Page:United States Statutes at Large Volume 90 Part 1.djvu/138

 90 STAT. 8 8

PUBLIC LAW 9 4 - 2 1 0 — F E B. 5, 1976 to such trustee or person. On petition of the applicable trustee or person, the special court may order such additional distributions as it finds reasonable and appropriate, prior to the making of the findings referred to in paragraph s (1), (2), and (3) of such section 303(c).

45 USC 743.

"(g)

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STAY o r COURT PROCEEDINGS.-—The special court may stay or

enjoin any action or proceeding in any State court or in any court of the United States other than the Supreme Court if such action or proceeding is contrary to any provision of this Act, impairs the effective implementation of this Act, or interferes with the execution of any order of the special court pursuant to this Act.".

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FINANCE COMMITTEE

SEC. 603. (a) Section 201 of such Act (45 U.S.C. 711) is amended by redesignating subsections (i) and (j) thereof as subsections (j) and (k) thereof, respectively, and by inserting therein a new subsection " (i) " as follows: " (i) F I N A N C E COMMITTEE.—The Board of Directors of the Association shall have a Finance Committee which shall consist of the Chairman of such Board, the Secretary, and the Secretary of the Treasury (acting directly or, at any time, through their respective duly authorized representatives). The Finance Committee is authorized to exercise only such powders as are vested in it pursuant to any provision of this Act. The vesting of such powers in the Finance Committee shall not be deemed to relieve the Board of Directors of its authority to exercise any other powers of the Association, none of which may be delegated to the Finance Committee, or of its general authority to study, analyze, and make advisory findings with respect to any m a t t e r relevant to the role of the Association as an investor in securities of the Corporation. Notwithstanding any provision of State law, (1) the Finance Committee, without any requirement of review or approval by the Board of Directors of the Association, is authorized to establish, revise, and maintain its own rules and procedures, by majority vote of the members thereof, and (2) the Board of Directors of the Association shall not have power to take, and shall not take, any action affecting the membership of the Finance Committee or limiting the exercise by the Finance Committee of the powers vested in it pursuant to any provision of this Act.". (b)(1) Section 201(h) of such Act (45 U.S.C. 711 (h)) is amended by adding a t the end thereof the following new sentence: " The Secretary and the Chairman of the Commission may act in such capacity directly or a t any time through their duly authorized representatives.". (2) Section 201(d)(2) of such Act (45 U.S.C. 7 1 1 (d)(2)) is amended by striking "or" and inserting in lieu thereof the following: "acting directly or at any time through". (c) Section 102 of such Act (45 U.S.C. 702), as amended by this Act, is amended by redesignating paragraph (7) thereof as paragraph (8) thereof, and by inserting therein a new paragraph (7) as follows: " (7) 'Finance Committee'means the Finance Committee of the B o a r d of Directors of the Association established under section 201 (i) of this Act; ". OBLIGATIONS OF THE ASSOCIATION

SEC. 604. Section 210(b) of such Act (45 U.S.C. 720 (b)) is amended to read as follows:

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