Page:United States Statutes at Large Volume 100 Part 1.djvu/404

 100 STAT. 368

Contracts. Insurance.

15 USC 697b note.

Ante, p. 367.

Ante, p. 366.

PUBLIC LAW 99-272—APR. 7, 1986

the debentures constituting the trust or pool against which the trust certificates are issued. "(f) The Administration shall— "(1) provide for a central registration of all trust certificates sold pursuant to this section; such central registration shall include with respect to each sale, identification of each development company; the interest rate paid by the development company; commissions, fees, or discounts paid to brokers and dealers in trust certificates; identification of each purchaser of the trust certificate; the price paid by the purchaser for the trust certificate; the interest rate paid on the trust certificate; the fees of any agent for carrying out the functions described in paragraph (2); and such other information as the Administration deems appropriate; "(2) contract with an agent to carry out on behalf of the Administration the central registration functions of this section and the issuance of trust certificates to facilitate poolings; such agent shall provide a fidelity bond or insurance in such amounts as the Administration determines to be necessary to fully protect the interests of the Government; "(3) prior to any sale, require the seller to disclose to a purchaser of a trust certificate issued pursuant to this section, information on the terms, conditions, and yield of such instrument; and "(4) have the authority to regulate brokers and dealers in trust certificates sold pursuant to this section.", (d) RULES AND REGULATIONS.—(1) Notwithstanding any law, rule,

or regulation, within 60 days after the date of enactment of this Act, the Small Business Administration shall develop and promulgate final rules and regulations to implement the central registration provisions provided for in section 505(fKl) of the Small Business Investment Act, and shall contract with an agent for an initial period of not to exceed two years to carry out the functions provided for in section 505(f)(2) of such Act. (2) Notwithstanding any law, rule or regulation, within 60 days after the date of enactment of this Act, the Small Business Administration also shall consult with representatives of appropriate Federal and State agencies and officials, the securities industry, financial institutions and lenders, and small business persons, and shall develop and promulgate final rules and regulations to implement sections 504 and 505 of the Small Business Investment Act. SEC. 18009. MISREPRESENTATION AS A SMALL BUSINESS OR MINORITY CONCERN.

Section 16 of the Small Business Act is amended by adding to the end thereof the following new subsections: Contracts. "(d) Whoever misrepresents the status of any concern or person as Law a 'small business concern' or 'small business concern owned and enforcement controlled by socially and economically disadvantaged individuals', and crime. in order to obtain for oneself or another any— 15 USC 638, 644. "(1) prime contract to be awarded pursuant to section 9 or 15; "(2) subcontract to be awarded pursuant to section 8(a); 15 USC 637. "(3) subcontract that is to be included as part or all of a goal contained in a subcontracting plan required pursuant to section 8(d); or "(4) prime or subcontract to be awarded as a result, or in furtherance, of any other provision of Federal law that specif!15 USC 645.

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