42 U.S.C. § 6382 — Powers and duties of Comptroller General

Page 6822 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 6382 consideration, in whole or in part, by a Fed- eral agency in carrying out responsibilities committed to such agency; or (3) any vertically integrated petroleum com- pany with respect to financial information of such company related to energy resource ex- ploration, development, and production and the transportation, refining and marketing of energy resources and energy products. (b) Request for examination The Comptroller General shall conduct verification examinations of any person or com- pany described in subsection (a), if requested to do so by any duly established committee of the Congress having legislative or oversight respon- sibilities under the rules of the House of Rep- resentatives or of the Senate, with respect to energy matters or any of the laws administered by the Department of the Interior (or the Sec- retary thereof), the Federal Energy Regulatory Commission, or the Secretary. (c) Definitions For the purposes of this subchapter— (1) The term ‘‘verification examination’’ means an examination of such books, records, papers, or other documents of a person or com- pany as the Comptroller General determines necessary and appropriate to assess the accu- racy, reliability, and adequacy of the energy information, or financial information, referred to in subsection (a). (2) The term ‘‘energy information’’ has the same meaning as such term has in section 796(e)(1) of title 15. (3) The term ‘‘person’’ has the same meaning as such term has in section 796(e)(2) of title 15. (4) The term ‘‘vertically integrated petro- leum company’’ means any person which itself, or through a person which is controlled by, controls, or is under common control with such person, is engaged in the production, re- fining, and marketing of petroleum products. (Pub. L. 94–163, title V, § 501, Dec. 22, 1975, 89 Stat. 956; Pub. L. 95–91, title III, § 301, title IV, § 402, title VII, §§ 703, 707, Aug. 4, 1977, 91 Stat. 577, 583, 606, 607; Pub. L. 95–619, title VI, § 691(b)(2), Nov. 9, 1978, 92 Stat. 3288.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in subsec. (c), was in the original ‘‘this title’’, meaning title V of Pub. L. 94–163, Dec. 22, 1975, 89 Stat. 956, which is classified principally to this subchapter. For complete classification of title V to the Code, see Tables. AMENDMENTS 1978—Subsec. (b). Pub. L. 95–619 purported to sub- stitute ‘‘Secretary’’ for ‘‘Administrator’’, meaning Ad- ministrator of the Federal Energy Administration. See Transfer of Functions note below. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS ‘‘Secretary, the Department of the Interior, or the Federal Energy Regulatory Commission’’ and ‘‘Sec- retary’’ substituted for ‘‘Federal Energy Administra- tion, the Department of the Interior, or the Federal Power Commission’’ and ‘‘Administration’’, respec- tively, in subsec. (a)(1), and ‘‘Federal Energy Regu- latory Commission, or the Secretary’’ substituted for ‘‘Federal Power Commission, or the Federal Energy Ad- ministration (or the Administrator)’’ in subsec. (b) pur- suant to sections 301, 402, 703, and 707 of Pub. L. 95–91, which are classified to sections 7151, 7172, 7293, and 7297 of this title and which terminated the Federal Energy Administration and transferred its functions and func- tions of Administrator thereof (with certain excep- tions) to the Secretary of Energy and terminated the Federal Power Commission and transferred its func- tions to the Federal Energy Regulatory Commission and the Secretary of Energy. § 6382. Powers and duties of Comptroller General (a) Subpenas; discovery and inspection; oaths; search For the purpose of carrying out his authority under section 6381 of this title— (1) the Comptroller General may— (A) sign and issue subpenas for the attend- ance and testimony of witnesses and the pro- duction of books, records, papers, and other documents; (B) require any person, by general or spe- cial order, to submit answers in writing to interrogatories, to submit books, records, papers, or other documents, or to submit any other information or reports, and such answers or other submissions shall be made within such reasonable period, and under oath or otherwise, as the Comptroller Gen- eral may determine; and (C) administer oaths. (2) the Comptroller General, or any officer or employee duly designated by the Comptroller General, upon presenting appropriate creden- tials and a written notice from the Comp- troller General to the owner, operator, or agent in charge, may— (A) enter, at reasonable times, any busi- ness premise or facility; and (B) inspect, at reasonable times and in a reasonable manner, any such premise or fa- cility, inventory and sample any stock of en- ergy resources therein, and examine and copy books, records, papers, or other docu- ments, relating to any energy information, or any financial information in the case of a vertically integrated petroleum company. (b) Information in possession of Federal agencies The Comptroller General shall have access to any energy information within the possession of any Federal agency (other than the Internal Revenue Service) as is necessary to carry out his authority under this section. (c) Transmission of examination results to Fed- eral agencies (1) Except as provided in subsections (d) and (e), the Comptroller General shall transmit a copy of the results of any verification examina- tion conducted under section 6381 of this title to the Federal agency to which energy information which was subject to such examination was fur- nished. (2) Any report made pursuant to paragraph (1) shall include the Comptroller General’s findings with respect to the accuracy, reliability, and