U.S.C. 628)", respectively, on authority of Pub. L. 97-258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance. Section was formerly classified to section 231 of Title 41, Public Contracts. AMENDMENTS 1979-Subsecs. (a)(1), (c). Pub. L. 96-83 substituted "policy directives" for "regulations". 1974 Subsec. (a)(1). Pub. L. 93-400, § 15(1), made the authority of the Administrator to prescribe policies and methods subject to regulations prescribed by the Administrator for Federal Procurement Policy pursuant to the Office of Federal Procurement Policy Act. Subsec. (c). Pub. L. 93-400, § 15(2), substituted "the Administrator, subject to regulations prescribed by the Administrator for Federal Procurement Policy pursuant to the Office of Federal Procurement Policy Act, may exchange" for "the Administrator, may exchange". 1970-Subsec. (e). Pub. L. 91-426 added subsec. (e). 1958-Subsec. (d). Pub. L. 85-781 added subsec. (d). 1950-Subsec. (b). Act Sept. 5, 1950, struck out "or the Senate or the House of Representatives" following "District of Columbia". EFFECTIVE Date of 1979 AMENDMENT Amendment by Pub. L. 96-83 effective Oct. 1, 1979, see section 12 of Pub. L. 96-83, set out as a note under section 401 of Title 41, Public Contracts. CROSS REFERENCES Laws not applicable to contracts, see section 260 of Title 41, Public Contracts. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 474, 475, 755, 756, 759 of this title; title 10 section 2381; title 22 section 2674; title 50 section 491. § 482. Clarification of status of Architect of Capitol under this chapter The term "the Senate and the House of Representatives", as used in the Federal Property and Administrative Services Act of 1949 [40 U.S.C. 471 et seq.), shall be construed to include the Architect of the Capitol and any activities under his direction, and any of the services authorized by said Act shall (as far as practicable) be made available to the Architect of the Capitol, upon his request. (Oct. 26, 1949, ch. 737, 63 Stat. 920.) REFERENCES IN TEXT The Federal Property and Administrative Services Act of 1949, referred to in text, is act June 30, 1949, ch. 288, 63 Stat. 377, as amended. For complete classification of this Act to the Code, see Short Title note set out under section 471 of this title and Tables. CODIFICATION Section was not enacted as a part of the Federal Property and Administrative Services Act of 1949, part of which comprises this chapter. Section was formerly classified to section 231a of Title 41, Public Contracts. § 483. Property utilization (a) Policies and methods; transfer of excess property among Federal agencies and other organizations; transfer of real property located in Indian reservations to the Secretary of the Interior (1) Subject to the provisions of paragraph (2) of this subsection, in order to minimize expend itures for property, the Administrator shall prescribe policies and methods to promote the maximum utilization of excess property by executive agencies, and he shall provide for the transfer of excess property among Federal agencies and to the organizations specified in section 756(f) of this title. The Administrator, with the approval of the Director of the Office of Management and Budget, shall prescribe the extent of reimbursement for such transfers of excess property: Provided, That reimbursement shall be required of the fair value, as determined by the Administrator, of any excess property transferred whenever net proceeds are requested pursuant to section 485(c) of this title or whenever either the transferor or the transferee agency (or the organizational unit affected) is subject to chapter 91 of title 31 or is an organization specified in section 756(f) of this title; and that excess property determined by the Administrator to be suitable for distribution through the supply centers of the General Services Administration shall be retransferred as prices fixed by the Administrator with due regard to prices established in accordance with section 756(b) of this title. (2) The Administrator shall prescribe such procedures as may be necessary in order to transfer without compensation to the Secretary of the Interior excess real property located within the reservation of any group, band, or tribe of Indians which is recognized as eligible for services by the Bureau of Indian Affairs. Such excess real property shall be held in trust by the Secretary for the benefit and use of the group, band, or tribe of Indians, within whose reservation such excess real property is located: Provided, That such transfers of real property within the State of Oklahoma shall be made to the Secretary of the Interior to be held in trust for Oklahoma Indian tribes recognized by the Secretary of the Interior when such real property (1) is located within boundaries of former reservations in Oklahoma as defined by the Secretary