(Sec. 3) Requires the President to include in the report information: (1) on any action taken by a person identified in a prior annual report that establishes that the person has discontinued, rectified, or mitigated a prior proliferation activity identified under this Act; (2) on measures taken against such persons or against China in response to proliferation activities; and (3) other specified information.
Requires submission of such reports in unclassified form, with classified annexes as necessary.
(Sec. 4) Directs the President to apply certain measures for at least 12 months to each person identified in the annual report.
Includes among such measures: (1) those set forth Executive Order No. 12938; (2) prohibition of U.S. Government transfers or sales to such person of any item on the U.S. Munitions List, and termination of all sales and after-sale servicing to such person of any defense articles, defense services, or design and construction services under the Arms Export Control Act; (3) denial of licenses, suspension of existing licenses, and termination of all transfers or sales and after-sale servicing for the transfer to such person of any item the export of which is controlled under the Export Administration Act of 1979 or the Export Administration regulations; (4) prohibition of U.S. Government procurement of any goods or services from such person; (5) prohibition of U.S. assistance to such person in the form of grants, loans, credits, guarantees, or otherwise; (6) immediate suspension of any agreements or efforts for the co-development or co-production with such person of any item on the U.S. Munitions List.
Sets conditions for the lifting of such measures.
(Sec. 5) Requires the President to apply additional specified tier 1, tier 2, and tier 3 measures against China if certain circumstances exist. Requires one or more tier 2 measures if a person's proliferation activities are not rectified, or a person has engaged in additional proliferation activities, one year after imposition of section (4) measures, and one or more tier 3 measures if similar circumstances exist two years after imposition of section (4) measures.
(Sec. 6) Sets forth procedures for congressional review of any presidential decision not to impose sanctions under this Act, or to exempt a person or China from such sanctions. Mandates imposition of such sanctions if Congress disapproves by joint resolution the President's decision.
(Sec. 7) Requires transmittal to the Securities and Exchange Commission (SEC) of the President's annual report under this Act.
Requires the SEC to promulgate regulations to: (1) ensure that securities investors are notified of the identity of any person in the report the securities of which are listed, or authorized for listing, on a registered national securities exchange (or tier or segment) or by a registered national securities association; and (2) require each person included in such a report to provide notice of such inclusion in each written report, registration statement, or other filing or notice required from that person under the securities laws.
[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 2645 Placed on Calendar Senate (PCS)]
Calendar No. 583
106th CONGRESS
2d Session
S. 2645
To provide for the application of certain measures to the People's
Republic of China in response to the illegal sale, transfer, or misuse
of certain controlled goods, services, or technology, and for other
purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 25, 2000
Mr. Thompson (for himself, Mr. Torricelli, Ms. Collins, Mr. Kyl, Mr.
Inhofe, Mr. Santorum, Mr. DeWine, and Mr. Specter) introduced the
following bill; which was read the first time
June 6, 2000
Read the second time and placed on the calendar
_______________________________________________________________________
A BILL
To provide for the application of certain measures to the People's
Republic of China in response to the illegal sale, transfer, or misuse
of certain controlled goods, services, or technology, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``China Nonproliferation Act''.
SEC. 2. DEFINITIONS.
In this Act:
(1) Advanced conventional weapons.--The term ``advanced
conventional weapons'' includes--
(A) long-range precision-guided munitions, fuel air
explosives, cruise missiles, low observability aircraft
or vessels, other radar evading aircraft or vessels,
advanced military aircraft, military satellites,
electromagnetic weapons, and laser weapons;
(B) advanced command, control, and communications
systems, electronic warfare systems, and intelligence
collection systems; and
(C) such other items or systems as the President
may, by regulation, determine necessary for purposes of
this title.
(2) Goods and technology.--The terms ``goods'' and
``technology'' mean--
(A) any article, natural or manmade substance,
material, supply, or manufactured product, including
inspection and test equipment; and
(B) any information and know-how (whether in
tangible form, such as models, prototypes, drawings,
sketches, diagrams, blueprints, or manuals, or in
intangible form, such as training or technical
services) that can be used to design, produce,
manufacture, utilize, improve the performance of or
reconstruct goods, including computer software and
technical data.
