Page:United States Statutes at Large Volume 65.djvu/57

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65 STAT.]

PUBLIC LAW 9—MAR. 23, 1951


United States (1) involving any subject matter directly connected with which such person was so employed, or (2) during the period such person is engaged in employment in a Department or the Board.


The W a r Contracts Price Adjustment Board, created by the Renego- 5o^u*.*s^c. app. ti ation Act, is hereby abolished. | //gf (jf ^ • ^"P- ^ "^' (b) TRANSFER OF FUNCTIONS IN GENERAL.—All powers, functions, and duties conferred upon the W a r Contracts Price Adjustment Board by the Renegotiation Act and not otherwise specifically dealt with in tnis section are transferred to the Renegotiation Board. (c) AMENDMENT OF THE RENEGOTIATION ACT.—Subsection (a)


(D) of the Renegotiation Act is amended by inserting at the end thereof the following: "A net renegotiation rebate shall not be repaid unless a claim therefor has been filed with the Board on or before the date of its abolition, or unless a claim shall have been filed with the Administrator of General Services (i) on or before June 30, 1951, or (ii) within ninety days after the making of an agreement or the entry of an order under subjection (c)(1) determining the amount of excessive profits, whichever is later. A claim shall be deemed to have been filed when received by the Board or the Administrator, whether or not accompanied by a statement of the Commissioner of Internal Revenue showing the amortization deduction allowed for the renegotiated year upon the recomputation made pursuant to section 124(d) of the Internal Revenue Code." (d) TRANSFER or CERTAIN FUNCTIONS.—All powers, functions, and duties conferred upon the W a r Contracts Price Adjustment Board by subsection (a)(4)(D) of the Renegotiation Act, subject to the amendment thereof by subsection (c) of this section, are hereby transferred to the Administrator of General Services. (e) FUNCTIONS AND RECORDS.—Each Secretary of a Department is authorized and directed to eliminate the excessive profits determined under all existing renegotiation agreements or orders by the methods enumerated in siibsection (c)(2) of the Renegotiation Act in respect of all renegotiations conducted by his Department pursuant to delegations from the W a r Contracts Price Adjustment Board. The several Departments shall retain custody of the renegotiation case files covering renegotiations thus conducted for such time as the Secretary deems necessary for the purposes of this section, and thereafter they shall be made available to the Renegotiation Board for appropriate disposition. The renegotiation records of the W a r Contracts Price Adjustment Board shall become records of the Renegotiation Board on the effective date of this section. (f) REFUNDS.—All refunds under subsection (a)(4)(D) of the Renegotiation Act (relating to the recomputation of the amortization deduction), all refunds under the last sentence of subsection (i)(3) of such Act (relating to excess inventories), and all amounts finally adjudged or determined to have been erroneously collected by the United States pursuant to a determination of excessive profits, with interest thereon in the last mentioned case at a rate not to exceed 4 per centum per annum as may be determined by the Administrator of General Services or his duly authorized representative computed to the date of certification to the Treasury Department for payment, shall be certified by the Administrator of General Services or his duly authorized representative to the Treasury Department for payment from such appropriations as may be available therefor: Provided,

5o^u*.*s^c. app. § ii^^ (a)(4)(D).

5o^u!l^c app. 5 "M (C)(i).

26 u. si c. J124 (d). ^ g^^^ ^ 50 u. s. b. app.

  • "^^ ^ ^ ^^^ ^^^'

so U.S.C. app. ^ ^^^^ ^^ ^^^'

ggstat so s sou.s.' 11191 W(4)(D),(po).