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15 USC CHAPTER 2E - OMNIBUS SMALL BUSINESS CAPITAL

FORMATION 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 2E - OMNIBUS SMALL BUSINESS CAPITAL FORMATION

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CHAPTER 2E - OMNIBUS SMALL BUSINESS CAPITAL FORMATION

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Sec.

80c. Liaison between Securities Exchange Commission and Small

Business Administration.

(a) Studies on needs, problems, and costs of

businesses; availability.

(b) Availability of studies to Small Business

Administration.

80c-1. Annual government-business forum on capital formation.

(a) Responsibility of Securities Exchange Commission.

(b) Participation in forum planning.

(c) Preparation of statements and reports.

(d) Transmittal of proceedings and findings.

80c-2. Authorization of appropriations.

80c-3. Reduction of costs of small securities issues.

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15 USC Sec. 80c 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 2E - OMNIBUS SMALL BUSINESS CAPITAL FORMATION

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Sec. 80c. Liaison between Securities Exchange Commission and Small

Business Administration

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(a) Studies on needs, problems, and costs of businesses;

availability

The Securities and Exchange Commission shall gather, analyze, and

make available to the public, information with respect to the

capital formation needs, and the problems and costs involved with

new, small, medium-sized, and independent businesses.

(b) Availability of studies to Small Business Administration

The Commission shall make the results of such studies available

to the Small Business Administration and otherwise have regular

communication and liaison with such Administration in these

matters.

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(Pub. L. 96-477, title V, Sec. 502, Oct. 21, 1980, 94 Stat. 2292.)

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EFFECTIVE DATE

Section 507 of title V of Pub. L. 96-477 provided that: ''Except

as otherwise specified, the amendments made by this title (enacting

this chapter and amending section 77s of this title) shall become

effective January 1 of the year following the date of enactment of

this Act (Oct. 21, 1980).''

SHORT TITLE

Section 501 of title V of Pub. L. 96-477 provided that: ''This

title (enacting this chapter and amending section 77s of this

title) may be cited as the 'Omnibus Small Business Capital

Formation Act of 1980'.''

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SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 80c-1 of this title.

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15 USC Sec. 80c-1 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 2E - OMNIBUS SMALL BUSINESS CAPITAL FORMATION

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Sec. 80c-1. Annual government-business forum on capital formation

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(a) Responsibility of Securities Exchange Commission

Pursuant to the consultation called for in section 80c of this

title, the Securities and Exchange Commission shall conduct an

annual Government-business forum to review the current status of

problems and programs relating to small business capital formation.

(b) Participation in forum planning

The Commission shall invite other Federal agencies, such as the

Department of the Treasury, the Board of Governors of the Federal

Reserve System, the Small Business Administration, organizations

representing State securities commissioners, and leading small

business and professional organizations concerned with capital

formation, to participate in the planning for such forums.

(c) Preparation of statements and reports

The Commission may request any of the Federal departments,

agencies, or organizations such as those specified in subsection

(b) of this section, or other groups or individuals, to prepare

statements and reports to be delivered at such forums. Such

departments and agencies shall cooperate in this effort.

(d) Transmittal of proceedings and findings

A summary of the proceedings of such forums and any findings or

recommendations thereof shall be prepared and transmitted to the

participants, appropriate committees of the Congress, and others

who may be interested in the subject matter.

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(Pub. L. 96-477, title V, Sec. 503, Oct. 21, 1980, 94 Stat. 2292.)

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TERMINATION OF REPORTING REQUIREMENTS

For termination, effective May 15, 2000, of provisions of law

requiring submittal to Congress of any annual, semiannual, or other

regular periodic report listed in House Document No. 103-7 (in

which a report required under subsection (d) of this section is

listed on page 190), see section 3003 of Pub. L. 104-66, as

amended, set out as a note under section 1113 of Title 31, Money

and Finance.

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SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 77s, 80c-3 of this title.

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15 USC Sec. 80c-2 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 2E - OMNIBUS SMALL BUSINESS CAPITAL FORMATION

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Sec. 80c-2. Authorization of appropriations

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For fiscal year 1982, and for each of the three succeeding fiscal

years, there are hereby authorized to be appropriated such amounts

as may be necessary and appropriate to carry out the provisions and

purposes of this chapter. Any sums so appropriated shall remain

available until expended.

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(Pub. L. 96-477, title V, Sec. 504, Oct. 21, 1980, 94 Stat. 2292.)

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15 USC Sec. 80c-3 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 2E - OMNIBUS SMALL BUSINESS CAPITAL FORMATION

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Sec. 80c-3. Reduction of costs of small securities issues

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(a) The Securities and Exchange Commission shall use its best

efforts to identify and reduce the costs of raising capital in

connection with the issuance of securities by firms whose aggregate

outstanding securities and other indebtedness have a market value

of $25,000,000 or less, through such means as studies, giving

appropriate publicity to improved technology developments in fields

such as printing, communications, and filing, and giving special

attention to the effect of existing and proposed regulatory changes

upon the small companies wishing to raise capital and independent

broker-dealers which are in a key position with respect to the

costs of underwriting and making markets in the securities of

smaller companies.

(b) The Commission shall report on these efforts at the annual

Government-business forum required by section 80c-1 of this title.

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(Pub. L. 96-477, title V, Sec. 506, Oct. 21, 1980, 94 Stat. 2293.)

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