(3) Person.--The term ``person'' means--
(A) any United States or People's Republic of China
individual, partnership, corporation, or other form of
association, or any of their successor entities,
parents, or subsidiaries;
(B) any other nongovernmental entity, organization,
or group, that is organized under the laws of the
United States or the People's Republic of China or has
its principal place of business in the United States or
the People's Republic of China;
(C) any governmental entity of the People's
Republic of China operating as a business enterprise;
and
(D) any successor, subunit, or subsidiary of any
entity described in subparagraphs (A) through (C).
(4) Proliferation activity.--The term ``proliferation
activity'' means the activity described in section 3(a)(1).
(5) State-owned enterprise of the people's republic of
china.--
(A) In general.--The term ``state-owned enterprise
of the People's Republic of China'' means a person who
is affiliated with or wholly owned, controlled, or
subsidized by the Government of the People's Republic
of China or the People's Liberation Army and whose
means of production, products, and revenues are owned
or controlled by a central or provincial government
authority. A person shall be considered to be state-
owned if--
(i) the person's assets are primarily owned
by a central or provincial government
authority;
(ii) a substantial proportion of the
person's profits are required to be submitted
to a central or provincial government
authority;
(iii) the person's production, purchases of
inputs, and sales of output, in whole or in
part, are subject to state, sectoral, or
regional plans; or
(iv) a license issued by a government
authority classifies the person as state-owned.
(B) Exception.--Any person that--
(i) is a qualified foreign joint venture or
is licensed by a governmental authority as a
collective, cooperative, or private enterprise;
or
(ii) is wholly owned by a foreign person,
shall not be considered to be state-owned.
(C) Qualified foreign joint venture.--The term
``qualified foreign joint venture'' means any person--
(i) which is registered and licensed in the
agency or department of the Government of the
People's Republic of China concerned with
foreign economic relations and trade as an
equity, cooperative, contractual joint venture,
or joint stock company with foreign investment;
(ii) in which the foreign investor partner
and a person of the People's Republic of China
share profits and losses and jointly manage the
venture;
(iii) in which the foreign investor partner
holds or controls at least 25 percent of the
investment and the foreign investor partner is
not substantially owned or controlled by a
state-owned enterprise of the People's Republic of China;
(iv) in which the foreign investor partner
is not a person of a country the government of
which the Secretary of State has determined
under section 6(j) of the Export Administration
Act of 1979 (50 U.S.C. App. 2405(j)) to have
repeatedly provided support for acts of
international terrorism; and
(v) which does not use state-owned
enterprises of the People's Republic of China
to export its goods or services.
(6) United states assistance.--The term ``United States
assistance'' means--
(A) any assistance under the Foreign Assistance Act
of 1961, other than urgent humanitarian assistance or
medicine;
(B) sales and assistance under the Arms Export
Control Act;
(C) financing by the Commodity Credit Corporation
for export sales of agricultural commodities; and
(D) financing under the Export-Import Bank Act.
SEC. 3. REPORTS ON PROLIFERATION BY PEOPLE'S REPUBLIC OF CHINA.
