H.J.Res.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).109th Congress (2005-2006)
|Sponsor:||Rep. Harman, Jane [D-CA-36] (Introduced 02/28/2006)|
|Committees:||House - Energy and Commerce; Financial Services; International Relations|
|Latest Action:||03/21/2006 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.|
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: H.J.Res.79 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (02/28/2006)
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.