788
PUBLIC LAW 870-,AUG. 1, 1966
[70 S T A T.
Board may by regulations prescribe, file with the Board, on or before the first day of the fifth calendar month following the close of his fiscal year, a financial statement setting forth such information as the Board may by regulations prescribe as necessary to carry out this title. The preceding sentence shall not apply to any such person with respect to a fiscal year if the aggregate of the amounts received or accrued under such contracts and subcontracts during such fiscal year by him, and all persons under control of or controlling or under common control with him, is not more than the applicable amount prescribed in subsection (f)(1) or (2) of this section; but any person to whom this sentence applies may, if he so elects, file with the Board for such fiscal year a financial statement setting forth such information as the Board may by regulations prescribe as necessary to carry out this title. The Board may require any person who holds contracts or subcontracts to which the provisions of this title are applicable (whether or not such person has filed a financial statement under this paragraph) to furnish any information, records, or data which are determined by the Board to be necessary to carry out this title and which the Board specifically requests such person to furnish. Such information, records, or data may not be re(]^uired with respect to any fiscal year after the date on which all liabilities of such person for excessive profits received or accrued during such Penalty. fiscal year are discharged. Any person who willfully fails or refuses to furnish any statement, information, records, or data required of him under this subsection, or who knowingly furnishes any statement, information, records, or data pursuant to this subsection containing information which is false or misleading in any material respect, shall, upon conviction thereof, be punished by a fine of not more than $10,000 or imprisonment for not more than one year, or both." (b) The first sentence of section 105(c) of such Act (50 U.S.C. 65 Stat. 15. App., sec. 1215 (c)) is amended to read as follows: "In the absence of fraud or malfeasance or willful misrepresentation of a material fact, no proceeding to determine the amount of excessive profits for any fiscal year shall be commenced more than one year after a financial statement under subsection (e)(1) of this section is filed with the Board with respect to such year, and, in the absence of fraud or malfeasance or willful misrepresentation of a material fact, if such proceeding is not commenced prior to the expiration of one year following the date upon which such statement is so filed, all liabilities of the contractor or subcontractor for excessive profits received or accrued during such fiscal year shall thereupon be discharged." (c) The second sentence of section 105(c) of such Act (50 U.S.C. 65 Stat. 15. App., sec. 1215 (c)) is amended by striking out "then upon the expiration" and inserting in lieu thereof "then, in the absence of fraud or malfeasance or willful misrepresentation of a material fact, upon the expiration". (d) The amendments made by subsections (a), (b), and (c) shall apply only with respect to fiscal years (as defined in section 103(h) so u s e app. ^jf g^^jj^ ^^jt) ending after June 30, 1956. SEC. 6. (a) Section 105(f)(1) of such Act (50 U.S.C. App., staf. Vni: ^^ ^* sec. 1215 (f)(1)) is amended by inserting after "after June 30, 1953" wherever appearing therein the following: ", or $1,000,000, in the case of a fiscal year ending after June 30, 1956". (b) Section 105(f)(3) of such Act (50 U.S.C. App., sec. 1215 sta? fife* ^^' ® (f) (^)) is amended as follows:
(1) by inserting in the second sentence thereof, after "the $500,000 amount," the following: "the $1,000,000 amount,"; and
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