(a) Reports.--
(1) In general.--The President shall, at the times
specified in subsection (b), submit to the Committee on
International Relations of the House of Representatives, the
Committee on Foreign Relations of the Senate, the Committee on
Armed Services of the Senate, the Select Committee on
Intelligence of the Senate, and the Committee on Governmental
Affairs of the Senate, a report identifying every person with
respect to whom there is credible information indicating that
that person, on or after January 1, 2000, transferred,
retransferred, sold, misused, or diverted from, or within, the
People's Republic of China to a foreign person or national of
the People's Republic of China involved in the development or
acquisition of nuclear, chemical, or biological weapons or
ballistic or cruise missiles--
(A) goods, services, or technology listed on--
(i) the Nuclear Suppliers Group Guidelines
for the Export of Nuclear Material, Equipment
and Technology (published by the International
Atomic Energy Agency as Information Circular
INFCIRC/254/Rev. 3/Part 1, and subsequent
revisions) and Guidelines for Transfers of
Nuclear-Related Dual-Use Equipment, Material,
and Related Technology (published by the
International Atomic Energy Agency as
Information Circular INFCIRC/254/Rev. 3/ Part
2, and subsequent revisions);
(ii) the Missile Technology Control Regime
Equipment and Technology Annex of June 11,
1996, and subsequent revisions;
(iii) the lists of items and substances
relating to biological and chemical weapons the
export of which is controlled by the Australia
Group;
(iv) the Schedules of the Convention on the
Prohibition of the Development, Production,
Stockpiling and Use of Chemical Weapons and on
Their Destruction, including chemicals,
precursors, and other substances; or
(v) the Wassenaar Arrangement list of Dual
Use Goods and Technologies and Munitions list
of July 12, 1996, and subsequent revisions; or
(B) goods, services, or technology not listed on
any list identified in subparagraph (A) but which
nevertheless would be, if the goods, services, or
technology were United States goods, services, or
technology, prohibited or controlled for export to the
People's Republic of China, or any tier IV countries as
defined by the Bureau of Export Administration of the
Department of Commerce, and that have the potential to
make a contribution to the development, improvement, or
production of nuclear, biological, or chemical weapons,
or of ballistic or cruise missile systems, or advanced
conventional weapons or munitions.
(2) Action by persons identified.--The President shall
include in the report information on any action taken by a
person identified in a prior annual report under this
subsection that establishes that the person has discontinued,
rectified, or mitigated a prior proliferation activity
identified under this Act.
(3) Action by president.--The President shall include in
the report information on actions taken by the President under
sections 4 and 5, in response to proliferation activities
conducted by persons identified in this section. The President
shall include in the report information on any determinations
made under section 7. If the President fails to exercise the
authority under sections 4 and 5, or if the President makes a
determination under section 7, with respect to a person
identified in a report submitted pursuant to this section, the
President shall include that information and the reasons
therefore in the report required under this section.
(4) Other information.--In addition to the information
required by paragraphs (1) through (3), the President shall
include in the report information on--
(A) noncompliance with any international
nonproliferation treaties, agreements, arrangements, or
commitments (verbal, written, or otherwise) by the
People's Republic of China, including the Missile
Technology Control Regime and the annexes to that
Regime;
(B) noncompliance with United States export control
laws, Executive orders, regulations, or export license
conditions by the People's Republic of China;
(C) the performance of the Department of Commerce
in licensing, regulating, and controlling the export of
dual-use technology to the People's Republic of China,
including the number and type of post-shipment
verifications conducted and enforcement actions taken;
(D) the threats to the security interests of the
United States, or the security interests of its allies
resulting from--
(i) proliferation activities on the part of
the People's Republic of China or persons
identified in reports submitted under this
section;
(ii) the transfer or sale to the Government
of, or persons within the People's Republic of
China of dual-use technologies and goods listed
on the Commerce Control List;
(iii) the misuse or diversion by the
People's Republic of China of dual-use
technology; and
(iv) the transfer or sale of goods,
services, or technology identified by the
Director of Central Intelligence as having a
significant potential to make a contribution to
the development, improvement, or production of
nuclear, biological, or chemical weapons, or of
ballistic or cruise missile systems, or advanced conventional weapons
or munitions; and
(E) transfers to persons of the People's Republic
of China of technology under arms control and
nonproliferation agreements and opportunities for the
People's Republic of China to engage in proliferation
activities under agreements such as Nuclear
Nonproliferation Treaty, Chemical Weapons Convention,
Comprehensive Test Ban Treaty, and Biological Weapons
Convention.
(b) Timing of Reports.--The reports required under subsection (a)
shall be submitted no later than 90 days after the date of enactment of
this Act, and on June 1 of each year thereafter.
(c) Exceptions.--Any person who--
(1) has engaged in the transfer, sale, or misuse of any
goods, services, or technology on behalf of, or in concert
with, the Government of the United States; or
(2) has transferred, retransferred, or sold such goods,
services, or technology in a manner fully consistent with all
applicable international nonproliferation treaties, agreements,
and commitments with respect to which the People's Republic of
China is a party,
is not required to be identified on account of that transfer in any
report submitted under this section, except to the degree that credible
information indicates that the particular transfer, sale, or misuse may
have continued, or been larger, more significant, or different in
nature than permitted on behalf of the Government of the United States
or under such international nonproliferation treaty or agreement.