of Interior and when such real property was held in trust by the United States for an Indian tribe at the time of acquisition by the United States, or (2) is contiguous to real property presently held in trust by the United States for an Oklahoma Indian tribe and was at any time held in trust by the United States for an Indian tribe. (b) Duties of executive agencies Each executive agency shall (1) maintain adequate inventory controls and accountability systems for the property under its control, (2) continuously survey property under its control to determine which is excess property, and promptly report such property to the Administrator, (3) perform the care and handling of such excess property, and (4) transfer or dispose of such property as promptly as possible in accordance with authority delegated and regulations prescribed by the Administrator. (c) Additional duties of executive agencies Each executive agency shall, as far as practicable, (1) make reassignments of property among activities within the agency when such property is determined to be no longer required for the purposes of the appropriation from which it was purchased, (2) transfer excess property under its control to other Federal agencies and to organizations specified in section 756(f) of this title, and (3) obtain excess property from other Federal agencies. (d) Acquisition of excess personal property by Federal agencies for grantees prohibited; exceptions Notwithstanding any other provisions of law, Federal agencies are prohibited from obtaining excess personal property for purposes of furnishing such property to grantees of such agencies, except as follows: (1) Under such regulations as the Administrator may prescribe, any Federal agency may obtain excess personal property for purposes of furnishing it to any institution or organization which is a public agency or is nonprofit and exempt from taxation under section 501 of title 26, and which is conducting a federally sponsored project pursuant to a grant made for a specific purpose with a specific termination made: Provided, That (A) such property is to be furnished for use in connection with the grant; and (B) the sponsoring Federal agency pays an amount equal to 25 per centum of the original acquisition cost (except for costs of care and handling) of the excess property furnished, such funds to be covered into the Treasury as miscellaneous receipts. Title to excess property obtained under this paragraph shall vest in the grantees and shall be accounted for and disposed of in accordance with procedures governing the accountability of personal property acquired under grant agreements. (2) Under such regulations and restrictions as the Administrator may prescribe, the provisions of this subsection shall not apply to the following: (A) property furnished under section 2358 of title 22, where and to the extent that the Administrator of General Services determines that the property to be furnished under such Act [22 U.S.C. 2151 et seq.] is not needed for donation pursuant to section 484(j) of this title; (B) scientific equipment furnished under section 1870(e) of title 42; (C) property furnished under section 580a of title 16, in connection with the Cooperative Forest Fire Control Program, where title is retained in the United States; (D) property furnished in connection with grants to Indian tribes as defined in section 1452(c) of title 25; or (E) property furnished by the Secretary of Agriculture to any State or county extension service engaged in cooperative agricultural extension work pursuant to the Act of May 8, 1914 (7 U.S.C. 341 et seq.); any State experiment station engaged in cooperative agricultural research work pursuant to the Act of March 2, 1887 (7 U.S.C. 361a et seq.); and any institution engaged in cooperative agricultural research or extension work pursuant to sections 1433, 1434, 1444, or 1445 of the National Agricultural Research, Extension, and Teaching Policy Act of 1977 (7 U.S.C. 3195, 3196, 3221, and 3222) or the Act of October 10, 1962 (16 U.S.C. 582a et seq.), where title is retained in the United States. For the purpose of this provision, the term "State" means any one of the fifty States, the Commonwealth of Purerto Rico, Guam, American Samoa, the Commonwealth of the Northern Marianas, the Trust Territory of the Pacific Islands, the Virgin Islands of the United States, and the District of Columbia. This paragraph shall not preclude any Federal agency obtaining property and furnishing it to a grantee of that agency under paragraph (1) of this subsection. (e) Annual report by executive agencies to Administrator on excess personal property furnished to recipient other than a Federal agency; acquisition, identification, and disposition; report by Administrator to Congress Each executive agency shall submit during the calendar quarter following