Codification
Section, acts [May 21, 1948, ch. 333, § 3], [62 Stat. 259]; [Aug. 10, 1949, ch. 412, § 12(a)], [63 Stat. 591], provided that this section be cited as the Renegotiation Act of 1948 and related to renegotiation of airplane contracts, authorizing the Secretary of Defense, by utilizing provisions of the Renegotiation Act, [section 1191 of this title], to renegotiate contracts for the purpose of eliminating excess profits.
Department of Defense Procurement Contracts for Fiscal Year 1950 Subject to This Section
[Act Oct. 29, 1949, ch. 787, § 622(a)], [63 Stat. 1021], which provided that all negotiated contracts for procurement in excess of $1,000 entered into during the fiscal year 1950 by or on behalf of the Department of Defense, including the Department of the Army, Department of the Navy, and Department of the Air Force, and all subcontracts thereunder in excess of $1,000, are made subject to this section in the same manner and to the same extent as if such contracts and subcontracts were required by this section to contain the renegotiation article prescribed in subsec. (a) of this section.