(d) Submission in Classified Form.--Reports shall be submitted in
unclassified form, with classified annexes as necessary.
SEC. 4. APPLICATION OF MANDATORY MEASURES TO CERTAIN PERSONS.
(a) Application of Measures.--Subject to section 7, the President
shall apply with respect to each person identified in a report
submitted pursuant to section 3(a), for such period of time as the
President may determine but not less than one year, all of the measures
described in subsection (b).
(b) Description of Measures.--The measures referred to in
subsection (a) are the following:
(1) Executive order no. 12938 prohibitions.--Imposition of
the measures set forth in subsections (b) and (c) of section 4
of Executive Order No. 12938.
(2) Arms export.--Prohibition on United States Government
transfers or sales to such person of any item on the United
States Munitions List as in effect on August 8, 1995, and
termination of all sales and after-sale servicing to such
person of any defense articles, defense services, or design and
construction services under the Arms Export Control Act.
(3) Dual-use export prohibition.--Denial of licenses,
suspension of existing licenses, and termination of all
transfers or sales and after-sale servicing for the transfer to
such person of any item the export of which is controlled under
the Export Administration Act of 1979 (as extended pursuant to
the International Emergency Economic Powers Act) or the Export
Administration regulations.
(4) Procurement sanction.--Prohibition on the United States
Government procuring, or entering into any contract for the
procurement of, any goods or services from such person.
(5) United states assistance prohibition.--Prohibition on
the provision of United States assistance in the form of
grants, loans, credits, guarantees, or otherwise, to such
person.
(6) Suspension of agreements.--Immediate suspension of any
agreements or efforts for the co-development or co-production
with such person of any item on the United States Munitions
List.
(c) Effective Date of Measures.--Each measure imposed pursuant to
subsection (a) shall take effect with respect to such person 30 days
after the date that the report identifying the person is submitted to
Congress.
(d) Publication in Federal Register.--Notice of the imposition of
the measure described in subsection (b) to a person identified pursuant
to section 3(a) shall be published in the Federal Register, unless the
President determines that doing so would threaten the national security
or intelligence interests of the United States.
(e) Duration of Measures.--Each measure imposed under this section
shall apply for a period of at least 12 months following the imposition
of the measure and shall cease to apply only if the President
determines and certifies to Congress that--
(1) credible information indicates that the person with
respect to whom the determination was made under section 3(a)
has ceased the activities for which the measure was imposed;
(2) credible information indicates that the person has
taken reasonable steps to rectify the violation; and
(3) the President has received reasonable assurances from
the person that such person will not engage in similar
activities in the future.
SEC. 5. APPLICATION OF ADDITIONAL MEASURES DIRECTED AT THE GOVERNMENT
OF THE PEOPLE'S REPUBLIC OF CHINA.
(a) In General.--In addition to the mandatory measures described in
section 4 applied against persons identified pursuant to section 3(a),
the President shall apply additional measures as follows against the
People's Republic of China:
(1) Tier 1 measures.--The President shall apply one or more
of the measures listed in tier 1 that are not in effect under
this or any other Act or Executive order with respect to the
People's Republic of China in conjunction with, and at the same
time, as the mandatory measures applied against the person
under section 4.
(2) Tier 2 measures.--If, one year after the measures
described in section 4 are imposed, the proliferation
activities upon which the measures were based are not rectified
as described in section 4(e), or the person has engaged in
additional proliferation activities, the President shall continue to
apply the measures described in section 4, any tier 1 measure in
effect, and shall also impose one or more tier 2 measures not in effect
under this or any other Act or Executive order with respect to the
People's Republic of China.
(3) Tier 3 measures.--If 2 years after the measures
described in section 4 are imposed, the proliferation
activities upon which the measures were based are not rectified
as described in section 4(e), or the person has engaged in
additional proliferation activities, the President shall
continue to apply the measures described in section 4, any tier
1 or tier 2 measures in effect, and shall also impose one or
more tier 3 measures not in effect under this or any other Act
or Executive order with respect to the People's Republic of
China.
