74TH CONGRESS . SESS. I. CH. 498. AUGUST 9, 1935 .
555 `' SUSPENSION CHANGE, RE VOCATIO N, AND TRANSF ER OF C ERTIFI CATES C ertific ates, permits , and licenses . PERMITS, AND LICENSES " SEC. 212 . (a) Certificates, permits, and licenses shall be effective Effective dates of . from the date specified therein, and shall remain in effect until ter- minated as herein provided . Any such certificate, permit, or license tion. revoca , may, upon application of the holder thereof, in the discretion of the Commission, be amended or revoked, in whole or in part, or may upon complaint, or on the Commission's own initiative, after notice and hearing, be suspended, changed, or revoked, in whole or in part, for willful failure to comply with any provision of this part, or with any lawful order, rule, or regulation of the Commission promulgated thereunder, or with any term, condition, or limitation of such certifi- cate, permit, or license : Provided, however, That no such certificate, w•ifnl nonoompli- permit, or license shall be revoked (except upon application of the an ce wi th Com mis . holder) unless the holder thereof willfully fails to comply, within a lion's order, etc . reasonable time, not less than ninety days, to be fixed by the Commis- sion, with a lawful order of the Commission, made as provided in se cti on 204 (d), commanding obedience to the provision of this part, or to the rule or regulation of the Commission thereunder, or to the term , con ditio n, or limit ation of su ch cer tific ate, p ermit , or l icens e, found by the Commission to have been violated by such holder . "(b) Except as provided in section 213, any certificate or permit transfer Certificate of. e or permit; may be transferred, pursuant to such rules and regulations as the Commission may prescribe . " CONSOLIDATION, MERGER AND ACQUISITION OF CONTROL Conso11dation, me rger , and acqu isit ion of control . " SEC . 213 . (a) It shall be lawful, under the conditions specified Lawful acts. below, but under no other conditions, for two or more motor carriers which are not also carriers by railroad to consolidate or merge their properties, or any part thereof, into one corporation for the owner- ship, management, and/or operation of the properties theretofore in separate ownership ; or fo r any such motor carrier or two or more such carriers jointly, to purchase, lease, or contract to operate the properties, or any part thereof, of another such carrier ; or for any such motor carrier or two or more such carriers jointly, to acquire control of another such carrier through purchase of its stock ; or for a person which is not a motor carrier or a carrier by railroad, or express, or water to acquire control of two or more motor carriers through ownership of their stock ; or for any such person which has control of one or more motor carriers to acquire control of anothe r such carrier through ownersh ip of its stock
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for a carrier by railroad, express, or water to consolidate, or merge with, or acquire control of, any motor carrier or to purchase, lease, or contract to operate its properties, or any part thereof . "(1) Whene ver a conso lidati on, me rger, purch ase, l ease, opera t- ln Application for ; fir. ing contr act, or acq uisit ion of cont rol is prop osed u nder this s ectio n, the carrier or carriers or the person seeking authority therefor shall present an application to the Commission, and thereupon the Corn- Notification required . mission shall notify the Governor of each State in which any part of the properties or operations of the carriers involved in the pro- pose d tra nsact ion is situ ated, and a lso su ch ca rriers and the ap plica nt or applicants, and other parties known to have a substantial interest in the proceeding of the time and place for a . public hearing . If Hearings. after such hearing the Commission finds that the transaction pro- posed will be consistent with the public interest and that the con- ditions of this section have been or will be fulfilled, it may enter Commission's order. an order approving and authorizing such consolidation, merger, purchase, lease, operating contract, or acquisition of control, upon
