Geothermal Energy Industry Competition Act

Summary

Geothermal Energy Industry Competition Act - Makes it unlawful for any person engaged in commerce in the business of extracting crude petroleum to acquire any geothermal energy production asset after the date of enactment of the Geothermal Energy Industry Competition Act. Requires each such person who, on the date of enactment of the Geothermal Energy Industry Competition Act, owns or controls any asset which that person is prohibited, under this Act, from acquiring to within one hundred and twenty days after such date, to file with the Attorney General such reports relating to those assets as he may require, and to, from time to time, file such additional reports relating to those assets as the Attorney General may require. States that any person who violates this Act shall upon conviction be punished by a fine of not to exceed $100,000 or by imprisonment not exceeding ten years, or both, in the discretion of the court. Provides that violation by a corporation shall be deemed to be also a violation by the individual directors, officers, receivers, trustees, or agents of such corporation who shall have authorized, ordered, or done any of the acts constituting the violation in whole or in part.

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1 official file

• Introduced in Senate

  summary · EN · 29 April 1974

  Open at official source

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