Page:United States Statutes at Large Volume 52.djvu/1281

 PUBLIC LAWS-CH. 811 -JUNE 29, 1938 49 Stat. 556. 49 U. S. C., Supp. III, § 313 (b) (2). Investigation and order of Commission. 49 Stat. 557. 49 U. S. C., Supp. III, § 314. Issuance of securi- ties. 41 Stat. 494. 49U. S. C. §20a. Provisos. Restriction on ap- plication of provi- sions. Securities having no par value. Exempted securi- ties. 48 Stat. 76. 15U.S.C.§77c; Supp. III, § 77c. 49U.S.C. 20a. 49 Stat. 560. 49 U. S. C., Supp. II, § 316 (g). New rates, etc.; in- itial schedules filed on or before July 31, 1938. 49 Stat. 562 . 49 U. S. C., Supp. III, § 318 (c). Reduced rates, etc.; initial schedule filed on or before July 31, 1938. 49 Stat. 566 . 49 U. S. C., Supp. Im,§ 324. Display of identi- fication plates, regu- lations. SEC. 14. Section 213 (b) (2) of said Act is hereby amended to read as follows: "(2) In addition to the enforcement procedure provided elsewhere in this part, the Commission is hereby authorized, upon complaint or upon its own initiative without complaint, but after notice and hearing, to investigate and determine whether any person is violating the provisions of paragraph (b) (1) of this section. If the Commis- sion finds after such investigation that such person is violating the provisions of such paragraph, it shall by order require such person to take such action consistent with the provisions of this part as may be necessary, in the opinion of the Commission, to prevent further violation of such provisions." SEC. 15. Section 214 of said Act is hereby amended to read as follows: "SEC. 214. Common or contract carriers by motor vehicle, corpo- rations organized for the purpose of engaging in transportation as such carriers, and corporations authorized by order entered under section 213 (a) (1) to acquire control of any such carrier, or of two or more such carriers, shall be subject to the provisions of paragraphs 2 to 11, inclusive, of section 20a of part I of this Act (including penalties applicable in cases of violations thereof): Provided, how- ever, That said provisions shall not apply to such carriers or corpo- rations where the par value of the securities to be issued, together with the par value of the securities then outstanding, does not exceed $500,000, nor to the issuance of notes of a maturity of two years or less and aggregating not more than $100,000, which notes aggregat- ing such amount including all outstanding obligations maturing in two years or less may be issued without reference to the percentage which said amounts bear to the total amount of outstanding securi- ties. In the case of securities having no par value, the par value for the purpose of this section shall be the fair market value as of the date of their issue: Provided further, That the exemption in section 3 (a) (6) of the 'Securities Act, 1933' is hereby amended to read as follows: '(6) Any security issued by a common or contract carrier the issuance of which is subject to the provisions of section 20a of the Interstate Commerce Act, as amended;'." SEC. 16. The proviso of section 216 (g) of said Act is hereby amended to read as follows: "Provided, That this paragraph shall not apply to any initial schedule or schedules filed on or before July 31, 1938, by any such carrier in bona fide operation when this section takes effect. At any hearing involving a rate, fare, charge, or classification, increased or sought to be increased, or involving a rule, regulation, or practice, after the date of the approval of this Act, the burden of proof shall be upon the carrier to show that the increased rate, fare, charge, or classification, or the rule, regulation, or practice, or the proposed increased rate, fare, charge, or classification, or the proposed rule, regulation, or practice, is Just and reasonable." SEC. 17. The proviso of section 218 (c) of said Act is hereby amended to read as follows: "Provided, That this paragraph shall not apply to any initial schedule or schedules, or contract or contracts, filed on or before July 31, 1938, by any such carrier in bona fide operation when this section takes effect." SEO. 18. Section 224 of said Act is hereby amended to read as follows: "SEC. 224 . The Commission is hereby authorized, under such rules and regulations as it shall prescribe, to require the display of suitable identification plate or plates, upon any motor vehicle used in trans- 1240 [52 STAT.

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