Page:United States Statutes at Large Volume 80 Part 1.djvu/1400

 1364

PUBLIC LAW 89-779-NOV. 6, 1966

[80 STAT.

" P E X A I. T I E S A N D FORFEITURES

Ante. p. 1360,

"SEC. 315. (a) Except as provided in subsection (b) of this section, a licensee which violates any regulation or written directive issued by the Administrator, requiring the filing of any regular or special report pursuant to section 310(b) of this Act, shall forfeit and pay to the United States a civil penalty of not more than $100 for each and every day of the continuance of the licensee's failure to file such report, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The civil penalties provided for in this section shall accrue to the United States and may be recovered in a civil action brought by the Administration. " (b) The Administration may by rules and regulations, or upon application of an interested party, at any time previous to such failure, by order, after notice and opportunity for hearing, exempt in whole or in part, any small business investment company from the provisions of subsection (a) of this section, upon such terms and conditions and for such period of time as it deems necessary and appropriate, if the Administration finds that such action is not inconsistent with the public interest or the protection of the Administration. The Administration may for the purposes of this section make any alternative requirements appropriate to the situation. "JURISDICTION AND SERVICE OF PROCESS

7 2 Stat. 694; 15 USC 687, 687a, 687c.^^

Ante, p. 1361.

SB A Administra^ tors

7°2 Stat. 384. ' 15 USC 633.

Ante, p. 1359.

"SEC. 316. Any suit or action brought under section 308, 309, 311, 313 or 315 by the Administration at law or in equity to enforce any liability or duty created by, or to enjoin any violation of, this Act, or any rule, regulation, or order promulgated thereunder, shall be brought in the district wherein the licensee maintains its principal office, and process in such cases may be served in any district in which the defendant maintains its principal office or transacts business, or wherever the defendant may be found." SEC. 8. (a) Section 4(b) of the Small Business Act is amended by Striking out "three Deputy Administrators" and inserting in lieu thereof "a Deputy Administrator and three Associate Administrators (including the Associate Administrator specified in section 201 of t^^ gj^all Busiuess Investment Act of 1958)". (b) Such section is further amended by adding at the end thereof the following: "The Deputy Administrator shall be Acting Administrator of the Administration during the absence or disability of the Administrator or in the event of a vacancy in the office of the A ClTTllTllSl"T*flf"OT*

Ante, p. 461.

{c) {1) Section 5315 of title 5 of the United States Code is amended by adding at the end thereof the following: "(78) Deputy Administrator of the Small Business Administration." (2) Section 5316(11) of such title is amended by changing "Deputy Administrators of the Small Business Administration (4) " to read "Associate Administrators of the Small Business Administration (3) ". SEC. 9. (a) The table of contents of the Small Business Investment Act of 1958 is amended— (1) by striking out the items describing the contents of sections 309 and 310 and inserting in lieu thereof the following: "Sec. 309. Revocation and suspension of licenses; cease and desist orders. "Sec. 310. Examinations and investigations.";

and

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