Page:United States Statutes at Large Volume 101 Part 2.djvu/263

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PUBLIC LAW 100-000—MMMM. DD, 1987

PUBLIC LAW 100-181—DEC. 4, 1987

101 STAT. 1249

Public Law 100- 181 100th Congress An Act To extend and amend the authorization of appropriations for the Securities and Exchange Commission, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. SECTION 1. This Act may be cited as the "Securities and Exchange Commission Authorization Act of 1987". TITLE I—AUTHORIZATION

Dec. 4, 1987 [S. 1452] Securities and Exchange Commission Authorization Act of 1987. 15 USC 78a note.

SEC. 101. Section 35 of the Securities Exchange Act of 1934 (15 U.S.C. 78kk) is amended to read as follows: "AUTHORIZATION OF APPROPRIATIONS

"SEC. 35. (a) There are authorized to be appropriated to carry out the functions, powers, and duties of the Commission— "(1) $158,600,000 for fiscal year 1988; and "(2) $172,200,000 for fiscal year 1989. "(b) Of the amounts authorized by subsection (a), the amount which may, subject to section 35A, be obligated or expended by the Commission for the purpose of funding a contract for the establishment and operation of the electronic data gathering, analysis, and retrieval ('EDGAR') system shall not exceed— "(1) $15,000,000 for fiscal year 1988; and "(2) $20,000,000 for fiscal year 1989.". SEC. 102. The Securities Exchange Act of 1934 is amended by inserting after section 35 the following new section: " REQUIREMENTS FOR THE EDGAR SYSTEM

Contracts.

"SEC. 35A. (a)(1) Of the funds appropriated to the Commission 15 USC 1811. pursuant to section 35 of this title for fiscal year 1988 which are available pursuant to section 350t)) for establishment or operation of the electronic data gathering, analysis, and retrieval ('EDGAR') system, the Commission may not obligate or expend more than $5,000,000 for the establishment or operation of the EDGAR system unless the Commission has made the certification required by subsection (c) of this section. "(2) Notwithstanding section 350t)), no funds appropriated for fiscal year 1989 may be obligated or expended for the establishment or operation of the EDGAR system, unless the Commission has— "(A) filed each report required during fiscal year 1988 by Reports. subsection (b) of this section; and "(B) made the certification required by subsection (c) of this section. "(3) Amounts which are available to the Commission under section 350t)) for the EDGAR contract shall be the exclusive source of funds for the procurement and operation of the systems created