Page:United States Statutes at Large Volume 53 Part 2.djvu/665

 53 STAT.] 76TH CONG., 1ST SESS.-CH. 393-JULY 28, 1939 "SEC. 738. The special court shall have power to determine the amount and legality of claims of the United States for taxes or customs duties, and to order payment thereof; and the order of the special court (provided for in section 714) approving the petition shall have the effect of an adjudication of bankruptcy of the peti- tioner for the purposes of section 274 of the Internal Revenue Code and the corresponding provisions of prior and subsequent revenue acts. The running of the statute of limitations on the assessment or collection of any internal-revenue tax shall be suspended while a pro- ceeding under this chapter is pending and until it is finally dismissed. "ARTICLE VII-INTERSTATE COMMERCE COMMISSION "SEC. 740. If, in any application filed with the Commission pur- suant to section 20a of the Interstate Commerce Act for authority to issue or modify securities, the applicant shall allege that the pur- pose in making such application is to enable it to file a petition under the provisions of this chapter, the Commission shall take final action on such application as promptly as possible, and in any event within one hundred and twenty days after the filing of such application, unless the Commission finds that a longer time, not exceeding sixty days is needed in the public interest. "ARTICLE VIII-FINAL DECREE AND REVIEW "SEC. 745. Any final order or decree of the special court may be reviewed by the Supreme Court of the United States upon applica- tion for certiorari made by any person affected by the plan who deems himself aggrieved within sixty days after the entry of such order or decree, pursuant to the provisions of the Federal Judicial Code. "SEC. 746. In the decree approving and confirming the plan the court may require such reports of the action taken by the petitioner thereunder in the execution of the plan as may be necessary to a final disposition of the cause, and in its final decree disposing of the cause the court shall retain jurisdiction in the district court to the extent necessary to protect and enforce the rights of the parties under said plan and the orders of the court thereon. "ARTICLE IX-FILING RECOIII) WITH COMMISSION "SEC. 750. The clerk of the court in which any proceedings under this chapter are pending, shall forthwith transmit to the Interstate Commerce Commission copies of all pleadings, petitions, motions, applications, orders, judgments, decrees and other papers in such proceedings filed with the court or entered therein, including copies of any transcripts of testimony, hearings or other proceedings that nmay he transcribed and filed in such proceedings together with copies of all exhibits, except to the extent that the court finds that com- pliance with this section would be impracticable. "ARTICLE X-TERMINATION OF JURISDICTION 1141 Taxes or customs duties, power of court to determine amount, etc. Approval to have the effect of adjudica- tion of bankruptcy. Ante, p. 86. I. R.C. §274. Application toissue, etc., securities in order to file petition, action by Commission. 41 Stat. 491. 49 U. S.C. §20a. Time limitation up- on applications for certiorari. Power of court to require reports of action taken by peti- tioner. (Copies (f rel-,ords to be filed with ('omlmis- sion. "SEC. 755. The jurisdiction conferred upon any court bv this Termination of ju- chapter shall not be exercised by such court after July 31, 1940, risdiction. except in respect of any proceeding initiated by filing a petition Ante, p . 1135. under section 710 hereof on or before July 31, 1940." Approved, July 28, 1939, 9:45 a. m., E. S . T.

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