CITE

    15 USC Sec. 80a-45                                          01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
    SUBCHAPTER I - INVESTMENT COMPANIES

HEAD

    Sec. 80a-45. Reports by Commission; hiring and leasing authority

STATUTE

    (a) Omitted
    (b) Hiring and leasing authority
      The provisions of section 78d(b) of this title shall be
    applicable with respect to the power of the Commission -
        (1) to appoint and fix the compensation of such employees as
      may be necessary for carrying out its functions under this
      subchapter, and
        (2) to lease and allocate such real property as may be
      necessary for carrying out its functions under this subchapter.

SOURCE

    (Aug. 22, 1940, ch. 686, title I, Sec. 46, 54 Stat. 845; Oct. 28,
    1949, ch. 782, title XI, Sec. 1106(a), 63 Stat. 972; Pub. L. 101-
    550, title I, Sec. 104(c), Nov. 15, 1990, 104 Stat. 2714.)

CODIFICATION

      Subsection (a), which required the Securities and Exchange
    Commission to submit an annual report to Congress on the work of
    the Commission, terminated, effective May 15, 2000, pursuant to
    section 3003 of Pub. L. 104-66, as amended, set out as a note under
    section 1113 of Title 31, Money and Finance. See, also, page 191 of
    House Document No. 103-7.

AMENDMENTS

      1990 - Subsec. (b). Pub. L. 101-550 amended subsec. (b)
    generally. Prior to amendment, subsec. (b) related to appointment
    and compensation of employees.
      1949 - Subsec. (b). Act Oct. 28, 1949, substituted
    "Classification Act of 1949" for "Classification Act of 1923".
                                  REPEALS
      Act Oct. 28, 1949, ch. 782, set out in the credit of this
    section, was repealed (subject to a savings clause) by Pub. L. 89-
    554, Sept. 6, 1966, Sec. 8, 80 Stat. 632, 655.

TRANSFER OF FUNCTIONS

      For transfer of functions of Securities and Exchange Commission,
    with certain exceptions, to Chairman of such Commission, see Reorg.
    Plan No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
    64 Stat. 1265, set out under section 78d of this title.
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