Pub. L. 93-463, tit. II, sec. 215

Sec. 215. Section 8a of the Commodity Exchange Act, as amended (7 U.S.C. 12a), is amended by adding the following new subsection (9): 88 Stat. 1405 “(9) to direct the contract market whenever it has reason to believe that an emergency exists, to take such action as, in the Commission’s judgment, is necessary to maintain or restore orderly trading in, or liquidation of, any futures contract. The term ‘emergency’ as used herein shall mean, in addition to threatened or actual market manipulations and corners, any act of the United States or a foreign government affecting a commodity or any other major market disturbance which prevents the market from accurately reflecting the forces of supply and demand for such commodity: Provided, That nothing herein shall be deemed to limit the meaning or interpretation given by a contract market to the terms ‘market emergency’, ‘emergency’, or equivalent language in its own bylaws, rules, regulations, or resolutions.”