(b) Definition of Tier 1, Tier 2, and Tier 3 Measures.--
(1) Tier 1 measure.--The term ``tier 1 measure'' includes
any or all of the following:
(A) Suspension of all military-to-military contacts
and exchanges between the People's Republic of China
and the United States.
(B) Suspension of all United States assistance to
the People's Republic of China by the United States
Government.
(C) Prohibition on United States bank loans or bond
offerings in United States markets on the part of any
national of the People's Republic of China or any
state-owned enterprise of the People's Republic of
China.
(D) Prohibition on the transfer or sale or after-
sale servicing, including the provision of replacement
parts, to the People's Republic of China or any
national of the People's Republic of China of any item
on the United States Munitions List and suspension of
any agreement with the People's Republic of China or
any national of the People's Republic of China or any
state-owned enterprise of the People's Republic of
China for the co-development or co-production of any
item on the United States Munitions List.
(2) Tier 2 measure.--The term ``tier 2 measure'' includes
any or all of the following:
(A) Suspension of all scientific, academic, and
technical exchanges between the People's Republic of
China and the United States.
(B) Direction of the Export-Import Bank of the
United States not to approve the issuance of any
guarantees, insurance, extension of credit, or
participation in the extension of credit to the
People's Republic of China.
(C) Denial of access to the capital markets of the
United States by all state-owned enterprises of the
People's Republic of China.
(D) Prohibition on the transfer or sale to the
People's Republic of China or any national of the
People's Republic of China of any item on the Commerce
Control List that is controlled for national security
purposes and prohibition of after-sale servicing,
including the provision of replacement parts for such
items.
(3) Tier 3 measure.--The term ``tier 3 measure'' includes
any or all of the following:
(A) Prohibition on procurement by the United States
Government or entering into any contract for the
procurement of, any goods or services from the People's
Republic of China or any national of the People's
Republic of China.
(B) Designation of the People's Republic of China
in a country tier under the Export Administration
Regulations that is higher than the country tier in
effect.
(C) Denial of access to the capital markets of the
United States by any company owned or controlled by
nationals of the People's Republic of China.
(D) Prohibition on the transfer or sale to the
People's Republic of China or any national of the
People's Republic of China of any item on the Commerce
Control List and prohibition of after-sale servicing,
including replacement parts for such items.
SEC. 6. PROCEDURES FOR CONGRESSIONAL REVIEW.
(a) Written Justification.--Any notification submitted by the
President under section 3 indicating that the President is not imposing
a measure or exercising authority under section 4 or 5 or that the
President is making a determination under section 7 shall include a
written justification describing in detail the facts and circumstances
relating specifically to the person identified in a report submitted
pursuant to section 3(a) that supports the President's decision not to
exercise the authority of section 4 or section 5 or the President's
decision to make a determination under section 7 with respect to that
person.
(b) Congressional Action.--If Congress receives a notification
described in section 3 and does not agree with the justification
described in subsection (a), the appropriate measure shall be imposed
with respect to the person identified in the notification if a joint
resolution described in this section is enacted into law.
(c) Joint Resolution.--
(1) Definition.--For purposes of this section, a joint
resolution means a resolution introduced by any Member of
Congress after the date the notification described in section 3
is received, the resolving clause of which contains only the
following: ``That Congress does not agree with the
justification contained in the notification submitted by the
President pursuant to the China Nonproliferation Act on
______________ and that the President shall exercise the
mandatory measures under section 4 of the Act and one or all of
the tier ____ measures under that Act.''; with the first blank
space being filled with the appropriate date and the second
blank space being filled with the appropriate tier.
(2) Referral to committee.--
(A) Senate.--A joint resolution introduced in the
Senate shall be referred to the Committee on Foreign
Relations of the Senate.
(B) House of representatives.--A joint resolution
introduced in the House of Representatives shall be
referred to the Committee on International Relations of
the House of Representatives.
