Page:United States Statutes at Large Volume 48 Part 1.djvu/930

 904 73d C ONGRESS. SESS. II. CH. 404. JUNE 6, 1934 . Validity of transac- (c) Nothing in this title shall be construed (1) to affect the va- tions entered in good faith not affectedd lidity of any loan or extension of credit (or any extension or renewal thereof) made or of any lien created prior or subsequent to the enactment of this title, unless at the time of the making of such loan or extension of credit (or extension or renewal thereof) or the creating of such lien, the person making such loan or extension of credit (or extension or renewal thereof) or acquiring such lien shall have actual knowledge of facts by reason of which the making of such loan or extension of credit (or extension or renewal thereof ) or the acquisition of such lien is a violation of the provisions of this title or any rule or regulation thereunder, or (2) to afford a defense to the collection of any debt or obligation or the enforcement of any lien by any person who shall have acquired such debt, obligation, or lien in good faith for value and without actual knowledge of the violation of any provision of this title or any rule or regulation thereunder affecting the legality of such debt, obligation, or lien. Foreign securities ex- FOREIGN SECURITIES EXCHANGES changes. Unl awful tra nsac- SEC. 30. (a) It shall be unlawful for any broker or dealer, directly tions °n. or indirectly, to make use of the mails or of any means or instru- mentality of interstate commerce for the purpose of effecting on an exchange not within or subject to the jurisdiction of the United States, any transaction in any security the issuer of which is a resident of, or is organized under the laws of, or has its principal place of business in, a place within or subject to the jurisdiction of the United States, in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors or to prevent the evasion of this title. Business without the (b) The provisions of this title or of any rule or regulation there- jurisdiction of United under shall not apply to any person insofar as he transacts a business in securities without the jurisdiction of the United States, unless he transacts such business in contravention of such rules and regu- lations as the Commission may prescribe as necessary or appropriate to prevent the evasion of this title. Registration fees. Payment. REGISTRATION FEES SEC. 31. Every national securities exchange shall pay to the Com- mission on or before March 15 of each calendar year a registration fee for the privilege of doing business as a national securities exchange during the preceding calendar year or any part thereof. Such fee shall be in an amount equal to one five-hundredths of 1 per centum of the aggregate dollar amount of the sales of securities tr ansa cted on such nat iona l se curi ties exc hang e du ring the pre cedi ng calendar year and subsequent to its registration as a national securi- ties exchange. Penalties. PENALTIES Violation of Viola tion of of provi- sions SEC. 32 . Any person who willfully violates any provision of this sions tions- title, or any rule or regulation thereunder the violation of which is made unlawful or the observance of which is required under the False or misleading terms of this title, or any person who willfully and knowingly statement. makes, or causes to be made, any statement in any application, report, or document required to be filed under this title or any rule or regulation thereunder, which statement was false or misleading with Pun ishment for. respect to any material fact, shall upon conviction be fined not more than $10 9 000, or imprisoned not more than two years, or both, exc ept that when such person is an exchange, a fine not exceeding $500,000 may be imposed ; but no person shall be subject to im-