§ 6o-1. — Special procedures to encourage and facilitate bona fide hedging by agricultural producers.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC6o-1]
TITLE 7--AGRICULTURE
CHAPTER 1--COMMODITY EXCHANGES
Sec. 6o-1. Special procedures to encourage and facilitate bona
fide hedging by agricultural producers
(a) Authority
The Commission shall consider issuing rules or orders which--
(1) prescribe procedures under which each contract market is to
provide for orderly delivery, including temporary storage costs, of
any agricultural commodity enumerated in section 1a(4) of this title
which is the subject of a contract for purchase or sale for future
delivery;
(2) increase the ease with which domestic agricultural producers
may participate in contract markets, including by addressing cost
and margin requirements, so as to better enable the producers to
hedge price risk associated with their production;
(3) provide flexibility in the minimum quantities of such
agricultural commodities that may be the subject of a contract for
purchase or sale for future delivery that is traded on a contract
market, to better allow domestic agricultural producers to hedge
such price risk; and
(4) encourage contract markets to provide information and
otherwise facilitate the participation of domestic agricultural
producers in contract markets.
(b) Report
Within 1 year after December 21, 2000, the Commission shall submit
to the Committee on Agriculture of the House of Representatives and the
Committee on Agriculture, Nutrition, and Forestry of the Senate a report
on the steps it has taken to implement this section and on the
activities of contract markets pursuant to this section.
(Sept. 21, 1922, ch. 369, Sec. 4p, as added Pub. L. 106-554,
Sec. 1(a)(5) [title I, Sec. 121], Dec. 21, 2000, 114 Stat. 2763, 2763A-
404.)
Codification
Another section 4p of act Sept. 21, 1922, is classified to section
6p of this title.
