
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC2297h-2]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
          CHAPTER 23--DEVELOPMENT AND CONTROL OF ATOMIC ENERGY
 
            Division B--United States Enrichment Corporation
 
   SUBCHAPTER VIII--UNITED STATES ENRICHMENT CORPORATION PRIVATIZATION
 
Sec. 2297h-2. Method of sale


(a) Authorization

    The Board of Directors of the Corporation, with the approval of the 
Secretary of the Treasury, shall transfer ownership of the assets and 
obligations of the Corporation to the private corporation established 
under section 2297h-3 of this title (which may be consummated through a 
merger or consolidation effected in accordance with, and having the 
effects provided under, the law of the State of incorporation of the 
private corporation, as if the Corporation were incorporated 
thereunder).

(b) Board determination

    The Board, with the approval of the Secretary of the Treasury, shall 
select the method of transfer and establish terms and conditions for the 
transfer that will provide the maximum proceeds to the Treasury of the 
United States and will provide for the long-term viability of the 
private corporation, the continued operation of the gaseous diffusion 
plants, and the public interest in maintaining reliable and economical 
domestic uranium mining and enrichment industries.

(c) Adequate proceeds

    The Secretary of the Treasury shall not allow the privatization of 
the Corporation unless before the sale date the Secretary of the 
Treasury determines that the method of transfer will provide the maximum 
proceeds to the Treasury consistent with the principles set forth in 
section 2297h-1(a) of this title.

(d) Application of securities laws

    Any offering or sale of securities by the private corporation shall 
be subject to the Securities Act of 1933 (15 U.S.C. 77a et seq.), the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), and the 
provisions of the Constitution and laws of any State, territory, or 
possession of the United States relating to transactions in securities.

(e) Expenses

    Expenses of privatization shall be paid from Corporation revenue 
accounts in the United States Treasury.

(Pub. L. 104-134, title III, Sec. 3104, Apr. 26, 1996, 110 Stat. 1321-
336.)

                       References in Text

    The Securities Act of 1933, referred to in subsec. (d), is act May 
27, 1933, ch. 38, title I, 48 Stat. 74, as amended, which is classified 
generally to subchapter I (Sec. 77a et seq.) of chapter 2A of Title 15, 
Commerce and Trade. For complete classification of this Act to the Code, 
see section 77a of Title 15 and Tables.
    The Securities Exchange Act of 1934, referred to in subsec. (d), is 
act June 6, 1934, ch. 404, 48 Stat. 881, as amended, which is classified 
principally to chapter 2B (Sec. 78a et seq.) of Title 15. For complete 
classification of this Act to the Code, see section 78a of Title 15 and 
Tables.

                          Codification

    Section was enacted as part of the USEC Privatization Act and also 
as part of the Omnibus Consolidated Rescissions and Appropriations Act 
of 1996, and not as part of the Atomic Energy Act of 1954 which 
comprises this chapter.

                  Section Referred to in Other Sections

    This section is referred to in section 2297h of this title.
