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Public Law 92-8, 85 Stat. 18; Public Law 92-15, 85 Stat. 38; Public Law 92-210, 85 Stat. 743; and Executive Order No. 11640.

SOURCE: The provisions of this Part 101 appear at 37 F.R. 1238, Jan. 27, 1972, unless otherwise noted.

Subpart A-General

§ 101.1 Purpose and scope.

(a) The purpose of this part is to establish the economic units and transactions which are covered by, or are exempt from, the controls, standards, and criteria established for the post-freeze economic stabilization period. The purpose is also to establish categories of economic units which must comply with the prenotification, reporting, and other procedural requirements prescribed by the Cost of Living Council.

(b) This part applies to all price adjustments and to all pay adjustments which occur during the post-freeze economic stabilization period, except those which are specifically exempt under this part.

(c) This part does not apply to economic transactions which are not prices, rents, wages, and salaries within the meaning of the Act as amended. Examples of transactions not within the meaning of the Act are:

(1) State or local income, sales and real estate taxes;

(2) Workmen's compensation payments;

(3) Welfare payments;

(4) Child support payments; and
(5) Alimony payments.

(d) The Cost of Living Council may permit any exceptions, exemptions or reclassifications that it considers appropriate with respect to the coverage, classification, and other procedural requirements prescribed in this part, Requests for exceptions or exemptions from the coverage, classification, and other procedural requirements of this part shall be submitted in accordance with the provisions of Parts 105, 205, 305, and 401 of this title.

(e) This part applies to:

(i) economic units and transactions in the several States and the District of Columbia; and

(ii) sales of goods and services by firms in the several States and the District of Columbia to firms in the Commonwealth of Puerto Rico.

[37 F.R. 1237, Jan. 27, 1972 as amended at 87 F.R. 3913, Feb. 24, 1972]

§ 101.2

Definitions.

"Act" means the Economic Stabilization Act of 1970, as amended.

"Annual sales or revenues” means the total gross receipts of a firm during its most recent fiscal year, from whatever source derived, except that it does not include gross receipts of or from a foreign branch or division of such a firm, or the gross receipts of or from a wholly or partially owned foreign entity such as a corporation, partnership, joint venture, association, trust, or subsidiary, if the gross receipts of such foreign entity, branch, or division are derived primarily from transactions with other foreign firms. A foreign entity, branch, or division is one located outside the several States and the District of Columbia. However, gross receipts of domestic entities from U.S. export sales and from sales to firms in the Commonwealth of Puerto Rico are included in the determination of annual sales or revenue.

"Firm" means any person, corporation, association, estate, partnership, trust, joint-venture, or sole proprietorship or any other entity however organized including charitable, educational, or other eleemosynary institutions, and the Federal and State and local governments. For purposes of this definition, a firm includes any entity listed in the preceding sentence that is part of or is directly or indirectly controlled by the firm. A person will be deemed to control any firm which is controlled directly or indirectly by such person, his spouse, children, grandchildren, or parents.

"Mass transportation system" means a public benefit corporation, with annual