15 U.S.C. § 7110 — Authorization of appropriations

Page 2317 TITLE 15—COMMERCE AND TRADE § 7110 Senate. See Senate Resolution No. 123, One Hundred Seventh Congress, June 29, 2001. EFFECTIVE DATE OF 1997 AMENDMENT Amendment by Pub. L. 105–135 effective Oct. 1, 1997, see section 3 of Pub. L. 105–135, set out as a note under section 631 of this title. § 7108. Definitions For purposes of this chapter— (1) the term ‘‘Administration’’ means the Small Business Administration; (2) the term ‘‘Administrator’’ means the Ad- ministrator of the Small Business Administra- tion; (3) the term ‘‘control’’ means exercising the power to make policy decisions concerning a business; (4) the term ‘‘Council’’ means the National Women’s Business Council, established under section 7105 of this title; (5) the term ‘‘Interagency Committee’’ means the Interagency Committee on Wom- en’s Business Enterprise, established under section 7101 of this title; (6) the term ‘‘operate’’ means being actively involved in the day-to-day management of a business; (7) the term ‘‘women’s business enterprise’’ means— (A) a business or businesses owned by a woman or a group of women; or (B) the establishment, maintenance, or de- velopment of a business or businesses by a woman or a group of women; and (8) the term ‘‘women-owned business’’ means a small business which a woman or a group of women— (A) control and operate; and (B) own not less than 51 percent of the business. (Pub. L. 100–533, title IV, § 408, as added Pub. L. 103–403, title IV, § 413, Oct. 22, 1994, 108 Stat. 4197.) § 7109. Studies and other research (a) In general The Council may conduct such studies and other research relating to the award of Federal prime contracts and subcontracts to women- owned businesses, to access to credit and invest- ment capital by women entrepreneurs, or to other issues relating to women-owned busi- nesses, as the Council determines to be appro- priate. (b) Contract authority In conducting any study or other research under this section, the Council may contract with one or more public or private entities. (Pub. L. 100–533, title IV, § 409, formerly § 410, as added Pub. L. 105–135, title III, § 307, Dec. 2, 1997, 111 Stat. 2611; renumbered § 409 and amended Pub. L. 106–554, § 1(a)(9) [title VII, § 704], Dec. 21, 2000, 114 Stat. 2763, 2763A–701.) Editorial Notes PRIOR PROVISIONS A prior section 409 of Pub. L. 100–533, as added Pub. L. 105–135, title III, § 306, Dec. 2, 1997, 111 Stat. 2610, re- lated to the National Women’s Business Council pro- curement project, prior to repeal by Pub. L. 106–554, § 1(a)(9) [title VII, § 703], Dec. 21, 2000, 114 Stat. 2763, 2763A–701. Another prior section 409 of Pub. L. 100–533 was re- numbered section 410 and is classified to section 7110 of this title. AMENDMENTS 2000—Pub. L. 106–554 amended section catchline and text generally. Prior to amendment, text provided con- ditional authorization for the Council to conduct stud- ies and research relating to the award of Federal prime contracts and subcontracts to women-owned businesses or to issues relating to access to credit and investment capital by women entrepreneurs and to contract with other entities to conduct such studies and research. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Oct. 1, 1997, see section 3 of Pub. L. 105–135, set out as an Effective Date of 1997 Amendment note under section 631 of this title. § 7110. Authorization of appropriations (a) In general There is authorized to be appropriated to carry out this chapter $1,000,000, for each of fis- cal years 2001 through 2003, of which $550,000 shall be available in each such fiscal year to carry out section 7109 of this title. (b) Budget review No amount made available under this section for any fiscal year may be obligated or expended by the Council before the date on which the Council reviews and approves the operating budget of the Council to carry out the respon- sibilities of the Council for that fiscal year. (Pub. L. 100–533, title IV, § 410, formerly § 409, as added Pub. L. 103–403, title IV, § 413, Oct. 22, 1994, 108 Stat. 4197; renumbered § 411 and amended Pub. L. 105–135, title III, § 305, Dec. 2, 1997, 111 Stat. 2610; renumbered § 410 and amended Pub. L. 106–554, § 1(a)(9) [title VII, § 705], Dec. 21, 2000, 114 Stat. 2763, 2763A–702.) Editorial Notes PRIOR PROVISIONS A prior section 410 of Pub. L. 100–533 was renumbered section 409 and is classified to section 7109 of this title. AMENDMENTS 2000—Pub. L. 106–554 amended section catchline and text generally. Prior to amendment, text authorized appropriations to carry out this chapter for fiscal years 1998 through 2000 and limited obligation or expenditure of those funds prior to the budget review by the Council for that fiscal year. 1997—Pub. L. 105–135 amended section catchline and text generally. Prior to amendment, text read as fol- lows: ‘‘There are authorized to be appropriated for each of fiscal years 1995 through 1997, to carry out this chap- ter, $350,000.’