1988埃克森—费罗里奥修正案(EnglishVersion).docVIP

The Exon–Florio Amendment 50 U.S.C. app 2170 is a law that was enacted by the United States Congress in 1988 to review foreign investment within the United States. The amendment was passed into law under the Omnibus Trade and Competitiveness Act of 1988 and amended Section 721 of Defense Production Act of 1950. All foreign investments that might affect national security may be reviewed and if deemed to pose a threat to security, the President of the United States, may block the investment. According to the amendment, the president may block the investment when there is credible evidence that leads the President to believe that the foreign interest exercising control might take action that threatens to impair the national security. President Reagan delegated the review process to the Committee on Foreign Investment in the United States. The amendment was sponsored by Senator J. James Exon and Representative James J. Florio. The amendment was proposed over concerns of foreign acquisitions by Japanese businesses . §?2170. Authority to review certain mergers, acquisitions, and takeovers (a) Definitions For purposes of this section, the following definitions shall apply: (1) Committee; chairperson The terms “Committee” and “chairperson” mean the Committee on Foreign Investment in the United States and the chairperson thereof, respectively. (2) Control The term “control” has the meaning given to such term in regulations which the Committee shall prescribe. (3) Covered transaction The term “covered transaction” means any merger, acquisition, or takeover that is proposed or pending after August 23, 1988, by or with any foreign person which could result in foreign control of any person engaged in interstate commerce in the United States. (4) Foreign government-controlled transaction The term “foreign government-controlled transaction” means any covered transaction that could result in the control of any person engaged in interstate commerce in the United State