Page:United States Statutes at Large Volume 116 Part 1.djvu/834

 116 STAT. 808 PUBLIC LAW 107-204-JULY 30, 2002 notice and hearing prior to entry of the order would be impracticable or contrary to the public interest. "(iii) EFFECTIVE PERIOD. —^A temporary order issued under clause (i) shall— "(I) become effective immediately; "(II) be served upon the parties subject to it; and "(III) unless set aside, limited or suspended by a court of competent jurisdiction, shall remain effective and enforceable for 45 days. "(iv) EXTENSIONS AUTHORIZED.—The effective period of an order under this subparagraph may be extended by the court upon good cause shown for not longer than 45 additional days, provided that the combined period of the order shall not exceed 90 days. " (B) PROCESS ON DETERMINATION OF VIOLATIONS.— "(i) VIOLATIONS CHARGED.— If the issuer or other person described in subparagraph (A) is chsirged with any violation of the Federal securities laws before the expiration of the effective period of a temporary order under subparagraph (A) (including any applicable extension period), the order shall remain in effect, subject to court approval, until the conclusion of any legal proceedings related thereto, and the affected issuer or other person, shall have the right to petition the court for review of the order. "(ii) VIOLATIONS NOT CHARGED. — If the issuer or other person described in subparagraph (A) is not charged with any violation of the Federal securities laws before the expiration of the effective period of a temporary order under subparagraph (A) (including any applicable extension period), the escrow shall terminate at the expiration of the 45-day effective period (or the expiration of any extension period, as applicable), and the disputed pa5Tnents (with accrued interest) shall be returned to the issuer or other affected person.". (b) TECHNICAL AMENDMENT.— Section 21C(c)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 78u-3(c)(2)) is amended by striking "This" and inserting "paragraph (1)". 28 USC 994 note. SEC. 1104. AMENDMENT TO THE FEDERAL SENTENCING GUIDELINES. (a) REQUEST FOR IMMEDIATE CONSIDERATION BY THE UNITED STATES SENTENCING COMMISSION.— Pursuant to its authority under section 994(p) of title 28, United States Code, and in accordance with this section, the United States Sentencing Commission is requested to— (1) promptly review the sentencing guidelines applicable to securities and accounting fraud and related offenses; (2) expeditiously consider the promulgation of new sentencing guidelines or amendments to existing sentencing guidelines to provide an enhancement for officers or directors of publicly traded corporations who commit fraud and related offenses; and (3) submit to Congress an explanation of actions taken by the Sentencing Commission pursuant to paragraph (2) and

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