crude oil, and to issue standards to serve as a guide for determining levels of wages, prices, etc., which would allow for adjustments, exceptions and variations to prevent inequities, taking into account changes in productivity, cost of living and other pertinent factors. The Act provided for limitations on the exercise of Presidential authority and allowed delegation of the performance of any of the President’s functions to appropriate officers, departments and agencies of the United States or to entities composed of members appointed to represent different sectors of the economy and the general public. The Act provided for disclosure of information, subpena power, administrative procedure, criminal and civil sanctions, injunctions and suits for damages and other relief. The Act specified original jurisdiction for judicial review of cases or controversies arising under the Act or regulations issued thereunder in the district courts of the United States, and directed that appeals of final decisions or permitted interlocutory appeals be brought in the United States Court of Appeals for the Federal Circuit. The Act made specific provision for small business and mass transportation systems, required the President to issue periodic reports to Congress, authorized appropriations, and provided for its expiration on .
Exemption From Price Restraints and Allocation Programs of First Sale of Crude Oil and Natural Gas of Certain Leases
Pub. L. 93–153, title IV, § 40687 Stat. 590Pub. L. 94–163, title IV, § 401(b)(4)89 Stat. 946section 406 of Pub. L. 93–153section 401(b)(5) of Pub. L. 94–163, , , provided that the first sale of crude oil and natural gas liquids produced from any lease whose average daily production did not exceed ten barrels per well not be subject to price restraints or any allocation program established pursuant to any Federal law, prior to repeal by , , . For effective date of repeal of , see .
Executive Documents
Ex. Ord. No. 12288. Termination of Wage and Price Regulatory Program
Ex. Ord. No. 12288, , 46 F.R. 10135, provided:
12 U.S.C. 190440 U.S.C. 486(a)40 U.S.C. 121(a)By the authority vested in me as President and as Commander in Chief of the Armed Forces by the Constitution and laws of the United States of America, including Sections 2(c) and 3(a) of the Council on Wage and Price Stability Act, as amended ( note), and Section 205(a) of the Federal Property and Administrative Services Act of 1949, as amended () [now ], and in order to terminate the regulatory burdens of the current wage and price program, it is hereby ordered as follows:
Section 1. Executive Order No. 12092, as amended, is revoked.
Sec. 2. The head of each Executive agency and military department, including the Council on Wage and Price Stability and the Office of Federal Procurement Policy, is authorized to take appropriate steps to terminate actions adopted in response to Executive Order No. 12092, as amended.