Page:United States Statutes at Large Volume 48 Part 1.djvu/611

 73d CONGRESS. SESS. II. CH. 120 . APRIL 13, 1 934. 585 SEC. 2. That subsection 2 of section 2 of the Perishable Agricul- Unfair conduct . tural Commodities Act, 1930, is hereby amended to read as follows Br each of c ontr act "(2) For any dealer to reject or fail to deliver in accordance with to cons ign, etc ., goods, the terms of the contract without reasonable cause any perishable added . agricultural commodity bought or sold or contracted to be bought, sold, or consi gned in inter state or foreign commerce by such dealer ;" SEC. 3 . That subsection 4 of section 2 of the Perishable Agricul- ~Talse s maem nt sa~- tural Commodities Act, 1930, is hereby amended to read as fellows : tions. "(4) For any commission merchant, dealer, or broker to make, for a fraudulent purpose, any false or misleading statement in connec- tion with any transaction involving or concerning the condition of the market for any perishable agricultural commodity which is received in interstate or foreign commerce by such commission mer- chant, or bought or sold, or contracted to be bought, sold, or con- signed in such commerce by such dealer ; or the purchase or sale of which in such commerce is n egotiated by such broker ; or to fai l o r refuse truly and correctly to account promptly in respect of any such transaction in any such commodity to the person with whom such transaction is had ;" SEC. 4 . That paragraph (b) of section 4 of the Perishable Agri- reuses es for license cultural Commodities Act, 1930, is hereby amended to read as follows "(b) The Secretary shall refuse to issue a license to an applicant if he finds (1) that the applicant has previously, at any time within Previous offense. two years, been responsible in whole or in part for any violation of the provisions of section 2 for which a license of the applicant, or the license of any partnership, association, or corporation in which the applicant held any office, or, in the case of a partnership, had any share or interest, was revoked, or (2) if he finds after notice and Applicant responsi- ble for repeated, etc ., hearing that at any time within two years said applicant was violations . resp onsi ble in w hole or in p art for any flag rant or repe ated vio la- tions of the provisions of section 2, or (3) in case the applicant is a me mber in a p art- n ershi p re spons ible for partnership, association, or corporation, that any individual hold- unlawful act, revoking ing any office or, in the c ase of a partn ership, havin g any i nteres t or license. share in the applicant, had previously, at any time within two years, been responsible in whole or in part for any violations of the pro- visions of section 2 for which the license of such individual, or of Where applicant has failed to pay an out- any partnership, association, or corporation in which such person standing reparation held any office, or, in the case of a partnership, had any share or award. interest, was revoked, or if he finds after notice and hearing that at any time within two years said applicant was responsible in whole or in part for any flagrant or repeated violations of the provisions of sect ion 2, or (4) that t he appl icant, subjec t to hi s right of ap peal under section 7(b), has failed, except in case of bankruptcy, to pay within the time limit provided therein any reparation order which has been issued, within two years, against him as an individual, or against a partnership of which he was a member, or an association or corporation in which he held any office, or, in case the applicant is a partnership, association, or corporation, that any individual holding any office, or in the case of a partnership, having any inter- est or share in the applicant, subject to his right of appeal under section 7(b), has failed, except in the case of bankruptcy, to pay within the time limit provided therein any reparation order which has been issued, within two years, against him as an individual, or against a partnership of which he was a member, or an association or corporati on in which h e held any of fice. Notwithstanding the Provisions maybe suspended and license foregoing provisions, the Secretary, in the case of such applicant, granted, or flawful con- may issue a license if the applicant furnishes a bond or other satis- duct, etc. factory assurance that his business will be conducted in accordance