Page:United States Statutes at Large Volume 84 Part 1.djvu/1182

 1124

PUBLIC LAW 91-508-OCT. 26, 1970

[84 STAT.

(4) One or more designated or described vehicles. Any application for a search warrant pursuant to this section shall be accompanied by allegations of fact supporting the application. (b) This section is not in derogation of the authority of the Secretary under any other law. Chapter 4.—FOREIGN TRANSACTIONS Sec.

241. Records and reports required. 242. Classifications and requirements.

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§241. Records and reports required

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(a) The Secretary of the Treasury, having due regard for the need to avoid impeding or controlling the export or import of currency or other monetary instruments and having due regard also for the need to avoid burdening unreasonably persons who legitimately engage in transactions with foreign financial agencies, shall by regulation require any resident or citizen of the United States, or person in the United States and doing business therein, who engages in any transaction or maintains any relationship, directly or indirectly, on behalf of himself or another, with a foreign financial agency to maintain records or to file reports, or both, setting forth such of the following information, in such form and in such detail, as the Secretary may require: (1) The identities and addresses of the parties to the transaction or relationship. (2) The legal capacities in which the parties to the transaction or relationship are acting, and the identities of the real parties in interest if one or more of the parties are not acting solely as principals. (3) A description of the transaction or relationship including the amounts of money, credit, or other property involved. ^j^^ ]^Q persou required to maintain records under this section shall be required to produce or otherwise disclose the contents of the records except in compliance with a subpena or summons duly authorized and issued or as may otherwise be required by law. §242. Classifications and requirements The Secretary may prescribe: (1) Any reasonable classification of persons subject to or exempt from any requirement imposed under section 241. (2) The foreign country or countries as to which any requirement imposed under section 241 applies or does not apply if, in the judgment of the Secretary, uniform applicability of any such requirement to all foreign countries is unnecessary or undesirable. (3) The magnitude of transactions subject to any requirement imposed under section 241. (4) Types of transactions subject to or exempt from^ any requirement imposed under section 241. (5) Such other matters as he may deem necessary to the application of this chapter. TITLE III—MARGIN REQUIREMENTS

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§ 301. Amendment of section 7 of the Securities Exchange Act of 1934 (a) Section 7 of the Securities Exchange Act of 1934 (15 U.S.C. "^^S) is amended by adding at the end thereof the following new 1

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subsection:

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