adequacy of the energy information which was the subject of such examination. Page 6823 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 6383 1 See References in Text note below. (d) Report to Congressional committees If the verification examination was conducted at the request of any committee of the Congress, the Comptroller General shall report his find- ings as to the accuracy, reliability, or adequacy of the energy information which was the subject of such examination, or financial information in the case of a vertically integrated petroleum company, directly to such committee of the Congress and any such information obtained and such report shall be deemed the property of such committee and may not be disclosed except in accordance with the rules of the committee and the rules of the House of Representatives or the Senate and as permitted by law. (e) Disclosure of geological or geophysical infor- mation (1) Any information obtained by the Comp- troller General or any officer or employee of the Government Accountability Office pursuant to the exercise of responsibilities or authorities under this section which relates to geological or geophysical information, or any estimate or in- terpretation thereof, the disclosure of which would result in significant competitive dis- advantage or significant loss to the owner there- of shall not be disclosed except to a committee of Congress. Any such information so furnished to a committee of the Congress shall be deemed the property of such committee and may not be disclosed except in accordance with the rules of the committee and the rules of the House of Representatives or the Senate and as permitted by law. (2) Any person who knowingly discloses infor- mation in violation of paragraph (1) shall be subject to the penalties specified in section 754(a)(3)(B) and (4) 1 of title 15. (Pub. L. 94–163, title V, § 502, Dec. 22, 1975, 89 Stat. 957; Pub. L. 104–316, title I, § 122(p), Oct. 19, 1996, 110 Stat. 3838; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814.) Editorial Notes REFERENCES IN TEXT Section 754 of title 15, referred to in subsec. (e)(2), was omitted from the Code pursuant to section 760g of Title 15, Commerce and Trade, which provided for the expira- tion of the President’s authority under that section on Sept. 30, 1981. AMENDMENTS 2004—Subsec. (e)(1). Pub. L. 108–271 substituted ‘‘Gov- ernment Accountability Office’’ for ‘‘General Account- ing Office’’. 1996—Subsec. (f). Pub. L. 104–316 struck out subsec. (f) which read as follows: ‘‘The Comptroller General shall prepare and submit to the Congress an annual report with respect to the exercise of its authorities under this part, which report shall specifically identify any deficiencies in energy information or financial infor- mation reviewed by the Comptroller General and in- clude a discussion of action taken by the person or company so examined, if any, to correct any such defi- ciencies.’’ § 6383. Accounting practices (a) Development by Securities and Exchange Commission; time of taking effect For purposes of developing a reliable energy data base related to the production of crude oil and natural gas, the Securities and Exchange Commission shall take such steps as may be necessary to assure the development and observ- ance of accounting practices to be followed in the preparation of accounts by persons engaged, in whole or in part, in the production of crude oil or natural gas in the United States. Such practices shall be developed not later than 24 months after December 22, 1975, and shall take effect with respect to the fiscal year of each such person which begins 3 months after the date on which such practices are prescribed or made effective under the authority of subsection (b)(2). (b) Consultation with Secretary, Government Ac- countability Office and Federal Energy Regu- latory Commission; rules; reliance on prac- tices developed by Financial Accounting Standards Board; opportunity to submit written comment In carrying out its responsibilities under sub- section (a), the Securities and Exchange Com- mission shall— (1) consult with the Secretary, the Govern- ment Accountability Office, and the Federal Energy Regulatory Commission with respect to accounting practices to be developed under subsection (a), and (2) have authority to prescribe rules applica- ble to persons engaged in the production of crude oil or natural gas, or make effective by recognition, or by other appropriate means in- dicating a determination to rely on, account- ing practices developed by the Financial Ac- counting Standards Board, if the Securities and Exchange Commission is assured that such practice will be observed by persons en- gaged in the production of crude oil or natural gas to the same extent as would result if the Securities and Exchange Commission had pre- scribed such practices by rule. The Securities and Exchange Commission shall afford interested persons an opportunity to sub- mit written comments with respect to whether it should exercise its discretion to recognize or otherwise rely on such accounting practice in lieu of prescribing such practices by rule and may extend the 24-month period referred to in subsection (a) as it determines may be necessary to allow for a meaningful comment period with respect to such determination. (c) Requirements for accounting practices The Securities and Exchange Commission shall assure that accounting practices developed pursuant to this section, to the greatest extent practicable, permit the compilation, treating domestic and foreign operations as separate cat- egories, of an energy data base consisting of: (1) The separate calculation of capital, rev- enue, and operating cost information per- taining to— (A) prospecting, (B) acquisition,