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Anonymous ID: 286c0d Aug. 27, 2020, 2:02 a.m. No.10436683   🗄️.is đź”—kun   >>6807

>>10435819, >>10435838 TikTok timeline. New CEO /PB NOTE

 

further to addNOTABLE

 

Regarding the Acquisition of Musical.ly by ByteDance Ltd.

A Presidential Document by the Executive Office of the President on 08/19/2020

Order of August 14, 2020

https://www.federalregister.gov/documents/2020/08/19/2020-18360/regarding-the-acquisition-of-musically-by-bytedance-ltd

 

By the authority vested in me as President by the Constitution and the laws of the United States of America,

including section 721 of the Defense Production Act of 1950, as amended (section 721), 50 U.S.C. 4565, it is hereby ordered as follows:

 

{excerpt}

{see attached PDF or sauce for subsections and moar details}

 

Section 1. Findings.

(a) There is credible evidence that leads me to believe that ByteDance Ltd., an exempted company with limited liability

incorporated under the laws of the Cayman Islands (“ByteDance”), through acquiring all interests in musical.ly, an exempted company with

limited liability incorporated under the laws of the Cayman Islands (“Musical.ly”), might take action that threatens to impair the national security

of the United States. As a result of the acquisition, ByteDance merged its TikTok application with Musical.ly's social media application and

created a single integrated social media application; and

 

(b) Provisions of law, other than section 721 and the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), do not,

in my judgment, provide adequate and appropriate authority for me to protect the national security in this matter.

 

Sec. 2. Actions Ordered and Authorized.

On the basis of the findings set forth in section 1 of this order, considering the factors described in subsection (f) of section 721, as appropriate,

and pursuant to my authority under applicable law, including section 721, I hereby order that:

 

(a) The transaction resulting in the acquisition by ByteDance of Musical.ly, to the extent that Musical.ly or any of its assets is used in furtherance

or support of, or relating to, Musical.ly's activities in interstate commerce in the United States (“Musical.ly in the United States”), is hereby prohibited,

and ownership by ByteDance of any interest in Musical.ly in the United States, whether effected directly or indirectly through ByteDance, or through

ByteDance's subsidiaries, affiliates, or Chinese shareholders, is also prohibited.

 

Sec. 3. Reservation.

I hereby reserve my authority to issue further orders with respect to ByteDance, Musical.ly, Musical.ly in the United States, and TikTok Inc. as shall in my judgment

be necessary to protect the national security.

 

Sec. 4. Publication and Transmittal.

(a) This order shall be published in the Federal Register.

 

(b) I hereby direct the Secretary of the Treasury to transmit a copy of this order to the appropriate parties named in section 1 of this order.

 

THE WHITE HOUSE, August 14, 2020. Filed 8-18-20; 11:15 am]

 

[FR Doc. 2020-18360