3
2
1
SEC. 2. That when used in this Act, unless the context
I of Commerce any such action may be affirmed, modified, or
2
set aside by him, as he deems advisable.
2 otherwise indicates-
"
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3
The term person includes individual, partnership,
4 corporation, and association;
3
SEC. 4. (a) Three or more individuals (hereinafter in
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to any foreign government, (2) the Crown Colony of
CC
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10
The term corporation means a corporation char-
tered under the provisions of this Act;
*
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The term federal district court
means any federal
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district court, the United States Court for China, and the
13 Supreme Court of the District of Columbia;
The term "China" means (1) China including Man
6 churia, Thibet, Mongolia, and any territory leased by China
8 Hongkong, and (3) the Province of Macao;
4 this Act referred to as the "incorporators "), a majority of
5 whom are citizens of the United States. may in accordance
6 with the provisions of this Act, form a corporation.
(b) Such corporation may engage in any business or
8 enterprise conducted wholly within China and carried on
9 with persons in China; except that the corporation—
(1) Shall not engage in any business or enterprise un-
and lawful in the territory in which it is carried on;
(2) Shall not engage in the business of discounting
7
10
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12
13 bills, notes, or other evidences of debt, of receiving deposits,
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SEC. 3. The Secretary of Commerce shall exercise all
of buying and selling bills of exchange, or of issuing bills,
15
15 powers and perform all duties imposed on him by this Act,
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but in China only through such officers or agents as he, by
notes, or other evidences of debt, for circulation as money; nor engage in any form of banking business.
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agreement with the Secretary of State, shall designate and
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authorize so to act, and for this purpose the Secretary of 19 Commerce and the Secretary of State may utilize such exist- 20 ing or create such new offices or agencies as they deem 21 necessary. For the purposes of this Act, the action of any 22 officer or agent so designated and authorized shall be made 23 in the name and held to be the act of the Secretary of 24 Commerce: Provided, That upon appeal to the Secretary
(c) The corporation shall not engage in any business or enterprise other than that authorized by subdivision (b), 19 except that it—
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(1) May purchase in the United States for transporta- tion to China, goods, wares, or merchandise necessary to the establishment and conduct of a business or enterprise in
23 which it is authorized to engage;
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(2) May do in the United States and elsewhere any act which is incidental to the organization of the corporation
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