Foreign Investment Reporting Act

Summary

Foreign Investment Reporting Act - Defines the terms used in this Act. Directs the Secretary of Commerce to require, by order or regulation, quarterly reports from any foreign investor or his agent who acquires any interest in a domestic business, if that investor's aggregate interest in that business has a fair market value in excess of $10,000 or exceeds one-half of one percent of the outstanding marketable shares of such business. Prescribes the contents of such reports. Imposes a fine not to exceed $1,000 or imprisonment not to exceed one year, or both, for knowing violation of this Act or any regulation issued under this Act. Allows the Secretary to request the Attorney General to bring an action in United States district court to compel compliance with this Act. Empowers the court to issue a temporary restraining order or injunction to compel compliance, and to order the disposal of any investments made without compliance with this Act. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 19 December 1974

  Open at official source

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