(C) Reporting.--A joint resolution may not be
reported before the 8th day after the date on which the
joint resolution is introduced.
(3) Discharge of committee.--If the committee to which a
joint resolution is referred in either House has not reported
the joint resolution (or an identical joint resolution) at the
end of 15 calendar days during which that House is in session
after the date on which the joint resolution is introduced--
(A) the committee shall be deemed to be discharged
from further consideration of the joint resolution; and
(B) the joint resolution shall be placed on the
appropriate calendar of that House.
(4) Floor consideration.--
(A) In general.--
(i) Motion to proceed to consideration.--
When the committee to which a joint resolution
is referred in either House has reported, or
has been deemed to be discharged (under
paragraph (3)) from further consideration of, a
joint resolution--
(I) it is at any time thereafter in
order (even though a previous motion to
the same effect has been disagreed to)
for any Member of that House to move to
proceed to the consideration of the
joint resolution; and
(II) all points of order against
the joint resolution (and against
consideration of the joint resolution)
are waived.
(ii) Treatment of motion.--A motion under
clause (i)--
(I) is privileged in the Senate and
is highly privileged in the House of
Representatives;
(II) is not debatable; and
(III) is not subject to amendment,
a motion to postpone, or a motion to
proceed to the consideration of other
business.
(iii) No motion to reconsider.--A motion to
reconsider the vote by which a motion under
clause (i) is agreed to or disagreed to shall
not be in order.
(iv) Agreement to motion.--If a motion
under clause (i) is agreed to, the joint
resolution shall remain the unfinished business
of the House until the House disposes of the
joint resolution.
(B) Debate.--
(i) Time.--Debate on a joint resolution,
and on all debatable motions and appeals in
connection with consideration of a joint
resolution, shall be limited to not more than
10 hours, which shall be divided equally
between those favoring and those opposing the
joint resolution. A motion further to limit
debate is in order and not debatable.
(ii) Amendments and motions out of order.--
An amendment to a joint resolution, a motion to
postpone, to proceed to the consideration of
other business, or to recommit such a joint
resolution, or a motion to reconsider the vote
by which such a joint resolution is agreed to
or disagreed to is not in order.
(C) Vote on final passage.--A vote on final passage
of the joint resolution shall be taken in each House on
or before the close of the 15th calendar day during
which that House is in session after the resolution is
reported by the committee of that House to which it was
referred, or after the committee has been discharged
from further consideration of the resolution.
(D) Rulings of the chair of procedure.--Appeals
from the decisions of the Chair relating to the
application of the rules of either House to the
procedure relating to a joint resolution shall be
decided without debate.
(5) Coordination with action by other house.--
(A) In general.--If, before the passage by 1 House
of a joint resolution of that House, that House
receives from the other House a joint resolution, the
procedures stated in this paragraph shall apply.
(B) No referral.--The joint resolution of the other
House shall not be referred to a committee.
(C) Procedure.--With respect to a joint resolution
of the House receiving the joint resolution--
(i) the procedure in that House shall be
the same as if no joint resolution had been
received from the other House; but
(ii) the vote on final passage shall be on
the joint resolution of the other House.
(6) Rules of the senate and the house of representatives.--
This subsection is enacted by Congress--
(A) as an exercise of the rulemaking power of the
Senate and the House of Representatives, respectively;
and
(i) is deemed a part of the rules of each
House, respectively, but applicable only with
respect to the procedure to be followed in that
House in the case of a joint resolution; and
(ii) supersedes other rules only to the
extent that the subsection is inconsistent with
those rules; and
(B) with full recognition of the constitutional
right of either House to change the rules (so far as
the rules relate to the procedure of that House) at any
time, in the same manner and to the same extent as in
the case of any other rule of that House.
SEC. 7. DETERMINATION EXEMPTING PERSON OR THE PEOPLE'S REPUBLIC OF
CHINA FROM SECTIONS 4 AND 5.
