Petroleum Company Holdings Act of 1979

Summary

Petroleum Company Holdings Act of 1979 - Makes it unlawful for any major petroleum producer, petroleum transporter, major refiner, or major marketer to own or control any interest or asset which is not in the petroleum industry or not directly related thereto. Directs such entities to file with the Federal Trade Commission such information and reports as the Commission may request. Directs such entities to submit for the Commission's approval a plan for divestment of the interests prohibited to be held under this Act, and directs the Commission upon granting such approval to take such actions as may be necessary to enforce such plan. Authorizes the Commission to sue in the United States district courts for such relief as appropriate to assure compliance with this Act. Establishes civil and criminal penalties for violations of this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 10 July 1979

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.