
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC689m]

 
                      TITLE 15--COMMERCE AND TRADE
 
             CHAPTER 14B--SMALL BUSINESS INVESTMENT PROGRAM
 
              SUBCHAPTER III--INVESTMENT DIVISION PROGRAMS
 
               Part B--New Markets Venture Capital Program
 
Sec. 689m. Additional penalties for noncompliance


(a) In general

    With respect to any New Markets Venture Capital company that 
violates or fails to comply with any of the provisions of this chapter, 
of any regulation issued under this chapter, or of any participation 
agreement entered into under this chapter, the Administrator may in 
accordance with this section--
        (1) void the participation agreement between the Administrator 
    and the company; and
        (2) cause the company to forfeit all of the rights and 
    privileges derived by the company from this chapter.

(b) Adjudication of noncompliance

                           (1) In general

        Before the Administrator may cause a New Markets Venture Capital 
    company to forfeit rights or privileges under subsection (a) of this 
    section, a court of the United States of competent jurisdiction must 
    find that the company committed a violation, or failed to comply, in 
    a cause of action brought for that purpose in the district, 
    territory, or other place subject to the jurisdiction of the United 
    States, in which the principal office of the company is located.

           (2) Parties authorized to file causes of action

        Each cause of action brought by the United States under this 
    subsection shall be brought by the Administrator or by the Attorney 
    General.

(Pub. L. 85-699, title III, Sec. 364, as added Pub. L. 106-554, 
Sec. 1(a)(8) [Sec. 1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A-663.)

                       References in Text

    For definition of ``this chapter'', referred to in subsec. (a), see 
References in Text note set out under section 661 of this title.
