Page:United States Statutes at Large Volume 48 Part 1.djvu/106

 80 Notice. Investigations a u - thorized. Powers of C ommis- sio n. Grounds for issuance of stop order . Service of notice. Cou rt review of Com- missi on's orde rs. Petition allowed to appropriatecircuit court of appe als, etc. 73d CONGRESS. SESS. I. CH. 38. MAY 27, 1933 . omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, the Com- mission may, after notice by personal service or the sending of confirmed telegraphic notice, and after opportunity for hearing (at a time fixed by the Commission) within fifteen days after such notice by personal service or the sending of such telegraphic notice, issue a stop order suspending the effectiveness of the registration statement. When such statement has been amended in accordance with such stop order the Commission shall so declare and thereupon the st op order shall cea se to be effective. (e) The Commission is hereby empowered to make an examina- tion in any case in order to determine whether a stop order should issue under subsection (d). In making such examination the Com- mission or any officer or officers designated by it shall have access to and may demand the production of any books and papers of, and may administer oaths and affirmations to and examine, the issuer, underwriter, or any other person, in respect of any matter relevant to the examination, and may, in its discretion, require the production of a b alance sh eet exhib iting the assets a nd liabil ities of the issue r, or its income statement, or both, to be certified to by a public or certified accountant approved by the Commission. I f t h e i s su e r or underwriter shall fail to cooperate, or shall obstruct or refuse to permit the making of an examination, such conduct shall be proper groun d for the is suance of a stop or der. (f) Any notice required under this section shall be sent to or served on the issuer, or, in case of a foreign government or political subdivision thereof, to or on the underwriter, or, in the case of a foreign or Territorial person, to or on its duly authorized representa- tive i n the United State s name d in t he regi strati on sta tement, prop - erly directed in each case of telegraphic notice to the address given in such statement. COURT REVIEW OF ORDERS SEC. 9. (a) Any person aggrieved by an order of the Commission may obtain a review of such order in the Circuit Court of Appeals of the Unite d Stat es, wi thin a ny cir cuit wh erein such p erson reside s or has his principal place of business, or in the Court of Appeals of the District of Columbia, by filing in such court, within sixty days after the entry of such order, a written petition praying that the espy thereof to Com- mis sion. order of the Commission be modified or be set aside in whole or in Proceedings and evi- part. A copy of such petition shall be forthwith served upon the de nte. Commission, and thereupon the Commission shall certify and file in the court a transcript of the record upon which the order complained of was entered. No objection to the order of the Commission shall be considered by the court unless such objection shall have been urged before the Commission. The finding of the Commission as to the facts, if supported by evidence, shall be conclusive. If either party shall apply to the court for leave to adduce additional evidence, and shall show to the satisfaction of the court that such additional evi- dence is mat erial and th at the re wer e reaso nable ground s for failur e to adduce such evidence in the hearing before the Commission, the court may order such additional evidence to be taken before the Commission and to be adduced upon the hearing in such manner and upon such terms and conditions as to the court may seem proper. The Commission may modify its findings as to the facts, by reason of the additi onal e videnc e so t aken, and it shall file s uch mo dified or new findings, which, if supported by evidence• shall be conclu-