Page:United States Statutes at Large Volume 82.djvu/71

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PUBLIC LAW 90-000—MMMM. DD, 1968

82 STAT.]

PUBLIC LAW 90-258-FEB. 19, 1968

29^

United States Department of Agriculture or the United States Department of Justice. For the purposes of this section, the futures and cash or spot transactions and positions of any person shall include such transactions and positions of any persons directly or indirectly controlled by such person." SEC. 10. Section 5(b) of the Commodity Exchange Act, as amended (7 U.S.C. T (b)), is amended as follows: (a) By deleting, from the first sentence, the phrase "in cash transactions consummated at, on, or in a board of trade, or transactions for future delivery" and substituting the following: "in cash transactions or transactions for future delivery consummated on or subject to the rules of a board of trade"; and (b) By deleting, from the first sentence, the phrase "consummated at, on, or in a board of trade" the second time it appears in said sentence and substituting the following: "consummated on or subject to the rules of a board of trade". Compliance SEC. 11. Section 5(f) of the Commodity Exchange Act, as amended condition. (7 U.S.C. 7 (f)), is amended to read as follows: 42 Stat. 1000. " (f) When the governing board provides for making effective the final orders or decisions entered pursuant to the provisions of paragraph (b) of section 6, and the orders issued pursuant to the provisions of section 5a of this Act, and for compliance in all other respects with the requirements applicable to such board of trade under this Act." SEC. 12. Section 5a of the Commodity Exchange Act, as amended 49 Stat. 1497(7 U.S.C. 7a), is amended as follows: (a) By deleting paragraph (2) thereof and substituting therefor Recordkeeping. the following: "(2) keep all books, records, minutes, and journals of proceedings of such contract market, and its governing board, committees, subsidiaries, and affiliates in a manner that will clearly describe all matters discussed by such contract market, governing board, committees, subsidiaries and affiliates and reveal any action taken in such matters, and allow inspection at all times by any authorized representative of the United States Department of Agriculture or United States Department of Justice of all such books, records, minutes, and journals of proceedings. Such books, records, minutes, and journals of proceedings shall be kept for a period of three years from the date thereof, or for a longer period if the Secretary of Agriculture shall so direct;" (b) By deleting the word "and" at the end of paragraph (6) and substituting a semicolon for the period at the end of paragraph (7); and (c) By adding after paragraph (7) the following paragraphs: Bylaws, e "(8) enforce all bylaws, rules, regulations, and resolutions, enforcement.t c. made or issued by it or by the governing board thereof or any committee, which relate to terms and conditions in contracts of sale to be executed on or subject to the rules of such contract market or relate to other trading requirements, and which have not been disapproved by the Secretary of Agriculture pursuant to paragraph (7) of section 8a of this Act; and revoke and not enforce any such bylaw, rule, regulation, or resolution, made, issued, or proposed by it or by the governing board thereof or any committee, which has been so disapproved; and " (9) enforce all bylaws, rules, regulations, and resolutions made or issued by it or by the governing board thereof or by any committee, which provide minimum financial standards and related reporting requirements for futures commission merchants who are members of such contract market, and which have been approved by the Secretary of Agriculture."