Page:United States Statutes at Large Volume 49 Part 1.djvu/970

 74 Th CONGRESS. SESS. I. CH. 774. AUGUST 27, 1935 . plemental order, but no such modification shall invalidate action previously taken, or rights or obligations which have previously arisen, in conformity with the Commission's prior order or orders auth ori zing su ch solicitation use, e mploymen t, or ac tion. The Commission may, in its discretion, make such investigations as it dee ms neces sary to determin e whethe r any pe rson ha s violat ed or is about to violate any provision of this subsection (p) or any rule or regulation thereunder, and may require or permit any person to file with it a statement in writing, under oath, or otherwise as the Commission shall determine, as to all the facts and circumstances concerning the matter to be investigated. The Commission is author- ized, in its discretion, to publish information concerning any such violations, and to investigate any such facts, conditions, practices, or matters as it may deem necessary or proper to aid in the enforce- ment of the provisions of this subsection (p), in the prescribing of rules and regulations thereunder, or in securing information to serve as a basis for recommending further legislation concerning the mat- ters to whi ch this subse ction relates. Any person who willfully violates any provision of this subsec- tion, or any rule or regulation made thereunder the violation of which is made unlawful, or any person who willfully and knowingly makes, or causes to be made, any statement in any application, report, or document required to be filed hereunder or under any rule or regulation authorized hereby, which statement is false or misleadin g with r espect t o any ma terial f act, sha ll be g uilty of a misdemeanor, and on conviction in any United States court having jurisdiction, shall be punished by a fine of not less than $1,000 nor mo re than $10,000 or by imprisonment for not less than one year nor more than three years, or by both such fine and imprisonment, in the discretion of the court ; but no person shall be subject to imprisonment under this section for the violation of any rule or regulation if he proves that he had no knowledge of such rule or regulation. Th e provis ions of this sub section (p) shal l not be applica ble to any per son or c ommittee which h as begun to soli cit, obt ain, or use proxies, authorizations, or deposit agreements prior to the effective date of this amendatory section in connection with proceedings under this section as in force prior to such effective date or receiv- ership proceedings against a railroad then pending in any State or Federal court, unless such person or committee makes applica- tion to the Commission and receives authority to act as in this sub- section provide d, in wh ich even t the pr ovisions of this subsect ion (p) shall be applicable to such person or committee, but such author- ization shall not be upon terms which shall invalidate any action theretofore taken, or any rights or obligations which have thereto- fore arisen : Provided, Th at with respect to committees which are not subject to this subsection (p) the judge shall scrutinize and may disregard any limitations or provisions of any deposit agree- ments, committee, or other authorizations affecting any creditor or stockholder acting under this section and may enforce an accounting thereun der or r estrain the exer cise of any jowe r which he finds to be unfair or not consistent with public policy, including the collec- tion of unreasonable amounts for compensation and expenses. (q) The provisions of section 12 of the Interstate Commerce Act, as am ended March 2, 18 89, Fe bruary 10, 1891, and Fe bruar y 28, 1920, shall be applicable to enable the Commission to perform its duties under th is secti on and t he provi sions of such se ction sh all apply to the debtor, any subsidiary or affiliated company, or any other person as herein defined. 925 Inves tiga ting viola. tions. Publication of. Rul es to be pre- scr ibed. Punishment for vio- lations. Provisi ons not retro- active. Terms not to inval- idate previo us acti on. Prov iso. Court review. Powers of Com mis- sion extended. Vol. 25, p. 858; Vol. 26,p.743; Vol. 41, p. 484 . U.S.C.,p.2221.