Sec. 7. Termination of exemptions in title 49

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49 Section 10706 of title 49, United States Code, is amended— in subsection (a)— in paragraph (2)(A), by striking , and the Sherman Act ( and all that follows through 15 U.S.C. 1 et seq. ), or carrying out the agreement in the third sentence; in paragraph (4)— by striking the second sentence; and by striking However, the in the third sentence and inserting The ; and in paragraph (5)(A), by striking , and the antitrust laws set forth in paragraph

(2)of this subsection do not apply to parties and other persons with respect to making or carrying out the agreement ; and by striking subsection

(e)and inserting the following: Nothing in this section exempts a proposed agreement described in subsection

(a)from the application of the Sherman Act (15 U.S.C. 1 et seq.), the Clayton Act ( 15 U.S.C. 12 , 14 et seq.), the Federal Trade Commission Act ( 15 U.S.C. 41 et seq. ), section 73 or 74 of the Wilson Tariff Act (15 U.S.C. 8 and 9), or the Act of June 19, 1936 ( 15 U.S.C. 13 , 13a, 13b, 21a). In reviewing any such proposed agreement for the purpose of any provision of law described in paragraph (1), the Board shall take into account, among any other considerations, the impact of the proposed agreement on shippers, on consumers, and on affected communities. . Section 11321 of title 49, United States Code, is amended— in subsection (a)— by striking The authority in the first sentence and inserting Except as provided in sections 4 ( ; and 15 U.S.C. 15 ), 4C ( 15 U.S.C. 15c ), section 15 (15 U.S.C. 25), and section 16 ( 15 U.S.C. 26 ) of the Clayton Act ( 15 U.S.C. 21(a) ), the authority by striking is exempt from the antitrust laws and from all other law, in the third sentence and inserting is exempt from all other law (except the antitrust laws referred to in subsection (c)), ; and by adding at the end the following: Nothing in this section exempts a transaction described in subsection

(a)from the application of the Sherman Act (15 U.S.C. 1 et seq.), the Clayton Act ( 15 U.S.C. 12 , 14 et seq.), the Federal Trade Commission Act ( 15 U.S.C. 41 et seq. ), section 73 or 74 of the Wilson Tariff Act (15 U.S.C. 8–9), or the Act of June 19, 1936 ( 15 U.S.C. 13 , 13a, 13b, 21a). The preceding sentence shall not apply to any transaction relating to the pooling of railroad cars approved by the Surface Transportation Board or its predecessor agency pursuant to section 11322 of title 49, United States Code. In reviewing any such transaction for the purpose of any provision of law described in paragraph (1), the Board shall take into account, among any other considerations, the impact of the transaction on shippers and on affected communities. . The heading for section 10706 of title 49, United States Code, is amended to read as follows: . Rate agreements The item relating to such section in the chapter analysis at the beginning of chapter 107 of such title is amended to read as follows: 10706. Rate agreements. .

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