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1997 AMENDMENT Amendment by Pub. L. 105–135 effective Oct. 1, 1997, see section 3 of Pub. L. 105–135, set out as a note under section 631 of this title. Page 2318 TITLE 15—COMMERCE AND TRADE § 7201 CHAPTER 98—PUBLIC COMPANY ACCOUNT- ING REFORM AND CORPORATE RESPONSI- BILITY Sec. 7201. Definitions. 7202. Commission rules and enforcement. SUBCHAPTER I—PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD 7211. Establishment; administrative provisions. 7212. Registration with the Board. 7213. Auditing, quality control, and independence standards and rules. 7214. Inspections of registered public accounting firms. 7214a. Additional disclosure. 7215. Investigations and disciplinary proceedings. 7216. Foreign public accounting firms. 7217. Commission oversight of the Board. 7218. Accounting standards. 7219. Funding. 7220. Definitions. SUBCHAPTER II—AUDITOR INDEPENDENCE 7231. Exemption authority. 7232. Study of mandatory rotation of registered public accounting firms. 7233. Commission authority. 7234. Considerations by appropriate State regu- latory authorities. SUBCHAPTER III—CORPORATE RESPONSIBILITY 7241. Corporate responsibility for financial reports. 7242. Improper influence on conduct of audits. 7243. Forfeiture of certain bonuses and profits. 7244. Insider trades during pension fund blackout periods. 7245. Rules of professional responsibility for attor- neys. 7246. Fair funds for investors. SUBCHAPTER IV—ENHANCED FINANCIAL DISCLOSURES 7261. Disclosures in periodic reports. 7262. Management assessment of internal controls. 7263. Exemption. 7264. Code of ethics for senior financial officers. 7265. Disclosure of audit committee financial ex- pert. 7266. Enhanced review of periodic disclosures by issuers. § 7201. Definitions Except as otherwise specifically provided in this Act, in this Act, the following definitions shall apply: (1) Appropriate State regulatory authority The term ‘‘appropriate State regulatory au- thority’’ means the State agency or other au- thority responsible for the licensure or other regulation of the practice of accounting in the State or States having jurisdiction over a reg- istered public accounting firm or associated person thereof, with respect to the matter in question. (2) Audit The term ‘‘audit’’ means an examination of the financial statements of any issuer by an independent public accounting firm in accord- ance with the rules of the Board or the Com- mission (or, for the period preceding the adop- tion of applicable rules of the Board under sec- tion 7213 of this title, in accordance with then- applicable generally accepted auditing and re- lated standards for such purposes), for the pur- pose of expressing an opinion on such state- ments. (3) Audit committee The term ‘‘audit committee’’ means— (A) a committee (or equivalent body) es- tablished by and amongst the board of direc- tors of an issuer for the purpose of over- seeing the accounting and financial report- ing processes of the issuer and audits of the financial statements of the issuer; and (B) if no such committee exists with re- spect to an issuer, the entire board of direc- tors of the issuer. (4) Audit report The term ‘‘audit report’’ means a document or other record— (A) prepared following an audit performed for purposes of compliance by an issuer with the requirements of the securities laws; and (B) in which a public accounting firm ei- ther— (i) sets forth the opinion of that firm re- garding a financial statement, report, or other document; or (ii) asserts that no such opinion can be expressed. (5) Board The term ‘‘Board’’ means the Public Com- pany Accounting Oversight Board established under section 7211 of this title. (6) Commission The term ‘‘Commission’’ means the Securi- ties and Exchange Commission. (7) Issuer The term ‘‘issuer’’ means an issuer (as de- fined in section 78c of this title), the securities of which are registered under section 78l of this title, or that is required to file reports under section 78o(d) of this title, or that files or has filed a registration statement that has not yet become effective under the Securities Act of 1933 (15 U.S.C. 77a et seq.), and that it has not withdrawn. (8) Non-audit services The term ‘‘non-audit services’’ means any professional services provided to an issuer by a registered public accounting firm, other than those provided to an issuer in connection with an audit or a review of the financial statements of an issuer. (9) Person associated with a public accounting firm (A) In general The terms ‘‘person associated with a pub- lic accounting firm’’ (or with a ‘‘registered public accounting firm’’) and ‘‘associated person of a public accounting firm’’ (or of a ‘‘registered public accounting firm’’) mean any individual proprietor, partner, share- holder, principal, accountant, or other pro- fessional employee of a public accounting firm, or any other independent contractor or entity that, in connection with the prepara- tion or issuance of any audit report— (i) shares in the profits of, or receives compensation in any other form from, that firm; or