LawSight E-Letter

Congress Passes, President Expect to Sign, Year 2000 Information and Readiness Disclosure Act.
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S2392, the 'Y2k Good Samaritan' bill proposed by the Administration in July, was passed in amended form by the Senate on September 28. The House passed the bill by voice vote on October 1, 1998. The President is expected to sign the bill in the next few days. To review the text of the bill, see http://www.lawsight.com/x2ka.htm.

The bill provides for limited protection for statements made in good faith by businesses concerning year 2000 readiness. Additional protection is provided for those who, in good faith, republish Year 2000 related information, especially on web sites set up for that purpose. The bill also provides for a 'Temporary Antitrust Exemption' for exchange of information between and among industry members which might otherwise run afoul of information exchange restrictions intended to prevent price-fixing and uncompetitive divisions of markets; the exemption is to run from the date of signing to July 14, 2001.

The bill was passed in response to widespread perception of a reluctance to share information critical to remediation of the Year 2000 problem for fear of legal consequences.

LawSight will continue its coverage of this and other Y2k legislation at http://www.lawsight.com/x2k.htm.
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