Page:United States Statutes at Large Volume 49 Part 1.djvu/1420

 74TH CONGRESS. SESS. II. CHS. 454, 462. MAY 26, 27, 1936. 13 75 SEC. 2. That t he Secre tary of the Inte rior be, and he is hereb y, anroseis site. of, as au thorized to acqu ire the above pr operty f or the p urpose o f estab- lishing same as an historic site or otherwise preserving the buildings and grounds in connection therewith : Provided, Th at the Sec ret ary of the Treasury may retain sufficient space in the building for the ne cessary operatio n of the Bureau of Custo ms. Approved, May 26, 1936. [CHAPTER 462 .] Proviso. Space for Customs Bureau. AN ACT Mare 27, 1936. To provide for the continuation of trading in unlisted securities upon national 	[S. 4023.] sec uri tie s exc han ges , for the registration of over-the-counter bro ker s and [Public, No.621.] dealers, for the filing of current information and periodic reports by issuers, and for ot her purpo ses. Be it enacted by the Senate and House o f Representatives o f the United States of America in Congress assembled, That subsection (f) of section 12 of the Securities Exchange Act of 1934 is amended to read as follows `` (f) Notwithstanding the foregoing provisions of this section, any national securities exchange, upon application to and approval of such application by the Commission and subject to the terms and conditions hereinafter set forth, (1) may continue unlisted trading privileges to which a security had been admitted on such exchange prior to March 1, 1934 ; or (2) may extend unlisted trading privileges to any security duly listed and registered on any other national securities exchange, but such unlisted trading privileges shall con- tinue in effect only so long as such security shall remain listed and registere d on any other n ational securiti es excha nge ; or (3) may extend unlisted trading privileges to any security in respect of which there is available from a registration statement and periodic reports or other data filed pursuant to rules or regulations prescribed by the Commission under this title or the Securities Act of 1933, as amended, informati on subst antially equival ent to t hat avai lable p ursuant to rules or regulations of the Commission in respect of a security duly listed and registered on a national securities exchange, but such unlisted trading privileges shall continue in effect only so long as such a registration statement remains effective and such periodic reports or other data continue to be so filed. "No application pursuant to this subsection shall be approved Conditional contin- unless the Commission finds that the continuation or extension of uance of privileges . unliste d tradin g privil eges pur suant to such ap plicatio n is nec es- sary or appropriate in the public interest or for the protection of investors . No application to extend unlisted trading privileges to Notice and hearing . any sec urity pu rsuant t o clause (2) or (3) of this subsection shall be approved except after appropriate notice and opportunity for hearing. No application to extend unlisted trading privileges to any in publicsinterest st obe securit y pursua nt to cl ause (2) or (3) of this subsecti on shall be approved unless the applicant exchange shall establish to the satis- faction of the Commission that there exists in the vicinity of such exchange sufficiently widespread public distribution of such security and sufficient public trading activity therein to render the extension of unlisted trading privileges on such exchange thereto necessary or appropriate in the public interest or for the protection of investors. No application to extend unlisted trading privileges to any security pursuant to clause (3) of this subsection shall be approve d except upon su ch terms and con ditions as will subject the issuer thereof, the officers and directors of such issuer, and every beneficial owner of more than 10 per centum of such security to Securities Exchange Act of 1934, amend- ments. Vol.48,p.894;U.S. C., p. 936 . Trading in unlisted securities upon na- tional exchan ges . Continuance of cer- tain categories. Securitre admitted before March 1, 19 34. Listed and registere d on another exchange. Equivalent registra- tion statement avail- abl e. Obligations imposed .