Books of perBons controlling naturalgas companies subject to Commission examination. (c) The books, accounts, memoranda, and records of any person who controls directly or indirectly a natural-gas company subject to the jurisdiction of the Commission and of any other company controlled by such person, insofar as they relate to transactions with or the business of such natural-gas company, shall be subject to examination on the order of the Commission. [15 U. S. C. § 717g] Depreciation and amortization accounts to be in accordance with Commission rules. Commission may deter mine adequate rate of depreciation. Depreciation charges shall not be charged to operating RATES OF DEPRECIATION SEC. 9. (a) The Commission may, after hearing, require natural-gas companies to carry proper and adequate depreciation and amortization accounts in accordance with such rules, regulations, and forms of account as the Commission may prescribe. The Commission may from time to time ascertain and determine, and by order fix, the proper and adequate rates of depreciation and amortization of the several classes of property of each natural-gas company used or useful in the production, transportation, or sale of natural gas. Each natural-gas company shall conform its depreciation and amortization accounts to the rates so ascertained, determined, and fixed. No natural-gas company subject to the jurisdiction of the Commission shall charge to operating expenses any depreciation or amortization charges on classes of property other than those preexpenses unless scribed by the Commission, or charge with respect to any class of property a percentage of depreciation or amortization other than that prescribed therefor by the Commission. No such natural-gas company shall in any case include in any form under its operating or other expenses any depreciation, amortization, or other charge or expenditure included elsewhere as a depreciation or amortization charge or otherwise under its operating or other expenses. Nothing in this section shall limit the power of a State commission to determine in the exercise of its jurisdiction, with respect to any natural-gas company, the percentage rates of depreciation or amortization to be allowed, as to any class of property of such natural-gas company, or the composite depreciation or amortization rate, for the purpose of determining rates or charges. authorized. Jurisdiction of State commissions not limited by this section. (b) The Commission, before prescribing any rules or requirements as to accounts, records, or memoranda, or as to depreciation or amortization rates, shall notify each State commission having jurisdiction with respect to any natural-gas company involved and shall give reasonable oportunity to each such commission to present its views and shall receive and consider such views and recommendations. [15 U. S. C. § 717h] PERIODIO AND SPECIAL REPORTS companies prescribed by Commission. Contents of SEC. 10. (a) Every natural-gas company shall file with Natural gas the Commission such annual and other periodic or special reports as the Commission may by rules and required. regulations or order prescribe as necessary or appropriate to assist the Commission in the proper administration of this act. The Commission may prescribe the Torto manner and form in which such reports shall be made, and require from such natural-gas companies specific reports. answers to all questions upon which the Commission may need information. The Commission may require that such reports shall include, among other things, full information as to assets and liabilities, capitalization, investment and reduction thereof, gross receipts, interest due and paid, depreciation, amortization, and other reserves, cost of facilities, cost of maintenance and operation of facilities for the production, transportation, or sale of natural gas, cost of renewal and replacement of such facilities, transportation, delivery, use, and sale of natural gas. The Commission may require any such natural-gas company to make adequate provision for currently determining such costs and other facts. Such reports shall be made under oath unless the Commission Reports under otherwise specifies. (b) It shall be unlawful for any natural-gas company willfully to hinder, delay, or obstruct the making, filing, or keeping of any information, document, report, memorandum, record, or account required to be made, filed, or kept under this act or any rule, regulation, or order thereunder. [15 U. S. C. § 7171] Current de costs, etc. termination of oath. Willful hinmaking reunlawful. drance in ports, etc., Commission to assemble and to report to Congress STATE COMPACTS; REPORTS ON SEO. 11. (a) In case two or more States propose to the Congress compacts dealing with the conservation, pro information on duction, transportation, or distribution of natural gas it proposed compacts between States relating to conservation, etc., of natural gas. Commission to assemble current in formation relative to compacts between Btates. Information to be public. Reports and recommendations to be made to Congress. Records of other Government agencies to be available shall be the duty of the Commission to assemble pertinent information relative to the matters covered in any such proposed compact, to make public and to report to the Congress information so obtained, together with such recommendations for further legislation as may appear to be appropriate or necessary to carry out the purposes of such proposed compact and to aid in the conservation of natural-gas resources within the United States and in the orderly, equitable, and economic production, transportation, and distribution of natural gas. (b) It shall be the duty of the Commission to assemble and keep current pertinent information relative to the effect and operation of any compact between two or more States heretofore or hereafter approved by the Congress, to make such information public, and to report to the Congress, from time to time, the information so obtained together with such recommendations as may appear to be appropriate or necessary to promote the purposes of