the property received by the trustee from the depositary and charge the same with the costs and expenses of maintenance and liquidation Distributions to and distribute the net proceeds thereof to the creditors who would cr ed itors. have been entitled thereto under the provisions of the law or agree- Dividends, restric- ment providing for the deposit or transfer of the property, and each tion. such creditor shall thereafter be entitled to dividends from the estate only after all creditors of the same rank shall have received the same percentage. ti.oma jurisdic- "(4) The court shall have summary jurisdiction of any proceed- ings to hear and determine the rights of any parties under this subdivision f and to hear and determine the sufficiency of the prop- erty of the estate for the full payment and discharge of all claims on account of all face-amount certificates sold by or on behalf of the Notice of heing debtor. Due notice of any hearing in such proceedings shall be given to every depositary and State agency which is a party in interest. Inapplicability of "(5) Where the provisions of subsection (c) of section 28 are not Antp.'32. applicable, the provisions of this section will not apply." 30stat. 7. 3 atS. 7 (b) Section 44 of said Act of July 1,1898 as amended, is amended Supp. V, 172. by adding at the end of subdivision (a) thereof the following sentence: Appointment of "If the bankrupt is a face-amount certificate company, as defined Antc,p. 79. in section 4 of the Investment Company Act of 1940, the court alone shall make the appointment; but the court shall not make such appointment without first notifying the Securities and Exchange Commission and giving it an opportunity to be heard." PERIODIC AND OTHER REPORTS; REPORTS OF AFFILIATED PERSONS Annual reports. etc. SEC. 30. (a) Every registered investment company shall file annu- ally with the Commission such information, documents, and reports as investment companies having securities registered on a national 4ts 89 4 S I7m 8 securities exchange are required to file annually pursuant to section (a);8upp.V, 78m. 13 (a) of the Securities Exchange Act of 1934 and the rules and regulations issued thereunder. Data required. (b) Every registered investment company shall file with the Commission- (1) such information and documents (other than financial statements) as the Commission may require, on a semi-annual or quarterly basis, to keep reasonably current the information and documents contained in the registration statement of such company filed under this title; and (2) copies of every periodic or interim report or similar com- munication containing financial statements and transmitted to any class of such company's security holders, such copies to be filed not later than ten days after such transmission. Any information or documents contained in a report or other com- munication to security holders filed pursuant to paragraph (2) may be incorporated by reference in any report subsequently or con- currently filed pursuant to paragraph (1). pMateibed report 0 (c) The Commission shall issue rules and regulations permitting the filing with the Commission, and with any national securities exchange concerned, of copies of periodic reports, or of extracts there- from, filed by any registered investment company pursuant to sub- sections (a) and (b), n lieu of any reports and documents required 1379t.
- 9tat. of such company under section 13 or 15 (d) of the Securities
75'U. s .C . 9 7s8, Exchange Act of 1934. 8(d).I (d) Every registered investment company shall transmit to its to stooldersp. stockholders, at least semi-annually, reports containing such of the 836 [54 STAT. PUBLIC LAWS-CH. 686f-AUG. 22, 1940