Page:United States Statutes at Large Volume 49 Part 1.djvu/901

 856 74TH CONGRESS. SESS. I. CH. 687. AUGUST 26 .1935 . any such person to make adequate provision for currently deter- mining such costs and other facts. Such reports shall be made under oath unless the Commission otherwise specifies. Unlawful interfer- "(b) It shall be unlawful for any person willfully to hinder, ence. delay, or obstruct the making, filing, or keeping of any information, document, report, memorandum, record, or account required to be made, filed, or kept under this Act or any rule, regulation, or order thereunder . Offi cial s de aling in a securities. OFFICIALS DEALING IN SECURITIES ; INTERLOCKING DIRECTORATES Rest rict ion . Interlocking director- ates . Rest rict ion . " SEC. 305 . (a) It shall be unlawful for any officer or director of any public utility to receive for his own benefit, directly or indi- rectly, any money or thing of value in respect of the negotia tion, hypothecation, or sale by such public utility of any security issued or to be issued by such public utility, or to share in any of the pro- ceeds thereof, or to participate in the making or paying of any dividends of such public utility from any funds properly included in capital account. " (b) After six months from the date on which this Part takes effect, it shall be unlawful for any person to hold the position of officer or director of more than one public utility or to hold the position of officer or director of a public utility and the position of officer or director of any bank, trust company, banking association, or firm that is authorized by law to underwrite or participate in the marketing of securities of a public utility, or officer or director of any company supplying electrical equipment to such public utility, unless the holding of such positions shall have been authorized by order of the Commission, upon due showing in form and manner prescribed by the Commission, that neither public nor private inter- ests will be adversely affected thereby . The Commission shall not grant any such authorization in respect of such positions held on the date on w hich this Part takes effe ct, u nless appl icati on for such authorization is filed with the Commission with in sixty days after that date. Com pl ain ts. " CO MPL AI NTS Petition containing. " SEC. 306. Any person, State, municipality, or State commission complaining of anything done or omitted to be done by any licensee or public utility in contravention of the provisions of this Act may apply to the Commission by petition which shall briefly state the Copy to licensee or facts, whereupon a statement of the complaint thus made shall be public ar`lity' forwarded by the Commission to suc h licensee or public utility, who shall be called upon to satisfy the complaint or to answer the same in writing within a reasonable time to be specified by the Commis- Investigation by sion. If such licensee or public utility shall not satisfy the com- Commission. plaint within the time specified or there shall appear to be any reasonable ground fo r investigating such complaint, it shall be the duty of the Commission to investigate the matters complained of in such manner and b y such means as it shall find proper. In vest igat ions by " INVEStiGAtiONS BY COMMISSION ; AIIJ NDANCE OF WITNESSES Commission. DEPOSITIONS Authority to make. " SEC. 307 . (a) The Commission may investigate any facts, con- ditions, practices, or matters which it may find necessary or proper in order to determine whether any person has violated or is about to violate any provision of this Act or any rule, regulation, or order thereunder, or to aid in the enforcement of the provisions of this Act or in prescribing rules or regulations thereunder, or in obtaining