Page:United States Statutes at Large Volume 54 Part 1.djvu/880

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PUBLIC LAWS-CH. 686-AUG. 22 , 1940 Contracts in viola- tion of designated provisions. Liability provisions. Preventing compli- ance with title. Willful violations. Untrue statements, etc. Penalty. Restriction. (b) Every contract made in violation of any provision of this title or of any rule, regulation, or order thereunder, and every contract heretofore or hereafter made, the performance of which involves the violation of, or the continuance of any relationship or practice in vio- lation of, any provision of this title, or any rule, regulation, or order thereunder, shall be void (1) as regards the rights of any person who, in violation of any such provision, rule, regulation, or order, shall have made or engaged in the performance of any such contract, and (2) as regards the rights of any person who, not being a party to such contract, shall have acquired any right thereunder with actual knowledge of the facts by reason of which the making or perform- ance of such contract was in violation of any such provision, rule, regulation, or order. LIABILITY OF CONTROLLING PERSONS; PREVENTING COMPLIANCE WITH TITLE SEC. 48. (a) It shall be unlawful for any person, directly or indirectly, to cause to be done any act or thing through or by means of any other person which it would be unlawful for such person to do under the provisions of this title or any rule, regulation, or order thereunder. (b) It shall be unlawful for any person without just cause to hinder, delay, or obstruct the making, filing, or keeping of any infor- mation, document, report, record, or account required to be made, filed, or kept under any provision of this title or any rule, regulation, or order thereunder. PENALTIES SEC. 49. Any person who willfully violates any provision of this title or of any rule, regulation, or order hereunder, or any person who willfully in any registration statement, application, report, account, record, or other document filed or transmitted pursuant to this title or the keeping of which is required pursuant to section 31 (a) makes any untrue statement of a material fact or omits to state any material fact necessary in order to prevent the statements made therein from being materially misleading in the light of the circumstances iunder which they were made, shall upon conviction be fined not more than $10,000 or imprisoned not more than two years, or both; but no person shall be convicted under this section for the violation of any rule, regulation, or order if he proves that he had no actual knowledge of such rule, regulation, or order. EFFECT ON EXISTING LAW Effect on existing law. 48 Stat. 74, 881; 49 Stat. 803; 53 Stat. 1149. Separability of pro- isions. SEC. 50. Except where specific provision is made to the contrary, nothing in this title shall affect (1) the jurisdiction of the Commission under the Securities Act of 1933, the Securities Exchange Act of 1934, the Public Utility Holding Company Act of 1935, the Trust Indenture Act of 1939, or title II of this Act, over any person, security, or trans- action, or (2) the rights, obligations, duties, or liabilities of any person under such Acts; nor shall anything in this title affect the jurisdiction of any other commission, board, agency, or officer of the United States or of any State or political subdivision of any State, over any person, security, or transaction, insofar as such jurisdiction does not conflict with any provision of this title or of any rule, regulation, or order hereunder. SEPARABILITY OF PROVISIONS SEC. 51. If any provision of this title or any provision incorporated in this title by reference, or the application of any such provision to 846 [54 STAT.