Page:United States Statutes at Large Volume 53 Part 2.djvu/699

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53 STAT.] 76TH CONG., 1 ST SESS.-CH. 411 -AUG. 3 , 1939 Reserve Banks, and the Federal Deposit Insurance Corporation are hereby authorized, under such conditions as they may prescribe, to make available to the Commission such reports, records, or other information as they may have available with respect to trustees or prospective trustees under indentures qualified or to be qualified under this title, and to make through their examiners or other employees for the use of the Commission, examinations of such trus- tees or prospective trustees. Every such trustee or prospective trus- tee shall, as a condition precedent to qualification of such indenture, consent that reports of examinations by Federal, State, Territorial, or District authorities may be furnished by such authorities to the Commission upon request therefor. "Notwithstanding any provision of this title, no report, record, or other information made available to the Commission under this sub- section, no report of an examination made under this subsection for the use of the Commission, no report of an examination made of any trustee or prospective trustee by any Federal, State, Territorial, or District authority having jurisdiction to examine or supervise such trustee, no report made by any such trustee or prospective trustee to any such authority, and no correspondence between any such authority and any such trustee or prospective trustee, shall be divulged or made known or available by the Commission or any member, officer, agent, or employee thereof, to any person other than a member officer agent, or employee of the Commission: Provided, That the Commis- sion may make available to the Attorney General of the United States, in confidence, any information obtained from such records, reports of examination, other reports, or correspondence, and deemed necessary by the Commission, or requested by him, for the purpose of enabling him to perform his duties under this title. "(c) Any investigation of a prospective trustee, or any proceeding or requirement for the purpose of obtaining information regarding a prospective trustee, under any provision of this title, shall be limited- "(1) to determining whether such prospective trustee is quali- fied to act as trustee under the provisions of subsection (b) of section 310; "(2) to requiring the inclusion in the registration statement or application of information with respect to the eligibility of such prospective trustee under paragraph (1) of subsection (a) of such section 310; and "(3) to requiring the inclusion in the registration statement or application of the most recent published report of condition of such prospective trustee, as described in paragraph (2) of such subsection (a), or, if the indenture does not contain the provision with respect to combined capital and surplus authorized by the last sentence of paragraph (2) of subsection (a) of such section 310, to determining whether such prospective trustee is eligible to act as such under such paragraph (2). "(d) The provisions of section 4 (b) of the Securities Exchange Act of 1934 shall be applicable with respect to the power off the Commission to appoint and fix the compensation of such officers, attorneys, examiners, and other experts, and such other officers and employees, as may be necessary for carrying out its functions under this title. "C OURT REVIEW OF ORDERS; JURISDICTION OF OFFENSES AND SUITS "SEC. 322. (a) Orders of the Commission under this title (includ- ing orders pursuant to the provisions of sections 305 (b) and 307 (c)) 1175 Consent by trustee ascondition precedent to qualification of in- denture. Restriction on un- authorized divulging ofinformation. Prordo. Disclosure to Attor. ney General. Investigation of prospective trustee; powers limited. Employment of of- fecers. experts, etc. 48 Stat. 885. 15U.S.C. §7d(b). Court review of orders.