54 STAT.] 76TH CONG., 3D SESS.-CH. 722-SEPT. 18, 1940 vessels carrying passengers only and equipped to carry no more than sixteen passengers, or to ferries, or to the movement by water carriers of contractors' equipment employed or to be employed in construction or repair for such water carrier, or to the operation of salvors. "(h) The Commission shall have the power to determine, upon its own motion or upon application of any party in interest, whether any water carrier is engaged solely in transporting the property of a person which owns all or substantially all of the voting stock of such carrier. Upon so finding the Commission shall issue a certificate of exemption to such carrier, and such carrier shall not be subject to the provisions of this part during the period such certificate shall remain in effect. At any time after the issuance of such certificate the Com- mission may by order revoke such certificate if it finds that such carrier is no longer entitled to the exemption under the foregoing provisions of this subsection. Upon revocation of any such certificate the Commission shall restore to such carrier, without further proceed- ings, the authority, if any, to engage in transportation subject to the provisions of this part held by such carrier at the time the certificate of exemption pertaining to such carrier became effective. No certifi- cate of exemption shall be denied and no order of revocation shall be issued, under this subsection, except after reasonable opportunity for hearing. "(i) In the application of the provisions of this part to any carrier owned or controlled by the United States, no different policy, rule of rate making, system of accounting, or method of determining costs of service, value of property, or rate of return shall be applied than is applied in the case of carriers not so owned or controlled. "(j) Nothing in this part shall be construed to interfere with the exclusive exercise by each State of the power to regulate intrastate commerce by water carriers within the jurisdiction of such State. "(k) Nothing in this part shall authorize the Commission to pre- scribe or regulate any rate, fare, or charge for intrastate transpor- tation, or for any service connected therewith, for the purpose of removing discrimination against interstate commerce or for any other purpose. "(1) Whenever transportation exempted under the provisions of subsection (g), or by order of the Commission under subsection (e), becomes subject to the provisions of this part, the carrier may con- tinue to engage in such transportation for a period of one hundred and twenty days without a certificate or permit covering such trans- portation, and, if application for a certificate or permit covering such transportation is made to the Commission within such period, the Commission shall, without further proceedings, issue to the carrier a certificate or permit, whichever is appropriate, authorizing such transportation previously exempted. 933 Transportation of owner's, etc., prop- erty. Certificate of ex- emption. Revocation. Carrier under U. S . control. State regulatory powers. Intrastate transpor- tation. Authorization of transportation previ- ously exempted. " GENERAL POWERS AND DUTIES OF THE COMMISSION "SEc. 304. (a) It shall be the duty of the Commission to administer the provisions of this part, and to that end the Commission shall have authority to make and amend such general or special rules and regula- tions and to issue such orders as may be necessary to carry out such provisions. "(b) The Commission shall have authority, for purposes of the administration of the provisions of this part, to inquire into and report on the management of the business of water carriers, and to inquire into and report on the management of the business of persons controlling, controlled by, or under a common control with water carriers, to the extent that the business of such persons is related to the management of General powers and duties of the Oommis- sion. Inquiries and re- ports on management.