Page:United States Statutes at Large Volume 80 Part 1.djvu/1396

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[80 STAT. 1360]
[80 STAT. 1360]
PUBLIC LAW 89-000—MMMM. DD, 1966

1360

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15 USC 687b.

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PUBLIC LAW 89-779-NOV. 6, 1966

[80 STAT.

Administration may further order such licensee or other person to take such action or to refrain from such action as the Administration deems necessary to insure compliance with the Act and the regulations. The Administration may also suspend the license of a licensee, against whom an order has been issued, until such licensee complies with such order." (^) Section 309(c) of such Act is amended— (1) by inserting after "licensee", the first place it appears, the following: "and any other person"; (2) by striking out "inform the licensee" and inserting in lieu thereof the following: "set forth"; (3) by inserting after "licensee", the last place it appears, the following: "and any other person involved"; and (4) by inserting before "suspending", each place it appears, the following: "revoking or". (e) Section 309(e) of such Act is amended by inserting after "licensee", the first place it appears, the following: ", or other person against whom an order is issued,". (f) Section 309(f) of such Act is amended— (1) by striking out the first sentence and inserting in lieu thereof the following: "If any licensee or other person against which or against whom an order is issued under this section fails to obey the order, the Administration may apply to the United States court of appeals, within the circuit where the licensee has its principal place of business, for the enforcement of the order, and shall file a transcript of the record upon which the order complained of was entered."; and (2) by inserting "or other person" before the period at the end of the second sentence. gj,(,_ 5_ Section 310 of the Small Business Investment Act of 1958 is amended— (1) by striking out the section heading and inserting in lieu thereof "EXAMINATIONS AND INVESTIGATIONS"; and (2) by inserting " (a) " after "SEC. 310.", and by adding at the end thereof a new subsection as follows: " (b) Each small business investment company shall be subject to examinations made by direction of the Administration by examiners selected or approved by the Administration, and the cost of such examinations, including the compensation of the examiners, may in the discretion of the Administration be assessed against the company examined and when so assessed shall be paid by such company. Every such company shall make such reports to the Administration at such times and in such form as the Administration may require; except that the Administration is authorized to exempt from making such reports any such company which is registered under the Investment Company Act of 1940 to the extent necessary to avoid duplication in reporting requirements." ^^^' ^- Section 311 of the Small Business Investment Act of 1958 is amended by adding at the end thereof the following new subsection: "(c) The Administration shall have authority to act as trustee or receiver of the licensee. Upon request by the Administration, the court may appoint the Administration to act in such capacity unless the court deems such appointment inequitable or otherwise inappropriate by reason of the special circumstances involved." SEC. 7. Title III of the Small Business Investment Act of 1958 is further amended by adding at the end thereof the following new sections: