Definitions

In this Act: (1) Antitrust laws The term antitrust laws means— (A) the Sherman Act (15 U.S.C. 1 et seq.); and (B) the Clayton Act (15 U.S.C. 12 et seq.). (2) Effective date The term effective date means the date described in section 7. (3) FTC The term FTC means the Federal Trade Commission. (4) FTC antitrust action The term FTC antitrust action means any investigation, litigation, administrative proceeding, or other action of the FTC that— (A) is supervised by an FTC antitrust unit; or (B) relates to the antitrust laws or unfair methods of competition under section 5 of the Federal Trade Commission Act (15 U.S.C. 45), as in effect on the day before the effective date. (5) FTC antitrust assets The term FTC antitrust assets — (A) means all electronic or tangible records and files relating to matters supervised, as well as any physical assets or equipment owned and used or retained, by an FTC antitrust unit; and (B) does not include any office space or leased facilities or equipment. (6) FTC antitrust employee The term FTC antitrust employee means an individual who on the day before the effective date is employed by the FTC and assigned to an FTC antitrust unit. (7) FTC antitrust funding The term FTC antitrust funding means all amounts appropriated before the effective date by an Act of Congress to the FTC that are designated, by Congress or the FTC for an FTC antitrust unit. (8) FTC antitrust unit The term FTC antitrust unit means— (A) the Bureau of Competition of the FTC; and (B) each division of the Bureau of Economics of the FTC that is designated to work on FTC antitrust actions. (9) Transition period The term transition period means the period beginning on the effective date and ending on the later of— (A) the date that is 1 year after the effective date; or (B) the date that is 180 days after the date described in subparagraph (A), which may be extended by the Attorney General once for an additional 180 days, if the Attorney General determines that a period longer than the period described in subparagraph (A) is necessary to avoid harm to the interests of the United States or the effective enforcement of the antitrust laws.