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The term federal district court
means any federal
district court, the United States Court for China, and the
3 Supreme Court of the District of Columbia;
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(2) Shall not engage in the business of discounting
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bills, notes, or other evidences of debt, of receiving deposits,
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of buying and selling bills of exchange, or of issuing bills,
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SEC. 3. The Secretary of Commerce shall exercise all
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notes, or other evidences of debt, for circulation as money;
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powers and perform all duties imposed on him by this Act,
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nor engage in any form of banking business.
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but in China only through such officers or agents as he, by
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7 agreement with the Secretary of State, shall designate and
8 authorize so to act, and for this purpose the Secretary of
9 Commerce and the Secretary of State may utilize such 10 existing offices and agencies as they deem necessary. 11 For the purposes of this Act, the action of any officer
(c) The corporation shall not engage in any business
or enterprise other than that authorized by subdivision (b),
8 except that it-
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(1) May purchase in the United States for transporta
10 tion to China, goods, wares, or merchandise necessary to the
establishment and conduct of a business or enterprise in
which it is authorized to engage;
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or agent so designated and authorized shall be made
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in the name and held to be the act of the Secretary of
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Commerce: Provided, That upon appeal to the Secretary
of Commerce any such action may be affirmed, modified, or
set aside by him, as he deems advisable.
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(2) May do in the United States and elsewhere any
act which is incidental to the organization of the corporation
or to the issue, sale, transfer, or redemption of its stocks,
16 bonds, or other evidences of indebtedness; and
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SEC. 4. (a) Three or more individuals (hereinafter in
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(3) May do in the United States and elsewhere any
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this Act referred to as the "incorporators "), a majority of
whom are citizens of the United States. may in accordance
with the provisions of this Act, form a corporation.
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(b) Such corporation may engage in any business or
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act which is approved by the Secretary of Commerce as nec-
essary to the establishment and conduct of any business or
20 enterprise in which it is authorized to engage.
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SEC. 5. That the incorporators shall make application for
22 enterprise conducted wholly within China and carried on
23 with persons in China; except that the corporation—
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(1) Shall not engage in any business or enterprise un-
25 lawful in the territory in which it is carried on; and
a charter and file it with the Secretary of Conmerce in such
manner and in such form as shall be by regulation prescribed.
24 The application shall state-
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