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22 U.S.C. § 286k–2Suspension of right of International Bank to issue securities under section 286k–1; report of Securities and Exchange Commission

submitted 77 years ago by ch. 276 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 113 words · no verdicts yet

in plain englishAI-generated · not legal advice

The SEC, working with the National Advisory Council, can suspend the World Bank's exempt-securities status for any or all of its securities at any time. The SEC must include information about how this suspension power is used in its annual reports to Congress, along with any views submitted by registered securities dealer associations.

The Securities and Exchange Commission, acting together with the National Advisory Council on International Monetary and Financial Problems, is authorized to suspend the exempt-securities status given under section 286k–1(a) of this title. It can do this at any time, for any or all securities the World Bank issues or guarantees during the suspension period. The Commission must include, in its annual reports to Congress, information it thinks is useful about how this section — and section 286k–1 and 12 U.S.C. § 24 — are operating and what effect they are having. The Commission must also include, in connection with this, any views submitted for this purpose by any association of dealers registered with the Commission.
the actual law source: uscode.house.gov ↗public domain

The Securities and Exchange Commission acting in consultation with the National Advisory Council on International Monetary and Financial Problems is authorized to suspend the provisions of section 286k–1 (a) of this title at any time as to any or all securities issued or guaranteed by the bank during the period of such suspension. The Commission shall include in its annual reports to Congress such information as it shall deem advisable with regard to the operations and effect of this section, and section 286k–1 of this title and section 24 of title 12 and in connection therewith shall include any views submitted for such purpose by any association of dealers registered with the Commission.

Source credit: (June 29, 1949, ch. 276, § 3, 63 Stat. 299.)

history & why it existsrecord from the source credit
  • 1949Enacted · Act of June 29, 1949, ch. 276 · 63 Stat. 299

A history note hasn’t been published yet. The record shows enactment by ch. 276 on 1949-06-29.

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