Defense Production Act of 1950

Section 708 of the Act requires the Commission and the Department of Justice to participate in developing, implementing, monitoring, and reporting on voluntary agreements among industry members, pursuant to federal determination of need and federal oversight, that are aimed at solving production and distribution problems impairing national defense preparedness (such as a voluntary agreement to make ships, services, and facilities available to the Department of Defense in case of military emergency). The Act establishes a limited antitrust exemption for such voluntary agreements.