the close of each fiscal year a report to the Administrator showing, with respect to personal property (1) obtained as excess property or as personal property determined to be no longer required for the purposes of the appropriation from which it was purchased, and (2) furnished in any manner whatsoever within the United States to any recipient other than a Federal agency, the acquisition cost, categories of equipment, recipient of all such property, and such other information as the Administrator may require. The Administrator shall submit a report to the Senate (or to the Secretary of the Senate if the Senate is not in session) and to the House of Representatives (or to the Clerk of the House if the House is not in session) summarizing and analyzing the reports of the executive agencies. (f) Repealed. July 12, 1952, ch. 703, § 1(h), 66 Stat. 593 (g) Temporary assignment of excess real property space Whenever the Administrator determines that the temporary assignment or reassignment of any space in excess of real property to any Federal agency for office, storage, or related facilities would be more advantageous than the permanent transfer of such property, he may make such assignment or reassignment for such period of time as he shall determine and obtain, in the absence of appropriation available to him therefor, appropriate reimbursement from the using agency for the expense of maintaining such space. (h) Abandonment, destruction, or donation of property The Administrator may authorize the abandonment, destruction, or donation to public bodies of property which has no commercial value or of which the estimated cost of continued care and handling would exceed the estimated proceeds from its sale. (June 30, 1949, ch. 288, title II, § 202, 63 Stat. 384; July 12, 1952, ch. 703, § 1(f)-(h), 66 Stat. 593; 1970 Reorg. Plan No. 2, § 102, eff. July 1, 1970, 35 F.R. 7959, 84 Stat. 2085; Jan. 2, 1975, Pub. L. 93-599, 88 Stat. 1954; Oct. 17, 1976, Pub. L. 94-519, § 3, 90 Stat. 2454; Dec. 22, 1981, Pub. L. 97-98, title XIV, § 1443, 95 Stat. 1321.) REFERENCES IN TEXT Such Act, referred to in subsec. (d)(2)(A), is the Foreign Assistance Act of 1961, Pub. L. 87-195, Sept. 4, 1961, 75 Stat. 424, as amended, which is classified principally to chapter 32 (§ 2151 et seq.) of Title 22, Foreign Relations and Intercourse. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of Title 22 and Tables. The Act of May 8, 1914 (7 U.S.C. 341 et seq.), referred to in subsec. (d)(2)(E), is act May 18, 1914, ch. 79, 38 Stat. 372, as amended, popularly known as the Smith-Lever Act, which is classified generally to subchapter IV (§ 341 et seq.) of chapter 13 of Title 7, Agriculture. For complete classification of this Act to the Code, see Short Title note set out under section 341 of Title 7 and Tables. The Act of March 2, 1887 (7 U.S.C. 361a et seq.), referred to in subsec. (d)(2)(E), is act Mar. 2, 1887, ch. 314, 24 Stat. 440, as amended, popularly known as the Hatch Act of 1887, which is classified generally to sections 361a to 3611 of Title 7. For complete classification of this Act to the Code, see Short Title note set out under section 361a of Title 7 and Tables. The Act of October 10, 1962 (16 U.S.C. 582a et seq.), referred to in subsec. (d)(2)(E), is Pub. L. 87-788, Oct. 10, 1962, 76 Stat. 806, as amended, popularly known as the McIntire-Stennis Act of 1962, which is classified generally to subchapter III (§ 582a et seq.) of chapter 3 of Title 16, Conservation. For complete classification of this Act to the Code, see Short Title note set out under section 582a of Title 16 and Tables. CODIFICATION In subsec. (a)(1), "chapter 91 of title 31" was substituted for "the Government Corporation Control Act (59 Stat. 597, 31 U.S.C. 841)" on authority of Pub. L. 97-258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance. Section was formerly classified to section 232 of Title 41, Public Contracts. AMENDMENTS 1981-Subsec. (d)(2)(E). Pub. L. 97-98 added subpar. (E). 1976-Subsecs. (d), (e). Pub. L. 94-519 added subsecs. (d) and (e). Former subsecs. (d) and (e) had been repealed by act July 12, 1952, ch. 703, § 1(h), 66 Stat. 593. See 1952 Amendment note below. 1975-Subsec. (a)(1). Pub. L. 93-599 redesignated existing subsec. (a) as par. (1), and in par. (1) as so redesignated, substituted, "Subject to the provisions of paragraph (2) of this subsection, in order to minimize" for "In order to minimize”. Subsec. (a)(2). Pub. L. 93-599 added par. (2). 1952-Subsec. (a). Act July 12, 1952, § 1(f), permitted better utilization of excess property by other Federal agencies which have need for such property, and provided more flexible methods of transfer. Subsec. (c). Act July 12, 1952, § 1(g), added in cl. (2) "and to organizations specified in section 756(f) of this title". Subsecs. (d) to (f). Act July 12, 1952, § 1(h), repealed subsecs. (d) to (f). EFFECTIVE DATE OF 1981 AMENDMENT Amendment by Pub. L. 97-98 effective Dec. 22, 1981, see section 1801 of Pub. L. 97-98, set out as an Effective Date note under section 4301 of Title 7, Agriculture. EFFECTIVE Date of 1976 AMENDMENT Amendment by Pub. L. 94-519 effective Oct. 17, 1977, see section 9 of Pub. L. 94-519, set out as a note under section 484 of this title. TRANSFER OF FUNCTIONS All functions vested by law (including reorganization plan) in the Bureau of the Budget or the Director of the Bureau of the Budget were transferred to the President of the United States by section 101 of Reorg. Plan No. 2 of 1970, eff. July 1, 1970, 35 F.R. 7959, 84 Stat. 2085, set out in the Appendix to Title 5, Government Organization and Employees. Section 102 of Reorg. Plan No. 2 of 1970, redesignated the Bureau of the Budget as the Office of Management and Budget. LEASE AND Assignment of Building SPACE; All functions with respect to acquiring space in buildings by lease, all functions with respect to assigning and reassigning space in buildings for use by agencies (including both space acquired by lease and space in Government-owned buildings), and all functions with respect to the operation, maintenance, and custody of office buildings owned by the Government and of office buildings or parts thereof acquired by lease, including those post-office buildings which, as determined by the Director of the Bureau of the Budget, are not used predominantly for post-office purposes, were, with certain exceptions, transferred from the respective agencies in which theretofore vested to the Administrator of General Services by sections 1 and 2 of Reorg. Plan No. 18 of 1950, eff. July 1, 1950, 15 F.R. 3177, 64 Stat. 1270, set out under section 490 of this title. For delegation of those transferred functions to other personnel of the General Services Administration, or to the heads and personnel of other agencies, and for transfer of personnel, property, records, and funds, see sections 3 and 4 of that Plan. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 475, 481, 483c, 512 of this title; title 45 section 854. § 483a. Transfer of vessels between Departments Vessels under the jurisdiction of the Department of Commerce, the Department of Transportation, the Department of the Army, the Department of the Air Force, or the Department of the Navy may be transferred or otherwise made available without reimbursement to any such agencies upon the request of the head of one agency and the approval of the agency having jurisdiction of the vessels concerned. (Dec. 21, 1982, Pub. L. 97-377, title VII, § 717, 96 Stat. 1583.) CODIFICATION Section enacted as a part of the appropriation act cited as the credit to this section, and not as a part of the Federal Property and Administrative Services Act of 1949, part of which comprises this chapter. SIMILAR PROVISIONS Similar provisions were contained in the following prior appropriation acts: Dec. 29, 1981, Pub. L. 97-114, title VII, § 717, 95 Stat. 1581. Dec. 15, 1980, Pub. L. 96-527, title VII, § 718, 94 Stat. 3084. Dec. 21, 1979, Pub. L. 96-154, title VII, § 718, 93 Stat. 1155. Oct. 13, 1978, Pub. L. 95-457, title VIII, § 818, 92 Stat. 1247. Sept. 21, 1977, Pub. L. 95-111, title VIII, § 817, 91 Stat. 902. Sept. 22, 1976, Pub. L. 94-419, title VII, § 717, 90 Stat. 1294. Feb. 9, 1976, Pub. L. 94-212, title VII, § 717, 90 Stat. 171. Oct. 8, 1974, Pub. L. 93-437, title VIII, § 817, 88 Stat. 1228. Jan. 2, 1974, Pub. L. 93-238, title VII, § 717, 87 Stat. 1041. Oct. 26, 1972, Pub. L. 92-570, title VII, § 717, 86 Stat. 1199. Dec. 18, 1971, Pub. L. 92-204, title VII, § 717, 85 Stat. 730. Jan. 11, 1971, Pub. L. 91-668, title VIII, § 817, 84 Stat. 2033. Dec. 29, 1969, Pub. L. 91-171, title VI, § 617, 83 Stat. 483. Oct. 17, 1968, Pub. L. 90-580, title V, § 516, 82 Stat. 1132, as amended Aug. 6, 1981, Pub. L. 97-31, § 12(14), 95 Stat. 154. Sept. 29, 1967, Pub. L. 90-96, title VI, § 616, 81 Stat. 245. Oct. 15, 1966, Pub. L. 89–687, title VI, § 616, 80 Stat. 994. Sept. 29, 1965, Pub. L. 89-213, title VI, § 616, 79 Stat. 876. Aug. 19, 1964, Pub. L. 88-446, title V, § 516, 78 Stat. 477. Oct. 17, 1963, Pub. L. 88-149, title V, § 516, 77 Stat. 267. Aug. 9, 1962, Pub. L. 87-577, title V, § 516, 76 Stat. 331. Aug. 17, 1961, Pub. L. 87-144, title VI, § 616, 75 Stat. 378. July 7, 1960, Pub. L. 86-601, title V, § 516, 74 Stat. 352. Aug. 18, 1959, Pub. L. 86-166, title VI, § 616, 73 Stat. 381. Aug. 22, 1958, Pub. L. 85-724, title VI, § 617, 72 Stat. 727. Aug. 2, 1957, Pub. L. 85-117, title VI, § 618, 71 Stat. 326. July 2, 1956, ch. 488, title VI, § 618, 70 Stat. 471. § 483b. Utilization of excess furniture Notwithstanding the provisions of any other law, no funds shall be available in this or any other Act for the purchase of furniture by any department or agency in any branch of