Page:United States Statutes at Large Volume 49 Part 1.djvu/869

 824 74TH CONGRESS. SESS. I. CH. 687. AUGUST 26, 1935. such rules and regulations or orders as the Commission deems neces- ary or appropriate to protect the financial integrity of companies in holding-company systems, to safeguard the working capital of public- utility companies, to prevent the payment of dividends out of capital or u nearned surplus, or to preven t the ci rcumven tion of the pro vi- sions of this title or the rules, regulations, or orders thereunder. Intercompany seen- ( d) It s hall be unlawfu l for a ny regis tered h olding c ompany, by rity transactions. use of the mails or any means or instrumentality of interstate com- merce, or otherwise, to sell any security which it owns of any public- utility company, or any utility assets, m contravention of such rules and regulations or orders regarding the consideration to be received for such sale, maintenance of competitive conditions, fees and com- missions, accounts, disclosure of interest, and similar matters as the Commission deems necessary or appropriate in the public interest or for the protection of investors or consumers or to prevent the circum- vention of the provisions of this title or the rules, regulations, or or ders th ereunder. So licit ation of p ros- (e) It shall be unlawful for any person to solicit or to permit the ies. use of his or its name to solicit, by use of the mails or any means or instrumentality of interstate commerce, or otherwise, any proxy, power of attorney, consent, or authorization regarding any security of a registered holding company or a subsidiary company thereof in contravention of such rules and regulations or orders as the Commission deems necessary or appropriate in the public interest or for the protection of investors or consumers or to prevent the circu mvention of the provision s of this title or the rul es, regulations, or orders thereunder. Intercompany trans- (f) It shall be unlawful for any registered holding company or actions not otherwise unlawful ; rule-making subsidiary company thereof, by use of the mails or any means or power of commission. instrumentality of interstate commerce, or otherwise, to negotiate, enter into, or take any step in the performance of any transaction not otherwise unlawful under this title, with any company in the same holding-company system or with any affiliate of a company in such holding-company system in contravention of such rules and regula- tions or orders regard ing repo rts, ac counts, costs, maintena nce of competitive conditions, disclosure of interest, duration of contracts, and similar matters as the Commission deems necessary or appro- priate in the publ ic interest or for the pro tection of investors or c on- sumers or to prevent the circumvention of the provisions of this title or the rules and regulations thereunder. Transactions of affili- ( g) It shall be unlawful for any affiliate of any public-utility ates with parent com- pan y. company, by use of the mails or any means or instrumentality of interstate commerce, or for any affiliate of any public-utility com- pany engaged in interstate commerce, or of any registered holding company or any subsidiary company thereof, by use of the mails or any mean s or in strumen tality o f inter state co mmerce, or othe rwise, to negotiate, enter into, or take any step in the performance of any transact ion not otherw ise unla wful un der this title, with an y such company of which it is an affiliate, in contravention of such rules and regulations or orders regarding reports, accounts, costs, main- tenance of competitive conditions, disclosure of interest, duration of contracts, and similar matters as the Commission deems necessary or appropri ate to prevent the cir cumvent ion of t he prov isions o f this title. Contributions public o office. ca n- didates fo (h) I t shall be unl awful fo r any r egistere d holdi ng compa ny, or any subsidiary company thereof, by use of the mails or any means or instrumentality of interstate commerce, or otherwise, directly or indirectly-