Page:United States Statutes at Large Volume 106 Part 5.djvu/351

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3989 (1) TEMPORARY ORDER.—I f a notice of charges served under section 1371(a) or (b) specifies on the basis of particular facts and circumstances that the books and records of the enterprise served are so incomplete or inaccurate that the Director is unable, through the normal supervisory process, to determine the financial condition of the enterprise or the details or the purpose of any transaction or transactions that may have a material effect on the financial condition of that enterprise, the Director may issue a temporary order requiring— (A) the cessation of any activity or practice which gave rise, whether in whole or in part, to the incomplete or inaccurate state of the books or records; or (B) affirmative action to restore the books or records to a complete and accurate state. (2) EFFECTIVE PERIOD.— Any temporary order issued under paragraph (1)— (A) shall become effective upon service; and (B) unless set aside, limited, or suspended by a court in proceedings pursuant to subsection (d), shall remain in effect and enforceable until the earlier of— (i) the completion of the proceeding initiated under section 1371 in connection with the notice of charges; or (ii) the dat€! the Director determines, by examination or otherwise, that the books and records of the enterprise are accurate and reflect the financial condition of the enterprise. (d) JUDICIAL REVIEW. — ^ ^ enterprise, executive officer, or director that has been served with a temporary order pursuant to this section may apply to the United States District Court for the District of Columbia within 10 days after such service for an injunction setting aside, limiting, or suspending the enforcement, operation, or effectiveness of the order pending the completion of the administrative proceedings pursuant to the notice of cnarges served upon the enterprise, executive officer, or director under section 1371 (a) or (b). Such court shall have jurisdiction to issue such injunction. (e) ENFORCEMENT BY ATTORNEY GENERAL. —In the case of violation or threatened violation of, or failure to obey, a temporary order issued pursuant to this section, the Director may request the Attorney General of the United States to bring an action in the United States District Court for the District of Columbia for an injunction to enforce such order or may, under the direction and control of the Attorney General, bring such an action. If the court finds any such violation, threatened violation, or failure to obey, the court shall issue such injunction. SEC. 1373. HEARINGS. 12 USC 4633. (a) REQUIREMENTS. — (1) VENUE AND RECORD.— Any hearing under section 1371 or 1376(c) shall be held on the record and in the District of Columbia. (2) TIMING.—Any such hearing shall be fixed for a date not earlier than 30 days nor later than 60 days after service of the notice of charges under section 1371 or determination to impose a penalty under section 1376, unless an earlier or

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