Page:United States Statutes at Large Volume 106 Part 5.djvu/348

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106 STAT. 3986 PUBLIC LAW 102-550—OCT. 28, 1992 (1) FILING OF PETITION. —An enteiprise that is not classified as critically undercapitalized and is the subject of a classification under section 1364 or a discretionary supervisory action taken under this subtitle by the Director (other than action to appoint a conservator under section 1366 or 1367 or action under section 1369) may obtain review of the classification or action by filing, within 10 days after receiving written notice of the Director's action, a written petition requesting that the classification or action of the Director be modified, terminated, or set aside. (2) PLACE FOR FILING. —^A petition filed pursuant to this subsection shall be filed in the United States Court of Appeals for the District of Columbia Circuit. (b) SCOPE OF REVIEW. —The Court may modify, terminate, or set aside an action taken by the Director and reviewed by the Court pursuant to this section only if the court finds, on the record on which the Director acted, that the action of the Director was arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with applicable laws. (c) UNAVAILABILITY OF STAY. — The commencement of proceedings for judicial review pursuant to this section shall not operate as a stay of any action taken by the Director. Pending judicial review of the action, the court shall not have jurisdiction to stay, enjoin, or otherwise delay any supervisory action taken by the Director with respect to an enterprise that is classified as significantly or critically undercapitalized or any action of the Director that results in the classification of an enterprise as significantly or critically undercapitalized. (d) LIMITATION ON JURISDICTION. —Except as provided in this section, no court shall have jurisdiction to affect, by ii\junction or otherwise, the issuance or effectiveness of any classification or action of the Director under this subtitle (other than appointment of a conservator under section 1366 or 1367 or action under section 1369) or to review, modify, suspend, terminate, or set aside such classification or action. Subtitle C—Enforcement Provisions 12 USC 4631. SEC. 1371. CEASE-AND-DESIST PROCEEDINGS. (a) GROUNDS FOR ISSUANCE AGAINST ADEQUATELY CAPITAUZED ENTERPRISES. — The Director may issue and serve a notice of charges under this section upon an enterprise that is classified (for purposes of subtitle B) as adequately capitalized or upon any executive officer or director of such an enterprise, if in the determination of the Director, the enterprise, executive officer, or director is engaging or has engaged, or the Director has reasonable cause to believe that the enterprise, executive officer, or director is about to engage, in— (1) any conduct that threatens to cause a significant depletion of the core capital of the enterprise; (2) any conduct or violation that may result in the issuance of an order described in subsection (d)(D; or (3) any conduct that violates— (A) any provision of this title, the Federal National Mortgage Association Charter Act, the Federal Home Loan Mortgage Corporation Act, or any order, rule, or regulation