Rulemaking

(a) Objectives In promulgating all rules under this Act relating to required divestitures and divestment plans, the Commission shall aim to— (1) discourage monopolistic practices; (2) strengthen and preserve the competitive position of small business concerns; (3) foster the development of new independent enterprises; and (4) preference farmers’ cooperatives and small businesses in divestment plans. (b) Requirements (1) In general Not later than 90 days after the date of enactment of this Act, the Commission shall promulgate, in accordance with section 553 of title 5, United States Code, such rules and regulations as are necessary to carry out this Act, including rules relating to— (A) definitions of markets for cattle slaughter and beef processing in the United States; (B) standards and requirements for divestitures under this Act; and (C) in consultation with national security agencies, an identification of all covered foreign-controlled meatpacking enterprises. (2) Failure to promulgate regulations If no regulations have been promulgated by the Commission on or before the date described in this subsection, the requirements of this section shall still apply.