Executive Order 11660—Amending Executive Order No. 11640, Further Providing for the Stabilization of the Economy

By virtue of the authority vested in me by the Constitution and statutes of the United States, particularly the Economic Stabilization Act of 1970, as amended, it is hereby ordered as follows:

SECTION 1. Subsection (a) of section 1 of Executive Order No. 11640 of January 26, 1972, is amended by inserting in lieu of the first sentence thereof the following:

"The Pay Board and Price Commission established by sections 7 and 8 of Executive Order No. 11627 of October 15, 1971, are hereby continued, except to the extent that the language prescribing the composition of the Pay Board and the Price Commission has been modified by sections 7 (b) and 8(b) of this Order, as amended, and shall act as agencies of the United States. The Chairman of each of these bodies, acting in accordance with the majority vote of its members, shall, pursuant to the goals established by the Cost of Living Council, take such steps as may be necessary, and authorized by or pursuant to this Order, to stabilize prices, rents, wages, and salaries."

SEC. 2. Subsection (b) of section 7 of Executive Order No. 11640 is amended by inserting in lieu of the first four sentences thereof the following:

"The Board shall be composed of such members as the President has appointed or may, from time to time, appoint and who arc serving pursuant to such appointment. Such members shall be appointed by and with the advice and consent of the Senate ; except that the foregoing requirement with respect to Senate confirmation does not apply to any member of the Board who was serving, pursuant to appointment by the President, on December 22, 1971, and who continues to serve pursuant to such appointment, after such time. The members of the Board shall serve at the pleasure of the President and one of the members designated by the President shall serve as Chairman."

SEC. 3. (a) Subsection (b) of section 8 of Executive Order No. 11640 is amended by inserting in lieu of the first two sentences thereof the following:

"The Commission shall be composed of such members as the President has appointed or may, from time to time, appoint and who are serving pursuant to such appointment. Such members shall be appointed by and with the advice and consent of the Senate; except that the foregoing requirement with respect to Senate confirmation does not apply to any member of the Commission who was serving, pursuant to appointment by the President, on December 22, 1971, and who continues to serve pursuant to such appointment, after such time."

SEC. 3. (b) The penultimate sentence of section 8 (b) of Executive Order No. 11640 is amended by deleting "Executive Director of the Board" and inserting in lieu thereof "Executive Director of the Commission".

SEC. 4. All orders, regulations, circulars, or other directives issued and all other actions taken pursuant to Executive Order No. 11615, as amended, Executive Order No. 11627, as amended, and Executive Order No. 11640, and in effect on the date of this Order, are hereby confirmed and ratified, and shall remain in full force and effect, unless and until altered, amended, or revoked by competent authority.

RICHARD NIXON

The White House,

March 23, 1972