
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC687g]

 
                      TITLE 15--COMMERCE AND TRADE
 
             CHAPTER 14B--SMALL BUSINESS INVESTMENT PROGRAM
 
              SUBCHAPTER III--INVESTMENT DIVISION PROGRAMS
 
               Part A--Small Business Investment Companies
 
Sec. 687g. Penalties and forfeitures


(a) Report violations

    Except as provided in subsection (b) of this section, a licensee 
which violates any regulation or written directive issued by the 
Administrator, requiring the filing of any regular or special report 
pursuant to section 687b(b) of this title, shall forfeit and pay to the 
United States a civil penalty of not more than $100 for each and every 
day of the continuance of the licensee's failure to file such report, 
unless it is shown that such failure is due to reasonable cause and not 
due to willful neglect. The civil penalties provided for in this section 
shall accrue to the United States and may be recovered in a civil action 
brought by the Administration.

(b) Exemption from reporting requirements

    The Administration may by rules and regulations, or upon application 
of an interested party, at any time previous to such failure, by order, 
after notice and opportunity for hearing, exempt in whole or in part, 
any small business investment company from the provisions of subsection 
(a) of this section, upon such terms and conditions and for such period 
of time as it deems necessary and appropriate, if the Administration 
finds that such action is not inconsistent with the public interest or 
the protection of the Administration. The Administration may for the 
purposes of this section make any alternative requirements appropriate 
to the situation.

(Pub. L. 85-699, title III, Sec. 315, as added Pub. L. 89-779, Sec. 7, 
Nov. 6, 1966, 80 Stat. 1364.)

                  Section Referred to in Other Sections

    This section is referred to in section 687h of this title.
