Page:United States Statutes at Large Volume 49 Part 1.djvu/882

 74TII CO` GRESS. SESS. I. CH. 687 . AUGUST 26, 1935 . 837 of this title or any rule, regulation, or order thereunder, know- ing such statement or entry to be false or misleading in any material respect, or any person who willfully destroys (except after such time as may be prescribed under any rules or regulations under this title), mutilates, alters, or by any means or device falsifies any account, correspondence, memorandum, book, paper, or other record kept or required to be kept under the provisions of this title or any rule, regulation, or order thereunder, shall upon con- viction be fined not more than $10. 000 or impri soned not m ore than two years, or both except that in the case of a violation of a provision of subsection (a) or (b) of section 4 by a holding company which is not an individual, the fine imposed upon such holding company shall bea fine not exceeding $200,000 ; but no person shall be convicted under this section for the violation of any rule, regulation, or order if he proves that he had no knowledge of such rule, regulation, or order. STUDY OF PUBLIC-UtiLITY AND INVESTMENT COMPANIES SEC. 30. The Commission is authorized and directed to make studies and investigations of public-utility companies, the territories served or w hich can be serv ed by pu blic-uti lity com panies, and the manner in which the same are or can be served, to determine the sizes, types, and locations of public-utility companies which do or can operate most economically and efficiently in the public interest, in the interest of investo rs and c onsumers, and in further ance of a wider and more economical use of gas and electric energy ; upon the basis of such investigations and studies the Commission shall make public from time to time its recommendations as to the type and size of geograph- ically and economically integrated public-utility systems which, hav- ing regard for the nature and character of the locality served, can best promote and harmonize the interests of the public, the investor, and the consumer. The Commission is authorized and directed to make a study of the functions and activities of investment trusts and investment companies, the corporate structures, and investment poli- cies o f such trusts and companies, the influen ce exerted by such trusts and companie s upon c ompanies in whic h they a re inter ested, a nd the influence exerted by interests affiliated with the management of such trus ts and c ompanies upon th eir inve stment p olicies, and to report the results of its study and its recommendations to the Congress on or before January 4, 1937. EMPLOYEES OF THE COMMIS SION SEC. 31 . For the purposes of this title, the Commission may select, empl oy, and fix the compensa tion of such att orneys, examiner s, and other experts as sha ll be necessa ry for the tr ansaction of t he business of the Commission in respect of this title without regard to the pro- visions of other laws applicable to the employment and compensation of officers or employees of the United States ; and the Commission may, s ubject to the civil-service laws, appoin t such other o fficers and employees as are necessary in the execution of the functions of the Commission and fix their salaries in accordance with the Classifica- tion Act of 1923, as amended. SEPARABILITY OF PROVISIONS SEC. 32 . If any provision of this title or the application of such provision to any person or circumstances shall be held invalid, the remainder of the title and the appli cation of suc h provision to persons or circumstances other than those as to which it is held invalid shall not be affected thereby. Falsification of ac- counts, etc. Public-utility and in. ves tment companies. Studies and investi- gations. Recommendations. Investment trusts. Commission employ ees. Appoin tment. Separability of pro- visions.