15 U.S.C. § 4501 | Restitutionary amounts covered

(a)

In general

section 4504 of this titleThis chapter (other than )—

(1)

15 U.S.C. 751 specifies the procedure for the disbursement of funds collected, including interest thereon, by the Secretary or the courts pursuant to the Emergency Petroleum Allocation Act of 1973 [ et seq.] or the Economic Stabilization Act of 1970 (and the regulations issued thereunder) as restitution for actual or alleged violations of such Acts or regulations; and

(2)

subject to subsection (c), applies to—

(A)

October 21, 1986 any amount of such funds held in escrow by the Secretary through accounts administered by the Secretary of the Treasury on or after ; and

(B)

any amount of such funds determined at any time, pursuant to judicial or administrative proceedings (including any settlement agreement or declaratory judgment) instituted by the Secretary to enforce such Acts and regulations, to be amounts paid for such actual or alleged violations, including any such amounts held in escrow by any court.

(b)

Special rule

October 21, 1986Amounts described in subsection (a)(2) and held in an escrow account by a court before , may continue to be held by such court but shall be disbursed, together with any interest thereon, by the Secretary or, as appropriate, by the court only in accordance with the provisions of this chapter.

(c)

Exclusions

Subsection (a)(2) does not apply to—

(1)

October 21, 1986section 155 of Public Law 97–377 any amount actually disbursed before , to any person or class of persons pursuant to or any final judicial or administrative order or judgment (including any settlement agreement or declaratory judgment);

(2)

July 7, 1986 any amount to which any person or class of persons has an enforceable right, created or vested, or governed by the terms and conditions of the settlement approved on , in In Re: the Department of Energy Stripper Well Exemption Litigation, M.D.L. No. 378, in the United States District Court for the District of Kansas; and

(3)

any amount designated by judicial or administrative order or judgment (including any settlement agreement or declaratory judgment) for disbursement at any time to any specific person or class of persons—

(A)

identified in such order or judgment as injured by the violation or alleged violation of the Acts described in subsection (a)(1) (including the regulations thereunder); or

(B)

October 21, 1986 identified in such order or judgment issued before , for indirect restitution.

(d)

Escrow accounts

Subject to subsections (b) and (c), the amounts covered by subsection (a) shall be held in appropriate escrow accounts administered for the Secretary by the Secretary of the Treasury.

(e)

Interest

Consistent with the disbursement requirements of this chapter, the Secretary of the Treasury shall provide that amounts described in subsection (a) shall earn interest at the maximum rate earned on investments of Federal trust funds by the Secretary of the Treasury in short-term and long-term securities issued by the Federal Government (including minority bank investments).

Pub. L. 99–509, title III, § 3002Oct. 21, 1986100 Stat. 1881(, , .)

Editorial Notes

References in Text

Pub. L. 93–159Nov. 27, 197387 Stat. 628 section 760g of this titleSept. 30, 1981The Emergency Petroleum Allocation Act of 1973, referred to in subsec. (a)(1), is , , , which was classified generally to chapter 16A (§ 751 et seq.) of this title, was omitted from the Code pursuant to , which provided for the expiration of the President’s authority under that chapter on .

Pub. L. 91–379Aug. 15, 197084 Stat. 799 section 1904 of Title 12The Economic Stabilization Act of 1970, referred to in subsec. (a)(1), is title II of , , , formerly set out as an Economic Stabilization Provisions note under , Banks and Banking.

Section 155 of Public Law 97–377 section 155 of Pub. L. 97–377Dec. 21, 198296 Stat. 1919, referred to in subsec. (c)(1), is , title I, , , which is not classified to the Code.

Statutory Notes and Related Subsidiaries

Short Title

Pub. L. 99–509, title III, § 3001Oct. 21, 1986100 Stat. 1881

Pub. L. 99–509“This subtitle [subtitle A (§§ 3001–3008) of title III of , enacting this chapter] may be cited as the ‘Petroleum Overcharge Distribution and Restitution Act of 1986’.”

, , , provided that: