The "Act" is the Defense Production Act of 1950 (Public Law 81-774, 81st Congress 774th bill undertaken) as stated in the EO... By the authority vested in me as President by the Constitution and the laws of the United States of America, including the Defense Production Act of 1950...
50 U.S.C. App. 2061 and other such references is here...
@TITLE 50, APPENDIXWAR AND NATIONAL DEFENSE
@DEFENSE PRODUCTION ACT OF 1950 (§§ 20612172) - CIVILIAN PROTECTION FROM WAR HAZARDS