Requires the Federal Reserve Board to report to specified congressional committees within two years of enactment of this Act on: 1 the implementation of the banking provisions; 2 legislative changes needed to facilitate the financing of U. Provides for returning all application documents if an application is denied. Directs the Secretary to request additional information from a certificate holder if the Secretary or the Attorney General has reason to believe that the export trade, export trade activities, or methods of operation of such person no longer comply with the certificate standards. The seventh paragraph of section 13 of the Federal Reserve At 12 U. .
Annual reports Every person to whom a certificate of review is issued shall submit to the Secretary an annual report, in such form and at such time as the Secretary may require, that updates where necessary the information required by section 4012 a of this title. Office of Export Trade in Department of Commerce The Secretary of Commerce shall establish within the Department of Commerce an office to promote and encourage to the greatest extent feasible the formation of export trade associations and export trading companies. Rules and regulations The Secretary, with the concurrence of the Attorney General, shall promulgate such rules and regulations as are necessary to carry out the purposes of this chapter. In furtherance of such purpose, the Congress intends that, in implementing its authority under section 4 c 14 of the Bank Holding Company Act of 1956, the Board of Governors of the Federal Reserve System should pursue regulatory policies that-- 1 provide for the establishment of export trading companies with powers sufficiently broad to enable them to compete with similar foreign-owned institutions in the United States and abroad; 2 afford to United States commerce, industry, and agriculture, especially small-and medium-size firms, a means of exporting at all times; 3 foster the participation by regional and smaller banks in the development of export trading companies; and 4 facilitate the formation of joint venture export trading companies between bank holding companies and nonbank firms that provide for the efficient combination of complementary trade and financing services designed to create export trading companies that can handle all of an exporting company's needs. Young Americans have historically been the least involved in politics, despite the huge consequences policies can have on them. Such report shall be submitted to the Congress not later than 90 days after such acquisition. References in Text This chapter, referred to in subsecs.
Prohibits the total amount of extensions of credit to an export trading company by a bank holding company which invests in an export trading company, when combined with all such extensions of credit by all the subsidiaries of such holding company, from exceeding ten percent of the holding company's consolidated capital and surplus. The notice shall include a statement of the circumstances underlying, and the reasons in support of, the determination. Exempts the guidelines from certain requirements of the Administrative Procedures Act. Effective Date of 2006 Amendment Amendment by effective Mar. General Accounting Office 1986, February.
Limits the aggregate acceptances growing out of domestic transactions to not more than 50 percent of the aggregate of all acceptances. Issuance of certificate a Requirements A certificate of review shall be issued to any applicant that establishes that its specified export trade, export trade activities, and methods of operation will - 1 result in neither a substantial lessening of competition or restraint of trade within the United States nor a substantial restraint of the export trade of any competitor of the applicant, 2 not unreasonably enhance, stabilize, or depress prices within the United States of the goods, wares, merchandise, or services of the class exported by the applicant, 3 not constitute unfair methods of competition against competitors engaged in the export of goods, wares, merchandise, or services of the class exported by the applicant, and 4 not include any act that may reasonably be expected to result in the sale for consumption or resale within the United States of the goods, wares, merchandise, or services exported by the applicant. Essentially, this paper argues that the primary responsibility for failing to penetrate foreign markets more effectively lies with the small to medium-sized business sector of the economy and the export trading companies. The Secretary, with the concurrence of the Attorney General, shall notify the applicant of the determination upon reconsideration within thirty days of receipt of the request. Increases such limitation from one-half to 150 percent of the capital stock or, with the Federal Reserve Board's permission, twice the amount of the capital stock. Authorization of appropriations There are authorized to be appropriated to the Department of Commerce to carry out export promotion programs such sums as are necessary for fiscal years 1995 and 1996. We love educating Americans about how their government works too! Reporting requirement; amendment of certificate; revocation a Report of changes in matters specified; application to amend; treatment as application for issuance 1 Any applicant who receives a certificate of review - A shall promptly report to the Secretary any change relevant to the matters specified in the certificate, and B may submit to the Secretary an application to amend the certificate to reflect the effect of the change on the conduct specified in the certificate.
If this subsection applies to such methods of competition only because of the operation of subparagraph A ii , this subsection shall apply to such conduct only for injury to export business in the United States. January 31, 2019 Export Trading Company Act of 1982, Pub. Amends the Bank Holding Company Act of 1956 to permit bank holding companies to invest in shares of any export trading company whose acquisition or formation by a bank holding company has not been disapproved by the Federal Reserve Board. Legislation not enacted by the end of a Congress is cleared from the books. The Secretary of Commerce shall establish within the Department of Commerce an office to promote and encourage to the greatest extent feasible the formation of export trade associations and export trading companies. Theis authorized upon application by ato extend, from time to time for not more than one year at a time, the two-year period referred to herein for disposing of any shares acquired by ain the regular course of securing or collecting a debt previously contracted in good faith, if, in thes judgment, such an extension would not be detrimental to the public interest, but no such extension shall in the aggregate exceed three years.
Sections and of this title, referred to in subsec. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. See 1996 Amendment note below. Permits an expedited application procedure. Permits the Federal Reserve Board to require a bank holding company which invests in an export trading company to terminate its investment or be made subject to limitations or conditions, whenever the export trading company takes unnecessary positions in commodities or commodities contracts, in securities, or in foreign exchange. In addition, the President shall ensure that any such barter is consistent with the international obligations of the United States, including the General Agreement on Tariffs and Trade. States that such limitations do not apply to any acceptance which is issued by an institution and which is covered by a participation agreement from other banks or regulated corporations, except to the extent that the issuing bank retains or purchases such acceptance.
The effective date of an amendment shall be the date on which the application for the amendment is submitted to the Secretary. You are encouraged to reuse any material on this site. This is a project of. Protection conferred by certificate of review a Protection from civil or criminal antitrust actions Except as provided in subsection b of this section, no criminal or civil action may be brought under the antitrust laws against a person to whom a certificate of review is issued which is based on conduct which is specified in, and complies with the terms of, a certificate issued under section 4013 of this title which certificate was in effect when the conduct occurred. Judicial review; admissibility a District court review of grants or denials; erroneous determination If the Secretary grants or denies, in whole or in part, an application for a certificate of review or for an amendment to a certificate, or revokes or modifies a certificate pursuant to Section 4014 b of this title, any person aggrieved by such determination may, within 30 days of the determination, bring an action in any appropriate district court of the United States to set aside the determination on the ground that such determination is erroneous. Authorizes such an applicant to submit an application to amend the certificate.
A is available from Adobe Systems Incorporated. Export trade promotion duties of Secretary of Commerce To promote and encourage export trade, the Secretary may issue certificates of review and advise and assist any person with respect to applying for certificates of review. This article discusses the antitrust aspects of the Act, including its legislative history and prior case law. Join 10 million other Americans using GovTrack to learn about and contact your representative and senators and track what Congress is doing each day. The Insurance Act, referred to in subsecs.