such compact. (c) In carrying out the purposes of this act, the Commission shall, so far as practicable, avail itself of the to Commission. services, records, reports, and information of the executive departments and other agencies of the Government, and the President may, from time to time, direct that such services and facilities be made available to the Commission. [15 U. S. C. § 717j] Unlawful for officers or directors to beneft from sale or issu ance of securities. Unlawful for ofcers or directors to pay dividends from capital account. OFFICIALS DEALING IN SECURITIES SEC. 12. It shall be unlawful for any officer or director of any natural-gas company to receive for his own benefit, directly or indirectly, any money or thing of value in respect to the negotiation, hypothecation, or sale by such natural-gas company of any security issued, or to be issued, by such natural-gas company, or to share in any of the proceeds thereof, or to participate in the making or paying of any dividends, other than liquidating dividends, of such natural-gas company from funds any properly included in capital account. 8 717k] COMPLAINTS [15 U. S. C. SEC. 13. Any State, municipality, or State commission complaining of anything done or omitted to be done by any natural-gas company in contravention of the provisions of this act may apply to the Commission by petition, which shall briefly state the facts, whereupon a statement of the complaint thus made shall be forwarded by the Commission to such natural-gas company, which shall be called upon to satisfy the complaint or to answer the same in writing within a reasonable time to be specified by the Commission. [15 U. S. C. 87177] INVESTIGATIONS BY COMMISSION; ATTENDANCE OF State, munici commission plaints. pality, or State may file com Contents of petition. be forwarded Commission. complaints to Investigation by Commission etc. SEO. 14. (a) The Commission may investigate any facts, conditions, practices, or matters which it may find of violations, necessary or proper in order to determine whether any person has violated or is about to violate any provision of this act or any rule, regulation, or order thereunder, or to aid in the enforcement of the provisions of this act or in prescribing rules or regulations thereunder, or in obtaining information to serve as a basis for recommending further legislation to the Congress. The Commission may permit any person to file with it a statement in writing, under oath or otherwise, as it shall determine, as to any or all facts and circumstances concerning a matter which may be the subject of investigation. The Commission, in its discretion, may publish in the manner authorized by section 312 of the Federal Power Act, and make available to State commissions and municipalities, information concerning any such matter. (b) The Commission may, after hearing, determine the adequacy or inadequacy of the gas reserves held or controlled by any natural-gas company, or by anyone on its behalf, including its owned or leased properties or royalty contracts; and may also, after hearing, deter Permission to persons to Ale statement convestigation. cerning in Commission may publish and make in information formation available to State commissions, etc. Adequacy of may be deterCommission. gas reserves mined by Reasonableness mine the propriety and reasonableness of the inclusion in of inclusion in operating ex penses, etc., of charges for unoperated delay rentals. operating expenses, capital, or surplus of all delay rentals or other forms of rental or compensation for unoplands or leases, erated lands and leases. For the purpose of such determinations, the Commission may require any natural-gas to file with the Commission true copies of all company its lease and royalty agreements with respect to such gas Natural-gas companies may be required to file copies of all leases, royalty agreements. Member of etc. Designated place of hearing. Fees of witnesses. Ald of court may be invoked in cases of refusal to obey subpenas, contumacy. Venue for application. Court may order appearance of witness of records. reserves. (c) For the purpose of any investigation or any other proceeding under this act, any member of the Commission, or any officer designated by it, is empowered to administer oaths and affirmations, subpena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, contracts, agreements, or other records which the Commission finds relevant or material to the inquiry. Such attendance of witnesses and the production of any such records may be required from any place in the United States or at any designated place of hearing. Witnesses summoned by the Commission to appear before it shall be paid the same fees and mileage that are paid witnesses in the courts of the United States. (d) In case of contumacy by, or refusal to obey a subpena issued to, any person, the Commission may invoke the aid of any court of the United States within the jurisdiction of which such investigation or proceeding is carried on, or where such person resides or carries on business in requiring the attendance and testimony of witnesses and the production of books, papers, correspondence, memoranda, contracts, agreements, and other records. Such court may issue an order requiring such and production person to appear before the Commission or member or officer designated by the Commission, there to produce records, if so ordered, or to give testimony touching the matter under investigation or in question; and any failure to obey such order of the court may be punished by such court as a contempt thereof. All process in any such case may be served in the judicial district whereof such person is an inhabitant or wherever he may be found or may be doing business. Any person who willfully shall fail or refuse to attend and testify or to answer any lawful inquiry or to produce books, papers, produce books, correspondence, memoranda, contracts, agreements, or other records, if in his or its power so to do, in obedi Failure to obey court order punishable as contempt. Service of process. Misdemeanor for failure to appear and testify or to etc. |