PUBLIC LAWS-CH. 456-JUNE 16, 1938 Subcommittees. SEC. 3. (a) The committee shall have power to appoint subcom- AUowanoes to mem- mittees to assist the committee in its work. The members of the com- mittee shall serve without additional compensation but shall be reim- bursed for travel, subsistence, and other necessary expenses incurred by them in the exercise of the functions vested in the committee. Presentation ofevi- (b) The Department of Justice, Department of the Treasury, deuce by certain exec- utive agencies. Department of Labor, Department of Commerce, the Securities and Exchange Commission, and the Federal Trade Commission are directed to appear before the committee or its designee and present evidence by examination of witnesses or the introduction of docu- Subject matter. ments and reports. The evidence presented by each of these agencies shall cover the subject matter of this inquiry which is within its administrative jurisdiction under existing law or which may be Issuance of sub- assigned to such agencies by the committee. Each such agency is poe authorized to request the committee to issue such subpoenas as such agency may require for the attendance of witnesses and the produc- tion of documents and reports. Personalservces. (c) The committee shall have power to employ and fix the com- pensation of such officers, experts, and employees as it deems necessary for the performance of its duties. The committee is authorized to utilize the services, information, facilities, and personnel of the departments and agencies of the Government. frinm adrrPotSm SEC. 4 . (a) Prior to the opening of the first session of the Seventy- mendations. sixth Congress or as soon thereafter as is practicable the committee shall transmit to the President and to the Congress preliminary reports of the studies and investigations carried on by it, and by the departments and agencies represented thereon, together with the findings and recommendations of the committee, and shall submit to the President and to the Congress as soon as practicable thereafter, report, etc during or prior to the termination of the Seventy-sixth Congress, further and final reports of the studies and investigations carried out pursuant to this resolution, together with the findings and rec- ommendations of the committee. Quorum. (b) A majority of the committee shall constitute a quorum, and the powers conferred upon them by this joint resolution may be exercised by a majority vote. Teriation of an- (c) All authority conferred by this joint resolution shall terminate upon the expiration of the Seventy-sixth Congress. Poer and rght SEC. 5 . For the purpose of this joint resolution the committee, or any sub-committee designated by it, shall be entitled to exercise the same powers and rights as are conferred upon the Securities and Exchange Commission by subsection (c) of section 18 of the Act of 15 U.S . O:, Snpp. AugSt 26, 1935 (49 Stat. 831); and the provisions of subsections (d) m, i79r. and (e) of such section shall be applicable to all persons summoned by subpoena or otherwise to attend and testify or to produce books, papers, correspondence, memoranda, contracts, agreements, or other records and documents before the committee. tpopration a- SEC. 6. (a) There is hereby authorized to be appropriated, out of Pes. P. i any money in the Treasury not otherwise appropriated, the sum of $500,000, or so much thereof as may be necessary, to carry out the Amount mmediate provisions of this joint resolution. ly available. (b) Of the funds authorized to be appropriated under subsection (a), not to exceed $100,000 shall be immediately available for expend- t did iture by the committee in carrying out its functions and not to exceed sion among deport- $400,000 shall be available, as the President shall direct, among the ments and agencies departments and agencies represented on the committee to enable them to carry out their functions under this joint resolution. Approved, June 16, 1938. 706 [52 STAT.
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