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PUBLIC LAW 87-592-AUG. 20, 1962

[76 STAT.

"(1) he had not previously been rehabilitated (that is, ren-; dered employable) as the result of training furnished under this chapter, or "(2) his blindness either has worsened, or has developed as a result of the worsening of his service-connected disability, since he was declared rehabilitated to the extent that it precludes his performing the duties of the occupation for which he was previously trained under this chapter." SEC, 2. The table of sections at the head of chapter 31 of title 38, United States Code, is amended by adding immediately below item 1502 thereof the following: "1502A. Blinded veterans."

Approved August 16, 1962.

Public Law 87-592 August 20, 1962 [s. 2135]

Securities and Exchange Commission. Delegation of functions.

5 USC 1006.

60 Stat. 237. 5 USC 1001 note. 48 Stat. 898. 15 USC 78s. Right of review.

54 Stat. 857; 48 Stat. 79. 15 USC 77h. 48 Stat. 892. 15 USC 78/. 15 USC 780.

15 USC 78s.

AN ACT To authorize the Securities and Exchange Commission to delegate certain functions.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) in addition to its existing authority, the Securities and Exchange Commission, hereinafter referred to as the "Commission", shall have the authority to delegate, by published order or rule, any of its functions to a division of the Commission, an individual Commissioner, a hearing examiner, or an employee or employee board, including functions with respect to hearing, determining, ordering, certifying, reporting, or otherwise acting as to any work, business, or matter: Provided, howe^ver^ That nothing herein contained shall be deemed to supersede the provisions of section 7(a) of the Administrative Procedure Act of 1946 (60 Stat. 241), as amended: And provided further, That nothing herein contained shall be deemed to authorize the delegation of the function of rulemaking as defined in the Administrative Procedure Act of 1946, as amended, with reference to general rules as distinguished from rules of particular applicability, or of the making of any rule, regulation, or order pursuant to section 19(b) of the Securities Exchange Act of 1934. (b) With respect to the delegation of any of its functions, as provided in subsection (a) of this section, the Commission shall retain a discretionary right to review the action of any such division of the Commission, individual Commissioner, hearing examiner, employee, or employee board, upon its own initiative or upon petition of a party to or an intervenor in such action, within such time and in such manner as the Commission shall by rule prescribe: Provided, however, That the vote of one member of the Commission shall be sufficient to bring any such action before the Commission for review: And pro-! vided further. That in the event action at a delegated level (1) denies '• any request for action pursuant to section 8(a) or section 8(c) of the Securities Act of 1933 or the first sentence of section 12(d) of the Secu-, rities Exchange Act of 1934; (2) suspends, denies, or revokes a' broker-dealer registration pursuant to section 15(b) of the Securities Exchange Act of 1934; (3) suspends, denies, or withdraws any registration or suspends or expels a member of a national securities ex-: change pursuant to section 19(a) of the Securities Exchange Act of 1934; or (4) suspends trading on an exchange pursuant to section 19(a) of the Securities Exchange Act of 1934, a person or party adversely affected by such action shall be entitled to review by the Commission. ^

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