Page:United States Statutes at Large Volume 76.djvu/85

 76 STAT. ]

PUBLIC LAW 87-420-MAR. 20, 1962

37

(c) Section 7(b) is further amended by adding at the end thereof the following new sentence: " I n the case of reports sworn to, but not certified, the Secretary, when he determines that it may be necessary to investigate the plan in accordance with section 9(d) of this Act, shall, prior to investigation by the Department of Labor, require certification of the report by an independent certified or licensed public accountant." SEC. 10. Subparagraph (B) of paragraph (1) of subsection (f) of section T of such Act is amended by striking out "summary" and by striking out "broken down by types, such as cash investments in governmental obligations, investments in nongovernmental bonds, and investments in corporate stocks" and inserting in lieu thereof the following: "as required by section 7(b) ". SEC. 11. Subparagraph (C) of paragraph (1) of subsection (f) of section 7 of such Act is amended by striking out "total fund" and inserting "total funds", by striking out "by reason of being an officer, trustee, or employee of such fund", and by striking out "listed at their aggregate cost or present value, whichever is lower" and inserting in lieu thereof "valued as provided in subparagraph (B) ". SEC. 12. Subparagraph {!)) of paragraph (1) of subsection (f) of section 7 of such Act is amended by striking out the words "by reason 29 USC 306. of being an officer, trustee, or employee of such fund". SEC. 13. Section 7 of such Act is amended by adding thereto the following new subsections (g) and (h): " (g) If some or all of the benefits under the plan are provided by an insurance carrier or service or other organization, such carrier or organization shall certify to the administrator of such plan, within one hundred and twenty days after the end of each calendar, policy, or other fiscal year, as the case may be, such reasonable information determined by the Secretary to be necessary to enable such administrator to comply with the requirements of this Act. " (h) The Secretary shall prescribe by general rule simplified reports simp uf i e d refor plans which he finds that by virtue of their size or otherwise a '"''*'• detailed report would be unduly burdensome, but the Secretary may revoke such provisions for simplified forms for any plan if the purposes of the Act would be served thereby." SEC. 14. Section 8(a)(2) of such Act is amended by striking out 29 USC 307. "a summary" and inserting in lieu thereof "an adequate summary". SEC. 15. (a) Section 9(a) of such Act is amended by striking out "of 29 USC 308. sections 5 or 8", and inserting before the period the words ", or both". Enforcement. (b) Section 9 of such Act is amended by striking out subsections (d) and (e) and inserting in lieu thereof the following new subsections: " (d) The Secretary may, after first requiring certification in accordance with section 7(b), upon complaint of violation not satisfied by such certification, or on his own motion, when he continues to have reasonable cause to believe investigation may disclose violations of this Act, make such investigations as he deems necessary, and may require or permit any person to file with him a statement in writing, under oath or otherwise, as to all the facts and circumstances concerning the matter to be investigated. "(e) For the purposes of any investigation provided for in this Act, the provisions of sections 9 and 10 (relating to the attendance of 29 USC aos, 309. witnesses and the production of books, records, and documents) of the Federal Trade Commission Act of September 16, 1914, as amended (15 U.S.C. 49, 50), are hereby made applicable to the jurisdiction, 38 Stat. 7:17. powers, and duties of the Secretary or any officers designated by him.

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