Page:United States Statutes at Large Volume 56 Part 1.djvu/208

 PUBLIC LAWS-CH. 199-MAR. 27, 1942 Venue. Service of process. Nonliability for damages. Exercise of power through departments, etc. Federal Reserve Art, amendment. 49 Stat. 706. 12U.S.. 355. Proviso. 48 Stat. 188 . 12 U.. C. § 263. Post, p. 647. the United States and the courts of the Philippine Islands shall have jurisdiction of violations of this subsection (a) or any rule, regula- tion, or order or subpena thereunder, whether heretofore or hereafter issued, and of all civil actions under this subsection (a) to enforce any liability or duty created by, or to enjoin any violation of, this subsection (a) or any rule, regulation, order, or subpena thereunder whether heretofore or hereafter issued. Any criminal proceeding on account of any such violation may be brought in any district in which any act, failure to act, or transaction constituting the violation oc- curred. Any such civil action may be brought in any such district or in the district in which the defendant resides or transacts business. Process in such cases, criminal or civil, may be served in any district wherein the defendant resides or transacts business or wherever the defendant may be found; and subpena for witnesses who are required to attend a court in any district in any such case may run into any other district. No costs shall be assessed against the United States in any proceeding under this subsection (a). "(7) No person shall be held liable for damages or penalties for any default under any contract or order which shall result directly or indirectly from compliance with this subsection (a) or any rule, regulation, or order issued thereunder, notwithstanding that any such rule, regulation, or order shall thereafter be declared by judicial or other competent authority to be invalid. "(8) The President may exercise any power, authority, or discre- tion conferred on him by this subsection (a), through such depart- ment, agency, or officer of the Government as he may direct and in conformity with any rules or regulations which he may prescribe." TITLE IV-PURCHASE BY FEDERAL RESERVE BANKS OF GOVERNMENT OBLIGATIONS SEC. 401. Subrcction (b) of section 14 of the Act of December 23, 1913 (38 St:'t. 265), otherwise known as the Federal Reserve Act, as amended, is hereby amended by striking out the proviso therein and inserting in lieu thereof the following: "Provided, That any bonds, notes, or other obligations which are direct obligations of the United States or which are fully guaranteed by the United States as to principal and interest may be bought and sold without regard to maturities either in the open market or directly from or to the United States; but all such purcnlases and sales shall be made in accordance with the provisions of section 12A of this Act and the aggregate amount of such obligations acquired directly from the United States which is held at any one time by the twelve Federal Reserve banks shall not exceed $5,000,000,000." TITLE V-WAIVER OF NAVIGATION AND INSPECTION LAWS SEC. 501. The head of each department or agency responsible for the administration of the navigation and vessel inspection laws is directed to waive compliance with such laws upon the request of the Secretary of the Navy or the Secretary of War to the extent deemed necessary in the conduct of the war by the officer making the request. The head of such department or agency is authorized to waive com- pliance with such laws to such extent and in such manner and upon such terms as he may prescribe either upon his own initiative or upon the written recommendation of the head of any other Govern- ment agency whenever he deems that such action is necessary in the conduct of the war. 180 [56 STAT.

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