Congress 109 - HJRES 79 - Disapproving the results of the review conducted by the Committee on Foreign Investment in the United States (CFIUS) into the purchase of Peninsular and Oriental Steam Navigation (P&O) by Dubai Ports World (DP World).

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Topics

Armed Forces and National Security Commerce Congress Congressional oversight Congressional reporting requirements Congressional veto Congressional-executive relations Corporate mergers Crime and Law Enforcement Dubai Ports World aftermath legislation Federal advisory bodies Foreign corporations Foreign investments Foreign Trade and International Finance Government corporations Government Operations and Politics Government ownership Governmental investigations Infrastructure International Affairs Leases Marine terminals Middle East and North Africa Terrorism Transportation and Public Works United Arab Emirates

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Summary

Disapproves the Committee on Foreign Investment in the United States (CFIUS) review of the purchase by Dubai Ports World (DP World) of Peninsular and Oriental Steam Navigation (P&O) (which conducts operations at 21 U.S. ports, including leasing agreements for terminal operations in New York, Newark, Baltimore, New Orleans, Miami, and Philadelphia).

Directs CFIUS to: (1) withdraw its statement of no objection related to the purchase; and (2) conduct a 45-day investigation, pursuant to the Defense Production Act of 1950, in order to ensure that the purchase will not have an adverse effect on U.S. national security.

Directs CFIUS to brief Members of Congress on the findings of its investigation before the purchase is allowed to proceed.

Actions

Mar 21, 2006

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Mar 17, 2006

Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman.
Feb 28, 2006

Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Feb 28, 2006

Sponsor introductory remarks on measure. (CR E214)
Feb 28, 2006

Introduced in House

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