Sec. 4. Implementation
199 words·~1 min read·
/bill/117/hr/3826/ih/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Federal Trade Commission or Department of Justice shall designate whether an entity is a covered platform for the purpose of implementing and enforcing this Act. Such designation shall— be based on a finding that the criteria set forth in section 3(d)(2)(A)–(C) are met; be issued in writing and published in the Federal Register; and will apply for 10 years from its issuance regardless of whether there is a change in control or ownership over the covered platform unless the Commission or the Department of Justice removes the designation pursuant to subsection (b).
The Commission and the Department of Justice shall— consider whether its designation of a covered platform pursuant to subsection
(a)should be removed prior to the expiration of the 10-year period if the covered platform operator files a request with the Commission or the Department of Justice, which shows that the online platform is no longer a critical trading partner; determine whether to grant a request submitted under paragraph 1 not later than 120 days after the date of the filing of such request; and obtain the concurrence of the Commission or the Department of Justice, as appropriate, before granting a request submitted under paragraph (1).