An Act to authorize the Securities and Exchange Commission to delegate certain functions
PL 87-592 (S.2135), enacted 08/20/1962

394 
PUBLIC LAW 87-592-AUG. 20, 1962 
[76 STAT. 
"(1) he had not previously been rehabilitated (that is, ren-; 
dered employable) as the result of training furnished under this 
chapter, or 
"(2) his blindness either has worsened, or has developed as a 
result of the worsening of his service-connected disability, since 
he was declared rehabilitated to the extent that it precludes his 
performing the duties of the occupation for which he was previ-
ously trained under this chapter." 
SEC, 2. The table of sections at the head of chapter 31 of title 38, 
United States Code, is amended by adding immediately below item 
1502 thereof the following : 
"1502A. Blinded veterans." 
Approved August 16, 1962. 
Public Law 87-592 
August 20, 1962 
AN ACT 
[s. 2135] 
To authorize the Securities and Exchange Commission to delegate certain 
functions. 
Securities and 
Exchange Com-
mission. 
Delegation of 
functions. 
5 u s e 1006. 
60 Stat. 237. 
5 u s e 1001 note. 
48 Stat. 898. 
15 u s e 78s. 
Right of review. 
54 Stat. 857; 
48 Stat. 79. 
15 u s e 77h. 
48 Stat. 892. 
15 u s e 78/. 
15 u s e 780. 
15 u s e 78s. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That (a) in addition 
to its existing authority, the Securities and Exchange Commission, 
hereinafter referred to as the "Commission", shall have the authority 
to delegate, by published order or rule, any of its functions to a divi-
sion of the Commission, an individual Commissioner, a hearing exam-
iner, or an employee or employee board, including functions with re-
spect to hearing, determining, ordering, certifying, reporting, or other-
wise acting as to any work, business, or matter: Provided, howe^ver^ 
That nothing herein contained shall be deemed to supersede the provi-
sions of section 7(a) of the Administrative Procedure Act of 1946 (60 
Stat. 241), as amended: And provided further, That nothing herein 
contained shall be deemed to authorize the delegation of the function 
of rulemaking as defined in the Administrative Procedure Act of 1946, 
as amended, with reference to general rules as distinguished from rules 
of particular applicability, or of the making of any rule, regulation, or 
order pursuant to section 19(b) of the Securities Exchange Act of 
1934. 
(b) With respect to the delegation of any of its functions, as pro-
vided in subsection (a) of this section, the Commission shall retain a 
discretionary right to review the action of any such division of the 
Commission, individual Commissioner, hearing examiner, employee, 
or employee board, upon its own initiative or upon petition of a party 
to or an intervenor in such action, within such time and in such man-
ner as the Commission shall by rule prescribe: Provided, 
however, 
That the vote of one member of the Commission shall be sufficient to 
bring any such action before the Commission for review: And pro-! 
vided further. That in the event action at a delegated level (1) denies '• 
any request for action pursuant to section 8(a) or section 8(c) of the 
Securities Act of 1933 or the first sentence of section 12 (d) of the Secu-, 
rities Exchange Act of 1934; (2) suspends, denies, or revokes a' 
broker-dealer registration pursuant to section 15(b) of the Securities 
Exchange Act of 1934; (3) suspends, denies, or withdraws any regis-
tration or suspends or expels a member of a national securities ex-: 
change pursuant to section 19(a) of the Securities Exchange Act of 
1934; or (4) suspends trading on an exchange pursuant to section 
19(a) of the Securities Exchange Act of 1934, a person or party 
adversely affected by such action shall be entitled to review by the 
Commission. 
^ 
76 STAT. ] 
PUBLIC LAW 87-594-AUG. 24, 1962 
395 
(c) Should the right to exercise such review be declined, or should 
no such review be sought within the time stated in the rules •promul-
gated by the Commission, then the action of any such division of the 
Commission, individual Commissioner, hearing examiner, employee, 
or employee board, shall, for all purposes, including appeal or review 
thereof, be deemed the action of the Commission. 
SEC. 2. In addition to the functions transferred by the provisions of 
Reorganization Plan Numbered 10 of 1950 (64 Stat. 1265), there are 
hereby transferred from the Commission to the Chairman of the Com-
mission the functions of the Commission with respect to the assign-
ment of Commission personnel, including Commissioners, to perform 
such functions as may have been delegated by the Commission to 
Commission personnel, including Commissioners, pursuant to section 1. 
Approved August 20, 1962. 
5 u s e 1332-15. 
Public Law 87-593 
AN ACT 
August 20, 1962 
To amend the Act of August 7,1946, relating to the District of Columbia hospital 
[H. R. 12547] 
center, to extend the time during which appropriations may be made for the 
purposes of that Act. 
Be it enacted hy the Senate and House of Representatives 
of the^ 
United States of America in Congress assembled^ That section 6 of 
the Act entitled "An Act to provide for the establishment of a modern, 
adequate, and efficient hospital center in the District of Columbia, to 
authorize the making of grants for hospital facilities to private agen-
cies in the District of Columbia, to provide a basis for repayment to 
the Government by the Commissioners of the District oi Columbia, 
and for other purposes", approved August 7, 1946 (60 Stat. 896), as 
amended, is amended by striking out "on the last day of the second ses-
sion of the Eighty-seventh Congress" and inserting in liieu thereof 
"June 30, 1963'\ 
Approved August 20, 1962. 
D.C. 
Hospital facil-
ities. 
Ante, p. 124. 
Public Law 87-594 
AN ACT 
To authorize the Secretary of the Interior to construct, operate, and maintain 
the Arbuckle reclamation project, Oklahoma, and for other purposes. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ I'hat the Secretary 
of the Interior is authorized to construct, operate, and maintain the 
Arbuckle Federal reclamation project, Oklahoma, in accordance with 
the Federal reclamation laws (Act of June 17, 1902, 32 Stat. 388, and 
Acts amendatory thereof or supplementary thereto), for the principal 
purposes of storing, regulating, and furnishing water for municipal, 
domestic, and industrial use, and for controlling floods and for the 
conservation and development of fish and wildlife, and the enhance-
ment of recreational opportunities. 
The project shall consist of the 
following principal works: A reservoir on Rock Creek near Sulphur, 
Oklahoma, pumping plants, pipelines, and other conduits for furnish-
ing water for municipal, domestic, and industrial use, and minimum 
basic recreational facilities. 
SEC. 2. In constructing, operating, and maintaining the Arbuckle 
project, the Secretary shall allocate the costs thereof among different 
August 24. 1962 
[H. R. 23] 
Interior Depart-
ment. 
Arbuckle recla-
mation project, 
Okla. 
Construction au-
thorization. 
43 u s e 371 note. 
Allocation of 
CO st s.