the Government if such requirements can reasonably be met, as determined by the Administrator of General Services, by transfer of excess furniture including rehabilitated furniture from other departments and agencies pursuant to the Federal Property and Administrative Services Act of 1949, as amended [40 U.S.C. 471 et seq.). (Aug. 7, 1953, ch. 340, ch. XIII, title I, § 1316, 67 Stat. 439.) REFERENCES IN TEXT This Act, referred to in text, is the Supplemental Appropriation Act, 1954, approved Aug. 7, 1953, ch. 340, 67 Stat. 418, which in general is not classified to the Code. For specific classifications to the Code, see Tables. The Federal Property and Administrative Services Act of 1949, as amended, referred to in text, is act June 30, 1949, ch. 288, 63 Stat. 377, as amended. Provisions relating to transfer of excess furniture are contained in section 483 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 471 of this title and Tables. CODIFICATION Section enacted as a part of the "Supplemental Appropriation Act, 1954", and not as a part of the "Fed eral Property and Administrative Services Act of 1949", part of which comprises this chapter. § 483c. Excess personal property held by grantee of Federal agency; certification of authorized use; title to grantee; re-transfer of property used for unauthorized purpose Notwithstanding any other provision of law, and except as the Administrator of General Services may otherwise provide on recommendation of the head of an affected Federal agency, excess personal property acquired by a Federal agency pursuant to the authority of section 202 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 483) and furnished to and held by a grantee of such agency prior to October 17, 1977, under grants made pursuant to programs established by law shall be regarded as surplus property. The Administrator of General Services upon receipt of a certification by the head of an agency that the property is being used by the grantee for the purposes for which it was furnished shall transfer title to the property to the grantee. The grantor agency shall survey Federal property acquired from excess sources in the possession of its grantees and shall notify the Administrator of General Services, not later than two hundred and forty days from October 17, 1976, of those items of property which are being used by each grantee for the purpose for which it was furnished, and those items which are not being used by each grantee. If the property is not being so used, the Administrator shall transfer such property to an appropriate State agency, upon its request, for distribution in accordance with subsection 203(j) of the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 484(j)). Property not so transferred shall be otherwise disposed of pursuant to the provisions of that Act [40 U.S.C. 471 et seq.). (Pub. L. 94-519, § 5, Oct. 17, 1976, 90 Stat. 2456.) REFERENCES IN TEXT That Act, referred to in text, is act June 30, 1949, ch. 288, 63 Stat. 377, as amended, known as the Federal Property and Administrative Services Act of 1949. For complete classification of this Act to the Code, see Short Title note set out under section 471 of this title and Tables. CODIFICATION Section was not enacted as part of the Federal Property and Administrative Services Act of 1949, part of which comprises this chapter. EFFECTIVE DATE Section effective Oct. 17, 1977, see section 9 of Pub. L. 94-519 set out as an Effective Date of 1976 Amendment note under section 484 of this title. § 484. Disposal of surplus property (a) Supervision and direction Except as otherwise provided in this section, the Administrator shall have supervision and direction over the disposition of surplus property. Such property shall be disposed of to such extent, at such time, in such areas, by such agencies, at such terms and conditions, and in such manner, as may be prescribed in or pursuant to this Act. (b) Care and handling The care and handling of surplus property, pending its disposition, and the disposal of surplus property, may be performed by the General Services Administration or, when so determined by the Administrator, by the executive agency in possession thereof or by any other executive agency consenting thereto. (c) Method of disposition Any executive agency designated or authorized by the Administrator to dispose of surplus property may do so by sale, exchange, lease, permit, or transfer, for cash, credit, or other property, with or without warranty, and upon such other terms and conditions as the Administrator deems proper, and it may execute such documents for the transfer of title or other interest in property and take such other action as it deems necessary or proper to dispose of such property under the provisions of this subchapter. (d) Validity of deed, bill of sale, lease, etc. A deed, bill of sale, lease, or