(a) In General.--Sections 4 and 5 shall not apply to a person or to
the People's Republic of China 15 days after the President reports to
the Committee on International Relations of the House of
Representatives, the Committee on Foreign Relations of the Senate, the
Committee on Armed Services of the Senate, the Select Committee on
Intelligence of the Senate, and the Committee on Governmental Affairs
of the Senate, that the President has determined, on the basis of
information provided by that person, or otherwise obtained by the
President, that--
(1) the person did not, on or after January 1, 2000,
knowingly transfer to or export from the People's Republic of
China the goods, services, or technology the apparent transfer
or export of which caused that person to be identified in a
report submitted pursuant to section 3(a);
(2) the person is subject to the primary jurisdiction of a
government that is an adherent to one or more relevant
nonproliferation regimes, the person was identified in a report
submitted pursuant to section 3(a) with respect to a transfer
of goods, services, or technology described in section 3(a)(1),
and such transfer was made consistent with the guidelines and
parameters of all such relevant regimes of which such
government is an adherent; or
(3) it is important to the national security of the United
States not to apply the provisions of section 4 or 5.
(b) Opportunity To Provide Information.--Congress urges the
President--
(1) in every appropriate case, to contact in a timely
fashion each person identified in each report submitted
pursuant to section 3(a), or the government with primary
jurisdiction over such person, in order to afford such person
or government, the opportunity to provide explanatory,
exculpatory, or other additional information with respect to
the transfer that caused such person to be identified in a
report submitted pursuant to section 3(a); and
(2) to exercise the authority in subsection (a) in all
cases where information obtained from a foreign person
identified in a report submitted pursuant to section 3(a), or
from the government with primary jurisdiction over such person,
establishes that the exercise of such authority is warranted.
(c) Submission in Classified Form.--The determination and report of
the President under subsection (a) should be submitted in unclassified
form, with classified annexes as necessary.
SEC. 8. NOTIFICATION TO SECURITIES COMMISSION OF INCLUSION IN REPORT.
(a) Definitions.--In this section, the following definitions shall
apply:
(1) Commission.--The term ``Commission'' means the
Securities and Exchange Commission.
(2) Registered national securities association.--The term
``registered national securities association'' means an
association registered under section 15A(b) of the Securities
Exchange Act of 1934 (15 U.S.C. 78o-3(b)).
(3) Registered national securities exchange.--The term
``registered national securities exchange'' means a national
securities exchange registered under 6 of the Securities
Exchange Act of 1934 (15 U.S.C. 78f).
(4) Registration statement.--The term ``registration
statement'' has the same meaning as in section 2 of the
Securities Act of 1933 (15 U.S.C. 77b).
(5) Securities laws.--The terms ``securities laws'' and
``security'' have the same meanings as in section 3 of the
Securities Exchange Act of 1934 (15 U.S.C. 78c).
(b) Notification to the Commission.--Each report prepared by the
President under section 3 shall be transmitted to the Commission at the
times specified in section 3(b).
(c) Regulations.--Not later than 6 months after the date of
enactment of this Act, the Commission shall promulgate regulations--
(1) to ensure that securities investors are notified of the
identity of any person included in a report prepared by the
President under section 3, the securities of which are listed,
or authorized for listing, on a registered national securities
exchange (or tier or segment thereof) or by a registered
national securities association; and
(2) to require each person included in a report of the
President under section 3 to provide notice of such inclusion
in each written report, statement, or other filing or notice
required from that person under the securities laws,
including--
(A) any registration statement;
(B) any annual or quarterly report, statement, or
other filing or notice;
(C) any proxy, consent, authorization, information
statement, or other notice required to be sent to
shareholders with respect to any security registered
pursuant to the securities laws;
(D) any report, statement, or other filing or
notice required in connection with an initial public
offering; and
(E) any report, statement, or other filing required
in connection with a merger, acquisition, tender offer,
or similar transaction.
Calendar No. 583
106th CONGRESS
2d Session
S. 2645
_______________________________________________________________________
A BILL
To provide for the application of certain measures to the People's
Republic of China in response to the illegal sale, transfer, or misuse
of certain controlled goods, services, or technology, and for other
purposes.
_______________________________________________________________________
June 6, 2000
Read the second time and placed on the calendar
Introduced in Senate
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 583.
Sponsor introductory remarks on measure. (CR S7511-7514)
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