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.
�
