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The authority of the President to suspend or prohibit certain transactions was initially provided by the addition of section 721 to the Defense Production Act of 1950 by a 1988 amendment commonly known as the Exon-Florio amendment.  The Foreign Investment and National Security Act of 2007 (FINSA), which became effective October 24, 2007, substantially revised section 721.  Section 721 of the Defense Production Act of 1950 is codified at 50 U.S.C. App. 2170.

• Section 721 of the Defense Production Act of 1950, as amended

Additional references:

• The Foreign Investment and National Security Act of 2007 (FINSA), Public Law No. 110-49, 121 Stat. 246 (2007).
• Summary of FINSA