other instrument executed by or on behalf of any executive agency purporting to transfer title or any other interest in surplus property under this subchapter shall be conclusive evidence of compliance with the provisions of this subchapter insofar as concerns title or other interest of any bona fide grantee or transferee for value and without notice of lack of such compliance. (e) Bids for disposal; advertising; procedure; disposal by negotiation; explanatory statement (1) All disposals or contracts for disposal of surplus property (other than by abandonment, destruction, donation, or through contract brokers) made or authorized by the Administrator shall be made after publicly advertising for bids, under regulations prescribed by the Administrator, except as provided in paragraphs (3) and (5) of this subsection. (2) Whenever public advertising for bids is required under paragraph (1) of this subsection (A) the advertisement for bids shall be made at such time previous to the disposal or contract, through such methods, and on such terms and conditions as shall permit that full and free competition which is consistent with the value and nature of the property involved; (B) all bids shall be publicly disclosed at the time and place stated in the advertisement; (C) award shall be made with reasonable promptness by notice to the responsible bidder whose bid, conforming to the invitation for bids, will be most advantageous to the Government, price and other factors considered: Provided, That all bids may be rejected when it is in the public interest to do so. (3) Disposals and contracts for disposal may be negotiated, under regulations prescribed by the Administrator, without regard to paragraphs (1) and (2) of this subsection but subject to obtaining such competition as is feasible under the circumstances, if— (A) necessary in the public interest during the period of a national emergency declared by the President or the Congress, with respect to a particular lot or lots of personal property or, for a period not exceeding three months, with respect to a specifically described category or categories of personal property as determined by the Administrator; (B) the public health, safety, or national security will thereby be promoted by a particular disposal of personal property; (C) public exigency will not admit of the delay incident to advertising certain personal property; (D) the personal property involved is of a nature and quantity which, if disposed of under paragraphs (1) and (2) of this subsection, would cause such an impact on an industry or industries as adversely to affect the national economy, and the estimated fair market value of such property and other satisfactory terms of disposal can be obtained by negotiation; (E) the estimated fair market value of the property involved does not exceed $1,000; (F) bid prices after advertising therefor are not reasonable (either as to all or some part of the property) or have not been independently arrived at in open competition; (G) with respect to real property only, the character or condition of the property or unusual circumstances make it impractical to advertise publicly for competitive bids and the fair market value of the property and other satisfactory terms of disposal can be obtained by negotiation; (H) the disposal will be to States, Territories, possessions, political subdivisions thereof, or tax-supported agencies therein, and the estimated fair market value of the property and other satisfactory terms of disposal are obtained by negotiation; or (I) otherwise authorized by this Act or other law. (4) Disposals and contracts for disposal of surplus real and related personal property through contract realty brokers employed by the Administrator shall be made in the manner followed in similar commercial transactions under such regulations as may be prescribed by the Administrator: Provided, That such regulations shall require that wide public notice of availability of the property for disposal be given by the brokers. (5) Negotiated sales of personal property at fixed prices may be made by the Administrator either directly or through the use of disposal contractors without regard to the limitations set forth in paragraphs (1) and (2) of this subsection: Provided, That such sales shall be publicized to the extent consistent with the value and nature of the property involved, that the prices established shall reflect the estimated fair market value thereof, and that such sales shall be limited to those categories of personal property as to which the Administrator determines that such method of disposal will best serve the interests of the Government. (6) Except as otherwise provided by this paragraph, an explanatory statement of the circumstances of each disposal by negotiation of any real or personal property having a fair market |